Hire "traders" to work for you?

uptik2000 · May 15, 2007

I live in upstate New York. The pros are low office rents, lower salary to pay out, lot sof colleges in the area.

The con is that most of the 'talent' goes to NYC to work.

Hydroblunt · May 15, 2007

Quote from commander_guy:

gosh darn it

I hate when you guys force me to be serious

there is only one way to hire traders and not disclose system

system has to be BLIND of charts, and all a trader can see is BUY and SELL buttons and not even know what he is trading

but if that is the case you can automate it and not need traders

unless the broker and platform you use does not allow good level of automizing

Exactly. You are just looking for execution traders. Well take a look at what's been going on in the industry with execution traders. Replaced by computers.
It's more cost effective to invest in an order execution code. Plus, the markets are more comptuer friendly nowdays.

If you want the trader to judge the signals, then at least a part of the system is disclosed.

Most realistic alternative is having the human trader handle the exits after the system takes the entry. Will need to disclose the system for that. But this is a serious arrangement which is being used in some hedge funds.

brownsfan019 · May 16, 2007

Quote from cashmoney69:
Kiwi said on here once or twice that he's givin his system but few on here know how to use it. We all know their more to trading than just having a list of rules. In fact, wouldn't that be good if everyone knows my system?... if I buy xyx at x price, then so do many others, pushing up/down price.

Cant you have them form some kind of contract...I'm sure the people at Coke/ Pepsi have such a contract with their workers..keeping these kinds of things secret.
cm

A non-discolsure, non-compete would be essential but that only prevents so much. In the end, if you had the system down pat, all you have to do is walk out the door and trade your own money. It would be hard for someone to come after you if you're just trading your money... how could they prove you are using the system?

In the end, as another post said, taking the energy and directing it into a computer code that can do the same thing will save time, money, and hours of frustrations. Assuming you can code the system, there's no reason to hire a person(s) to do what a computer program can do for you.

Vinny1 · May 16, 2007

Quote from cashmoney69:

I got this idea shortly after my job interview at a telemarketing company. The job is dead simple. Basically the computer calls the "customer" and there is a text prompt on the screen that you read off of. Then they press a series of keys depending on what that person says. They make 7 an hr plus 20% commission on all sales.

Based on the above, I thought it'd be a cool idea to hire people like myself to trade someone elses system.

They get a set of rules to follow, and they get paid an hourly wage, and maybe x% commission on successful trades.

ideas?

cm

7 an hour is awesome. I would take that job, if you don't mind living with 20 roommates and eating cat food everyday. How do these greedy companies expect people in this country to live on 7 an hour with a family and kids to raise?

MadBulgarian · May 16, 2007

Quote from Vinny1:

How do these greedy companies expect people in this country to live on 7 an hour with a family and kids to raise?

[/B]

Governmental housing and food programs

ryank · May 16, 2007

Quote from Vinny1:

7 an hour is awesome. I would take that job, if you don't mind living with 20 roommates and eating cat food everyday. How do these greedy companies expect people in this country to live on 7 an hour with a family and kids to raise?

Trust me, people that get paid $7 /hr generally aren't worth paying any more than that. You get paid what you are worth, not what you think you are entitled to.

Vinny1 · May 16, 2007

Quote from ryank:

Trust me, people that get paid $7 /hr generally aren't worth paying any more than that. You get paid what you are worth, not what you think you are entitled to.

Do you think it's ok if a company hires a $7/hour illegal alien or a worker in India for $1/hour with no benefits or should they hire an American and pay them $20/hour plus all the benefits?

Pekelo · May 16, 2007

Quote from brownsfan019:

Of course, as soon as the 'worker trader' learned the system, they'd be out of there trading their own money

Not necesserily:

1. The worker is not interested in trading particulary, but he needs a job and it is better than flipping burgers.

2. He doesn't have the capital.

3. A sure fixed salary is better than a risky trading on your own...

4. It is better to trade (and risk) someone else's capital with fixed rules and no emotion attached...

See???

ryank · May 16, 2007

Quote from Vinny1:

Do you think it's ok if a company hires a $7/hour illegal alien or a worker in India for $1/hour with no benefits or should they hire an American and pay them $20/hour plus all the benefits?

I wouldn't advocate hiring illegal aliens. I would hire someone in India for the market wage if they could do the job, I've heard they do some great work for $5-$15 an hour. Actually, I would subcontract work to someone in India, not hire them. If the job I needed done was worth paying $20 an hour for plus benefits I would hire the American if it was profitable for me.

cashmoney69 · May 16, 2007

Quote from Pekelo:

Not necesserily:

1. The worker is not interested in trading particulary, but he needs a job and it is better than flipping burgers.

2. He doesn't have the capital.

3. A sure fixed salary is better than a risky trading on your own...

4. It is better to trade (and risk) someone else's capital with fixed rules and no emotion attached...

See???

good points.