I HAVE COME TO THE CONCLUSION THAT TRADING ON THE SCREEN WILL NEVER BE PROFITABLE. I traded on the floor in the pit for 8 years with profit trading up to 50 bigs which is 250 minis i made alot of money trading in those times now on the screen have lost almost everything trying the same. I think mostly fools think of profit on the screen. Most of my trading friends agree with this comment BEST OF LUCK TO YOU ALL....HOPE YOU HAVE DEEP POCKETS YOUR GOING TO NEED IT
Absolutely not true.......find what tools you can use to analyze the ORDER FLOW and THEN you have something to work with.......follow those "commercials"!!!
Here is one CME (IOM) member making some decent coin off the screen and this from only scalping (from a new thread here at ET)........ http://www.elitetrader.com/vb/showthread.php?threadid=165989
There are many guys that were able to adopt from the pits to the electronic market. The market is more liquid and efficient, so perhaps the same opportunities do not exist as in the pit from 1980s and 1990s. It's not as simple as stepping in and buying some cars before you see that GS' broker is coming to buy the sh!t out of it whatever based on his body language.
THAT IS ALL WHAT THEY CALL BS HEY I MADE 1,564,876 LAST YEAR IN THE MEAN TIME THEY ARE RUNNING CLASSES AND WORKING THE DELI DEPT MAKING SURE THE MEAT IS GETTING SLICED THIN...I BEEN AROUND AND THERE IS ALOT OF 30K MILLIONAIRES OUT THERE WITHOUT A DIME IN THERE POCKETS...HAVE TRIED THE SYSTEMS MY OWN THEIRS AND HERS AND HIS SYSTEM THEY DONT WORK THANKS BUT NO THANKS
GOOD THOUGHT JUST MAKE A MOVE AGAINST A BILLION DOLLAR FUND AND YOUR 10K ACCOUNT IS GETTING RUN DOWN WITH THE LIQUID AND EFFICIENT MARKET BEST OF LUCK TO YOU AND YOUR OPPORTUNITIES.....
check the pnl thread.... i personally know some former cme/cbot traders and most have had great difficulty switching to the screen. but there are two that i know who have made the transition successfully. from what they have said, it requires an entirely different strategy....on the floor you not only see order flow but also can feel panic and know when its just locals pushing it around vs directional buying/selling....on the screen you have none of that, even with a pit squawk and delta software, scalping off the screen is virtually impossible over the long haul. i learned on the screen so i dont have the same baggage that a local might have. i had other obstacles to overcome.
Tell us you acronym from the floor days- 50 up is a pretty decent amount...probably not too many traders who can say that...