Make millions trading the financial markets

sigh, and in true style, the thread is derailed.

I am a local. If you want to believe that locals are floor traders, that's your call.
 
mate a local is a turn that comes from the pits of the CME, CBOT and NYSE before it went electronic..and now everyone runs around calling them selves locals lol
 
it doesn't matter where you trade. it's a pretty loose term for anyone trading their own book. no need to complicate.
 
agrees that the term comes from the trading floor? ok it says the term includes arcades which you are at..
 
Skill Leverage said:
Here is a sure-fire way to make millions trading; you'll have to be quick mind:

Step 1: Get limits of about 200 in Bund futures
Step 2: Buy 122.76
Step 3: Sell 122.78

Repeat until Trichet says something tantalising yet non-committal.
Click to expand...

That's almost as retarded as my bor trading today.
 
Yeah I'm just on the Bund atm, but most of the guys here trade a few different things. A couple of guys do about 6 or 7 different markets, but you'll probably find that they concentrate on 1 or 2, because there's too much information to take in otherwise. You might have someone who trades DAX and Oil, but has limits in FTSE, Bund and Gas to hit figures with, or for certain announcements perhaps.
 
Why is it that most prop firms I hear about train people up are in the money markets as opposed to other instruments? Does that change as you gain experience or do you just end up sticking?
 
That's not really the case here; you are exposed to a wide range of stuff, and you pick what you're comfortable with. It just so happens that a lot of people have chosen bonds as of late, but there are plenty of guys here who have always been FTSE traders, or DAX, or currencies.

One thing I would say is that the money markets tend to be easier to get to grips with, in that there aren't as many 'moving parts' within them as an equity index made up of one or two hundred different companies. It's also much easier to scale up the size of your trading in something like the Bund compared with the FTSE.
 
Hmmm. I always thought that they don't really move much so I didn't really understand why firms picked them. Then I've only been watching things for the past year or so. Things changed over that time?
 
The Bund moves enough in the day for you to make good money, no doubt about that. There will be periods in the day (usually around lunchtime) when it gets a bit dead, but you can often trade a nice range in that time (or at least pullbacks from extensions of that range).
 
Skill Leverage said:
The Bund moves enough in the day for you to make good money, no doubt about that. There will be periods in the day (usually around lunchtime) when it gets a bit dead, but you can often trade a nice range in that time (or at least pullbacks from extensions of that range).
Click to expand...

Skill you obviously pay low comms as your prop but have you any idea who the
retail crowd would use to trade bunds with.

Ged
 
Skill Leverage,

I'm not a scalper, but I do trade Bunds in a small way (only spread betting though). Still trying to get a proper handle on what moves the damn things (I do have some ideas, but it still seems a bit of a black art). Yes, I can see that when Trichet speaks it's going to do something, but what moved it, for example on 1st Oct? Hell of a jump.

Also, any idea why the trend changed around 22nd-23rd September?
Edit: Looking again, this time at Daily chart, it was more like a breakout (1st Oct) of the range, to continue the longer term trend.

Thanks.
 
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