We take many things for granted here in 2016. There are a myriad of ways to trade thanks to apps ranging from ThinkOrSwim to Robinhood supported by the advent of wifi and high-speed internet. Charting and screening tools allow for detailed analysis of securities with the press of a button. The markets can move at a blazing pace for every security out there, and we have the benefit of precise stock pricing to the decimal.
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Description
We take many things for granted here in 2016. There are a myriad of ways to trade thanks to apps ranging from ThinkOrSwim to Robinhood supported by the advent of wifi and high-speed internet. Charting and screening tools allow for detailed analysis of securities with the press of a button. The markets can move at a blazing pace for every security out there, and we have the benefit of precise stock pricing to the decimal.
None of that was always the case, though. It’s easy to forget the internet is a relatively new invention in human history, with its implementation for basic stock trading being as recent as the early 2000s. Before that, the trading floor was handled by what was known as open outcry where a trader had to physically find a person on the floor to take the other side of a trade (think the end scene in Trading Places). Even decimal pricing, which allows for precise pricing of securities, wasn’t implemented until as recently as 1999 in the NYSE.
Join us in this episode of Trading Justice as Matt goes back in trading history with 30-year trading veteran trader Keith King as they talk about how it was, what the changes were like, and how it is now.
Notes
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