Re: Ask mrbaseball about trading for a living
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Would love to hear some funny/entertaining stories from your days on the floor
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I'll have to think on that? Most of them are "you had to be there" type of stuff. We used to refer to the floor as Thunderdome. The pit I spent most of time in (bond options) was probably the most crowded imagineable. 300 guys all crammed in nut to butt all belching and farting and sweating and spitting on each other all day long. All the other pits guys were shoulder to shoulder but we had too many people and too little space.
I would also like to add there are all kinds of "trading". Market makers are in and out or in and hedged. I was never really sure what that guy on the other end of the phone was doing? I am uncertain what it's like to be a bank trader or a hedge fund trader. At first I was concerned that on all of the trades I was taking the other side of were from Goldman and Merrill and Soros and Salomon etc. etc. etc.
But that is the nature of the market maker. The big boys are willing to pay the edge to get their hedge or trade on.
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