these are really dumb generalizations. wake up, it's the 21st century! as a trader, you should know better...
... hence the heading to my post! ... I have got a book that has done a study of ethnic behavioral profiles, to help people do business in a cross-cultural international context... the books called "When Cultures Collide", and it most definitely provides some food for thought... http://www.amazon.com/exec/obidos/A...62451/sr=8-1/ref=sr_8_3_1/103-6349688-5915826
Interesting thread. I think -no fear- of success in whichever form is an important characteristic, and it's prevalant in all societies. It'd be hard to quantify or even assume that some cultures have more or less of it. Surprisingly though. I've found that most of the top 10 traders at the three firms I've visited in the past two weeks are first or second generation immigrants and the quality they all seem to share is hunger for the grain mill. This is a worldco thread, so to keep things on-topic, I thought i'd also share that the top 3 traders at worldco is an Anglo-American, a Russian-American and an Asian-American and their trading styles aren't very different. i think their style consists of heavy research. while equipped with a set of brass balls.
I think the key here is "the hunger". You'll often find that those who have no alternative will make trading work for them where those who have a fallback (career they can go back to, trust account, other business) will have more trouble. It's like a ham and eggs breakfast... the chicken was involved, the pig was committed.
Originally posted by candletrader Some (dangerous?), politically incorrect generalisations I suspect Asians are more fearful of failure, as a result of their familial infrastructure... so they would be very defensive in their trading, on average (Hitman, you are Chinese... would you agree with this?) I suspect that Americans, Western Europeans, Canadians and Australians are more aggressive in their style, and would take positions somewhat more rashly and earlier than other groups. I suspect that Eastern Europeans are somewhat more technical in their trading, and would be more likely to be systems traders than discretionary traders. -------------------------------------------------------------------------------- I believe our defensive/offensive strategies are more likely shaped by our experience with bad trades. It has nothing to do whether we're Chinese, Korean,European, etc. The other major influence is the mentor, the new trader will adapt their trading style to what their mentor has taught them. Thus, in the end they'll create their own trading strategies. Don't you agree, Hitman?
Social/environmental background has got to have something to do with a persons perception of the market, and the world, so it will have at least some(small, large?)effect on their style. IMO. But of course, the market doesn't care.
Hitman <WorldCo LLC , New York City was fined $175,000 for violationg NASD daytrading rules > The report says this was from October 1998- March 2000 and involved a former CFO ? I hope you guys are running a tighter ship now ? Any comments ? Seth
Fines are the equivalent of taxes, bad press and controversies are the equivalent of free advertisement.
This sort of points out our different business models. You must break the law to get fined, where you follow the rules and pay your share of taxes. Come on Hitman, this is pretty damaging to your firm....you don't really think that way.....do you?? This type of thinking is bad for the industry, and you are (of course) free to feel any way you like.....but this is not good. Traders and trading firms should be able to succeed without resorting to illegal tactics....you agree with that don't you. ??