Being a trader requires quick reflexes and intense focus, much like playing a sport. Every phone call and computer alert represents a client eager to make a trade, and neglecting them could mean losing business to a competitor. The atmosphere is charged, with the heat of multiple computers running at full capacity causing everyone to sweat. On busy days, traders are tethered to their desks without a moment to spare, testing their endurance.
Trading on the desk involves complex communication that resembles a secret code. Phrases like “cable, a yard, mine, Geneva” translate into specific trading actions. Mistakes can lead to frustration, angry outbursts, and even equipment damage. However, trading dynamics have changed in recent years due to the global financial crisis of 2007-09. New regulations have limited profits while high-frequency traders have dominated stock markets. The global economy has been sluggish with markets moving predictably and offering little excitement for investors.
Rare exceptions like the Brexit vote and Donald Trump’s election have shaken up this tranquil period, leaving traders with few reasons to make frequent trades. Consequently, revenues have plummeted and returns have suffered leading to job layoffs instead of market volatility. The trading floor used to be an energetic hub of excitement and fast-paced action but now it’s much quieter and more subdued environment.