FWIW, my brother and I can't trade without listening to Ben... as old floor traders, the information he passes along is really valuable after you know how to use it. Most newer people only "hear" noise...we hear a lot more. Levels, news, buyers and sellers (with levels)...and once you figure out who is right during different time frames (more often than not)..it helps. (Hint: listen for "number one" near end of day). But, I do have some traders who really lock themselves in their own world to trade as well.... to each his own. ' Don
Are you receiving any compenstation (financial or not) for this testimonial? Full disclosure always good with these kinds of testimonials. thanks. i will check it out.
Absolutely not, LOL...in fact I pay him quite a bit every month... good value. I even pay his hotel rooms to come to our Bright Trading retreats so he can enlighten our traders. He has been a big hit, especially with our top people. (I rarely "endorse" anyone...especially when asked)... Again, FWIW Don
So the fact that we've gone electronic hasn't made squawk a bit 'redundant' as the brits say. Do they see the Crays and the Co located boxes coming , same as the clown from 'goldie'? yeah
It's actually pretty interesting...since they have half the pit electronic and half open outcry...Ben can see several groups of major players.....I was there a few months back...pretty informative IMO. (Again, not a plug...just saw the thread). Don
Note: The squawk from the pits is definitely not for the new, inexperienced trader. It will only heighten his emotions and make him react accordingly. Trading with emotions = loss of $$ I trade ES fulltime and do not see any real advantage of listening to pit squawk. Tried it, all it did was give me a headache. Reading PRICE ACTION and knowing fundamental market bias is all you need..... P.S. As if I didn't have enough market chatter to cause ringing in my ears from CNBC...... Could you imagine Rick Santelli giving play by play in S&P pits? Like listening to a crow high on crystal meth.. LOL
I'll take you word for it that there's still value added to a squawk, since I don't use it myself. One would have thought that since more trade is computer generated and MUCH faster than it used to be it would be less useful.
If you're getting ben pin pointing commercial buying and selling from the pit it can be worth listening to. It means more when you have levels or recognize where trades are likely to occur. And occasionally ben will emphasize large traders covering or occasionally caught long or short and are trying to push the mrkt in one direction or another to get a better price. If you're just listening to pit noise that's not as revealing...especially to someone who has never traded on the floor. Traders get just as excited over two guys fighting as anything. As for Don Bright hyping a service, he doesn't need to. His office floor is probably paved with gold bricks ~(
(No gold bricks, nice idea however, LOL). We hear the hard numbers a couple of seconds before they hit the tickers most of the time....also, Ben can pretty much tell the overall positions of the locals who then try to "push" direction of the big contract in one direction or another...(not that they always "can" or "could" - but try nonetheless). He's quick with the economic numbers etc. as well.... All in all, we find it a valuable tool...one of many. Don