How many pits are left operating? I know crude is one. Any link to which commodities their and open outcry session hours? I am thinking of not trading any longer in markets where HFT robots operate like stocks, ES and such. I am moving to commodities traded in pits. Any thoughts?
I don't think crude oil is a good place to hide from the robots. See this, for example: http://www.reuters.com/article/idUSTRE67O2QQ20100825
I can't think of any commodity thats not traded electronically - yeh sure some have both pit & electronic sessions but my dope says there is huge volume in electronic. Pit trading is becoming a relic like T-Rex & Gang
You can try butter to avoid robots - but noone trades it http://www.cmegroup.com/trading/agricultural/dairy/butter_contract_specifications.html
its old news- doesnt exist anymore- the comps took over- u need a " niche" like any business model- as time progrsses margins get tighter- everyone wants a bit of the action
LME was one of the later hold-outs. Now LME Select has blown that out of the water. Frankly you're probably better off fighting the robots than the LME locals... I think what sums it up nicely is that, you know when the Cambodian Mercantile Exchange has an electronic trading platform, you're pretty much f***** if you think you're going to find a pit-only traded contract worth trading...