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I did not mean to suggest that anyone should sacrifice their interests. On the
contrary, my hope was that the RT community would learn to shop around and learn
to execute their orders better by learning how to best utilize the floor. Find
out who the good brokers are, and avoid the losers. And work with the good
brokers. That's all. In any trade or profession, there are those who are good at
what they do, and those who are inept. And believe it: the locals know who is
good and who is not. It's their stock in trade. It's not a circus floor at all.
There's no money being lost in a circus ring.
A.J. Carisse wrote:
> I can sympathize with this, as I can imagine this may present difficulties.
> However - the comment "interrupts the flow of their business needlessly" is
> troublesome. Their "business" is to serve clients; more specifically, to
> execute requests. If certain aspects of fulfilling this duty are considered
> to be a "royal pain in the ass," then perhaps this line of work is not
> suited to them. The fact that this is seen as "unnecessary" is even more
> disconcerting - it is certainly not the place of the floor broker to
> question the appropriateness of an order, even if this were true.
> Regardless of any additional complications that may ensue, it is absurd to
> suggest that traders be forced to sacrifice their interests to conform to
> the ease of order handling. Personally, I find that the very fact that
> orders are still handled in this antiquated fashion to be humorous - but, in
> any case, if the workload becomes too demanding, increasing staff and/or
> efficiency would be the sensible solution - and certainly not encouraging
> clients to abandon their trading strategies.
>
> > Frankly, different brokers will have
> > different bid/ask spreads quoted them based on the perceptions of locals
> > like myself as to how diligent the broker will be in filling the order.
>
> Very little surprises me when it comes to monkey business in markets, but is
> this for real? This just goes to show how much of a circus floor trading
> really is.
>
> On the other hand, I don't doubt that this is difficult work that does
> require a lot of skill - especially if one is to be good at it. If these
> orders were merely whimsical, and had no meaningful place in trading, I'd
> agree with you. Surely this isn't the case, though - in my opinion, only a
> novice would not advantage him/herself of this option. If it does indeed
> create more problems than it solves, then the efficiency of the process must
> be improved if the level of service provided is going to be even adequate.
>
> Regards,
> A.J.
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