Pretty intense...I like it! I'm not a trader, but active in investments and business, so I have a rudimentary understanding worse than a trader or "trader-adjacent" but better than the general public.
The first thing that caught me was "limit down." I think I know what that means, but it would be helpful to narrate what that is more specifically and how it happened to give some background to the drama.
The second was that he was short. How did he get there? Maybe that's a flashback. Describing what he did might help people who don't understand what shorting is and the limitations and risks in it.
If it's a book aimed at traders then these are unnecessary. If it's at regular people, it's necessary.
Just my cents on the technical. But I would read it! Great start!
please better define "limit down". We need more context, more references (maybe) to poker; more reference to the commodity itself (that has to have a life of its own).
I had misremembered on my fb comment....we used to scream to our clerks "WHAT AM I!!!!! WHAT AM I!!!. So that they had enough terror in their being to give you a correct answer. Short or Long and how many NOW...my feet were usually off the ground because of the pressure in the front month Euros on # days : O...miss it greatly and still dream about the pits to this day.
I agree with "Illinois Entrepreneur" regarding his comments about the terminology. I recommend a different approach that would be more universally appealing. Focus on one person and describe his day. Make the reader's b.p. go up while the protagonist is watching a position move against him. Write 2000 words in the morning and edit in the afternoon. Make the reader sweat.
Nice story Jeff. It brought me back so I could very accurately imagine what you were describing. The sweat coming down and with the hair dye running, wigs flopping, people spitting (not politically motivated), yelling, frothing just to get a trade.......good times, good times.
I enjoyed the story Jeff, but I could relate to it, because I was from it. Thanks for sharing it.
Just talking here - you present an insight into something we all know exists but have no good idea of how it works (commodity trading). A glossary is cumbersome. How about a three-generation story that starts w/the guy who produces the commodity and sends offspring to college where they prosper inside the system (not a risk-taker and not willing to work as hard as Dad). Their offspring is your protagonist - paying the price for choices made. You educate us to the process, give us the words/terms we need to understand how the only way out/through is by being a modern buccaneer - a commodity trader.
great story and excellent writing style. I could feel the intensity of the moment. as a trader that has never seen the pit, would definitely buy a book filled with these kind of stories
I traded but not in the pit, so all of this I understand and knew the players in the action as I was screaming into the phone with the arb desk if my order was filled. I don't know if the general population can grasp the complete story without more explanation.
Jeff, I enjoyed reading the chapter. If you are writing for wider audience than other traders, suggest that when you write athe next draft that you explain some of the trader's lingo to a non-specialist audience à la Freakonomics.
I am not a trader and like the story. "Limit down" caught my attention right away as needing to be defined. I would define all the technical terms as they come up the first time in the book as opposed to the first time in each given story. I would also have a glossary so the reader can find everything in one spot if necessary.
Pretty intense...I like it! I'm not a trader, but active in investments and business, so I have a rudimentary understanding worse than a trader or "trader-adjacent" but better than the general public.
The first thing that caught me was "limit down." I think I know what that means, but it would be helpful to narrate what that is more specifically and how it happened to give some background to the drama.
The second was that he was short. How did he get there? Maybe that's a flashback. Describing what he did might help people who don't understand what shorting is and the limitations and risks in it.
If it's a book aimed at traders then these are unnecessary. If it's at regular people, it's necessary.
Just my cents on the technical. But I would read it! Great start!
please better define "limit down". We need more context, more references (maybe) to poker; more reference to the commodity itself (that has to have a life of its own).
Would you want it in a glossary, included in the story somehow, or in an index?
I had misremembered on my fb comment....we used to scream to our clerks "WHAT AM I!!!!! WHAT AM I!!!. So that they had enough terror in their being to give you a correct answer. Short or Long and how many NOW...my feet were usually off the ground because of the pressure in the front month Euros on # days : O...miss it greatly and still dream about the pits to this day.
ha. "Do I Balance?" the cry of the spreader....
I agree with "Illinois Entrepreneur" regarding his comments about the terminology. I recommend a different approach that would be more universally appealing. Focus on one person and describe his day. Make the reader's b.p. go up while the protagonist is watching a position move against him. Write 2000 words in the morning and edit in the afternoon. Make the reader sweat.
Did you BP go up reading this or not?
My BP did not go up.
Nice story Jeff. It brought me back so I could very accurately imagine what you were describing. The sweat coming down and with the hair dye running, wigs flopping, people spitting (not politically motivated), yelling, frothing just to get a trade.......good times, good times.
I enjoyed the story Jeff, but I could relate to it, because I was from it. Thanks for sharing it.
Just talking here - you present an insight into something we all know exists but have no good idea of how it works (commodity trading). A glossary is cumbersome. How about a three-generation story that starts w/the guy who produces the commodity and sends offspring to college where they prosper inside the system (not a risk-taker and not willing to work as hard as Dad). Their offspring is your protagonist - paying the price for choices made. You educate us to the process, give us the words/terms we need to understand how the only way out/through is by being a modern buccaneer - a commodity trader.
Great idea
great story and excellent writing style. I could feel the intensity of the moment. as a trader that has never seen the pit, would definitely buy a book filled with these kind of stories
I traded but not in the pit, so all of this I understand and knew the players in the action as I was screaming into the phone with the arb desk if my order was filled. I don't know if the general population can grasp the complete story without more explanation.
I hope you do write a book and finish this story. These are the kind I enjoy reading for sure!
Great story Jeff yes can picture it and somehow still smell it
Jeff, I enjoyed reading the chapter. If you are writing for wider audience than other traders, suggest that when you write athe next draft that you explain some of the trader's lingo to a non-specialist audience à la Freakonomics.
I am not a trader and like the story. "Limit down" caught my attention right away as needing to be defined. I would define all the technical terms as they come up the first time in the book as opposed to the first time in each given story. I would also have a glossary so the reader can find everything in one spot if necessary.