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Re: Learn from...



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RTers,
This argument about the local traders looking over the 5 or 10 lot traders 
stops and shorts, and side deals is so absurd, I almost did'nt make a 
comment, but this has gone far enough.
As a former scalper/trader at the CBOT, the small independent off floor 
traders stops, shorts, MOC orders would not make my day. 
There is no way in hell that information is available to me or anyone else on 
that floor or in the pit. The brokerage house that has those orders surely do 
not broadcast their customers orders to the floor.
Our money is made when the big commercial houses such as Cargill, Laughoff, 
Iowa Grain, Kellogs, Post, Quaker Oats, just to name a few, and other 1000 
lot traders, come into the pits with their mega orders.
Wether it is the grain pits, bonds, ags, currencies, your orders are not our 
concern nor are they any less important than any other order.
If I am buying 20 cars, the trader I am buying them from may have 20, 1 lot 
orders he is selling.
Most active pits have well over 100 traders in them all working for the good 
of their customers and the brokerage houses that pay them.
As a scalper, I never held a position overnight, rarely looked at a chart, 
never owned a computer or trading  software, bought and sold as many as 100 
contracts a day on as many as 15 transactions a day, worked on as few as 10 
or 12 ticks, and most days was through by noon.
Beleive me your stops and MOC orders are a good safe bet.

All the Best,
Jerry Donato