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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
intel55@xxxxxxx
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, April 13, 2001 12:35
AM
Subject: Re: [RT] Secrets of Floor
Traders
Well floor traders can "get" a
license to print money. It is called standing next to a broker. It takes a
long time to work your way "up" there though. Just like any profession
there are only a few who make the big money and the rest run the gamut.
There are big traders in the SP pit, about 8-10. They scalp and take on
large positions and in the SP's can make millions of dollars a year (
though that still is chump change compared to some of the large off the
floor traders) The pit traders feed off the order flow (which many use to
scalp) to make their money. You can make some great money by scalping and
taking on just a little risk. Many are techincal and one large trader in
particualr, SIR, is steeped in Gann. He is a great trader to watch. PRS is
another great trader to watch. There really are no "secrets" to speak of.
You just go down there and start picking it up after a few months. The
so-called "secrects" are those between the broker and the local or the
"fluff" trades that the brokers give (which is why it is really nice to
stand next them). Ex: of a fluff .... 1170.00 bid in the pit, both local
and dealer by 1170.50 offer. You are on the O even bid also for 5 or 10.
Broker says to you "sold 10 at 9 half!" (1169.50) and then you hit
the surrounding bids. Instant profit with NO RISK!!! Ahh secrects.....
NW: Your last example sounds
illegal to me. Do they allow that at the CME? My experience on the
CBOE floor and the CBOT floor was
that you can't trade through a valid bid or offer until all at that price are
filled.
Cheers,
NormanTo
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