The Case for Starting a Trading Office – Introduction
When starting to trade, you have several options. First, you can open a trading account with the hundreds of online brokers like FXPro, eToro, and EverFX. Second, you can open a trading floor where you will hire people, train them, and then trade as a team. Third, you can get a job at a financial institution like a hedge fund or a bank. Or, you can 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.
However, I believe that starting your own trading office early in life will help you make good money and become a better trader. At Day Trade The World (DTTW), we have had the experience of serving day traders from around the world for almost twenty years.
- 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.
- Second, a trading office gives you a chance to trade as a team. As the saying goes, two hands are better than one. 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.
- Third, 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. 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.
- Fourth, having a trading office nurtures you as an entrepreneur. As I have mentioned before, traders who take trading as a business succeed more than those who take it as a hobby. When you start a trading office however, you do everything that businesses do. You hire people, get a trading office, pay them, pay taxes, and even market your fund to potential investors. This gives you a chance to better your business skills.
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.
Finally, opening a trading office is not as costly as starting your own individual account. True, many brokers allow you to start trading with as little as $250. 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.