Trading Resources
E*TRADE Baby Outtakes
Posted in Trading Resources on February 4th, 2009 by Emini Addict – Comments OffThe New ETrade Baby Commercial
Posted in Trading Resources on February 2nd, 2009 by Emini Addict – Comments OffThe Prop Trader is Back!
Posted in Trading Resources on January 27th, 2009 by Emini Addict – Comments Off
Upon graduating from NYU’s Stern School of Business over a decade ago, Peter Milman had no intention of going the traditional banking or brokerage route like so many of his peers. He just wanted to trade. Despite some tough years following the dot-com bust, the Russian immigrant is thriving more than ever, along with the rest of his industry. As the traditional investment banking and long/short hedge fund model craters, prop trading is the best gig going on Wall Street right now, assuming of course one can hack it.
Morning Call: January 27
The screens are crawling with red and green. But mostly red.
“What is this?”
The stock market is headed down again, as it was yesterday and the day before that. A 32-year-old trader named Peter Milman sits slumped under fluorescent lights in an open-air trading office on Madison Avenue, surrounded by men just like him: rows of traders in jeans and T-shirts and hoodies, faces slack, staring at banks of monitors that jump with charts and graphs and gauges, the only sound the tapping of computer keys—and the occasional expletive.
On this day in mid-November, President Bush is in Manhattan trying to reassure investors, but it doesn’t seem to matter. Treasury Secretary Hank Paulson’s announcement that he’ll scrap his original $700 billion bailout plan for financial institutions has sent the market into a tailspin. Milman’s monologue reads like an emotional ticker tape: “Fuck. Shit. Oh my God. Unbelievable. Oh God. Wow. Oh God. Wow, wow.”
And then, without warning, it happens: The market strikes an invisible bottom, the indexes reverse course, and stock charts head skyward. Perhaps it’s the glimmer of hope in the forthcoming meeting of the G20? Or plummeting oil prices? Milman doesn’t know why—or care. “Oh my God,” he says, whacking furiously on his keys, buying in as the market rises, then quickly selling off, over and over again, up, up, up. He leans off the edge of his seat now, like he’s trying to tilt the market to his will, a pinball wizard at the arcade. His monitor is streaked with green lines edging higher, his profit-and-loss gauge flipping numbers like a slot machine, punching up hundreds of dollars per second, point by S&P point—then thousands per second: green, green, green.
Trader Daily ? The Prop Trader is Back!
Morning Call: January 27
The screens are crawling with red and green. But mostly red.
“What is this?”
The stock market is headed down again, as it was yesterday and the day before that. A 32-year-old trader named Peter Milman sits slumped under fluorescent lights in an open-air trading office on Madison Avenue, surrounded by men just like him: rows of traders in jeans and T-shirts and hoodies, faces slack, staring at banks of monitors that jump with charts and graphs and gauges, the only sound the tapping of computer keys—and the occasional expletive.
On this day in mid-November, President Bush is in Manhattan trying to reassure investors, but it doesn’t seem to matter. Treasury Secretary Hank Paulson’s announcement that he’ll scrap his original $700 billion bailout plan for financial institutions has sent the market into a tailspin. Milman’s monologue reads like an emotional ticker tape: “Fuck. Shit. Oh my God. Unbelievable. Oh God. Wow. Oh God. Wow, wow.”
And then, without warning, it happens: The market strikes an invisible bottom, the indexes reverse course, and stock charts head skyward. Perhaps it’s the glimmer of hope in the forthcoming meeting of the G20? Or plummeting oil prices? Milman doesn’t know why—or care. “Oh my God,” he says, whacking furiously on his keys, buying in as the market rises, then quickly selling off, over and over again, up, up, up. He leans off the edge of his seat now, like he’s trying to tilt the market to his will, a pinball wizard at the arcade. His monitor is streaked with green lines edging higher, his profit-and-loss gauge flipping numbers like a slot machine, punching up hundreds of dollars per second, point by S&P point—then thousands per second: green, green, green.
Trader Daily ? The Prop Trader is Back!