The Work of Wall Street An Account of the Functions Methods And History of the
The Work of Wall Street An Account of the Functions Methods And History of the
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The same business would cost an outsider $12. 50.
Boom Traders. There is another class of mem- bers who are known as "Room Traders. " These do not execute orders for others, but buy and sell for their own account alone. Most brokers specu- late for their own account to some extent, al- though many make it a rule to confine themselves to a THE NEW YORK STOCK EXCHANGE 137 strict commission business. But Room Traders are pro- fessional speculators, who act at the same time as prin- cipals and agen...ts that is to say, they execute their own orders. There are between 50 and 100 of these Room Traders who enjoy the privilege of being all the time on the floor of the Board-Room, and thus able to take advantage at once of every opening. They know the prices 'even before they are recorded on the tape, and they are able to join in every upward movement the moment it begins, and to abandon it the moment it shows signs of wavering. They are in and out of the market perhaps a dozen times a day. They constitute an important element in it.
What to read after The Work of Wall Street An Account of the Functions Methods And History of the?
You can find similar books in the "Read Also" column, or choose other free books by Sereno Stansbury Pratt to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The same business would cost an outsider $12. 50.
Boom Traders. There is another class of mem- bers who are known as "Room Traders. " These do not execute orders for others, but buy and sell for their own account alone. Most brokers specu- late for their own account to some extent, al- though many make it a rule to confine themselves to a THE NEW YORK STOCK EXCHANGE 137 strict commission business. But Room Traders are pro- fessional speculators, who act at the same time as prin- cipals and agen...ts that is to say, they execute their own orders. There are between 50 and 100 of these Room Traders who enjoy the privilege of being all the time on the floor of the Board-Room, and thus able to take advantage at once of every opening. They know the prices 'even before they are recorded on the tape, and they are able to join in every upward movement the moment it begins, and to abandon it the moment it shows signs of wavering. They are in and out of the market perhaps a dozen times a day. They constitute an important element in it.
What to read after The Work of Wall Street An Account of the Functions Methods And History of the?
You can find similar books in the "Read Also" column, or choose other free books by Sereno Stansbury Pratt to read onlineMoreLess
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