Thurahsment/offline payment
Talking about classical terms about the world economy does seem very exciting, especially if the term in question is very difficult to find sources of information. OK, on to what is Thurahsment?
A little about Thurahsment
This term applies in an era where humans are still very minimal about internet technology, especially online payments like today, where we can easily deposit / invest only in the grip of a smartphone. But in the past, the story was not as beautiful as it is now, bro, because at that time, if someone wanted to invest, they had to go to the party/service provider as a liaison between you and the company you want to invest in.
Yes, the name is also ancient, where the choice of assets is still very minimal. Now, while the favorite is brow gold, so almost all of these investors choose gold because in the past gold had a price that tended to rise very easily. Actually there are also assets from other companies but so far all I know is gold.
Then how do they transact?
This one is also done offline, bro, first of all before you can invest, you must register first, later you will be given a complete ownership book with records of buying and selling investment assets.
After registering, the mandatory thing is to deposit funds into the account to start buying assets, for example (gold).
Then, if you want to buy gold then you have to make a note containing how much money you want to use to buy it, after that the note is given to the provider along with your account book / account, now if the process is complete then your book will be returned and has been accompanied notes, in the form of dates, prices and others. If you think about it, it’s really troublesome bro, because everything has to be done offline, not to mention if your house is far from the provider.
Thurahsment service provider
As an intermediary between investors and companies, they provide a unique facility, namely notification of prices and other news using radio broadcasts, it’s understandable that there are no rich metatraders yet, so to convey important things the service provider seeks through radio broadcasts. What makes me wonder is, how do they analyze the price, how come? Even though only news capital is heard on radio broadcasts.
The illustration is like this:
From the news, the price of assets/gold/shares is going down due to this or that factor.
At that moment, they flocked to Thurahsment providers to make asset purchases.
While the way to get the profit is to sell the asset if the price has exceeded the purchase price, and even then offline they have to go to the Thurahsment provider by giving a small note that they want to sell the asset and even then it is not instant, because they have to wait a few hours even up to 1 week.
Thurahsment is a transaction order settlement system before internet technology and digital technology developed. This term is no longer popular now because the thurahsment system itself is no longer there, anyways why bother transacting with this system while internet technology has developed, there is even a trading platform, where we can easily dismantle the chart market with various indicators available tools.
In meta traders, if we make an analysis and conclude that the price will go up, we will press the new order icon or press F9 on the keyboard, and immediately click buy. Then our orders will be recorded by the broker and forwarded to the market for ECN forex brokers or forwarded to liquidity providers and then forwarded to the market for STP brokers. It all happened in a matter of seconds. Well, thurahsment is a process like that too, but it is done manually without the help of digital technology and the internet. Up to this point, you can definitely understand the meaning of this thurahsment as well as understand why this term is no longer popular. Even our own country is still not independent when this system is no longer known and used, hehehe.
Illustration by Jesse Livermore
Ane once read a book that tells the story of the life journey of Jesse Livermore, the greatest speculator of all time who was active in trading in the market in the 1900-1935 period and was famous for making huge profits during the New York stock market crash in 1929 which then triggered the Great Depression. .
When Jesse Livermore was active in trading, trading was not like it is now, which uses advanced platforms. There used to be a kind of tool that diligently issued prices for each time and recorded ticks of price movements that occurred on the exchange. Traders only rely on the tool to view price information. In one part of the book, there is a story where Jesse Livermore was looking to buy a stock in the 1920s, but after doing some analysis he concluded that it seemed like there was still a long time to buy and he went to Europe for pleasure while waiting for the right time. .
Well, while in Europe, he continued to monitor the market through newspapers and when he saw information regarding the stock he was after, he immediately ended his trip back to America. Why should you go home? Because to enter the market and make an entry, it must be done in the exchange directly, not via telephone, let alone the trading platform. So Livermore immediately met the officer at the exchange, gave the order, and processed it manually. Well, that’s more or less what is called thurahsment.
As an illustration, big traders like Jesse Livermore will process orders directly on the exchange because the thurahsment system on the exchange can allow orders to be entered in just a matter of hours, maybe even less than an hour. Meanwhile, if the order is placed through a thurahsment service provider outside the stock exchange, sometimes the order can enter the market after a matter of days.
