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its not totally the same on the screen but its the same concepts. Your trying to see what paper is actually doing and be on the right side, you read order flow like pabst said to know when a shit load of your friends are stuck long or short, and take advantage of the push when they're forced to...

my opinion, after seeing it in action? if you are one of the few that can do it, DO IT. Its a big game to these guys and every point they score (tick) makes them richer. Guys like this do exist now, I trade with many of them, and I'm doing my best to learn their craft.

I'm not pabst but maybe i could help a bit. QUOTE]Quote from trader89: If I am correct, Pabst, you have worked a couple of years as a local in the bond pit ? I have a couple of questions regarding the bond pit. I welcolme other members who have experience about pit trading...

from what I understand, before, alot of locals, even bigger guys didn't really have to get a seat if they weren't trading the volume. ED guys had to no matter what. Cause they were scalping and spreading and cars add up

there are real traders that either one of, seriously 1/1millionth of a percent, that get it and can trade as a career alone. Who knows how they feel. Then there are real, oldschool traders who clerked first and learned from an actual trader.....they get the appreciation cause they went through...

never traded ED on the floor but am clerking/trading for a group that is probably one of the more well known in that product.

thinking back into my memory more....it has to be packs/bundles, because if its just a spread or a fly, the prices cleared are gonna end up being something that is bid/offered at the time, so it wouldn't look that wild. cheers

Jim hit the nail on the head, or pretty close....i think the packs/bundles may have more of a hand in it. I'm not sure exactly of how its cleared...but if you buy the red pack, for example, at a price of +3...the prices in the outrights that are shown as trading can be anything, as long as they...

I have a close family member who's been a pretty big local for a long time at CME, and my backers are all floor guys that successfully made the transition. The stories they tell are amazing...a different world, on the floor. From what I gather now, its all the same stuff now on the screens but...

If you were in the currencies we defintley know some of the same people

Def. don't use a market order w/ a pit traded comdt under any circumstances. An old trick alot of brokers/locals use is to go 'half and half' on 'em....i.e. you wanna buy 100 at market, local wants to sell at 10, broker wants to pay 5....they do half the order at each price as a compromise...

I yell and get pissed, only when I make a mistake, i.e. getting out too early...if the market does something crazy, I'm def. alot less pissed than others in my office...cause If I'm trading right and I didn't see it coming, no other locals did either...so hey, shit like that happens.

Its not something you can get unless your a local, these markets are different because they are still mainly pit traded, not on the screens, its a different world there. What I mean with 'sick edge' in the cattle trade is....say the market is 6 bid 100, 200 at 7....a broker gets an order from...

I can't tell if your being sarcastic or not. I wasn't watching volume but 10 yr was fucking volitile when he spoke...bloomberg reported first w/ a definte hawkish tone to the headlines and we broke hard...then CNBC reported about 5 mins later emphasizing a few more dovish statements and we...

really, really tough trade in any interest rate products these last two weeks, and last two trading days specifically.

are you guys trading cattle from the screen w/o any pit connections? If so I'd be careful. If you have somebody (i.e. trading partner) in the pit...I've heard the cattle trade is some of the best edge going right now.

Is that Lincoln Park? I live there, not too close to the zoo though, off racine and fullerton. I'll have to check out the lions next time I'm around!

If I was back trading the spoos my answer would be different....but as it is now FuturesTrader for sure, I'd love to trade with that guy. I think the way he trades is the style I'm working to master now so I could learn some.

I'd say about 60% at least of the guys in my last office listened to music when the market was slow (afternoons, etc) or whenever....now only about 2 of the 5. I've tried it...I can't really concentrate, but of course, maybe cause my playlist is all my favorite songs and I wanna sing along...

number had to be leaked or somebody took a huge bet and made out, exactly half the move of the whole day in my product happened in the 10 sec's before the number. bullshit. '24 I believe is the 10 yr level associated w/ 5%....I believe friday it even settled higher than that, so 10 yr and...