Say a billionaire approached you and asked: in a perfect world what would you need to be your best trader? Assume you worked at a prop firm so any of this would also be available for your fellow traders. He would offer an open checkbook. You would trade and focus only on growing your P&L.
Here is my partial list:
1) Programmers to build and improve trading tools to grow our P$L.
2) A team of outside trading coaches available to work with traders on individual concerns.
3) Capital for the best traders to take on more risk.
4) Money dedicated solely to building moral.
5) Draws for traders working hard, not yet making enough money in their first two years.
6) A culture committed to getting better everyday. For example I recently visited a top US Hedge Fund that offers an in-house gym and personal trainers for anyone interested. I am not suggesting a firm needs a gym just the culture of always striving to get better and the understanding that all the little things like exercise are important.
7) Access to all markets and products.
8) An ability to always grow- a firm without a ceiling.
9) Capital for new systems developed and back tested by traders that most interest them.
10) A firm training you to be your best person with trading as the vehicle for this growth. It is not about the money. It is not about just the competition. It is about growing people who know they can become great at anything because they have as traders.
What would be on your list?
Mike Bellafiore
Author, One Good Trade
5 Comments on “In a Perfect World”
11.) Funds to setup an office in a relaxed environment i.e. San Diego, Kauai, etc 🙂 I have found myself to hit another level of trading when on the road and in an ultra relaxing environment.
Having an in-house gym is a great and often over-looked point.
Side note: I was going to say at first glance that did look like Kauai 🙂
Thanks for sharing Mr. Bellafiore
I believe SMB is doing the right things to get there.
An environment that encourages teamwork and communication so that when a trader is off their game they have other people to fall back on.
Also, a firm that provides a strong foundation to both new and experienced traders. giving them structure, and a daily routine that will increase their chances of success.
The ability to setup offices internationally so that people in countries such as Australia (hint hint) could share in the SMB philosophy/experience, trade markets in real time around the sun, and allow staff to continue the experience in a country of their choosing 🙂
Agh looks like you guys use wordpress too…I hate when you type 8) it gives you the stupid smiley face…lol