Early in my career on the floor, I wanted to be a big trader.
The big traders on the floor were respected and all of the new traders, like me, wanted to be like them.
In fact, there were sound reasons for wanting to be a big trader.
If a broker came into the pit to sell a hundred contracts, he wouldn’t split it 2 to you and three to me and seven to someone else – he would sell 25 – 25 – 25 – 25 to four different traders. Unless you were willing to take 25 contracts you were locked out of the trade. If you wanted the best trades, you had to trade in size.
Additionally big traders on the floor were treated like celebrities.
Even the girls on the floor would flirt with the big traders, but not even notice the small traders – such was the power of being a big trader on the trading floor.
So starting my trading career in this kind of a setting,
