Unlock the Secret to Doing it All

The One-Man Trading Firm

Your Role in Trading

Think for a minute about the structure of a trading firm. Then think about how many people you have in your trading business.

My guess is one… That’s great! No payroll, no big office costs etc. But the downside is that YOU need to wear all of those hats. Many times per day, switching and changing these damn hats. And some of those hats require completely different thinking.

Risk > Trading > Learning > Admin

You get the point. This is not an easy task for a human.

“Make me as much money as possible, watch the risk, protect the capital, learn and improve, fix the computers, log the trades, oh and clean the office!”

No wonder we can find it tough during the trading day.

Today, instead of trying to wear all the hats at once, consider allocating time to each decision. Giving your mind a chance to go really deep into the role. To really understand what’s needed and make a good decision without another ‘role’ reigning you in.

  1. Risk Manager: How will I mitigate risk today? How can I ensure the ‘trader’ protects the capital at all costs?
  1. CEO: What do I want this trading business to look like in 1-2 years? Are the traders improving? Do I provide time for them to learn? Are they trading the right strategies?
  1. Trader: What opportunities are coming up today? How can I make as much as possible without getting sent home?
  1. Junior Trader: How can I learn the most from the market today so in a few months I’ll be ready to trade with a real edge?

You get the idea…

Try it, and let me know if it works.

  • At the top you have the investors, shareholders or founders.
  • Then you have a CEO or Managing Director.
  • Underneath you probably have a risk manager, a researcher, or maybe someone in charge of IT.
  • Then you have the traders, head trader, junior traders and trainees.
  • Maybe an office cleaner, admin clerk, etc.

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Time Management

Wearing all the hats and growing a trading business takes up a LOT of time.

Check out this WSJ interview where Jeff Bezos shares his ideas for Time Management.