Old School Trading vs Modern Trading

[Doomberg]

Something what happened on friday made me realise how much we take for granted technology these days.... i placed a short on Dax on friday morning and was up +50 pips, just as i press close my internet goes off, and to make things worse i couldn't find the number of the trading firm (yes silly me) so i was ringing around mates trying to find someone near a computer to get the number from Google, eventually after ages i get through to someone and they give me the number but its too late i was down to +20 so i said leave it, i'll call back every 5 or 10 mins... so i called back it was +25 then +32.50 and then shortly after i was stopped at -25 O_O

And this made me think of back in the old days before the internet was big people didn't even have online platforms what so ever... i remember seeing a documentary about early forex trading and it was taking sometimes to 5 mins + to a fill an order and to check the prices they were just calling their broker every 5 minutes to see where they are at.

What do you think other than the above has changed over the years? Whats your views?

 

[0007]

I remember checking options prices on teletext - no internet live feeds in those days.

 

[Doomberg]

Yeah its crazy how much we have at our fingertips now, not that it makes it a walk in the park

But certainly more tools than 20 years ago, much more

 

[Gordon Gekko]

I remember my first trade about 10 years ago. Was staring at CNBC, thought the Nasdaq was going down (been falling most of the week), rang up Cantor Index for their quotes (in those days the advice was you shouldn't tell the broker initially which direction you were favoring in case they screwed you price wise) and then gave the broker my order "Sell Nasdaq £10 per point". Shat myself for an hour glued to CNBC. It dropped 20 points and rang them back up to close. Made £200. Lost it & a bit more the next day though.

 

[counter_violent]

LOL yep good ol teletext...was it updated every 15mins can't quite remember ?

Some days i was glued to it, changing pages and waiting for updates. Other times I would leave it alone for days or weeks. Funny how I only ever really made money on the leaving it alone periods

 

[barjon]

Ah, but your now't but a lad, cv

I go back to when brown bread were but five pennies a loaf and short term trading was "within the account", 3 weeks if memory serves. Trade outside that and mile wide spreads, sky high commissions and stamp duty meant you had to clear about 10% just to break even. And you had to draw your own charts - p&f was easiest.

You young turks have never had it so good (maybe). Or you could say that the industry has been constantly finding better and quicker ways to rid people of their money

jon

 

[neil]

Ah, but your now't but a lad, cv

I go back to when brown bread were but five pennies a loaf and short term trading was "within the account", 3 weeks if memory serves. Trade outside that and mile wide spreads, sky high commissions and stamp duty meant you had to clear about 10% just to break even. And you had to draw your own charts - p&f was easiest.

You young turks never had it so good (maybe). Or you could say that the industry has been constantly finding better and quicker ways to rid people of their money

jon

By 'eck, I were in a shop a few days ago and bought an item requiring change from a £5 note. The electronic till broke down and the young lady couldn't work out the required change. Also happened to me in Italy once last year:cheesy:

 

[gamma]

By 'eck, I were in a shop a few days ago and bought an item requiring change from a £5 note. The electronic till broke down and the young lady couldn't work out the required change. Also happened to me in Italy once last year:cheesy:

lol
Another funny scenario is when
Your bill comes to 10.23 and you give them 20.23.
Not only does it throw them but they actually look at you and say
"its 10.23 love , I don't need the 23p you're given me too much money"

 

[counter_violent]

short term trading was "within the account", 3 weeks if memory serves. Trade outside that and mile wide spreads, sky high commissions and stamp duty meant you had to clear about 10% just to break even.

---------------------------------------------

I had the stock broker account and thats right, I used to time entries/ exits based on the 3 week grace period before settlement date All good fun eh ! Don't forget also the multiple applications for things like BT I'm sure a few did that too !

Pssst If ya see Sid...tell him !

 

[Doomberg]

Lol my friend was in House Of Fraser and his bill came to £87 and he gave £100 in 20's and somehow the cashier (some teenage girl) gave him £260 in change, to this day i have no idea how that happened but he just casually said bye and walked out with the money, we were both baffled.

How many people would of said "scuse me love, you have given me more change than i need here" ?

I think i'd of just done the same as he did lol

 

[Trader 1]

Trading in the 1980s

http://www.youtube.com/watch?v=KACDo519ccY&feature=player_embedded

http://www.youtube.com/watch?v=ZLqe5Ao7zBE

http://www.youtube.com/watch?v=Dg074ZgNnEo

 

[gamma]

Lol my friend was in House Of Fraser and his bill came to £87 and he gave £100 in 20's and somehow the cashier (some teenage girl) gave him £260 in change, to this day i have no idea how that happened but he just casually said bye and walked out with the money, we were both baffled.

How many people would of said "scuse me love, you have given me more change than i need here" ?

I think i'd of just done the same as he did lol

lol
Similar thing happened to me in an Eastern bloc country, not such a huge amount thought.
When I tried to explain to the cashier girl that she had given me back too much change, due to the language barrier, she called the security guard, with whom the language barrier also existed and he became quite offensive,one of his words I understood was Polezi, by now a curious crowd had formed around me.Finally the manager came along and luckily spoke English and the problem was resolved.

Normally one would just walk out, but I know in a lot of Eastern Bloc countries the shortfalls have to be made up by the workers from their wages.

 

[Doomberg]

Lol if they were being so rude, i'd of just said "no problem" and walked out

 

[brettus]

Lol if they were being so rude, i'd of just said "no problem" and walked out

They probably thought he was trying to pay her for the bang boom.

 

[Doomberg]

They probably thought he was trying to pay her for the bang boom.

Lol but that would probably be perfectly normal in an eastern bloc country?

I live in Spain and even here you can sleep with a hot stripper for the price of a few dances :clap:

 

[JahDave]

Lol my friend was in House Of Fraser and his bill came to £87 and he gave £100 in 20's and somehow the cashier (some teenage girl) gave him £260 in change, to this day i have no idea how that happened but he just casually said bye and walked out with the money, we were both baffled.

How many people would of said "scuse me love, you have given me more change than i need here" ?

I think i'd of just done the same as he did lol

I paid for gas today and the young lady gave me $11 US too much back in change and I told her that she gave me too much change and returned it to her...........That is how I roll...........I will never take what I do not deserve if someone makes a mistake in my favor.............In my opinion, character is doing what is right no matter if anyone else knows or not........Most cashiers in the US have to pay out of their pocket as well if their till comes up short.......

 

[anley]

If you're trading where your average profits and losses are in excess of £200 then it really does pay to have a complete backup system with a different internet provider.

I know people who have their main connection with Virgin on one computer, a backup computer running a BT internet connection and a backup of the backup running an iPad on a 3G connection. Makes sense, the hardware will cost less than £1000 and another £20 or so a month for each of the internet connections. Plus the iPad can be used on the road, train etc.

Ultimately it's all about setting yourself up properly as this is a serious game.....

 

[taozemin]

what is the dreaming intraday trading strategy you are using?
pls. clear out the followin contents:
1.the time frame used.
2.the technical indicators used.
3. the skills / secrets or experiences with the technical indicator.
regards.