what is stock broking about? what are they doing? is it shit tier?

>>996693
It appeals to a higher form of degenerate gambler. Commodities trading is the best (and most dangerous drug) I've ever come across.

Buy and sell lots of stocks at great prices.

What "great price" is depends on the institution. There are different performance evaluation methods.

>>996696
what does the numbers mean and the reason they call people?

>>996698
It's prices shifting. They're trying to find buyers/sellers. Check out this documentary it explains the chaos of the pit pretty well:

https://www.youtube.com/watch?v=tCcxr-fyF4Q


Sadly these days are mostly gone with the rise of robotrading.

>>996698
what the fuck is this question lmao

>>996693
people with money tell guy x to buy company a
guy x then tells his guy y that at price x to buy x amount of shares of company a
guy y is looking for someone that will sell to him x shares of company a at price x

>>996702
Doesn't everything go via computers and the internet nowadays?

>>996711
Not everything but largely. That's what I was referencing when I said robotrading.

There's still a commodity pit in Chicago that is active though. It's hard for the old guys to trust computers. Hell, it's hard for me and I'm only 30.

>>996697
no they just buy and sell at the current market price at that time

>>996693
it is a sales job

it is a bit pointless these days with the advent of online brokerages

some might claim to offer research/advice - it is mostly worthless... some will offer discretionary portfolio management where you basically just entrust your portfolio to them in return for an annual fee instead of paying commission on each deal - essentially they can act like mini-fund managers there

but mostly it is just a sales/account management role and a fairly pointless one

>>996702
those are floor traders in Chicago - that has nothing to do with stocks or being a stock broker

>>996734
Some people still like traders who don't use and abuse algorithms. On a whole it's a safer practice but it also can't make those decisions that a human can, both for better and worse.

There's still a place for both. Whether that will be the case in another decade remains to be seen.

>>996735
OP's question was about the pit. What they were doing and why. The logic is the same.

>>996738
no it, wasn't he asked what stockbroking was about

the logic isn't the same

a stock broker is a sales person who provides advice and executes orders for retail clients in equities markets

a Chicago floor trader puts his own money at risk speculating in futures markets

some are employed by large institutions in an execution role too

the skill set is completely different - the stockbroker is a salesman essentially

>>996750
In his original post. What started this whole line of conversation was this post: >>996698

>>996755
so again not mentioning anything about floor trading or futures markets....

he asked why they call people - erm because it is a sales role

>>996760
I'm not disputing that. But again it was pretty clear we were talking about Commodities at that point.

And not every commodities trader is using his own money in the pit for the record. It's just the best way to make (or lose) the most money.

But yes, in either case it's a sales role.

>>996761
at no point did he ask about commodities

he asked what a stockbroker was and you linked to a youtube video about floor traders trading futures

pretty much every stockmarket is now electronic

Retail brokerage is trash.

Institutions still trade $100 million blocks of stock the old fashion way. Phone calls and negotiated prices. Institutional brokerage is the tits.