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Thanks, that's a good offer. At the risk of
boring the more experienced traders in the group .
. .
I have often heard that pit traders will on
occasion "run the stops". I understand what that
means, but I don't understand how a decision is
reached to undertake what would appear to be such
a concerted action.
Let's assume stops have accumulated at a certain
level. Naturally, the pit is aware of them. How
do you reach for those prices? How is that
implemented? Is there a kind of collusion that
occurs? (Sorry, that's a rather strong word.) Is
it a kind of instinctual surge in the direction of
the stops? Is it discussed, whispered from one
guy to the next: "Psst. Let's run the stops at
such and such. Pass it along."
Best regards,
Philip
spaman wrote:
> Regarding the pits and the goings on there, I
> must say I greatly
> preferred the CBOT to the Merc. I only traded
> the S$P snake pit for 6
> months before moving to the 'board of trade' and
> found the ethics there
> much higher. Customers for the most part were
> treated fairly. Of
> course the local trader has the edge in being
> able to see volume and
> identity of the buyers and sellers; and of
> course speed is an
> advantage. The pits are, however, occasionally
> wild places.....
> I'd be glad to address any specific questions,
> but my knowledge dates
> back to the 1980/s so there have been some
> changes....
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