Please tell me what are the benefits being on the floor ( exept for being payed for order flow ). I think with the technology of today there is no advantage being on the floor .
You get to see the traders necks get real tight inside their collars, when their trades aren't going right. arteries start bulging, faces get red.
not for small fries like you and me seriously, you get to see what the specialist is doing to the order flow, like is he driving up the stock so his buddy can sell it and so he can short it with the sell? you can only see low life extortion like that on the floor. If you are behind a computer all you can do is curse his mother and snap your keyboard in half and tell the guy next to you that you had no idea that the moron was going to do that. but on the floor you can see who his butt buddy is and join in on his gay party!!!
I would think on the floor you pay for order flow, versus getting paid for it (as the brokerage houses do).
no it is the intro to my autobiography and the conclusion is "and he went to sleep and dreamed of trading on the floor so he could maximize his profits rather than popping rolaids behind 5 computer screens"
Nasdaq is a bunch of dealers and marketmakers you acnt see anyone so ideally no one has the advantage unless you have $100 million in BP and then you are the 800 pound gorilla and But I am sure orders are put through the NASDAQ marketmakers and they can play off the order flow Futures are totally different, in that arena everyone has a ton of BP and if you try to screw with them they will bury you (please I hope I am wrong)
Iceman what do I really think? Do I really think that the specialist is out to screw me and help out his buddy while making a profit in the process? well the answeris obviously yes! but the question here is : "what do you think?"