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One of the benefits of working at an exchange, other than getting paid to learn
the industry, is the exposure you have to the trading community. The trading
firm, when they have openings, will to the nearby community first to fill
openings. I lose many of my best people to the trading community. It is almost a
"natural" progression to move from the exchange community to the trading
community. Many of the most successsful traders and firm managers came from the
exchange community.
If youu look at breaking into trading via direct floor access it is very
difficult. Floor clerks and runners earn almost nothing when they work for market
makers. In fact most of the "apprentice" positions pay "ZERO" yet people line up
to get them.
TRaffertu wrote:
> In a message dated 98-02-26 01:32:30 EST, HamerJP@xxxxxxx writes:
>
> << I gained some good experience about how the pit system works. How locals
> will
> gun for the stops; what happens when a broker is working a customer order;
> how the pit will explode when a few big orders hit it. >>
>
> Hi Jim,
>
> That sounds like an excelent year of learning eventhough it wasn't
> profitable monitarily. Could you go into more detail about these three
> situations, particularly in reguard to how an off floor trader can avoid being
> turned into hamburger.
>
> Good luck and good trading,
> Ray Raffurty
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