When starting to trade, you have several options:
- Open a trading account with the hundreds of online brokers like FXPro, eToro, and EverFX
- Open a trading floor where you will hire people, train them, and then trade as a team
- Get a job at a financial institution like a hedge fund or a bank
- Work in a trading floor run and managed by another person.
All these are good ways to make money as a trader. In fact, working in a trading office or in a financial institution will help you become a better trader in future. Take a look at some of the best performing hedge fund managers and notice that most of them started out working for other institutions.
Opening your own trading account is also good because it helps you learn first-hand about trading. It also allows you to make several mistakes as you start trading.
Apart from putting a serious dent into your wallet, starting your own business idea takes much of your time and effort. But we have a better deal for you!
Contents
1. New Opportunities
First, opening your own trading office opens your financial world to new opportunities. As a office owner, you have the chance of hiring your own team and training them on trading.
By taking time to hire the best traders and training them about trading and finance, you get a chance to grow and better your trading skills. It also opens up opportunities to run your office as a business and leap the benefits. As the saying goes, two hands are better than one.
In this regards, it will help to enhance collaborations and increase accountability. By working as part of a team, you will collaborate often with your teammates and achieve better results. In most cases, people who trade by themselves fail at a faster rate than those who work as part of a team.
Related » Office Manager vs Solo Trader
At the same time, when you are part of a team, you boost the state of accountability when you are day trader. That’s important because it will help you become a better day trader. If you are a good solo trader, being part of a trading floor will make you an even better trader.
You become an enterpreneur
In this case, having more traders who are good at it is always better than trading by yourself. For example, when you spot a trading opportunity, as an individual trader, you might think of initiating it.
But, if you are a team, you might think of consulting your team mates who will share their ideas with you. Then, you will make better trading decisions.
Related » How to Create a Better Working Relationship With Your Team
When you start a trading office however, you do everything that businesses do. You hire people, get a trading office, pay them (or, if necessary, fire them), pay taxes, and even market your fund to potential investors. This gives you a chance to better your business skills.
Avoid Boredom and boost performances
Trading alone can be boring and no one wants to live a boring life. This is because trading is often repetitive in that, you wake up, do your analysis, and initiate trades.
Related » Can a Daily Trading Routine Make your Trades more Efficient?
So, when you have a team of traders, chances of your trading profession being boring are slightly lower. In your trading office, you will have the opportunity to discuss issues, share opinions, and learn from your team mates.
When you are trading alone, you do your own analysis and make singular decisions without having anyone to learn from.
2. Scalable Profits: Make More Money!
Developing your own business means there is the cost of:
- Advertising
- Marketing
- Inventory replenishment
- Debt repayment
- Your company website
- A security software suite
and maybe an administrator to make it all work right. Whew! Everyone you hire will look to you for support.
By contrast, our team is committed to your success, and we are always available.
Also, opening a trading office gives you an opportunity to make more money. When you open a trading account with us, we credit your fund with money which you and your team will be trading with.
Then, from your profits, we take a cut in commissions which means that we only make money when you make money.
Therefore, we give you all the skills and education that you need to be a good trader.
You don’t need to start big
The benefit of doing this is that you can start small and then grow your team over time.
In most cases, floor managers start with a small number of traders, test the waters, and then add their team as they become more profitable. We have seen several people start their floors to reach more than 30 people.
3. You will receive expertise, support, and the tools
In a startup, you will also hire an attorney because of trademarks, copyrights or patents. In case you involve other people, you will need partnership documents and non-disclosure forms, and let’s face it, you will have to consult with an attorney all the time. Therefore, you will probably pay for an ongoing relationship.
By opening your own trading office, you receive the support of a team of seasoned professionals, and it is part of the investment cost.
We make money when you make money, and we support you the whole way.
Proper Training
We provide comprehensive training to run a trading office, whereas the new start-up requires you to put a nice face out for the public in the hopes you will be noticed. You will need money to create a company sign and logo, stationary and promotional materials, and an advertising agency and a public relations expert. You will also need fees to enter trade shows.
Likewise, you will need materials and fees to pay the Chamber of Commerce. With us, it is just training on how to manage your trading office.
Technology
With training, you will be completely involved in the day-trading business. In the startup, while you are looking for funds to wine and dine prospects and to pay for bulk-mailing campaigns and customer leads, we could show you how much easier it is to apply our Three Pillars of Success™ to your own day trading office.
In a startup, it may not even be possible to calculate the risk you are taking on accurately with your own business. The risk management we provide a day trader will minimize your losses from the start.
While you are chewing on the costs of wages and benefits, we could be giving you the ability to make large profits in only six months (but this is also up to you and your team).
By doing it the other way, you push back profitability for at least a year and probably closer to three years. That will put a strain on your revenues for a long time.
The bottom line: We make you profitable so much faster.
4. Is not that expensive!
Opening a trading office is not as costly as starting your own individual account.
True, many brokers allow you to start trading with less than $500. But, that is risky, and chances are that your money will be lost. On the other hand, starting a trading office is not that expensive because we give you the money to trade with.
Our startup costs are also much lower compared to the $100,000 necessary for a new startup. With your own business startup, you pay the cost of the products, the cost of hiring and the cost of selling.
With our opportunity, you learn how to run a trading office while your traders discover new markets worldwide and make money for you (You don’t have to know how to trade to run a successful trading office).
In the startup model, you will have to warehouse your product, pack it, ship it and pay the freight. We do not require any of that stuff. Finally, you will need to pay for insurance, and that is not cheap.
Related » LLC Company for Day Trading
Work-life balance
As a trading floor manager, there is a high chance that you will have a good work-life balance. For one, most floor managers do minimal trading themselves. Instead, they focus on hiring and managing their floors.
This mean that they have more time for their own. In some other cases, some managers usually delegate their managerial functions to other team members.
Most importantly, the market is usually closed during the weekend, which is time you can use to rest and spend time with your family.
Other Useful Resources
- Why did you start investing and/or trading? – Quora