Pit Trading

W

will2205

Hi Traders,

I am currently an observer at the Minneapolis Grain Exchange. I looking for some additional insight into pit trading, because I'm looking to make the switch.

Unfourtunatley, I can't find any books about trading in the pits. Also, so may of the locals say they don't use technicals to determine their positions. So if their are any grain traders out there from KC or Chicago willing to give my some guidance please speak up.
 
Check out the Tom Baldwin/Brian Gelber interviews in Market Wizards. Maybe read The Logical Trader by Mark Fisher. I'd also keep in mind that pit trading probably isn't a great place to start a career anymore, with electronic trading becoming bigger and bigger...
 
tf13158

I second the book "The Logical Trader", there are some tips in there that if read and applied with acuity in the real world along with your own kernal of wisdom you can say to yourself: OK, Lets do this.........:)

Real live pit people will be around much longer than some believe. One simple question, who is going to do the price discovery when the bad guys turn off electricity. Computers need juice just as we need steaks and milk.

NYMEX for one has done a terrific job of keeping the boys/gals in the pits. The fights, pencil stabbing, spitting, stinky breath and 'pits", blood shot eyes etc, it is all part of the game...:D

Ever see a picture of the HONG KONG exchange? BORING, BORING .....Someone might post one in here, i think there is a picture in the thread about posting your office. Just like lunch time in the springtime in Chicago's Loop, without checking out the classy dressed ladies why even leave the office? The world needs real boys and gals......:D :D :cool: :cool: :cool:

PS, and before some good ole boy says ladies look good in "daisy dukes", that is not a classy lady walking down Michigan Avenue...HA
 
bighog,

I really hope that you are right. The longer pit trading around the better. It's something that I've wanted to do for awhile, and when I turn 21 I plan to at least take a stab at it. I only wish it were the 70's or 80's again. Those were the days for the pits.
 
Quote from bighog:

tf13158


NYMEX for one has done a terrific job of keeping the boys/gals in the pits. The fights, pencil stabbing, spitting, stinky breath and 'pits", blood shot eyes etc, it is all part of the game...:D

More...

exactly the problem....
 
Important Annoucement 12/07/2005

Effective immediately, our Gold Options brokers are accepting limit orders in 50 cent increments only until further notice.

....

what a way to run a railroad...
 
Important Annoucement 12/07/2005

Effective immediately, our Gold Options brokers are accepting limit orders in 50 cent increments only until further notice.

....

what a way to run a railroad...
 
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