In search of a "Team"

Most of you don't know me, so its probably safe to let you in on a little secret about landing one of those coveted 'trader interviews.'

Myself and roughly 8 other established traders have an interview network.

It serves two direct purposes. One, if you're not right for my shop but possibly a good fit for one of my 'friends' then I'll make sure you get an interview there {they do likewise}. Two, if you're a family friend or someone who is owed a favor, I can get you 1-2 guaranteed interviews. They may find something grand about your style, they may just say thanks, but either way you had an interview and gained experience. 

Due to this network, I've directly interviewed or informally charted no less than 175 individual traders looking for a change of scenery. Some of them are previous floor guys who are just now looking to make the jump upstairs. Some of them are people who heard only the positives of trading {make money, buy cars, get laid} and want a piece of the action. Some have been mathletes, so gifted in algorithmic equations they were qualified to teach collegiate courses. Some are college kids, lured by novels, movies, and rumors that this is the lifestyle of the baller. Of course, some are just traders that are unhappy with their current environment and long for a change

I have a special folder on my external hard drive. It is dedicated solely to cover letters, resumes and maybe a few notes. If you've sent one my way in the last 10 years, chances are that I have a copy of your "work life." As I began to pondering the topic of trading teamwork I decided to cruise through some old CVs and resume.docx to see if the pattern I felt was actually present in my notes or in their text. 

My hunch was that a majority of 'free agents' wanted to be part of a team. Almost none were looking solely for backing in order to trade. My hypothesis was proven correct, over and over and over again. An overwhelming number said virtually the same thing.

They all want to: 

• Be part of a team
• Learn from experienced traders
• Grow under the supervision of proven winners

I understand this is a slightly flawed sample. A statically significant number of the applicants were younger college graduates that had been in the workforce less than 3 years. Therefore, their desire to be under the tutelage of a mentor makes sense. But it intentionally looked up some of the more memorable 'older' traders that were also looking for a change. Though they weren't as many in number, their answers mimicked that of the masses. 

My problem with the "Team Quest" 

I'm a very extroverted guy. My Meyers Briggs is ENTJ and I'm all for social interaction. But, when trading, I prefer a dark room with just me and my monitors. I love to be able to feel the entire market, have a read on the pulse of what's going on. When someone else is in the my room, I feel like I'm there to instruct, manage and converse. Though I love to teach, that's not making my P&L soar. In fact, it distracts me, making it more difficult to see the little nuances that create the optimum chances for wealth and it actually causes me to be to angry at the other trader. All that to say, I've found it's hard to make a living when you're not get paid. I'm sure that some people love a large crowd, but group think hampers my decision making process.

That's not to say you can't be part of a team all working towards a common goal, but deep inside, there's only one voice you have to silence in order to make the hardest trades. For good traders, P&L favors those that attack on their own. The rewards of having no one to split your profits with are usually exponentially better than the alternative. But there's no safety net, protecting your ass when you get tagged for 50k. Your missing partner isn't there to shoulder the loss with you either. You're a solo rolo. Remember: It's just you for better or worse. 

So many traders just want to be given a working model or system and then trade it for me. That's absolutely stupid. Why should I:
A) Teach you to be my competitor
B) Reduce my profit margins
C) Give you the plan for what I love doing without you?

In 13 professional years, I've found trading to be a spiritual experience. For me, trading is a very similar to my walk with Christianity. I was born and raised in a devout family, my faith was always part of life. I was taught how to think about the world as it related to my faith. But it wasn't my faith. It was my parents'. When I did finally examine what I believed, I was kind of shocked to see that I didn't believe what I'd been told. So I crafted a relationship that I was confident in. One that was marked by the lessons I learned while wandering down life's paths. Similar to trading. I can teach you my strategies, I can give you my playbook, I can show you my results, I can instill trading confidence in you. But NONE of this is your own. That has to be created by you and your wanderings, so that you believe in it. That intimate understanding will be paramount on the day when you're down 35K before the opening bell and you need to trade for your paycheck.

Final Blip 

Have confidence in your trade. Be willing to stick your flag in the hill and say that you're going to be able to make it. There is a simple relief and satisfaction in knowing that no other person pays your mortgage. If you're a trader you should WANT to be on your own, a slave to no system other than your own determination.

~LH

ps If I do interview you formally, don't mention you want on my team, I'll ask you to leave