It was very interesting to read the comments from the first video of this series on Floor Traders. For some readers, their image of the floor trader was dramatically altered by viewing that video.
That’s a good thing.
One of my goals in sharing this series is to pull back the curtain on them because I found that many retail traders have the wrong impression of who is (or was) trading on the floors of the exchanges.
They have no super powers and they are not necessarily better than you. So don’t be intimidated by them.
My own first eye-opening experience when I visited the Chicago Mercantile Exchange was how these people were not so different from you and me at all.
I live in the Los Angeles area, and here it seems like every waiter and bar tender is a current or former “actor.”
What I found as I participated in the night life of Chicago was that many of the waiters and bar tenders there were current or former “floor traders!” That really shocked me.
Most of them failed miserably, not unlike most retail traders around the country (and world).
Of course the most successful traders (the vast minority) are very special people. They are very disciplined and treat trading like a businessÂ – but that holds true of screen traders as well.
Anyway, I’ll save more regarding that topic for another post.
In today’s video you’ll get another insider look into what it’s like to trade in the pits. In this video floor traders at the Chicago Mercantile Exchange are asked the following questions:
- What do you remember best about your first day at the Merc?
- What’s the funniest moment you remember at the Merc?
- What’s the scariest moment you remember at the Merc?
- Who is the most famous celebrity you remember visiting the Merc?
Enjoy and click on the “comments” link to leave your comments.