|
PureBytes Links
Trading Reference Links
|
I know my broker desk in the S&P's tries to protect me from the type of
example given. Just the other day I took a stop to the market and prices
were trading 69.50 bid 70.00. Right when I took it to market Squawkbox was
quoting a 69.20 bid and a 69.20 printed. Prices immediately went back to
69.50 bid and then higher. My broker was told that I was filled at 69.20
(the low tick of course). Immediately he started screaming at the order
filling that it was bullshit! He was screaming that there was a 69.50 bid
right next to him. The order filler made the 69.50 good.
It's nice to have someone on your side down there!
Howard
>From: Ira Tunik <irat@xxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: realtraders@xxxxxxxxxxxxxxx
>Subject: Re: [RT] Secrets of Floor Traders
>Date: Fri, 13 Apr 2001 07:50:18 -0700
>
>This is illegal as can be. Unless the rules have changed. Ira
>
> > 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.....
> >
> > Yahoo! Groups Sponsor
> [www.debticated.com]
>
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|