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Who do you use for execution.
Thanks
----- Original Message -----
From: "Joe Duffy" <joeduffy@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, April 16, 2001 8:58 AM
Subject: Re: [RT] Secrets of Floor Traders
> This is why for most people the e-mini makes a lot more sense. It costs
> slightly more in commision to do 5 e-mini instead of 1 big sp, but that
can
> be more then made up for in speed of execution, lack of slippage, and the
> elimination of the human element on the floor. I resisted e trading at
> first, but I'd never, never go back.
>
>
> ----- Original Message -----
> From: Howard Hopkins <hehohop@xxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, April 14, 2001 11:35 AM
> Subject: Re: [RT] Secrets of Floor Traders
>
>
> > 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.....
> > > >
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> > > [www.debticated.com]
> > >
> > > >
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> > > >
> > > >
> > > >
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> >
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> >
>
>
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