Would an active futures day trader still use a broker?
Author: I’m writing a novel in which one character is a full-time futures trader, trading her own speculative account from her home after having traded professionally for a specialty mutual fund.
When I first started researching this book years ago, I visited some serious at-home traders who watched the markets at home with a satellite feed and called their orders in to a broker who then executed them at the CBOT…or whatever exchange.
Now the CBOT combines open outcry with a tandem electronic system. So would my trader still phone a broker to execute orders? Or would it be more efficient for her to execute those orders through her computer?
Use whichever one fits the story the best. They both sound like valid forms of trading although the electronic sounds more current.
Will either way lend itself to adding some details to the story? Go with that.