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Such computers can be used and for the instant message on the transaction without use of a trading map. However it will not solve all problems. The broker with the manual computer cannot compete to speed of the skilled trader using traditional trading maps. I can quickly and consistently execute some transactions, including purchases and sales, and then shortly to enter a minimum of the necessary information in my trading card. Then I pass its my clerk. It fills other details to hand over the information to a stock exchange. By means of the manual computer the trader should enter all details of the transaction or to charge to the clerk that that has entered time, the price, quantity and

160 DEJTREJDER - BLOOD, SWEAT AND SUCCESS TEARS Identification number of a badge of the person with which the transaction is concluded.

I am assured, from the moment of decision-making on the transaction before its execution which I name the transaction front, no computer devices even with programmed "hotkeys" can compete to the trader in a hole, using trading maps. I agree, as soon as the transaction is executed, speed of the report on the transaction and calculations on it considerably raises with use of the manual computer instead of traditional trading maps. Advantage in acceleration of last stage of the transaction arises both in the report, and in clearing. Besides, it allows to settle faster the false, not last transactions and to warn settlement firms about large open positions of the clients demanding additional entering it. At future trade of a position will be settled before market opening next day. At trade in actions settlement of calculations on a position can occupy two or three days.

Nevertheless this instant informing on transactions with use of the manual computer has a lack. Updating of the given transaction on a spot becomes difficult, if not impossible. For example, the broker in a hole sells the market, and I go on purchase. The broker signals to me: "Has sold to you 27, LBJ". One second later when it in mind has counted up the sum of the sold contracts, the broker signals to me: "Is not present! Has sold to you 24 not 27". Correction is made To my trading map and on a stock exchange is informed on the transaction on 24 contracts. In the presence of the manual computer the given transaction will be instantly entered as a prize from 27 contracts, and I had to make compensating transaction to lower number of the bought contracts with 27 to 24.

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