Traits of a Trading Assistant

Discussion in 'Professional Trading' started by syspool, Mar 8, 2006.

  1. syspool


    I work with Trading Assistants who watch my stock positions in my absence during trading hours. They are to trade only by my simple swing method, mostly exit positions and sometimes enter new ones.

    More often than not these "traders" make wrong decisions costing me money in losses and unrealized profits.

    I am considering employing people who do not know much or not anything about technical indicators and the stock market to watch my stocks and trade for me.

    Can anyone tell me what kind of person I should look for? And what kind of remuneration would be best. So far I used a fixed hourly rate plus a percentage of the profits.

    Thanks for your inputs.
  2. It won't make any difference, infact having traders with little experience is better. You have to define clearly all your rules and parameters to them under any scenarios, otherwise no one can trade your method
  3. I think you should buy some mutual funds.


    Why are you absent during traders hours? That's like a surgeon being absent during a scheduled surgery.

  5. syspool


    I swingtrade stocks and I am usually in a stock for 1 to 5 days, on average 3 days. I find it pretty boring sitting in front of the computer for hours watching a dozen stocks.

    Although my profits are around 20% per month I prefer to be out during trading hours, tending to family and hobbies. And I travel sometimes and do not always have access to computer. That's why I have a couple of assistants watching my positions.
  6. bitrend


    Look for someone who don't really like to argue. This person will likely follow your rules completely.
  7. My input. Why would any trader leave an "assistant" to execute at his/her discretion?

    You say "They are to trade only by my simple swing method, mostly exit positions and sometimes enter new ones."

    Yet your assistants are the ones "costing you money" executing under YOUR rules??? Sorry man...but I call BS on your post.

  8. hehehe

    Its called making money work for you.

    Not everyone is a one man company at home duking it out 9 hours a day :D
  9. That I can understand 100%. But if you leave an amateur to execute at their discretion...well what do you expect? Garbage in garbage out.
  10. Surdo


    You get what you pay for.
    Either pay a clerk to execute and not think, or pay a "Trader" a little more to use discretion.

    I am available for a price!
    I even get Starbucks.
    #10     Mar 8, 2006