Options trader hand signals in the pit
In the chaos of the trading pit, traders would do what they could to get an extra edge. One man even sold men's platform shoes , which gave traders up to 3 extra inches to get above the crowd. But the company that made the shoes, B. Mason, discontinued them when sales shrank. Thirty years ago, if the country were in the middle of a historic drought as it is today, the corn options pit on the floor of the Chicago Board of Trade would have been the center of the action. But instead, it's pretty quiet.
That's how tight we were, we had to hold our hands over our heads. Now, there are fewer traders and less clerical staff. There's also less paper: Today, the most popular way to get information is tablet computers. Shellady says it has made things are more civilized. Gone are the days when traders had to fight to place their orders. Shellady says he felt like an athlete taking to the field when he walked onto the trading floor.
Now, he says, it's much less athletic, and the traders actually look different. They operate out of the old Board of Trade building.
Although many have predicted computerization would mean the demise of open outcry trading in Chicago, Shellady says that some traders' expertise can't be replaced by a screen, at least not yet.
For example, packaging a variety of derivatives is still hard to do on a computer, he says. And the easy stuff Binary options trading platform is an innovation in online trading system. Binary options brokers offer simple services like binary trading markets. Stop Searching About trading pit signals,our Financial Freedom starts here. Options Trading Pit Editor Ian Cooper weighs in on where the money's to be made in the coming financial melee.
Open outcry is the name of a method of communication between professionals on a stock exchange or futures exchange typically on a trading floor.
A specific area of the trading floor that is designated for the buying and selling of a particular type of security through the open outcry system. Mastering Directional Option Trading Encore. Each day, billions of dollars exchange hands as people buy and sell everything from oats to weather.
Stop Searching About trading pit signals,enjoy a complete financial freedom. What is option trading? Are the golden years of wall street and the stock market over?