We trade on FOREX foreign currency exchange. Instead of futures we deal with another financial instrument, but from the point of view of trading technology they don't have significant differences, thus all further comments concerning FOREX are equally applicable to the futures. I respectfully quote the author:
A professional trader should analyze the situation continously, he should be concentrated, attentive, and decisive. Can you do it behind the steering wheel?
Unfortunately, other things are also hard to do behind the steering wheel, scratch your back, for example.
Let us compare trader's work on FOREX or futures market over the Internet with the work in a dealing room, whose advantages are often mentioned by my opponent.
Generally speaking, in my opinion, it is best to trade "on the floor" through your own broker on all world currency exchanges with a deposit of a few million dollars. There is no time lag in this case, but it is cost prohibitive to many people. You can also establish a dealing center at home. If you install a satellite dish on your patio, pay Reuters Tenfore or CQG for their services, that would be around $1,500 a month, you could get a rather decent information system, lacking, though, the ability to participate in the trading directly. Traders don't usually spend that much. That is why we should face the reality and come back down to our wicked earth from heaven
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