hiring and managing traders

Quote from Handle123:

I have 13 people who trade for me, all using methods I/manager trained them for several months. It was at one time nineteen but not all can learn to trade, it was just way too many of them, and it might still be, so going to have design some more systems. They all use platforms that were made by programmers that will alter size of contracts due to time of day, reports or volatility. In place are ways for me/automatically to reduce or stop them from trading altogether, this stops them from making fat finger errors or if them want to intentionally lose money. They have no idea how many contracts they are trading, platform does the rest after they get in on limit orders. Traders can adjust targets, but if certain amount of time goes by, platform automatically takes over. They are only trading my funds.

All get base salary of $1,000 per week regardless if they make or lose money, full bennies, health ins, sick days, 4 weeks vacation, life insurance, short term disability, retirement, college fund for kids and profit sharing. There are weekly/monthly/Holiday goals that if met, they receive added bonuses from couple hundred bucks to $200k yearly bonus. Goals are not totally money based, getting very low losing percentages on losses is. They get fun extras of limos for Valentine's Day, Santa brings gifts on Christmas morn to each house, birthdays of all family members are remembered, monthly parties and free baby sitting services on Friday/Saturdays. Free attorney services, less my people are worried about their kids or whatever, they more into concentrating on their job. And after one year, LLC buys a $500k brand new house to live in-rent free. They are all under very strict contracts. We run 3 shifts from Sunday afternoon to Friday afternoon.

I did make one of them a manager several months ago and he trades as well. In May I had to stay in hospital for fifteen days, and he ran it very well. All were unemployed defense employees and half had no clue about trading. They are now getting to the stage where they are offering improvements after two years, and if it comes out in backtesting to make improvements, more bonus money. All are aware their 401k's are tied into total trading by all. Last year my employees received 38.7% of profits, they are all day/short term traders.

I don't have a clue if they get too much, too little or just right. But all seem happy overall, I don't oversee it as much as before, but they all doing great job. They all know I have open door policy. They all live within 3 miles of where I live, and all trade at home. All signed ten year contracts for receiving the base salary, did it this way so they wouldn't run off after learning entries, but they are unaware of exits, volatility, time, ranges, etc... Gives them security and gives me an idea if in eight years or less if I want to continue.
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Long and interesting - that is a very good setup you have here.

From the amounts I have to tell you - that sounds low (compared to what a single trader CAN earn - but getting there is a very hard story), but the benefits and a sane environment likely make it very worthwhile. At the end, if the bonus is good, plus living rent free (which is a nontrivial expense on top) makes the USD get quite far.

Sounds like a decent and interesting place to be.

Unemployed defense? That means ex military? May be a good choice. I have good experience with those, too.
 
Quote from Handle123:

I have 13 people who trade for me, all using methods I/manager trained them for several months. It was at one time nineteen but not all can learn to trade, it was just way too many of them, and it might still be, so going to have design some more systems. They all use platforms that were made by programmers that will alter size of contracts due to time of day, reports or volatility. In place are ways for me/automatically to reduce or stop them from trading altogether, this stops them from making fat finger errors or if them want to intentionally lose money. They have no idea how many contracts they are trading, platform does the rest after they get in on limit orders. Traders can adjust targets, but if certain amount of time goes by, platform automatically takes over. They are only trading my funds.

All get base salary of $1,000 per week regardless if they make or lose money, full bennies, health ins, sick days, 4 weeks vacation, life insurance, short term disability, retirement, college fund for kids and profit sharing. There are weekly/monthly/Holiday goals that if met, they receive added bonuses from couple hundred bucks to $200k yearly bonus. Goals are not totally money based, getting very low losing percentages on losses is. They get fun extras of limos for Valentine's Day, Santa brings gifts on Christmas morn to each house, birthdays of all family members are remembered, monthly parties and free baby sitting services on Friday/Saturdays. Free attorney services, less my people are worried about their kids or whatever, they more into concentrating on their job. And after one year, LLC buys a $500k brand new house to live in-rent free. They are all under very strict contracts. We run 3 shifts from Sunday afternoon to Friday afternoon.

I did make one of them a manager several months ago and he trades as well. In May I had to stay in hospital for fifteen days, and he ran it very well. All were unemployed defense employees and half had no clue about trading. They are now getting to the stage where they are offering improvements after two years, and if it comes out in backtesting to make improvements, more bonus money. All are aware their 401k's are tied into total trading by all. Last year my employees received 38.7% of profits, they are all day/short term traders.

I don't have a clue if they get too much, too little or just right. But all seem happy overall, I don't oversee it as much as before, but they all doing great job. They all know I have open door policy. They all live within 3 miles of where I live, and all trade at home. All signed ten year contracts for receiving the base salary, did it this way so they wouldn't run off after learning entries, but they are unaware of exits, volatility, time, ranges, etc... Gives them security and gives me an idea if in eight years or less if I want to continue.
More...

thanks for posting,good business model it seems
 
And/or unemployed defense can also be civilians holding secret or higher clearances.
Good for two years after layoff. Someone else has already paid for a rigorous background check. Re- check financials may be in order, especially in light of what you are employing them to do for you.
This is of course excluding the 1 in millions fuck-lib-tard like what's his name now.
 
Quote from Handle123:

I have 13 people who trade for me, all using methods I/manager trained them for several months. It was at one time nineteen but not all can learn to trade, it was just way too many of them, and it might still be, so going to have design some more systems. They all use platforms that were made by programmers that will alter size of contracts due to time of day, reports or volatility. In place are ways for me/automatically to reduce or stop them from trading altogether, this stops them from making fat finger errors or if them want to intentionally lose money. They have no idea how many contracts they are trading, platform does the rest after they get in on limit orders. Traders can adjust targets, but if certain amount of time goes by, platform automatically takes over. They are only trading my funds.

All get base salary of $1,000 per week regardless if they make or lose money, full bennies, health ins, sick days, 4 weeks vacation, life insurance, short term disability, retirement, college fund for kids and profit sharing. There are weekly/monthly/Holiday goals that if met, they receive added bonuses from couple hundred bucks to $200k yearly bonus. Goals are not totally money based, getting very low losing percentages on losses is. They get fun extras of limos for Valentine's Day, Santa brings gifts on Christmas morn to each house, birthdays of all family members are remembered, monthly parties and free baby sitting services on Friday/Saturdays. Free attorney services, less my people are worried about their kids or whatever, they more into concentrating on their job. And after one year, LLC buys a $500k brand new house to live in-rent free. They are all under very strict contracts. We run 3 shifts from Sunday afternoon to Friday afternoon.

I did make one of them a manager several months ago and he trades as well. In May I had to stay in hospital for fifteen days, and he ran it very well. All were unemployed defense employees and half had no clue about trading. They are now getting to the stage where they are offering improvements after two years, and if it comes out in backtesting to make improvements, more bonus money. All are aware their 401k's are tied into total trading by all. Last year my employees received 38.7% of profits, they are all day/short term traders.

I don't have a clue if they get too much, too little or just right. But all seem happy overall, I don't oversee it as much as before, but they all doing great job. They all know I have open door policy. They all live within 3 miles of where I live, and all trade at home. All signed ten year contracts for receiving the base salary, did it this way so they wouldn't run off after learning entries, but they are unaware of exits, volatility, time, ranges, etc... Gives them security and gives me an idea if in eight years or less if I want to continue.
More...

If you can pull off all the programming why are you turning so called trders into goats?

These guys are not trading or learning anything really hope they are ok with this sounds like a story to me
 
Quote from Handle123:

I have 13 people who trade for me, all using methods I/manager trained them for several months. It was at one time nineteen but not all can learn to trade, it was just way too many of them, and it might still be, so going to have design some more systems. They all use platforms that were made by programmers that will alter size of contracts due to time of day, reports or volatility. In place are ways for me/automatically to reduce or stop them from trading altogether, this stops them from making fat finger errors or if them want to intentionally lose money. They have no idea how many contracts they are trading, platform does the rest after they get in on limit orders. Traders can adjust targets, but if certain amount of time goes by, platform automatically takes over. They are only trading my funds.

All get base salary of $1,000 per week regardless if they make or lose money, full bennies, health ins, sick days, 4 weeks vacation, life insurance, short term disability, retirement, college fund for kids and profit sharing. There are weekly/monthly/Holiday goals that if met, they receive added bonuses from couple hundred bucks to $200k yearly bonus. Goals are not totally money based, getting very low losing percentages on losses is. They get fun extras of limos for Valentine's Day, Santa brings gifts on Christmas morn to each house, birthdays of all family members are remembered, monthly parties and free baby sitting services on Friday/Saturdays. Free attorney services, less my people are worried about their kids or whatever, they more into concentrating on their job. And after one year, LLC buys a $500k brand new house to live in-rent free. They are all under very strict contracts. We run 3 shifts from Sunday afternoon to Friday afternoon.

I did make one of them a manager several months ago and he trades as well. In May I had to stay in hospital for fifteen days, and he ran it very well. All were unemployed defense employees and half had no clue about trading. They are now getting to the stage where they are offering improvements after two years, and if it comes out in backtesting to make improvements, more bonus money. All are aware their 401k's are tied into total trading by all. Last year my employees received 38.7% of profits, they are all day/short term traders.

I don't have a clue if they get too much, too little or just right. But all seem happy overall, I don't oversee it as much as before, but they all doing great job. They all know I have open door policy. They all live within 3 miles of where I live, and all trade at home. All signed ten year contracts for receiving the base salary, did it this way so they wouldn't run off after learning entries, but they are unaware of exits, volatility, time, ranges, etc... Gives them security and gives me an idea if in eight years or less if I want to continue.
More...


Very cool. Thank you for sharing.
 
Quote from Chateau Petrus:

Are you looking for traders to trade your ideas/models or are you looking for traders to trade their own methods using your funds?
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both.

more focused on managing risk relative return and trader discipline and skill.
 
Quote from blah12345678:

Is this your first venture having workers/employees? If so, you really need to consult with an employment lawyer....

In the US, there are theoretically 2 classes of workers - employees and independent contractors. In reality (if you speak to any Federal or State agency), there is only 1 - anybody who receives pay from your company is an employee.

The IRS recognizes the two classes, but you and each and every one of the "independent contractors" has to pass 20-question test in order to categorize them as independent contractors.

IRS Independent Contractor Info

Don't forget about Worker's Comp insurance. If they trip over a power cable and break their arm, they can file a claim and/or sue you...

Be sure to do background checks of all applicants to see if they have criminal records (particularly anything violent or fraudulent), and whether they've sued anyone in the past...

Be sure to get those E&O and Professional Liability Insurance policies. Jack up the coverage to $10-25MM instead of the minimal $1/$2MM policies most new businesses obtain..

You want to be covered in case one or more of your workers go off the rails in some way...

Be sure to see if you can get trading losses insured... Dunno if you can, but doesn't hurt to check.
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would this apply of the operation is off shore?

i was considering having the traders being non employees, and perhaps partners. i imagine these matters would apply to operational employees such as portfolio admin, clerical, secretarial?
 
Quote from Van_der_Voort_4:

thanks for posting,good business model it seems
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that's a fake fancy story, you gullible idiot.

You are an example of "the earlier you registered at ET, you more stupid you are."

In a new system of ET, you would be categorized as "Veteran Trader" or "Elite Trader." Nothing can be more misleading.
 
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