Open Outcry! Just Wow.,.Most of the finance guys aren't street smart :S I find this system really amazing.. Yeah, Computers add accuracy to the markets, but, the real fun of being on streets and trading is something different!!:)
I don't get it. It doesn't make any sense. was there really no better method of trading back then? it's a bunch of people shouting and not hearing each other. How's that effective???
Because if you got someone elses attention you would make that trade with them right there on the spot. If I want to buy, I need someone to sell to me. If I want to sell, I need someone to buy from me. Keep in mind this was before computers. The beauty of electronic trading is now the computers automatically match you with someone else immediately. Computer trading is the reason why these pits are dying.
A lost art. I spent about 8 years in the Eurodollar back-month pit from 2002 to 2009. Arb will disappear from existence once the last dinosaur traders, brokers and clerks are gone, so goes the art of arb. Merc jerks forever
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I really wish I could've traded in the pits. I know its incredibly demanding but damn did it look fun!
“Blue Horseshoe Loves Anicott Steel.” Wall Street. RUclips- Jonny Weiss “Back to Phoenix.” 🎶
Open Outcry! Just Wow.,.Most of the finance guys aren't street smart :S
I find this system really amazing..
Yeah, Computers add accuracy to the markets, but, the real fun of being on streets and trading is something different!!:)
A bygone time. One more thing that I think computers have ruined.
no arbitrage discussed :( why write it there?
what did the middle finger mean then?
Oh snap. Lol. Good question.
How do you know orders were filled, or executed?
Hand motion akin to a "karate chop".
Imagine making a mistake .
:(
when you try to exit your entire position but end up buying 1,000 shares during a dip.
Grains(Wheat desk) 99-02
2:13 predicted Wakanda Forever
There were also hand signals for every trading firm. Or, the tug on your tie to confirm a trade!
I recall the signals for delivery months too. U shaped hand and a triangle formed with two hands for Sep and Dec respectively, at least at the CBOT.
It's not clear who is talking to who in term of job.
Also, how do they know the order has been accepted ?
How you aim to certain person you want at such crowd?
I don't get it. It doesn't make any sense. was there really no better method of trading back then? it's a bunch of people shouting and not hearing each other. How's that effective???
Because if you got someone elses attention you would make that trade with them right there on the spot. If I want to buy, I need someone to sell to me. If I want to sell, I need someone to buy from me. Keep in mind this was before computers.
The beauty of electronic trading is now the computers automatically match you with someone else immediately. Computer trading is the reason why these pits are dying.
This is from before electronic trading and high speed internet was available.
Jere Mias I don’t like electronic trading, it becomes so boring... the gestures and emotions are also important in a market.
because every second counts and much quicker to signal the order than to hand deliver to broker
Different times..my ex was in the grain pit, made alot of money, but like many traders..lost alot, too.
Good video ❤❤
A lost art. I spent about 8 years in the Eurodollar back-month pit from 2002 to 2009. Arb will disappear from existence once the last dinosaur traders, brokers and clerks are gone, so goes the art of arb. Merc jerks forever
Did you know, a close friend, by chance..Larry Nocek..? Ran a prop firm, NT Financial.
It has become a *lost art* and younger generation can't do it Amy more.
FANTASTIC
open outcry was not born in chicago but Amsterdam in the 1600s.
It was much slower in Amsterdam so modern Open outcry trading started in America.
Mixed signals all across the board
Come on where are all your mobile phones?
they've developed another language
Sounds like prison😂
Skyride!!!!