Larry Levin is a professional futures trader. He has
been in and around the S&P 500 futures pit at the largest futures exchange in
the world,the Chicago Mercantile Exchange (CME), for almost 20 years.
few of my friends were working at a 'financial exchange′; The Chicago Mercantile
Exchange; where futures contracts (also known as commodities) are traded.
I was lucky
enough to get a job as a runner with one of the biggest firms on the trading floor
back then; Lind-Waldock. The pay was $3.35 an hour (minimum wage at the time).
My job was simply to bring futures orders (pork bellies, Swiss Francs, T-Bills,
Etc.) I didn′t really understand what was going on around me when I
first started, but I learned fast.
my friends, trading doesn′t work that way. There is no business in the
world that can humble a man like trading the futures markets. In fact, I busted
out (or in other words lost all the money in my account) four separate times. But over time, I figured out what it takes to be successful trader.
It′s not what most people think.