MORE ABOUT TRADERS WHO TWEET

• Posted by chicagosean
• on October 11th, 2010

John Zirgaitis: There until the end. RIP.

Crain’s Chicago Business ran an article in this week’s issue titled: “Tweeting traders in the virtual pit” (click for the story) featuring a handful of Traders from Chicago, including yours truly.

The author, Shia Kapos, did a great job peeking into the virtual world we’ve created in the wake of disappearing trading pits in Chicago, New York, and other international financial centers.

In a world that is speeding towards fully electronic markets in all financial products – the camaraderie, idea exchange, and community that was fostered in trading pits has just about become extinct. And for many Traders, its tough to bear.

Enter: StockTwits.

While Crain’s discussed the importance of Twitter to today’s new breed of electronic Traders, it is really StockTwits that has built the playground for players of every level to cut their teeth in the fast-paced world of real-time information. On this playground, you’ll find Traders sharing their actual trades in real time, discussing breaking news (before it hits CNBC, Bloomberg, or any TV outlets), posting relevant blog posts, broadcasting unusual trading activity (mini single-stock flash crashes), and of course passing the usual lockerroom jokes and snarky off-color commentary that only a Trader would understand.

In a virtual world, StockTwits is our trading pit, and its open to everyone – not just the guys with the XYZ badges. And the fine folks at StockTwits HQ do a great job of making sure the stream of tweets flowing through the system stays on topic and isn’t infiltrated by the scammers and penny stock promoters that have polluted yesterday’s chat rooms (chat rooms are soooo 1999, dude.)

For those of us lucky enough to be physically located in or near major financial centers, StockTwits has also cultivated a great environment for Traders and others interested in the markets to network and socialize face-to-face. Personally, it has been great for me. As an outsider to the “establishment,” I’ve had the fantastic opportunity to meet most of the other gentlemen (and lady) mentioned in this article over beers in downtown Chicago and various neighborhood pubs. None of this would’ve been possible if I hadn’t discovered StockTwits. And I know I’m not alone.

Speaking of which… If you’re in Chicago, a handful of us are organizing a meetup at Twin Anchors in Old Town at 5pm this Friday (October 15th). Come by, say hello, and have a beer. Its nothing official (it rarely is) and the restaurant isn’t in on this (hope they can handle us)

And finally, regarding the quip in the article about me “beating my head against the wall” at my home office: This may be true, but only because I have low angled ceilings :)

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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