I've never worked at the proprietary desk at Goldman, thus I don't know how exactly they handle it with their trading operations. But, with any business task, you should break it down into the most fundamental tasks, the most fundamental processes. You could do that relatively easy. Break it down into as small a process as possible and find employees to execute on those tasks. This is called batch processing, and anyone can basically handle the small processes. While executing on the whole task itself would be harder for most people since that would involve using the brain, and that is very hard to do and focus for the long term for the most people. That is the secret to making your employees being an asset to you, and your business. Just like McDonald's making burgers, though they don't make the best burgers in the world, they make the most burgers in the world. That's what matters, breaking down a complex tasks into batches of processes, and executing on the batch processing process. I'm sure some of the functions in your trading operation too can be broken down into its bare bones processes.
Yes, i could break some functions in parts - but not without sharing at least a part of my advantage/secret of success. And this is bad, you know. So if you dont mind, please tell me more, how did you seperate your employers from your secret ? What are they doing for you exactly and what is your job ? Thats the key problem, yes its the only problem. If i have to share only parts of my knowledge, i wont do it and stay a private individual trader and just go with private banking with the big banks. You know, all the money in the world i can do as a individual trader - thats not what this is about. I just like to build things up to big working systems. I know i could build up a big company and have a lot of fun with it, while making a lot of money. Its just that, to build something up together with other people is much more satisfied, than doing it all alone - i mean i am not alone on this planet. Do you know what i mean ? Thanks
Another question: How do companies with a unique business secret handle this secret between their employers ??? Break it up in parts, so that nobody can see the connection between it ??? Yep, but thats not so easy in Charting, since i only work with charts and indicators, special candelstick szenarios. How i said, only way i see, is to find or let make some good software, which does a part of my analysis for me. But that doesnt exist, and i would have to pay for it. Another 100k$ just for that - just a waste of time and money in the end ???
Four years ago I became ill and still working toward getting well, but I could see it was going to be a tough road to climb, so I decided to hire people to trade, program and etc...They only trade my funds. I was lucky, one of the big defense companies were laying off engineers, some the brightest folks around, so little by little I started hiring them. It has worked out very good for them as I probably pay them much more than whatever going rate is, but they are happy when they work, and they cover three shifts. Little by little some program to automate my methods, some only backtest. I watch them trade remotely, they stay at their home and I have cameras on them which I can watch from my office. I never could stand going somewhere to trade and I don't want to rent an office. Some traders do good contract size and have another guy who never will trade more than a one lot as he trades my "idea systems", mainly to see if it will work out in real time. Yes, you have to get an excellent lawyer, don't want them to be walking off with what goes on under my employ. So each have signed a ten year agreement. I run the show, but it is seldom ever more than 3-4 folks in any eight hour period, I occassionally drop by their homes to just say hi and tell them they doing a great job. I now have a total of 11 employees, they all trade in one fashion or another, either stocks, commodities, long, short or day trading. I do have one gal who mainly does cross checking statements and traders logs, but when finished, she trades too. Trading is very lonesome and can make you change your personality to become worse, but am thinking you might want to consider the "whys' first before hiring people, this is stressful enough without screaming at those who can do you financial harm.
Thank you Handle, very nice insight. So you are not afraid that they steal all your knowledge, because they have signed a contract with you - thats the only way, of course. Yes my trading is very lonesome and it has changed me definitely to some kind of robot zombie - wasting my life before monitors for the money. Since private banking exists, i dont need to be a company. But if would must be one, to make more money, i could be a 1 man company. But this all is so lonesome and that makes me sick inside myself. I dont want to quitt trading, for that i really love it too much. I love it that i am so good, i just love everything about it. There is nothing greater in my world than just pick a setup on a market and trade this setup and making a good bunch of money, and saying to myself, "see you are the man - you are the real trader". I dont know more, this seems to be very complicated. Thanks for your participation on this thread. Best HTR
Even though my employees sign various nondisclosure agreements, I would never let them know of my exact strategies. I have my research functions separated into batch processes, and the rest are administrative and support functions that are handled in house. My strategies would never be exposed on anyone under any circumstance. No matter how many nondisclosure agreements or non compete agreements they sign. I have made a small mistake initially, and I have learned well.
Trading solo, is lonely yes. Music, tv, a movie in the background, Social networking during the trading day can mix it up. Get a solid group on twitter to follow/converse with throughout the trading day. The best thing is to have a hobby/fun activity to look forward to after the trading day.
HTR, you can always teach someone, helps with interaction of one's day. I take three students a year and work with them up to two years. They wire a healthy amount into like a joint account to make sure they are in earnest and rest of the fee comes out of their profits, if after so many months, they still don't get it, I refund that account. But you never teach them everything till close to the end. And no, I can't handle any more students. Don't even ask.
I would agree, except the part about the solid group. I find that whenever I talk about what I'm going to do I feel locked in. It started when I was a broker and I spent all day convincing clients to get long, then I felt frozen when I could easily see there was a good opportunity short. Stay lonely, stay free