I Have Been Trading Since Before The Internet-1990

Discussion in 'Trading' started by dsq, Dec 14, 2007.

  1. cd23



    Nice thread; thanks for starting it.

    I enjoyed reading the posts and taking a trip down memory lane.

    For some reason, I thought mostly of the many absolutely hilarious things that came up over time.
    #41     Dec 17, 2007
  2. =======================
    Old Time trading- first trade 6-14-89

    That 8'' green screen was hi tek.

    I remember my first trade:D , but had to check my records for details. Fidelity Investments,phone order ,Time Inc was merging with Warner Bros Clipped article of Wall St Journal, thinking in '89 ,what a neat 2 year chart .

    Ticker then TL, only have the data i saved;
    my TWX doesnt even go back that far,TL is now a different co.

    I also remember my first chart analysis;
    wasnt too familiar with uptrends, so i ''figured'' i better sell it before it hits top of the 2 year news paper chart.

    Time frame has shortened some, especially since AUG;
    but still like research & short swing trading with trend,/trends & most gaps help.:cool:
    #42     Dec 17, 2007
  3. for retail traders, it's much much easier to make money trading today than during the 90s. before decimalization, you would typically see b/a spreads that were 5-20% of the stock's bid. the mm'ers had you by the balls pretty much.

    imagine making money when a stock's b/a was 19.50/21.00. that was typical, esp. with techies, during 1995-99.

    also back then there was virtually no after-hours trading, and much lower liquidity on options and futures.
    #43     Dec 18, 2007
  4. zdreg


    how come you stopped receiving PMs ?
    #44     Dec 19, 2007
  5. ===============
    As far as before internet-1990 compared to 2007.

    Really rather trade now.
    1]Mainly 20 years experience,20 years trend study,now;
    & nice now to have charts/cheap comissions/choice of cheap comissions. Not that decimals hurt a swing- position deal much

    1.7]Still record end of day data by hand;
    but simply prefer candlecharts,available now, not then.

    2.7]Actually if i could,
    i would
    probably trade as fast as Bright Bros Trading,but i got the turtle nickname as an insult, as a kid. LOL

    3.8]And know now Blair Hull admitted ''slowest market maker on the floor''-everybody cant trade fast.LOL Thanks Jack Schwager

    4.78] Also , in other words had too much ignorance before internet-1980's. Plenty of opportunity now just noted a liquid real estate & banking sector stock that lost 10 years worth of uptrend-in 2007 downtrend. Still down trending ..................

    :cool: :)
    #45     Dec 21, 2007
  6. cszulc


    Oh, this thread really brings me back to the great market in the late 80s.

    I remember opening an account up at Merrill Lynch, one of the best for a retail investor back then.

    Three great trades I just pulled up from old archives:

    Bought Compaq in jan of 88 at 20 1/4, sold in feb for 29 3/4 (regretted this as CPQ went to 80 that year, settled down to 65 by year end)

    On recommendation of my dad, bought BFX (Buffton on the AMEX) for 4 1/4 sold for 8 in october

    One of my favorites: Bought 100 shares IBM at 128 3/4 in Feb of 88 and sold at 162 1/2 in october

    I also remember (and pulled up) the first trade I made using a computer. I was at my broker's office (still Merrill) and bought 100 shares of American Express at 33 5/8 and then came back in May to place another trade to sell at 36 1/8.

    The most interesting part was commissions, $127.50 on the first and second, $165.00 on the third, and ONLY $75 on the last (great deal, huh?).
    #46     Dec 26, 2007
  7. I started actively trading in 1990-1991. I have done it for a living since 1997. My first trading rig was an Apple Color Classic using Linn Software's Ticketwatcher software hence, my screen name. The quotes came through a subcarrier of cable tv channel TBS. They were quite expensive, nearly three hundred month. BMI was one the companies I got quotes from. I used cell phones to increase my phone lines. One cell phone was dedicated to get call backs on executions. Brown and Co was my favorite broker before I went online in 1997-1998. It was fun back then and it is still fun today. The market will challenge you daily, and if you are not up to the challenge, too bad for you.
    #47     Dec 26, 2007
  8. Obviously there are lots of em.

    Wanna hear something funny? I used to call orders in to the pits, day trading, the big S&P pre '87 crash days. Often had a few minutes before I even knew what my fill was. Total insanity compared to now.

    Went bust on my first attempt. Imagine that?

    BTW, I am another guy that used FM transmission of data (Bonneville), and paid about $800 bucks per month for it! I thought I needed all the futures exchanges at the time.
    #48     Dec 26, 2007
  9. donnap


    Ditto on that . Thanks for the enlightening history.

    I'd been interested in trading since the '70s. But I didn't start 'til 2001 - when it got "easier."
    #49     Dec 26, 2007
  10. Just thought I'd mention that you could get quotes at home. I was getting realtime quotes via Quotron from a terminal in my home in 1982. It was a small terminal, only could show 5-6 at a time (as I recall) on the screen. If you wanted something that you didn't have on the screen, then you had to punch in the symbol and it gave you a "snap quote"....just a line showing the info.

    That little machine cost me $650 per month as I recall, in 1982. I could have gotten the bigger Quotron that you saw in the brokerage offices, but as I recall it was 1200-1400, which I didn't want to spend.

    I phoned my orders in to a desk in the S+P futures, the big contract at 500X the index. Commission was $15 to $20 roundturn, depending on who I dealt with. So compared to ES, the commish was $1.50-$2 roundturn. LOL. Cheaper than IB.

    Back in those days I charted everything by hand.

    #50     Dec 26, 2007