| Topic Name: |
NYMEX vs. AMEX |
| Message Name: |
re |
| Date Posted: |
01/30/2003 |
| In Reply To: |
gastrader
Would you care to elaborate on why you think the NYMEX is a better exchange to start at. Does it prepare you better overall, more opportunities to make money, or is it simply a matter of interest. I am interested in commodities as well as equities.
I do agree that the AMEX will probably go fully electronic first.
Thanks for your input |
| Message: |
First, the NYMEX is in the process of rolling out a long list of new products (mainly NG basis products), although most will be traded on the screen. IMHO, being in a pit making markets is the best preperation for trading. You are forced to think on your own rather than depending on an excel model (i.e how to compute/estimate volatility in your head). As far as money it is difficult to say...You will make much less initially in the pits but as time goes on and you are successful you should do extremely well and you will have the opportunity to go out on your own, the ultimate goal of every "true trader" I have met. Yes I am biased but with program trading, etc...equity trading is more about deal flow than market making when compared to commodities. And for what it's worth, even though the energy industry is in terrible shape, I know many more equity traders looking for a job than those whose experience is in energy.
|
|
