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"Floored," the documentary on Trading Pit opens in Chicago this week


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"Floored," the documentary on Trading Pit opens in Chicago this week

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  #1 (permalink)
 goldilocks 
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Chicago’s open-outcry nostalgists can now watch their slow- motion obituary on film. “Floored,” a documentary that premieres in the city tonight, captures the fading swagger of its exchange pits as electronic trading takes over.

Here's the article:
Trading-Pit Glamour Dims as Computers Ascend in Film (Update1) - Bloomberg.com

more on the documentary: http://flooredthemovie.com/community/

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 AlOv 
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Interesting film.
We in Russia waiting for him with impatience.

Sorry for my English.

There are no borders - there are only obstacles...
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 Big Mike 
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I'm looking forward to it. I enjoyed " Wall Street Warriors".

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  #4 (permalink)
daedalus
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Anyone know if there is going to be a nation wide release? I've been waiting to see this film for over a year.

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 David_R 
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goldilocks View Post
Chicago’s open-outcry nostalgists can now watch their slow- motion obituary on film. “Floored,” a documentary that premieres in the city tonight, captures the fading swagger of its exchange pits as electronic trading takes over.

Here's the article:
Trading-Pit Glamour Dims as Computers Ascend in Film (Update1) - Bloomberg.com

more on the documentary: http://flooredthemovie.com/community/

I saw a preview showing in San Francisco last week. The director was there to answer questions after they showed the film.

I enjoyed the film. When it was over I found myself wanting to see more.

There are some very interesting characters in the movie. When I say characters I don't mean actors. The traders in the movie are real and some are successful and some are not. I think there were a number of floor traders at the movie and its safe to say that they are not fans of electronic trading. Some think the computer is the most evil thing ever invented.

If you have an opportunity to see it I recommend it.

By the way, even though its not real, I'm looking forward to the Wall Street sequel with Michael Douglas aka Gordon Gekko. I think that's his name.

David

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 David_R 
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I don't believe it will be released the theaters, but I could be wrong. The director was saying that they were targeting April for DVD and other types of releases.

David

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owend19
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Thanks for the heads up, sounds like a great movie I'll have to check it out. Any idea when/where it's running in Chi?

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 AkLio 
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Floored


https://www.babelgum.com/floored/

Enjoy....

Lio

A world that's more riot than profession, the trading floors of Chicago are a place where gambling your family's mortgage is all in a day's work. Floored offers a unique window to this lesser-known world of finance. These men may not have degrees, but they've got guts, and penchant for excess that solicits simultaneous feelings of revulsion and admiration. But like many aspects of our economy, technology is changing the way these traders do business, and these eccentric pit denizens aren't the type to take kindly to new tricks. Check http://www.babelgum.com/floored for more info

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 syxforex 
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FUN FUN FUN, HIGH DEF HIG VOL FUN

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 Big Mike 
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Thx AkLio. I'm trying to find a .mkv or mp4 of it so I don't have to watch it on the computer. It doesn't seem to be on Netflix yet, and a quick search on btjunkie seems to kick back fakes

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 syxforex 
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Big Mike,

Is it safe to download movies from btjunkie? Aren't you worried about viruses and hackers and what not?


Big Mike View Post
Thx AkLio. I'm trying to find a .mkv or mp4 of it so I don't have to watch it on the computer. It doesn't seem to be on Netflix yet, and a quick search on btjunkie seems to kick back fakes

Mike


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 Big Mike 
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syxforex View Post
Big Mike,

Is it safe to download movies from btjunkie? Aren't you worried about viruses and hackers and what not?

No I highly recommend you don't do it

Mike

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 AkLio 
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Watch it over the internet for free
FLOORED | Babelgum

Buy it for a little more than the price of one tick
Floored - The movie



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 mainstream 
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Great stuff, hope you break through with the film!

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 syxforex 
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Cool, watching it now, thanks!


AkLio View Post
Watch it over the internet for free
FLOORED | Babelgum

Buy it for a little more than the price of one tick
Floored - The movie




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 Fat Tails 
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When you have already seen "Floored" several times, here is an alternative.

Film Trailer for Broke: The New American Dream

Attached Thumbnails
&quot;Floored,&quot; the documentary on Trading Pit opens in Chicago this week-broke_poster_lores_all3.pdf   &quot;Floored,&quot; the documentary on Trading Pit opens in Chicago this week-broke_poster_lores_all5.pdf  
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 zxxaxz 
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AkLio View Post
Floored


FLOORED | Babelgum

Enjoy....

Lio

A world that's more riot than profession, the trading floors of Chicago are a place where gambling your family's mortgage is all in a day's work. Floored offers a unique window to this lesser-known world of finance. These men may not have degrees, but they've got guts, and penchant for excess that solicits simultaneous feelings of revulsion and admiration. But like many aspects of our economy, technology is changing the way these traders do business, and these eccentric pit denizens aren't the type to take kindly to new tricks. Check http://www.babelgum.com/floored for more info

Now read that out load Alan Whicker style. YouTube - Whicker's World - Monty Python

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 Turtrend 
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Fat Tails View Post
When you have already seen "Floored" several times, here is an alternative.

Film Trailer for Broke: The New American Dream

I haven't seen the movie yet, but Covel's "TREND FOLLOWING" is one of my all time favorite books.

Can't wait to see the movie.

Interestingly, Covel has a course out too.
I suspect one can construct a well enough trend following system with a free SUPER TREND indicator though.

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 tigertrader 
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As we used to say on the floor - "Hey, computerize...this!!!"

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stang3O2
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Does anyone know the story behind Greg Riba? He was by far the most interesting interview in the film and he says cut before we hear what happened to him.

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 ThatManFromTexas 
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stang3O2 View Post
Does anyone know the story behind Greg Riba? He was by far the most interesting interview in the film and he says cut before we hear what happened to him.

Greg Riba, rests his bare feet on his pool table under an original Picasso, swallows a glass of wine in one gulp, and slurs: "I #$%&*@ a Playmate. Isn't that what every guy's #$%&*@ dream is?"
Riba left the Merc under circumstances he wouldn't discuss with Smith. (from an article about the film)

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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stang3O2
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ThatManFromTexas View Post
Greg Riba, rests his bare feet on his pool table under an original Picasso, swallows a glass of wine in one gulp, and slurs: "I #$%&*@ a Playmate. Isn't that what every guy's #$%&*@ dream is?"
Riba left the Merc under circumstances he wouldn't discuss with Smith. (from an article about the film)

Thats the guy but I want to know what those undisclosed circumstances are

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Slack
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So close, but no cigar. Some good stories though Stories from The S&P options(Chicago Merc) - Page 2 - Business, Finances and Investing Forum

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 pengi 
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stang3O2 View Post
Does anyone know the story behind Greg Riba? He was by far the most interesting interview in the film and he says cut before we hear what happened to him.

He was my favorite trader from the movie! Very interesting, such a character. It seems he was the most successful person they interviewed, and really understood how to trade. It was a shame the interview got cut short. I found his "rap sheet" here:

https://www.nfa.futures.org/basicnet/CaseInfo.aspx?entityid=0249578&type=reg

I guess he came back and got into a big fight with another member... probably when he quit trading.

FINDINGS: Pursuant to an offer of settlement in which Riba neither admitted nor denied the findings, on October 28, 1999, a Special Hearing Committee of the Board of Directors (“Committee”) found that on January 25, 1999, Riba returned to the trading floor after a 14-month absence and established a 247-contract S&P 500 futures position without notifying his clearing firm of his return. Before officers of his clearing firm clarified the situation, Riba began acting erratically and became physically abusive towards another member, which disrupted trading. The Committee found that in so doing, Riba violated CME Rule 433.c, a minor offense.

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 madLyfe 
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AkLio View Post
Floored


https://www.babelgum.com/floored/

Enjoy....

Lio

A world that's more riot than profession, the trading floors of Chicago are a place where gambling your family's mortgage is all in a day's work. Floored offers a unique window to this lesser-known world of finance. These men may not have degrees, but they've got guts, and penchant for excess that solicits simultaneous feelings of revulsion and admiration. But like many aspects of our economy, technology is changing the way these traders do business, and these eccentric pit denizens aren't the type to take kindly to new tricks. Check http://www.babelgum.com/floored for more info

this web page doesnt seem to be working for me.. ive never seen this movie..

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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 YuvalW 
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You can find the film on YouTube in full length.

Sent from my SGH-T959 using Tapatalk

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 steve2222 
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YuvalW View Post
You can find the film on YouTube in full length.

Sent from my SGH-T959 using Tapatalk

Also on Netflix when I last looked

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 Fat Tails 
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madLyfe View Post
this web page doesnt seem to be working for me.. ive never seen this movie..


The babelgum link is broken, but you can find an authorized version here:



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 wldman 
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This makes me pretty sad, reticent at least. A lot of those guys and many of the casualties where friends and people I knew. This movie is pretty close to my experience I think most chicago floor guys would agree as well, that this is an accurate presentation. I think I was greatly helped by being a nasdaq market maker and learning the screen first, then proceeding to the floor. Funny the guy that taught me had as his first job the duty of erasing and replacing quotes that where displayed on a slate chalkboard.

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 wldman 
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The scene with Joe Howe from Jack Schwartz walking...that is the street I live on. He is walking home from the train.

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 tflanner 
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watched this awhile ago. I started working on the floor in the summer of 1983 (full time 1987). I worked at the CBOT as a broker for several large Wall Street firms and then as a curve trader on the screen from 2001 until 2011.

The floor was an amazing place to work. The floor was built by individuals who took incredible risk. The amount of size some of these locals traded was nuts. I dealt with a lot of well educated NY traders and they would have never survived trading their own capital on the floor.

The "Chicago trader' has had to deal with 2 dramatic changes. The first was the from pit to screen. I and a good chunk of my friends were able to make this transition (and prosper). The second was the emergence of HFT's. This change has wiped another huge wave of traders. I feel the HFT's took over during and after the '08/'09 financial crisis and the mkt has never been the same.

Finally, one unfortunate thing about extinction of floor trading is the amount of jobs that were lost by clerks, order fillers etc..these were well paying jobs that are never coming back...One thing about the markets is that nothing lasts forever...change or get out.

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 Cloudy 
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Thanks for sharing your enlightening and confirming story. I completely agree about HFT taking over since '08. There is so much tech infrastructure today behind big money HFT. Last month there was a short passing report on co-located HFT relay offices set up in Washington D.C. near the gov't offices that report highly watched reported economic numbers, and they keep reporting low retail volume on CNBC.

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 kronie 
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wldman View Post
This makes me pretty sad, reticent at least. A lot of those guys and many of the casualties where friends and people I knew. This movie is pretty close to my experience I think most chicago floor guys would agree as well, that this is an accurate presentation. I think I was greatly helped by being a nasdaq market maker and learning the screen first, then proceeding to the floor. Funny the guy that taught me had as his first job the duty of erasing and replacing quotes that where displayed on a slate chalkboard.

@wldman - sentiments exactly also,


I had a few sages, who dropped knowledge on me in the early years on Wall Street and on the American Stock Exchange Options floor....


One old guy said two wise sayings that still stay with me:
((over time, I have had to explain these, with added words, because we spoke internal traders shorthand, the longhand versions are shared below))

1) don't ever show your politics or political leaning, especially not on the floor because they will flip you faster than you can ever imagine, because they know where your sentiments and approach towards taking trades (positions) will be... relative to the news events

2) you want to pay as much taxes as you can! Because that means you made it, and you succeeded that year, and you're on your way. Don't chase after all these leeches (accountants, referals, schiesters, etc.) trying to distract your primary focus, namely making successful trades in your account(s).


words to live by and succeed long term, as a trader


and for that old timer, I still tip my hat (in rememberance and sharing his sage wisdom) to!

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 Itchymoku 
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I just watched this documentary again and each time it gets better.

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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 wldman 
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@kronie

I remember during my first week on the floor on guy asking me, "hey wld, what % do you put in your 401k every month".
I was a new guy to him but had been trading and earning for a while so I didn't fall for the trick question. You knew when other guys listened to small talk that it wasn't small talk. So I responded that I had not made a 401k contribution after February in ten years. They moved on to something else pretty quick.

Nobody ever told me the one about personal politics revealed in how you respond to gubment #'s. I learned that the hard way, just as you mentioned. Guys with their jibber jabber got under my skin and got me to flip or scale down into the numbers....more for them.

As weird as it is to say, If the floor was back like the heyday I'd go back down there Monday. I hated it but I love it at the same time.

Also, kinda funny when guys talk about the $ amount in taxes and deductions and accountants and lawyers...they where not aware that after a certain point did not matter what you did. The really big guys never had any idea about any of that. ALL of there focus was the next trade.

I miss it kronie...and I cant believe I'm even typing with an AMEX scum bag real market carper. You and I have to be sworn enemies!

DB

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 kronie 
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@kronie

I remember during my first week on the floor on guy asking me, "hey wld, what % do you put in your 401k every month".
I was a new guy to him but had been trading and earning for a while so I didn't fall for the trick question. You knew when other guys listened to small talk that it wasn't small talk. So I responded that I had not made a 401k contribution after February in ten years. They moved on to something else pretty quick.

Nobody ever told me the one about personal politics revealed in how you respond to gubment #'s. I learned that the hard way, just as you mentioned. Guys with their jibber jabber got under my skin and got me to flip or scale down into the numbers....more for them.

As weird as it is to say, If the floor was back like the heyday I'd go back down there Monday. I hated it but I love it at the same time.

Also, kinda funny when guys talk about the $ amount in taxes and deductions and accountants and lawyers...they where not aware that after a certain point did not matter what you did. The really big guys never had any idea about any of that. ALL of there focus was the next trade.

I miss it kronie...and I cant believe I'm even typing with an AMEX scum bag real market carper. You and I have to be sworn enemies!

DB

perhaps, back then, but certainly not now,
this individual effort challenges even the brightest minds to the dullest, because we're all up against the HFT's and auto-bots...

Seems the Transformers meet the Fockers... now that's a movie script.. you can see it now:

here's Mama Focker
Papa Focker
MarySue Focker
GrandPah Focker
Bubba Fucker


(() I can't type anymore...)

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Pedro40
Pittsburgh, Pennsylvania
 
 
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tflanner View Post
the amount of jobs that were lost by clerks, order fillers etc..these were well paying jobs that are never coming back...

1. If a machine can do that job, why shouldn't it? At most intersections we still could have traffic controllers, instead of stop lights. Imagine how many jobs could be created.
2. Where did the money come from for paying for those jobs? I guess eventually from the investors...

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 tflanner 
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Pedro40 View Post
1. If a machine can do that job, why shouldn't it? At most intersections we still could have traffic controllers, instead of stop lights. Imagine how many jobs could be created.
2. Where did the money come from for paying for those jobs? I guess eventually from the investors...

I never said the machine shouldn't do the job. Pedro, I just stated a fact. Never said it was right or wrong. It happened and you move on.

I lost a over a $100k job in 2001 (on the floor) with a Wall Street firm. it stunk, but it turned out to be a blessing. I was able to have a very nice run trading from 2001 to 2011 and saved enough to be in a very good financial position today. I turned a negative into a big positive.

In any career you are going to have ups and down and a lot of change. I happened to have a significant up for a lengthy time and at present I have a bit of a down. I'm a fighter and I am trying to adapt.

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Pedro40
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Understood. Good luck with your adaption.

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 bobwest 
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What a great movie. Thanks to @Fat Tails for posting the current link, and to everyone who added their own experience.

Strange that such a vibrant world changed so fast.

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