Hi Bella,
I finished your book and it was so wonderful and inspiring. As a female trader (back in the game after a year and a half away, used to trade on a prop desk), I loved that you addressed the issue of women in trading, you sound like a great guy to work for. I would like to share my experience as a female trader with you, since you expressed interest in the book.
When I worked on a prop desk, I worked for the loveliest, most talented trader I’ve ever met…. and with his unruly employees. When I first started, traders would refer to the stock as a bitch, a whore, a slut, the list goes on. They would say they got raped in a stock if they lost money. I am not like CDT (from your book), I can’t tolerate that kind of thing.
My head trader put a stop to it after I went to him (like I said, he is a great person), but my fellow traders ostracized me after that, they hid callouts via AIM, etc. I would never blame them for my trading weaknesses, but I hated working there and doubt I will ever go back to a prop desk.
I stuck it out for almost three years and that was enough. The sincere disdain they had for me was just so unprofessional.On top of that, their trading was undisciplined. I’m trading by myself now and loving it, but I’m looking for a trading community online that may be more suited to my style and personality. Again, I want to emphasize that I have nothing but respect and admiration for my former head trader, my issue is just with his employees.
Anyway, that kind of experience is what many women fear they will encounter if they trade, and it is probably part of why you haven’t gotten many resumes. Just my thought.
Again, thanks for all you do for the trading community!
8 Comments on “From the prop desk- A woman’s perspective”
When a guy can’t yell obscenities at a stock in a trading room anymore, that’s the end of trading.
I actually disagree, I doubt that yelling obscenities is the lifeblood of trading or the trading rooms. On the contrary, it shows how highly emotional you are in your trading. There will always be exceptions and tongue slips, we are humans after all, but when you reach the point that every other trade you have to curse the hell out of it, it becomes annoying and unprofessional.
Losing control and venting emotion seems like an almost inevitable part of being human and not coping wellwith stress, whether we are trading, driving or whatever. It’s usually not the best response but most of us still suffer from toddler tantrums now and again. The language the men used in this case though is obviously insensitive and a bit ignorant; it might have been learned through watching too many of certain kinds of films….
I’ve never worked in an office, but have spent years on construction sites, which are generally macho type environments. Occasionally there have been women on site. Whilst there would often be a bit of sexist banter I never came across anything like what the trader describes. Surely it’s not normal in trading rooms?
Losing control and venting emotion seems like an almost inevitable part of being human and not coping wellwith stress, whether we are trading, driving or whatever. It’s usually not the best response but most of us still suffer from toddler tantrums now and again. The language the men used in this case though is obviously insensitive and a bit ignorant; it might have been learned through watching too many of certain kinds of films….
I’ve never worked in an office, but have spent years on construction sites, which are generally macho type environments. Occasionally there have been women on site. Whilst there would often be a bit of sexist banter I never came across anything like what the trader describes. Surely it’s not normal in trading rooms?
Yelling is one thing – relieving stress is one thing – even slamming an obscenity or two is understandable. But using anti-female terms consistently, day after day, trade after trade – especially referring to being “raped” is 100% unacceptable language of those who are said in professional psychological circles to hate women on some level. Whether or not that is true, it is certainly indicative of immense disrespect and disregard for women.
The day you actually get raped is the day I will accept you thinking that losing money in a stock is the same thing.
I have been through exactly what the woman in Bella’s article states. I voiced my opinion and was demeaned and ostracized and truly mistreated because of it.
I respect the fact that she took the time to write this letter to Bella, and I’ll trade with her any day.
I never yell myself, but I think I won’t like girl’s selfhood in this case. Anyway, everyone has his own temperament.
Losing control and venting emotion seems like an almost inevitable part of being human and not coping wellwith stress, whether we are trading, driving or whatever.
Sometimes venting emotions can be very useful. If you check tennis players and how they break their racket and start playing better after that it shows you that emotions must go out somewhere, somehow.
Saying that what that lady experienced is very rude from other traders.
I’ve found that when I start cussing at my screen, it’s a sign I need to step away and refocus myself. Otherwise my trading day is about to get a lot worse.