We are all paid at the end of the month based upon OUR trading performance. It is easy to measure your pay based solely on YOUR production. This is a mistake. Let’s discuss.

We have two excellent young traders on our desk Dov and DLE. Dov killed it in the fall and then struggled to start 09. DLE was consistent through all of these periods. Frequently I heard DLE say,”It is ok Dov, hang in there.” Dov might be upset and storm off for a walk. When he returned DLE would immediately talk to Dov about levels he was watching. Talk about picking another trader up.

And then Dov got back on track. Last week I heard Dov saying, “It’s ok (DLE). It’s a long day.” DLE had been working on increasing his tier size. DLE had had a few bad days, while the desk was doing very well. DLE was frustrated. And here was his trading partner making sure DLE’s head was in the game. DLE had picked up Dov when he was struggling and now Dov was returning the favor. As a partner in a firm it is hard to be prouder of two guys for stuff like this. These two guys are talented traders and have done very well at the start of their trading careers. But its the little things like the above, which explain their performance. This is what trading as a team is all about.

And on Friday DLE had an exceptional day for an intraday trader. DLE had an exceptional day for an experienced day trader let alone someone in his second year of trading. DLE and Dov have no idea how good they are going to become. Traders do not hit their stride until Year 4. It is so fun to watch their progress. But they are progressing so quickly because they make each other better.

One of our traders who is perhaps the most talented on our desk has been struggling of late. One of our solid traders sent me an email disappointed that this talented trader had been arriving late to the desk. Sometimes before the Open I do administrative work in my office and do not catch when traders arrive. And that is not really my job anyway. I am not a foreman. Also, our traders have enough incentive to perform well. If they come in late the market will punish them. Their work will record their lack of preparation. We will find out.

And I sat with this talented trader and shared that others on the desk were disappointed in him. This solid trader relied on this talented trader for trading ideas. And now if the talented trader was not prepared this would hurt the solid trader’s work. And this solid trader did not appreciate this talented trader’s selfishness.

I just love emails like this. The solid trader is absolutely correct. We do not really trade just for ourselves. We trade as a team. If one is not prepared then this affects others in our group. If guys on our desk pick someone else up then they all do better. And this talented trader should be picking up many others on our desk.

One of our most improved new traders is the best at engaging traders in a discussion about stocks. This most improved trader talks about the FAZ with DLE and Dov and others. These conversations make them all better. But it because this most improved trader initiates and then leads the discussion that they are benefiting. This most improved trader has recently doubled his trading output in the past few months. He has gone from good and making nice progress to excellent. It is not so much his improved results that I notice. It is this habit he has formed of seeking more information and learning from better traders. I wonder if one day he might be the best trader on our desk.

Steve and I talk frequently while we are trading. I have traded for over eleven years. I have navigated many different markets. But there are moments when I am comforted by his opinion. Sometimes I need to hear what he is thinking. If he sees what I see then I add size. If he sees something different then I do not load up.

If you sit on a desk be that trader that picks up others. Be that trader that makes the others around you better. If they become better this will make you money down the road. Do you have a support system with your trading that allows others to pick you up? Is trading really an individual sport?

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