hiring and managing traders

500,000k isn't much for a top tier trader. my wife will divorce me if I don't make 650,000 and we almost broke up when my bonus was just under 200k last year.

I've seen 10 divorces and grown men crying after they failed to make 20k in a month. worthless humans. I hope their wives meet successful men. some guys even gained weight and this was the worst.

a normal pay package is 800,000 for a really good trader. and after taxes that isn't much cash. well, if you are single it might work.

might
 
Quote from Handle123:

It is in their contract with me, I don't give them anything for free, I am a rotten bastard to work for, I expect performance overall and it they don't live up to what I expect, they are fired as I have already fire several this year. No to escort service, they all married and have mean ass wives on their tail to keep awake. The offices they trade out of whether home or my building, they are on camera when they trade so I don't have to leave my office.
I will pop in whenever I need.
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So they have 10 year obligations to serve you but your dont have ten year obligations to pay them.

Uh huh.
 
Quote from newwurldmn:

So they have 10 year obligations to serve you but your dont have ten year obligations to pay them.

Uh huh.
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there is an option to say no,the contract protects his intellectual property,a lifetime of work,he's not foolish enough to give it away,he hasn't said so,but i'm sure they have attempted to figure it out,and if they do well,after ten years getting paid to trade his system,they surely will have learned by osmossis to trade on their own and have the means to carry it out...or get his assistance /expertise in implementing it
 
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.

don't know from the info provided
 
are you German or why do you split hairs over word choices in every other post of yours? So what are your numbers? Obviously it depends on how you source your AUM. If its outside funding then you can hardly pay your traders > 20% as 80% most generally goes to your investors and you would like to generate some profit, too, after all your overhead, correct? If it is principal funding then you can go higher, like 30-40% tops. Anything else I would stay away from as trader because it sounds fishy and unprofessional. So what are your numbers and rational behind other than verbiage?

Quote from NetTecture:

I am not sure "fair" is relevant - competitive may be more.

I.e. fair is useless if everyone else pays better. Competition research may be in order.

Btw., I am in the same boat - negotiating about opening a trading floor. But I would not say "I opened a company", I say "I am considering opening a trading floor" (the company I have - that would just be another business activity).

You definitely need to look into labour laws, too - either you go with hired people (Risky, capital intensive) or contractors getting a share of the profits. Here is the deal: if you do the later, make sure that this legally is sound and they do not have work contracts once they sue you. In many countries if you treat them as workers, they have a right to be paid like them - regardless what the contract says.
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in Poland? ;-)


Quote from NetTecture:

Whow, go to your basement and jerk off more. Seriously. Yes, I have good experience with ex military types. Second in command in my company is ex french foreign legion. Some of us have a real life, not just your jerk off in the basement comments.

And I don't move to a half a million NSA-Dollar house because guess what - it does not suite me, moron. I am happy where I am.
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They would have to pay me more than $2M a year to stop me trading on my own.

I have no clue why any good trader would want to stop trading his own account and starts giving half of his profits away.

Doesn't make any sense.
 
You need a COO who has done this before even if only on a small scale. Do not reinvent the wheel.

Quote from Ironplates:

i am a trader who has significant experience trading, but not managing other traders.

i am looking for feedback on what traders want from my trading operation when i hire them?

what kind of compensation arrangements are typical?
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