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Norman... I cant open this
----- Original Message -----
From: Norman Winski <nwinski@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, April 16, 2001 9:43 AM
Subject: Re: [RT] Secrets of Floor Traders
>
>
>
>
>
>
> ----- 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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