Recently I've been talking with different traders as I was thinking of going to a pro firm. Some of the offices I've been in are emotional black holes. Usually just one or 2 bad seeds ruin the bunch. I used to work in the corporate world and saw the same thing how a single bad seed can ruin everyone's productivity. Thought my first post on this board should be meaningful. Would anyone care to comment on negative people attitudes affecting them? Stock_lover
In all honesty, I think that alot of traders who first start off trading either "think" that they want an office filled with other traders for moral support or a "buddy" network...In the beginning, it is hard to imagine isolating oneself in a dark room with a bunch of monitors and just staring at screens all day with little social interaction...But after awhile, you begin to realize how much other traders can cost you...Whether it is the distraction of online chat, the atmosphere of a bunch of clowns jumping up and down in a local office or whatever, there is a price to having that comradarie, I think...The best solution, if money were no object, would be to have your own trading team that you could handpick and pre-select for certain skills in certain time frames and certain directions...That would be the ideal..At least then you would have some control over your environment...But to just go to the local trading office and be situated in an environment in which you have no control over seems overly risky to me...I, for one, would not want to spend my formative months in such a situation unless I knew that some of the people around me were mature enough to allow me my own space...I have read several threads in recent weeks about how one or two traders will come into the firm and have a nasty attitude and it becomes like a giant game of Lord of the Flies...Who needs that?>
I remember some trader who although he was good he cursed alot and was looking for a fight if you complained to management about him I think he was eventually transferred to siberia
I agree. Some prop firms tout the team environment. Trading is too important to be in an environment that you can't control. The guy next to you is losing $ daily so his negative energy pulls you down, the guy on your right is a superstar AND he makes it known that he is Da' man' so human nature being what it is you try to emulate him which screws you up. The guy behind you trades on the "side", comes in at 10:30 leaves at 12:00 to go to the gym only to come back at 3:30-but between his comings and goings he has to say hello and chat with everyone. I actually sat next to a guy where every 3rd word is fu_k. So much for environment. Hermit trading is it!
Personally, my level of social interaction is mIRC chat...But I control the chat rooms I visit and the people I discuss markets with...we have a few private chat rooms with only 2-3 people who are all on the same page, same emotional standpoint and same level of respect for others...This way we can all chat when we are bored and stay away from boredom trading or a total lack of focus which can easily occur when you are truly hermit trading...If the market is chopping around and my mind is not 100% that day, I might just sit in the chat rooms for the hell of it...Over the years, I have just come to accept that this type of "virtual office" is the best compromise...The cost of leaving the house and commuting is just not warranted imo...I also cannot deal with egotistical traders...It is a big pet peeve and I am certain that spending time in one of these daytrading shops must really be an experiment in social psychology...
Stock Lover... look into the thread here called " Asking the right questions". The question is why do you want to be there? What are you looking for a firm to provide? The two issues I look at are: that they might hawk a system that might not fit your personality, and what you mentioned, the environment. From one of our Master Interviews: The last time we talked, you were thinking about moving to a day trading firm to have some camaraderie. <i>I did move to a day trading firm... so I trade at an office now. Many of the guys there trade like crazy, I mean theyâre sweating and screaming. You can tell their heart is beating a lot of faster than mine. Iâm sitting there drinking a coke and watching my stock, waiting for its move. I watch my stress level pretty closely because I actually know someone who had a heart problem, and he tended to trade a large volume of shares. I began trading more than usual when I first started going to the firm, because everyone around me was trading all the time. But Iâm very laidback in general. I like to read the news and after I make a trade I like to get up and walk around. Just relax.[/i] Are you able to do remain as relaxed as when you traded at home? I am. It took me about two weeks and a couple of thousand dollars to get back to my normal level of stress and trading style. Now I trade a lot smaller share sizes because of the market conditions, and Iâm very relaxed. Just something to think about. Even in chat rooms or boards I frequent, I feel like I have to be careful about listening too closely. For me, it's to keep it as background noise, and trust my gut. What kind of person are you? How do you filter stimuli?
there was this guy erik, who would stew over a bad day.... It wasnt even his dough and he was getting 20% of gross....AND he still acted like a dusch bag if he wasnt killing it,,,,, freaking sad