Quote:
Originally Posted by STA654
Are floor trader positions really dying off?
Zimmer, what are your long term plans if this is the case?
They're kind of slowly dying off. There really isn't much High-Frequency stuff in options trading because it is a lot more complex so you can't do a ton by just setting it to automated trading. Some of it in the CME Options trading is just due to low volumes right now which I think will pick up eventually, but I can't guarantee that.
I think the downfalls of HFT outweigh the benefits and I think it needs to be highly regulated. The systemic risks it introduces are a huge factor, especially as every market seems to be more correlated than ever nowadays.
If there's no more jobs to be had trading then I would probably find a different line of work I guess. I wouldn't like it as I'd probably prefer at this point to just do trading until I retire. Wouldn't be anything new, I was playing poker professionally until Black Friday, then got a sales job in financial planning, then found my current job. I feel like as long as I don't get fired with cause or anything like that, then I should be able to find a different job.