What are those guys specifically doing, that you see yelling and trading ,at the New York Mercantile?

Question

I assume that they are buying and trading stocks for clients,as the world market fluctuates pertaining to stock prices,but exactly what is it they do?What kind of education do they need?How much do they make?Is it an easy job?

Answer 1

They are trading commodities.

Some work for firms and others own seats on the exchange.

If you want to learn how to trade commodities go to http://www.ChartingYourFutures.com

Jay Gallenmore has been trading them for 35 years and really knows his stuff.

Answer 2

They are trading commodities, since they do not trade stock on the Merc

They are calling out. the number on contracts they want to buy or sell

They are either trading for their own account, for the account of their company or for other dealers.

Their education various, some with college, some without. The all have the same type of personality - outgoing, they are all good at math, they are quick thinkers and above average intellegence. (there are no dummies trading, wehter it be stocks of commodities).

They income various depending on what their job function and whom they work for.  Some may be accting a floor brokers, others may be dealers, some trading for their own account.

It's an easy job IF you know what you're doing, there is pressure on all of them, they don't stop during the day (they're not suppose to), they have to keep active, and be mentally alert at all times

Answer 3

They are actually yelling buying and selling prices and number of contracts they are making an offer for or selling in the specific commodity or future they are dealing in.