i just wonder what floor trading techniques is still applicable to screen trading, and what is not??? not sure if it's directly comparable, but is there any edge screen trading has nowadays over floor trading as in the old days???
the edge in floor trading was that you saw the order flow first and were at the front of the queue. the screen got rid of that for a while but now institutions need that "floor edge" so they all created internal matching systems that allow them to trade against their customers first (off exchnage) if they choose to.
Finally, someone with a truthful and CORRECT answer to a question..... jeshhsh so much non sense here
Spot on. Add to that . . . pit traders saw that order flow as it moved from the natural support and resistance creating in that flow. Once support was in the process of being created the floor traders knew the target (last resistance) that price would flow toward. Once resistance was in the process of being created the floor traders knew the target (last support) that price would flow toward. This took a lot of practice and quick thinking in the pit but it one of the things that made or broke a successful floor trader. If screen traders construct their charts that same way a successful floor trader "saw" the order flow they can have a real advantage.