Monday, December 21, 2009

From the Pit to the Screen!

I am disturbed that many of the floor traders have had a difficult time trading on the screen. In fact, many traders are considering leaving the business because the transition they say is too difficult. Floor trading was difficult for many when they became traders on the floor. However, most traders have forgotten how much time it took to launch a floor trading career. I don't believe floor traders need to give up their passion or their career. Floor traders need to understand that learning to trade on the screen is like learning to hit a curve ball, if you have been a fast ball hitter. Learning to hit the curve ball takes diligence, time and patience. Gauging the speed of the curve ball and or gauging the distance of the curve all takes time, possibly years. Of course, the experience of failing is painful, but at the end of the day it is worth the effort. In time, with the appropriate execution screen, with the appropriate pricing of the screen, with a trading strategy , and finally trading any other commodity other than the commodity traded for years, for decades on the floor, one can become a successful screen trader. How much time? Each trader is different. Thus, progress will be commensurate with a traders patience, perseverance, and a strong desire to succeed.