Revive the Pits?

[WeekendTrader]

If you used to trade in the pits...do you miss it?
If you have never traded in the pits...do you wish you could have experienced it?

If I told you that I could provide you with a real life environment that simulates the trading pits...would you be interested?

I used to work on the NYMEX trading floor. Frankly, I miss it. So, I have built a programme that simulates market order flow, which reacts to the traders in the game. I have had some test runs in my flat in London, with some success. But I am looking for more testers.

Does this interest anyone?

 

[Directional]

how does that work then?

I did a short stint of mock trading in a pit at the CBOT in Chicago in 2003, but I gotta say, its pretty hard to tell whats going on in open outcry, vs looking at a screen.

 

[intradaybill]

Sounds like a nice idea for VR application.

 

[arabianights]

I would have liked to have experienced it... but I'd have been ****e at it, can't think quickly enough verbally!

As Arb will tell you, we're all trying to arrange a t2w trip to the LME sometime

 

[WeekendTrader]

x

 

[minime69]

hi,

i was a local on the LIFFE floor from 1994 to 1999 and yes i miss it.

 

[xusorcim]

Just curious if anyone could offer some tips and tricks for open outcry? I've printed off a sort of option delta sheet, and tried working out strategies etc. However, I can't seem to keep track of everything (position, greeks etc). It just gets so messy.

I find screen so much easier, where the computer helps you calculate and display all the necessary variables in a neat and tidy fashion. However, I find the open outcry system fascinating. Also given the fact that it is still being used till today, I think there is good merit that's worth learning.

Hope someone can offer some guidance where I can learning techniques of the pit. Who knows? If more people start taking interest in it, we might see more traders going to the pit traders.

 

[shadowninja]

If anyone wants to pay me £1k, I'll turn up at their residence and make as much noise as I can while jostling you for an hour while you try to trade. :cheesy:

 

[tommac]

I certainly miss the buzz of a busy dealing room-too bloody quiet at home here.

 

[dilesh23]

YouTube - Office fight (full version) www.harpun.no

You must have been the one not on the receiving end

 

[tommac]

Lol

 

[dilesh23]

The pits do seem like a fun place, i hear the trading plan for some of the traders was to watch and see what some of the better pit traders were doing i.e Mr Futexs, Mr Schneider and MR Kyte and shout loudest and fastest to follow them

YouTube - Trading Places Final Exchange Scene & Explanation

Happy New Year !!