Hiring a day trader

[wrbtrader]

You perhaps need to start by being very aware (as the potential pool of traders you seek to hire will be) of companies like TopStepTrader who fund accounts for day-traders and pay them 80% of the takings.

That's perhaps your competition?

You might also want to look at how they identify, select and fund their traders, and ask yourself whether you'd employ someone they wouldn't fund, and if so why?

I'm trying to look at it, also, from potential the applicant's perspective and wondering what you can offer her/him that TST can't.

That's a good perspective because anyone that's profitable and wants to work for someone or share profits with someone...

They'll most likely explore things like prop, manage accounts, trading private account for family/friends and anything else alone that lines. Therefore, this anonymous person (the thread starter) will need to do something better because he/she is competing with others that aren't anonymous.

 

[radex78]

Seems as good idea to diversify investment wit hiring day trader, but looking good trader also not easy at all, some social trading community there so many signal provider and also there are many kinds ea that used as automatic trading software

 

[J_Smith]

Wow. So many crazy, even hostile posts & none of them answering the original question, let alone being helpful.

At least you picked the right nick

J_S

 

[J_Smith]

That's the good one as he demonstrates to understand the market, if not you cannot stay in a trade for 1-5 hours without losing your pants.
Making a few ticks in a very short time looks more like gambling. If that trader would understand the market he would stay longer in it and take bigger profits. The fact that he does not do that proofs he does not understand the market (and is gambling). Every trader trades his own abilities and is limited by his disabilities. Trading longer periods gives also more posibilities to trade bigger sizes without influencing the price.

The trade could be 1 to 5 minutes, not hours. The longer you are in the market, the longer your money (profit) is at risk. Unless you lock in profit by moving your stop, or having a trailing stop, then you must accept the fact that your profits can disappear in the blink of an eye.

In order to play the game the correct way, one must know the odds of price moving a certain amount in a given time frame.

Standard TA indicators are of no real use for short term trading, as they all lag price.

There are other ways to work out the odds, some like to call it an "edge", but to others it is no more than using common sense to identify low risk trades, and being able to reverse trade if required, but not too quickly as all one will do then is get whipsawed all over the place.

J_S

 

[1245]

Funds exist because the majority of people are either too lazy, or too stupid, or both, to take control of their own finances.

That is not a fair comment. Not everyone wants to spend the time and effort to find an edge to trade and do it full time. Most people have jobs or run their own business. Why not hire someone to manage your money? If you have ever hired a professional to do a job for you, I would not call you "too lazy, or too stupid" when you hired a repairman, carpenter, electrician, lawyer, accountant, etc.

1245

 

[wrbtrader]

That is not a fair comment. Not everyone wants to spend the time and effort to find an edge to trade and do it full time. Most people have jobs or run their own business. Why not hire someone to manage your money? If you have ever hired a professional to do a job for you, I would not call you "too lazy, or too stupid" when you hired a repairman, carpenter, electrician, lawyer, accountant, etc.

1245

Yeah, when I saw that comment...

either too lazy, or too stupid, or both, to take control of their own finances.

It reminded me of someone I know (college educated in chemical engineering) that worked for a fortune 500 company and was injured on the job and now paralyzed neck down. The settlement with the company gave him millions. He now has a power of attorney and some of that money is diversified in different types of investment vehicles to ensure he and his family is financially secured for the rest of their lives.

I'm sure he's not either too lazy, or too stupid, or both, to take control of their own finances.



P.S. Some people at this forum just say stuff without thinking if others reading the comment will think I've been smoking too much weed. Is it from Columbia or home grown or store purchased in Denver ?

 

[J_Smith]

We are talking about normal instances, where the average person has adequate time to spend in relation to managing his/her finances.

Why do so many waste endless hours on silly sites like this, talking rubbish about nothing that is of any real significance

Facts are, as stated, most are either too lazy, or too stupid, or both!

Inspiration is a very dangerous thing when it comes to money. Sit back, write down a few simple questions to ask yourself, be honest, and know that whatever you get in life will always be what you deserve to get.

If you are a selfish, self centered, know it all, fat arse lazy bastard, then you might do well for a while, but, sooner or later you will get exactly what you deserve, as it is just the way life is.

I am not talking about silly religions or laws of attractions, or any other such nonsense, I am talking about common sense thinking and the true value of good nature, which very few people have these days, especially in certain parts of our globe!

J_S

 

[userque]

P.S. Some people at this forum just say stuff without thinking if others reading the comment will think I've been smoking too much weed. Is it from Columbia or home grown or store purchased in Denver ?

I find that most of "them" have personality disorders, narcissism, for example.

 

[Xela]

the average person has adequate time to spend in relation to managing his/her finances.

The "average" person (whoever s/he is) probably doesn't really have the relevant skills, experience and understanding to do that, though. And neither, sadly, do quite a lot of the people who make their livings advising others how to do it, or doing it for them.

 

[J_Smith]

The "average" person (whoever s/he is) probably doesn't really have the relevant skills, experience and understanding to do that, though. And neither, sadly, do quite a lot of the people who make their livings advising others how to do it, or doing it for them.

Yes, any skillset requires learning, but for some silly reason most enter the financial world thinking that they can somehow bypass the learning curve - these are the real stupid ones!

Why a person would think that way, well, it can be due to many factors, but the main one is education, as, today, most of our educated children are as thick as 10 planks put together, when it comes to common sense thinking.

" I am going to trade the ES with $2,000 using a leveraged account, and make at least $500 a day"

What a bunch of monkeys

And then, you have the other extreme, the fools talking about trading multiple contracts with the ES, talking in millions, and more than likely haven't 2 pennies (or cents !), to rub together.

The world is full of idiots and dopes, who use the stupid internet to live out their fantasy dreams, and, most who wouldn't even know the difference between consolidation and expansion/contraction.

"But wait, why don't I just give my money to some other dope, who can make loads of money for me, while I sit on my big fat lazy arse typing bananas to my fellow monkeys"

J_S