When I was a local pit trader at simex(SGX-DT), there was never a holiday there. Today was a holiday for Japan, but simex nikkei is still open for business.
During Chinese new year, nikkei and all the interest rate pits will still be trading and you can see lion dance performance inside the pit right where millions of dollars exchange hands.
The pits are all closed now all thanks to the efficiency of our PC and super fast broadband internet. When I just started out trading, the internet is just in its infant stage. Fellow traders had to be glued to the quote screens(with very expensive monthly fee to subscribe) and calling the dealing room for quotes every now and then.
Now we have every quote in font of our home monitor, all it cost is the low monthly broadband fee. Trading is now just mouse clicking, no more using smelly telephones at run down offices.
Nikkei
sold 8750 closed at 8685
profit: +60 pts
Gold
bot 1822.2 closed at 1815.5
lost: -$6.7
sold 1816.1 closed at 1819
lost: -$2.9
sold 1811.8 1812.3(add to loser!)
closed out all short on 20 sept at 1783.2
profit: +$28.6 +$29.1
net gold profit: +$48.1
Euro
bot 1.3677 stopped out at 1.3640
lost: -37 pips
sold 1.3644 closed at 1.3670
lost: -26 pips
Corn
sold 685.5 stopped out at 686.5(I went to bed already)
lost: -1.25 cts
A commodities super crashing night(day for the Americans), looks like today going to net 2 big fishes.
yap, it cost about 2k just to get the live quotes at home. you still got to call in for your orders.
ReplyDeleteas i was trading the S&P and us bonds, chiness new year was never a holiday, well working holidays.
I never had the luxury of having a personal quote screen at home. Back then, I usually go outside to lau pat sat for dinner and then come back to office for the US commodities opening. Trading at night is cooling and relax, that's when I learn the ropes.
ReplyDeleteBtw my office was old and run down and all the telephones were smelly. The one and only dealer doesn't really send our orders to Chicago bcos I was trading a bucket shop.
haha neither do i. my quotes provided by my broker, using pager back then, its free. but most of the time we trade in our brokers office, whole banch of us looking at just 3 to 4 screens.
ReplyDeletenice to hear from you.