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Jeff

Good traders in the pit see and hear everything, It's the things like volume, positions of other traders, expressions on peoples faces, order flow, and a host of other indicators a local has to watch.

Great post.

Jeff

The Financial Philosopher

Jeff:

Thanks for the insight on the trader pit. I imagine self-awareness and mindful attention to the present moment works well in almost any environment!

Thanks again...

David

Kent,

Funny that you should mention the trading pit and relaxing by people-watching.

When I used to commute to school in the city, I'd often take off if I was bored and head over to the CBOT on the way back to the train station. I loved to go up to the observation floor and just stare out on the trading floor below.

Never traded in the pits myself, but you might be interested to read the book, "The New Gatsbys", which is an excellent chronicle of life on the Chicago trading floors from the early days, up to the 1980s.

http://www.amazon.com/New-Gatsbys-Fortunes-Misfortunes-Commodity/dp/0688066712/

The Financial Philosopher

David:

Thanks for the recommendation of the book, "The New Gatsbys." I'm always looking for my next read and this book appears to be interesting...

Thanks again...

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There is no resting place for an enterprise in a competitive economy.

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