I remember those days like it was yesterday. You read the ticker tape back then and joined or stepped in front of perceived big orders. Consistently making the spread back then was quite profitable. Fond memories of the San Francisco Stock Exchange established in 1882! Below is a film clip taken from a San Francisco trolly before the 1906 earthquake:
I wasn’t there, but from what I gathered being a floor trader made it relatively easy to trade the “news”. Now there is so much information overload you may catch yourself never trading due to analysis paralysis. I haven’t personally run into stop hunting or anything on brokers I am with. This seems to be a thing common on bucket shops, and only apparent when I tried (and failed) to trade crypto swaps.
It's probably easier today, but people always seem to blame their circumstances or talk about how things were easier 'then'. I notice this in most walks of life. Read Reminiscenses of a Stock Operator to get a feeling of how trading were 100 years ago. 'Most people' lost money then as well. And Jesse Livermore himself was studying the markets and taking notes constantly...
you don't need to go that far.... there was a signicant change from the 80's. for my opnion nowdays it's easier to trade
With all due respect,you guys are %=÷/ing out of your ever loving minds.... I just turned 60,and have worked on Wall Street since the 80's..Puts were just being introduced.... I kid you not,I used to get calls from the OTC broker asking if I wanted to do reversals/conversions to make 2-3 dollars..Risk free..You guys know today,the same today yields basis points... Imagine getting a call askibg if you wanted to put up 1000 reversals to make 2 bucks and countering at 2.75...And getting filled... I later went out on my own and traded in the XMI pit (pre crash),and could still leg reversals and conversions to make .30 -.75 all day long...Only execution risk.. At the same time there was a settlent arb where the options traded off the cash close,while Morgan Stanley used to manipulate the market and the futures would go to massive premiums/discounts and 5 point boxes would go from 5 -6....Day after day... And the icing on the cake was the day after the 87 crash with Merril coming into the XMI pit and literally pay 50-100 dollars over arb value to close out short put positions.... Each one lot conversion blew out to 30-70 bucks assuming you didn't get bludgeoned legging out of the futures and calls... Yup,a 100 lot conversion made you 300-700k in a day.And the Amex did attempt to make traders give back profits.. If there was ever such a thing as free money,those were the days..
%% DONT know- i'm not that ''mature/100 years '' LOL.But its easier than 20 years ago-less commissions. But don't confuse easier with easy.The media is spewing much more trash; so to the average shallow study Jack + Jill, maybe much harder. I don't watch much CNBC/comedy, but some commercial businesses/banks have it or FOX playing. CNBC said FRIDAY, after close, ''analysts have not been this bearish since AUG 2009'' Perfect; I checked Stock Traders Almanac, AUG, 2009.LOL perfect uptrending high %% bull market. NOT a prediction+ prefer FOX more than CNBC, after close...…………………………………………………………………...
The Ping times where measured in days 100years ago, where as know 50ms is typical. Drawing your own charts on paper, working out your own MA's without a calculator even, sending your order on a telegram, I guess getting prices also telegram. Definately not a scalper anywhere 100years ago, I'm sure some moved closer and got there ping times down to 1hour which gave them an advantage.