SIMEX
Technique
Thumb and index finger extended to mimic a gun
Origin
During the American Civil War, JP Morgan financed a Union purchase of guns and this profit helped start his banking empire. The guns were noted to be defective and remachined old rifles so this was a controversial point in Morgan's history.
JP Morgan
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The ability to recognize all market participants was what made open outcry trading transparent and from this, signals were developed for the larger brokerages and for some large local traders. In cases where a more universal signal was never developed, their hand signal in the pit would simply be their three digit firm number