Trader's Union

Discussion in 'Professional Trading' started by qdz, Dec 7, 2002.

  1. qdz


    I am not sure if this has ever been discussed or implemented. I'd like to explore the possibility to establish a union and define its goals in this thread, if you could help me to do so. First of all, do not have any bias. I am not a communist/socialist but a capitalist who employ myself.

    What is the primary goal of a union. I think it is to protect the members from harms such as being out of jobs. Unions monitor, negotiate, and fight in situations that the majority of members are mistreated.

    The counter parties of traditional unions are usually the employers of the members. There may not be the case for a trader union since independent traders are thought self-employed. However, these traders are exposed to extreme non-market risks imposed by regulators, exchanges, brokers and special interest groups, which are likely to be the counter parties of a union that it would like to monitor, negotiate and fight with.

    A logical unit of a union may be voluntary traders coming from a same prop/retail broker. But it can grow virtually unlimited larger. Sure, there are many different interest of members, like small traders vs. large traders, scalpers vs. momentum/swing traders. But I am sure there must be some common interests as the base to unite traders in some degree.

    The thought is a work in progress. Any opinion is highly appreciated. Thanks.

  2. nkhoi

    nkhoi Moderator

    how can it be a union when all you do is trying to take (as much as you can) money away from another guy. :D
  3. We can all get paid equal ...
  4. Have you ever seen a union that is NOT about taking as much money away from the other guy as possible?
  5. qdz


    benefits and costs are companions. Costs can be resolved by taking advantage of counter parities. So benefits are greater.


  6. Prop traders can get better rates by switching firms. There's no need for a union. If you're a profitable trader any firm will compete to get you. If you're an unprofitable trader then no one will want you. Plus, commissions compared to several years ago have dropped dramatically to adjust to the enviroment. So it's not like the firms are taking advantage of the traders. Most experienced traders are paying under a penny commission anyway, and if their not, then they're not doing their homework to find a lower cost firm.

    A union enviroment would only be helpful to traders that work full time for companies like Goldman, Lehman, and etc... Even then, those companies would not allow union penetration. Unions tend to favor democrats and they are not favorable to the markets, cause they lean towards income redistribution. Trader share enough of their money through taxes if they're succesful, I don't think they want to share more.
  7. This might be a little premature. but I'll volunteer to collect the dues:D
  8. JWS11


    Sorry, but I really do not see the point here. I became a trader just to get out of organizations of all sorts.
  9. jeffgus


    Start with individual traders bundling their combined order flow....In the business volume is everything. With volume behind call call your own shots. One trader means nothing, 20 combined traders can through some weight around. Work together.
  10. white17


    Sorry to rain on your parade QDZ but I can't think of anything more at odds with capitalism than a union. At the same time, I'm really not surprised by this thread considering the source. I am not trying to pick on you although it may seem that way. It just strikes me that perhaps you might be happier in a government employees union rather than trying to be a successful trader. No offense intended to anyone here.

    Jeffgus: please explain to me how a bunch of independent traders is going to bundle their trades and compete in real time, or in any time. It's my opinion that the volume would be insignificant and the logistics daunting.
    #10     Dec 7, 2002