The lonely game -VS- My own company

H

HATEtheRisk

Dear ET community,

first i must apologize for my rude posts here and i am sorry if i should have insulted someone here.

I really think this here is the greatest forum about trading at all.

I know many people do not like me, thats not only here so.
But i cant change how i am.

I just want to make clear, that i wish every serious trader the best of success.

Sorry
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My own company

Because my trading is such an lonely job, day for day -
i often think about it, to found my own trading company.

But i see there a lot of problems.

I do not need other people to trade my setups - thats my job.

But i could hire people for the paper stuff around it, like builiding up statistics - but then i would have to share my strategies.
I made and do statistics also on my own.

I do not really know for what i could hire any people.
Its just that i am so lonely all day.

But i really like the image to be the head of a trading company with giving a lot of people a good job.

I only like to trade, manage my positions, calculate risk and watch for setups - thats my life....... but all the other logistic stuff, is not really my beer.

So, what could i do ?
What could people work for me ?
How to hire the right people ?

Does this make any sense to switch from a private 1 man trader to being a company with many people ?

Could i make more profits or reduce the risk while having the same profits, with let other people trade my setups, while i giving them the orders when to do what - or is it just better to do it all alone by myself ?

What do financial trading companies do ? What people are working there ?

Thank you

Best regards,

HTR
 
Quote from HATEtheRisk:


What do financial trading companies do ? What people are working there ?
More...

Administrative assistants, accountants, researchers etc.

If you choose to go with someone, you should do good research and only go with the best. Someone that can be an asset to you, and would do whatever you want for them to do for you. And never settle.

One guy I hired called me a "FRAUD" and walked out on the job the very first day. That was one of my first hires, but I have learned my lessons.
 
Quote from Ripley:

Administrative assistants, accountants, researchers etc.

If you choose to go with someone, you should do good research and only go with the best. Someone that can be an asset to you, and would do whatever you want for them to do for you. And never settle.

One guy I hired called me a "FRAUD" and walked out on the job the very first day. That was one of my first hires, but I have learned my lessons.
More...

Thank you for your reply, sir.

I know, that it is not easy to get things like that getting started.
But i have such an inner feeling to run my own company.

May, i ask you, how many people do work for you now ?
And what are they doing and what do you do ?

------------------------------------
I only want to do it in an easy way, i dont need any stress with lousy people.

I need people, i can trust 100%, they will get paid very good for that.

I only would hire highly educated people, because they know to respect the job employment, most likely.

But also, i want to give poor fucked up people a chance, because thats where i come from.
-----------------------------------
Administrative assistants, accountants, researchers etc.

The only thing i could now imagine is to hire a secretary for all the legal paper stuff. All other things i can do by myself.

I would like have it that way, that i just search setups and give order to my traders to manage the positions, while i monitor them all and watch what they are doing.

While other people, constantly calculate the total company risk and expected profits.

Builiding up statistics, would be also a important work to do, but then i must share my setups, what i never would do--- because then nobody would need to work for me at all. LOL

You see my problems.
 
Please i need your help !

I know here are a few traders who run their own company.

So, please, tell me some insight.

How is the procedure in such a firm.

What are the people exactly do ?
What does the boss ?
How do they manage that everything works correclty ?
Where did they find the right people for the jobs ?

Is a good lawyer the most important thing ?

I would really appreciate some usefule help.

Lets see if someone can give good answers. I guess i have to search somewhere else about inner company structures and managment.

Thank you
 
Quote from HATEtheRisk:

You see my problems.
More...

I started off with a Hedge Fund, which right now is slowly evolving into an International Investment Banking operation. And I have just about 25 employees + growing in three continents.

I really see your problem. At first at my company, there was no real separation between me and the staff that I believe some of my techniques had been compromised. Thus, I created much bigger separation between them and me so that the exact strategies and methods won't be exposed.

Your case would be a little different since you are just a proprietary trader, and not managing any outside money and thus, you may not report to clients etc. It would actually be easier to hire others in your business, but at the same time you need to make sure that you have actual jobs for them to do as well.
 
Quote from Ripley:

I started off with a Hedge Fund, which right now is slowly evolving into an International Investment Banking operation. And I have just about 25 employees + growing in three continents.

I really see your problem. At first at my company, there was no real separation between me and the staff that I believe some of my techniques had been compromised. Thus, I created much bigger separation between them and me so that the exact strategies and methods won't be exposed.

Your case would be a little different since you are just a proprietary trader, and not managing any outside money and thus, you may not report to clients etc. It would actually be easier to hire others in your business, but at the same time you need to make sure that you have actual jobs for them to do as well.
More...
how do you find time to run a hedge fund and manage 25 employees? Do all of them work in finance or are some of them paid just to hate Moslems?
 
Don't be so quick to take on additional mouths to feed.

Treat starting your own firm as if you were starting any small business, do everything you can on your own til it gets in the way of revenue generating activities, then delegate the tasks to someone else so you can keep your focus on what pays the bills.

For instance, if you find you're spending way too much time sorting out the paperwork and accounting required to run your business, then grab a part-time assistant to start taking on these tasks.

If you take people on for the sake of being a 'boss', you'll just be wasting cash and won't have any reason to keep them on should times get tough (a dry year.) This is unfair to yourself and the employee since the expectations aren't set right from the start.

Here's the key, it doesn't take much to support you as an individual trader, but running an office of traders could justify (and pay for) an operations/assistant team. You could start a prop firm style setup, a trading arcade, or even turn into a hedge fund where other talent joins you as equity partners...

All this doesn't happen over night. In the mean time, there's the old saying "if you want a friend, get a dog."

:P
 
Quote from Ripley:

I started off with a Hedge Fund, which right now is slowly evolving into an International Investment Banking operation. And I have just about 25 employees + growing in three continents.

I really see your problem. At first at my company, there was no real separation between me and the staff that I believe some of my techniques had been compromised. Thus, I created much bigger separation between them and me so that the exact strategies and methods won't be exposed.

Your case would be a little different since you are just a proprietary trader, and not managing any outside money and thus, you may not report to clients etc. It would actually be easier to hire others in your business, but at the same time you need to make sure that you have actual jobs for them to do as well.
More...

Wow, i am impressed. Running a own hedge fund must be a cool feeling.

Yes, i only want to manage my own money - no need for others people money.

When i read the story of Warren Buffett and how he started his company, he first sold different products and did investing in the finance markets beside it, so he already had a working background - thats all what i want " a working background ".

There would be enough jobs, there is endless work there, but not without sharing my knowledge, thats the problem, i cant share that. I dont know how to do it ?

One solution would be to find some IT guy, and programm some of my analysis automatically to finding some easy signals and build statistics about it. But that does not fit the whole problem, my setups are not working that easy, its like brain sugery and i need to study the market situation very precise, before i really know what is going on and takin risk on my shoulders.....

I just dreamed about it, that i could somehow manage all this stuff, i have created and keep it secret just for me, while others are doing the work and making me money - but i guess this is just a dream.

But then, how are trading companies do it, for example a Goldman Sachs ?
Do their traders know all secrets, or do they only follow orders from other guys ?
Or is it all going automatically ?

The only way i see here is to find some software, which takes some analysis away from me and giving me possible setups situations, what then i just have to take a clearer look on it.

? ? ?

Quote from Ripley:
At first at my company, there was no real separation between me and the staff that I believe some of my techniques had been compromised. Thus, I created much bigger separation between them and me so that the exact strategies and methods won't be exposed.
More...

Yes and how did you do this ???

Thank you

HTR
 
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