hiring and managing traders

Quote from Pipflow:

At the starting stage by looking at their performance itself you would come to know if you really need to continue managing that trader or not so further things would just get on well provided the trader is honest and good.

+10
 
Quote from Handle123:

LOL, that's is pretty funny actually. I can see you never owned businesses before and worked with employees. Oh, I don't draw a salary, so guess I should pay them nothing? I don't believe in religions cause God didn't make them, people like you did, bet you voted for Obama too.

I don't tell jokes, I just read other folks posts and laugh all the way to the bank. And since I have no relatives, when I croak, 99% will go to Homeless Shelters in my area and those close to home. But tell you what, in my will I will give you 99 pennies cause you ain't worth a buck. ROFLMAO

Pretty hilarious thread. So you bankroll traders and buy them homes in the first year. Presumably a draw and a $500k home? How generous, Mr. Blankfein!

CVS calling with your Thorazine refill!
 
it is Handle123's operation, what business of ours is it what he is doing? It is his free will to do this.

I will speculate that the LLC owns the real estate, not the employee, therefore, the asset remains in the operation's hands.

My opinion is that helping employees grow is important and that holding so tight to employees MAY result in unintended consequences, nevertheless, this is his operation that he is running based on his own choices.

Certainly the feedback on the thread to his employee control techniques seems to be a normal response to the arrangement as seen from our vantage point.

It is possible for one to be lost and not even know it.

Again, it appears this operation is hiring employees and is not that concerned about talent, nor may it heavily rely on talent

My understanding is great traders cannot be hired and authentic relationships require hard work, risk, and letting go of control in some ways or another.

In conclusion, Handle123 has been open and transparent about his operations and to do that demonstrates an element of humility and courage to share his employee arrangement with this thread.

For such a contribution to my thread, I appreciate his sharing private information for the benefit of this thread and helping myself and others gain more of an understanding about this topic.
 
Quote from Handle123:

LOL, that's is pretty funny actually. I can see you never owned businesses before and worked with employees. Oh, I don't draw a salary, so guess I should pay them nothing? I don't believe in religions cause God didn't make them, people like you did, bet you voted for Obama too.

I don't tell jokes, I just read other folks posts and laugh all the way to the bank. And since I have no relatives, when I croak, 99% will go to Homeless Shelters in my area and those close to home. But tell you what, in my will I will give you 99 pennies cause you ain't worth a buck. ROFLMAO

Too funny. There are those that know what it takes to run a business and then there are those that feel they are owed something throughout life and not work for it. We know the mold igotcash fits in.
 
Quote from HeSaidSheSaid:

60% and 40% seems fair to me

you get 60% of the earning since you put up the risk capital and infrastructure plus maintenance cost. your traders are your workers. they earn their living by providing labor in this case is trading in exchange for the wage.

you can be flexible with your super trader(s): 20% and 80% arrangement perhaps.

60/40?

You must be a shitty trader. No offense intended.
 
Quote from igotcash:

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.


might

"You got cash" but you got no balls.. be a real man and be with a woman who is not with you for the money.. poor chump...
 
Question to Handle123
>>

Nice to see your post on managing the trader/business setup. Thanks for sharing the info/setup. It doesnot matter whether it is true or not, it does sound like a solid plan. (based on posts who are not believing you).

You need not answer this if you donot want to.

Is the platform you use is MQL4? or Tradestation?

If you can automate the trading, curious to know about the need for 10 traders? Do they trade different instruments specifically/assigned to them or selected by the system?

Thanks
 
Quote from Ironplates:

i am the founder of a private non regulated investment operation that looking for some traders.

what is an effective way to manage traders and the best way to compensate them and retain them?

I can only write from my own experience. Hiring and training traders is very different from hiring and TRAINING traders.

If you are hiring a trader to teach him to trade, Why would you do that unless they are family or you are a scammer.

If you are hiring a trader to help you with execution or to follow a plan, then like any other job, you need to hire a competent well rounded person, if you hire a moron, you get poor performance.

Harbinger
 
Quote from Handle123:


We are progressing slowly real time so as to fully automate my "Holy Grail" method. Once completed staff will start next system, they will never run out of systems to trade as I am expanding to other instruments and ideas I never had time to consider before I hired all of them. Since January, I been trading med term and day trading Commodity Spreads, I see why BONE has done so well all the years, they been heck easier to trade than outright positions, but one does have to study them much more and comparing seasonals in past helps. Have found ways to get losing percentages extremely low by using Commodity ETFs as a hedge when spread going wrong way.


Hi Handle. I 100% agree that commodity spreads are great but why would you hedge them with ETFs? I could see if you were doing an arb play when they role the contracts but just to hedge a calendar spread makes little sense to me. Does your "Holy Grail" system apply to commodity spreads?
 
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