Floored
- Thread starter Sanaz3
- Start date
Yeah that guy seemed like he had some good stories.
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Would have liked more personal stories in general actually. I am sure they are all interesting.
And haha, def. some more with drunk guy. True trader there, when you are up bet more. I like his style. It seemed to work for him at the time anyway I suppose.
Quote from bighog:
Unlike what we saw on May 6, 2010 where the computers blew up when everyone hits the mouse at the same time and there was only so much cheese to be had.............when humans, regardless of nice guys or swear like truck drivers were in the pits.............humans did a better job during a panic.
Yes, Oct 19, 1987 was far worse and far more blood was spilled and it was not pretty. But the traders worked their way through the first real test of "portfolio insurance" in real time. The 'thought process" back then was what failed, not the traders. This time around it was the failure of the machines, computers can not handle a panic because they can not "THINK" on the fly.
Floored, (i have not seen it yet) is more about a historic perspective of the traders themselves trying to make a dollar. It surely is not a trading manual. Most new fools in this game want the keys to the kingdom handed to them instead of FIGHTING their way up the ladder to become a winner in an "alley cat" tough game.
Surely some big winners are loveable and soft as cotton candy but to win in this game you are a special character, you are wired different, you are special breed.
Pit traders were the real deal, computers cut costs, cut the speed of orders entering the mkts, etc. What we all know for sure is the pit traders were not replaced because computers do a better job at PRICE DISCOVERY.
The auction process with hand signals, blood and guts traders worked. NO WUSSIES ALLOWED.
the market worked fine on May 6, 2010. It's peoples failure to recognize that which is the EPIC FAIL.
I saw maybe twenty minutes and had to turn it off. I know some traders really are boozehounds and gambling addicts, and I know a trader bankrolled the production of this film, but I can't help but get irritated by the constant gravitation toward that depiction of this industry as a whole...
Playing golf in snow ... hahahah!
I thought it was a great film, not what I expected though.
Every single pit trader in that film was a degenerate gambler. Go to your local poker room and talk to some of the people in there. Exactly the same breed.
Hell, they even have the same arguments. Talk to old poker hounds, and they will say "Kids these days with their computers, just clicking mouse buttons, they are ruining the game, that's not poker!"
Every single pit trader in that film was a degenerate gambler. Go to your local poker room and talk to some of the people in there. Exactly the same breed.
Hell, they even have the same arguments. Talk to old poker hounds, and they will say "Kids these days with their computers, just clicking mouse buttons, they are ruining the game, that's not poker!"
Not sure if you can catch the difference if you are watching ninja trader all day, but this is all about FUTURES.
Equities are not mentioned ONCE.
FYI, this documentary sucked. I saw it at the premiere in ny.
There is another one out that follows guys at the NYBOT, called The Pit.
It looks a lot better, but I haven't seen it yet.
http://www.thepitmovie.com/