How The Market Really Works HTML version
Hi,.. Robert Dorfman here……First of all, thanks for your interest in this ebook
and wanting to learn how to trade/invest more effectively, or for just wanting to
learn more about how the market itself really works.
You may or may not know me…that‘s ok…this book will teach some key tips
about what it really takes to money in the stock market…I am a 20+ year veteran
trader…Wall Street trained, bred, and sometimes disgusted by,…so……I can
absolutely promise one thing here…..
You are about to learn the truth about how it all works…..
so lets‘ get started…..
First a Little History….
The history of the New York Stock Exchange basically begins with the signing of
the Buttonwood Agreement by twenty-four New York City stockbrokers and
merchants on May 17, 1792, outside at 68 Wall Street under a buttonwood tree
(above). The agreement was only two sentences long, and was simply a promise
to only trade with each other and abide by a .25% commission.
In the beginning there were five instruments being traded, three of which were
government bonds created to finance the Revolutionary War as well as the first
listed company … the Bank of New York.
The exchange began to grow and in 1817 a constitution with rules and regulations
was developed and trading was moved indoors. The organization was given a
formal name, the New York Stock & Exchange Board and rented office space on
Wall Street. In 1863 the name was changed to the New York Stock Exchange.
By the mid-1800s, the United States itself was experiencing rapid growth due to
the burgeoning Industrial Revolution and the end the Civil War and companies