A Grand Old Tradition, The Traditional Stock Market Of Today

A grand old tradition, the traditional stock market of today. If you say the words "stock market" to ten people and have them describe what they think it is like down there in the pit and you will likely get at least the lion's share describing the traditional market in much the same way: chaos, throngs of people in suits, bells, alarms and countless monitor screens. While that assessment would be technically correct, there is more to the stock market than the image given to us by television, movies and cartoons. A grand old tradition, the traditional stock market is alive and somewhat well.

First this: the word "trade" is not some magic formula at all, it is simply the act of buying or selling, period. A stockbroker makes trades on behalf of clients, and must exercise the same care and expertise no matter how big or small the order is. If you read up on the traditional market, it will give you not only the history, but also a quick run down of what actually happens during a simple, straightforward trade. And while there may be some sentimentality involved, the question remains: how long can a human based, traditional market remain competitive when most trades are done electronically over the computer.

The computer has changed many aspects of life, and the stock market is no different. Most markets have moved all operations to the Web, where they are able to trade at the blink of an eye, research the trends of a particular stock, and monitor foreign markets all in one place without having to scurry here and there. Does this mean there are no more brokers or brokerage firms? Of course it doesn't, it simply means that they way that they do business has changed dramatically. Traders can work directly online- millions of dollars are still exchanging "hands," it just goes much faster now. All of the activities of the traditional market are still available; they are now just easier to access and move much quicker now.

Old school, hardcore financial wizards decry this computer based trading, saying that it takes away the tradition and the meaning of what they once stood for. New blood, however, welcome the change, and say that moving trading online allows even the casual novice trader to move more stocks than they would have been comfortable trying to do on the traditional market. Educational opportunities online abound, and so does software that can walk you step by step through a trade- try getting these same amenities with a traditional market, they would laugh you away.

By: William Oedge

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