Trading in a team

R

richk

Hello,

I am trading in the team with my wife.
We both sit in front of the same computer, we share opinions on the market , we share ideas of charts etc. We do only daytrading QQQ.

When we enter a trade we divide between us the overviewing of info on the screens, I am watching bid/ask etc., my wife is watching futures etc.

We also support each other in trading decisions, sometime we will not enter a trade if second one is strongly against enter and sometime we enter a trade when one is not so strong in decision but second is.

Is anybody else also trade in the team of 2 or more person together ? With friend, girlfriend, wife, etc....

Share your opinion.
 
Good concept - certainly superior to having your wife complain that you should get a real job.

The only potential problem would be indecision from analysis paralysis. Don't hesitate to pull the trigger when your setup appears

regards

doher
 
Originally posted by richk
Hello,

I am trading in the team with my wife.
We both sit in front of the same computer, we share opinions on the market , we share ideas of charts etc. We do only daytrading QQQ.

When we enter a trade we divide between us the overviewing of info on the screens, I am watching bid/ask etc., my wife is watching futures etc.

We also support each other in trading decisions, sometime we will not enter a trade if second one is strongly against enter and sometime we enter a trade when one is not so strong in decision but second is.

Is anybody else also trade in the team of 2 or more person together ? With friend, girlfriend, wife, etc....

Share your opinion. [/QUOTER

Richard,
kudos to you for making it work trading with the little lady.
I aol (im) with 2 other remote traders to share/examine entry signals throughout the day. My wife does a great job with the kids, but I couldnt trade next to her, wouldnt want to piss her off because she makes me a homemaid egg mc muffin and smoothie each morning.
More...
 
I often trade with my wife for a few of reasons:

1) She's smarter than I am!

2) I/she wanted her to learn how to trade so that she would understand what I'm doing and be more supportive

3) If anything happens to me (I get sick, have to go somewhere, want to take a day off) she can carry on trading. We often divide up the trading day and take shifts so that we don't have to sit in front of the screen all day - we just give each other a shout if we want to get into a trade.

4) I find that our combined strengths and weaknesses balance each other out well and that in general our combined skills make for better trading. When I'm freakin she calms me down and vice versa.


:)

Indie
 
The most efficient team situation would have one individual entering the trades and another person exiting the positions.

Obviously there has to be some sort of system. I think this strategy provides accountability while minimizing emotions.

I doubt it will work for scalping
 
i trade with a team now and it rules. it justifies my long commute to the office. but never would i trade with my wife. you don't need two ppl in the same household to be put through the emotional rollercoaster on a daily basis.
 
thats how Marty "Buzzy" Schwartz started out when he left the trading floor. He traded with his wife...

I like the concept for short term aggressive trading because focus and concentration are a huge component of it and it is not mentioned all that often...
 
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