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| In the old days, had an 'ole boy in Iowa who watched sow prices & feeder pig sales...(he began trading in 1920 (approx) & first I would receive a large margin check (for those days) as he would put up 100% of the value of whatever he sold...later I would receive (by letter) instructions as to which bellies to sell and how many....(could not use the phone as his elderly wife did not know he traded) & and to my recollection I don't recall he ever lost money....he simply watched producers....when the pickups were flying to town with hogs...then at some point he would again send a check & be a buyer.
He began as a butter & egg trader....sent his orders into his then broker by post card (1 cent, then raised to 3 cents) almost as cheap as emails. He was very careful with his money.
I should also add that he never complained about his fills.
Edited by SeniorCitizen 4/9/2010 15:07
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cattle market
