gedward3
Established member
- Messages
- 928
- Likes
- 121
Ged
Yes ofcourse there is huge advantage for pit traders and i am sure they are much better than retail traders , most of them are market makers and scalpers , but what was their success rate , i bet it was under 50% ...
TBH Tar there wasn't a big blow out of traders as their brokers had limits per day as to what they could lose as a percentage of their accountso kept them in the game. As i said their bread and butter was trading the spreads inter month. Th evolatility in the first month would throw the back months out where they would make their money.
I remember a young guy who was a clerk who borrowed £10k from his parents to trade and sold 5 Brent contracts and went for lunch. Told a fellow local trader to sell if it the price went to a figure (the local way of using stops). Anyway the US Cole got hit by Al Qeada and he made £25k. Nice work for a bit of luck.
Ged