As electronic locals our traders spend up to 12 hours in front of their trading screens every day. During these demanding trading days they are inundated with information from a wide variety of sources – including the order entry platform, technical charts, Reuters, Bloomberg and squawk - which needs to be understood, interpreted and acted upon effectively. These tasks are performed with a constant awareness of their own emotional state and with the implementation of tried and tested emotion-management protocols. As a result, it is common for novice traders to overlook the fact that they are interacting with a plethora of other groups of participants in highly liquid financial markets. An understanding of who is participating at any point in time can give an e-local a distinct edge. (more...)