{quote} I used to be one myself for over 15 years before the exchange I traded on shifted over to screens. The pictures below paint a picture I'm sure you'd be familiar with ; {image} 1648264 {image}
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Question, where you versed in screen trading when this happened? Or did you have to relearn some things about computer trading when your pit closed? Also, which way have you been more efficient at?
{quote} Question, where you versed in screen trading when this happened? Or did you have to relearn some things about computer trading when your pit closed? Also, which way have you been more efficient at?
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The game completely changed moving from pits to screens.
A good pit trader could read the market like a game of poker which can't replicated on a screen.
I could tell just through my sense of hearing who was doing what, whether the market was long or short, who was bluffing etc..,
We also got to react to the news first, everyone else was a phone call and a hand signal away - certainly no algos in front of us.
{quote} The game completely changed moving from pits to screens. A good pit trader could read the market like a game of poker which can't replicated on a screen. I could tell just through my sense of hearing who was doing what, whether the market was long or short, who was bluffing etc.., We also got to react to the news first, everyone else was a phone call and a hand signal away - certainly no algos in front of us.
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That is crazy, I've seen a few documentaries and it just seems so intense. Did anyone ever get into fights? Or despite the mayhem you all remain respectful? I wouldn't be able to participate without home trading, but I bet everything was more natural back in the day. Not as much shady stuff like high frequency traders etc.
{quote} That is crazy, I've seen a few documentaries and it just seems so intense. Did anyone ever get into fights? Or despite the mayhem you all remain respectful? I wouldn't be able to participate without home trading, but I bet everything was more natural back in the day. Not as much shady stuff like high frequency traders etc.
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Pit position was most intensely guarded and whilst there were arguments there were never any fights.
Trading disputes were quickly resolved by replaying the videotape from multi-camera angles.
For myself and all the other successful "locals", what might look like mayhem to you and 99.9% of the public was absolutely crystal clear to us.
Amongst this throng existed some enthralling rivalries but the pits also evoked a wonderful sense of camaraderie.
{quote} Even i felt the same while reading the weekend NFP; however, the borader descending trend-channel, closely followed by the 100-day SMA, on Daily chart continue supporting the AUDUSD weakness. Moreover, the RBA meeting is likely to become a critical event for the pair.
Seems that the pair could continue trading between 0.7720 and 0.7610. However, today's FOMC meeting minutes should be take care of. If the pair sustains the 0.7720 break, it could rally to 0.7750 & 0.7800 marks while on the downside 0.7610 & 0.7550 are important supports.
{quote} Seems that the pair could continue trading between 0.7720 and 0.7610. However, today's FOMC meeting minutes should be take care of. If the pair sustains the 0.7720 break, it could rally to 0.7750 & 0.7800 marks while on the downside 0.7610 & 0.7550 are important supports. Overall view remains bearish
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i feel it is bearish too. As long as commodities are depressed. Aussie probably too.
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Joined Dec 2013
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Status: silent learner
|162 Posts
Quoting Fx_Anil;81910r28
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{quote} Seems that the pair could continue trading between 0.7720 and 0.7610. However, today's FOMC meeting minutes should be take care of. If the pair sustains the 0.7720 break, it could rally to 0.7750 & 0.7800 marks while on the downside 0.7610 & 0.7550 are important supports. Overall view remains bearish
{quote} Seems that the pair could continue trading between 0.7720 and 0.7610. However, today's FOMC meeting minutes should be take care of. If the pair sustains the 0.7720 break, it could rally to 0.7750 & 0.7800 marks while on the downside 0.7610 & 0.7550 are important supports. Overall view remains bearish
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it is not able to break the 0.7720 yet, and from the 0.7724 level it is now at 0.7704... is this an indication that it will go downside?
appreciate you comments.
{quote} I used to be one myself for over 15 years before the exchange I traded on shifted over to screens. The pictures below paint a picture I'm sure you'd be familiar with ; {image} 1648264 {image}
