The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-30
THE ROOM TRADER.
he Make. Money by . sixth Sense. and n
. fuscr 60 Worry Over Might

the other day man with pale face and dark
hair. and keen. restless eyes that indicated an
alert, nervous deposition. He was looking
out OF the window at the crowd passing by.
but evidently his thoughts were elsewhere.
for every now and then he would start ner-
yously and bring his flst down on the window
sill as though to emphasize some argument.
times he turned to the veteran. who was
seated not far away. and said theoretically:
"Old man, I've closed up every deal had on,
and I've concluded to quit for the rest OF the
summer. There isn't enough going on to pay
for fellows time. and might rs well be of
enjoying myself as sweltering around here.
I'll engage passage for England tomorrow.
Como along"
"Ienyy you, nv boy" returned the veteran
slowly: but In not 80 fortunate as you. I've
got to stay behind and watch and nurse my
deals or I'll wake up bankrupt I'll take q
bottle with you. though. before you SAIL"
The first man nodded and smiled. and few
moments later went out into the street and
took cab up town. The veteran closed his
eyes for moment as II to aid his rejecting
powers and when he opened them again he
said with hearty emphasis:
"rd rather see that man gamble than wit
ness the finest dramatic performance since
Garrlck. II could play poker the way he does
would be Indifferent, about my birthright "
Who Is he asked i,ss oys nd d a one not
His name" returned the veteran. Is not
essential lls is room trader. Do you Know
The curious man admitted his ignorance.
room w trader SAID the Eet ceI b. LISA s
Lutte perfection in which he exists here. He is
man who eombines energy, duiekne e and
be calm as a sphinx or restless as u wildcat,
according as the one or tho other serves his
Be dishon erSbls in others RS without saereng
appear to be golden opnsortnnties without a
sometimes called sixth sensc-the power of
dvining the Intentions of others before they
tagonistic attributes He may, be petty and
yet courageous. - theorist and yet practical.
sa!TrS in his dealings rI re. a his working
time on the Exchange. and it is his object to
read the purposes Of other members and an:
a spy. for no means OF getting at the in
tentions Of other brokers is neglected. II a
iiGoor Of the Exchange reading order from mn
customer, he will ascertain the nature Of that
order II It Is q possible thin: to do It. and there
called playing the sGy and other az;
Neither is the Average room trader above fol
lowing broker around to watch him. If he
that The broker is sGng to oqg sell
fooled some tines. but that doesn't happen
amount OF stock from an individual. He has
to pick it up in small lots here and there; AS
ne fss
but, like the Old Man Of the Sea. the room
t t went S0 him e to With The the
So1f tSlts asyiilsH as ana ths s
not popular with tho other brokers on Ex.
change. and sometimes there are unpleasant
to OF nosnH TSe n
skilful to be caught in any act OF "pying that
the broker can prove. and mere suspicion. or
81 n
would not be sufficient even to base com
age broker is not an angel, and can't afford to
throw many stones.
"Toa large degree the room trader is like
much success he must have experience with
the other players. The veteran room trader
all the others In tho game. and has learned BY
little signs now and then to read their hands
the bPoker has an order to sell large boeI
hanging around the ST. Paul crowd knows it
list list as soon as he sets eyes, on him.
or said a word, but the room trader
peGTetrate;s tho mark; reading what t,..I Is
Indications that may be lost to, others.
Every man Of ke.nness who plays poker con-
stanty With the same crowd will learn after
or hold their cards or act what kind OF hands
they have; The room trader meets practically
them as the poker player knows his compan-
ions. Oneeof the most successful Of tho room
To G the 1d T song
Up Up or ro dST1 or What is WHETHER
courage Of his convictions. too. and I may as
well say that the room trader who hasn't the
the one refer to has q feeling that the price
OF stock Is going up. he Jumps In and buys up
z block p9 Of Il before ANYBODY olse can talk; II
quickly. OF course. ii ne makes a, mi stake it
Is costly. but those are tho gamblers chances.
matter OF fact. this man usually wins. When
you come to figure it down the room trader is
take hall the chances that the specuator does.
and IL ne would leave ordinary speculation
e esdf ae Wiz be al Es 9US
" One OF the advantages that tho room trader
has over the other brokers lies in the fact that
him % take advantage Of any incident that
might affect the market more quickly than
ssyDs cat wh hSs Sss 'eT re-
quickly on the street. and any event likely to
affect the market gets or the tiskers about as
traders. like oil brokers. have their private
sources q information. II a, big national bank
iulls out " eSt tne room tult
that will depress prices. is able to sell stocks
before the operators in their offices or the
Spectators in other peoples Offices can get
their orders over to the Exchange
Tho successful room trader studies the
acteristics. and especially the business
theories and ,petullarities. Of the big operators
and specnlators: and lis often able to make a
great deal out Of his acquaintance with them.
For instance. there Is one big operator who
against him him ,n moFs than three points
Union at 50 and 1t falls to ~ no will sell very
quickly preferring to sustain that loss rather
than incur more. On the other hand. he will
hold on longer than the majority II the market
is IN his favor. In other words, he's an early
luck when it layors him. The room traders
set out to send the market against him for
more than three points. Consequently it isn't
safe for him TO go into q stock unless he can
control the market on it. or can keep his con-
nection with 1t concealed
In one respect the room trader is like the
operator ! have mentioned. He is an early
trader to close up his transaction every after
noon before tho Exchange closes 1t makes
ltmarappa how IA or for Ia day In