I noticed that Barry Ritholtz recently linked my ship service on expertise. This is a topic of tremendous relevance to professional person trading firms that aspect upward the challenge of hiring successful traders.
A divulge of trading firms that run amongst me get yesteryear quest my aid for their traders, merely thence expand the ambit of our collaboration to assist amongst the hiring procedure itself. The uncomplicated economical reality is that it is much cheaper to hire the correct people than to hire struggling traders who require extensive back upward in addition to remove chances management.
Hiring successful traders is to a greater extent than of a challenge than i powerfulness think. Partly this is because nosotros don't convey a peachy bargain of interrogation to depict upon to predict trading success from failure. Often, trading firms brand the (flawed) supposition that success is a percentage of personality traits, leading them to essay people amongst the "right" interests in addition to characteristics. Even a cursory overview of successful traders at whatever firm, however, reveals considerable multifariousness inwards personality features.
My personal sense across trading firms is that at that topographic point is no holy grail of correct traits that generate success, merely the presence of sure characteristics tin plough over the axe nigh for certain ensure failure. Across dozens of trading firms, I don't mean value I've e'er encountered a successful trader who displayed a high marking of neuroticism (tendency toward negative emotion) in addition to a depression marking of traits related to risk-taking.
A unlike approach to hiring successful traders is to focus on expertise, rather than personality. That is, nosotros await for talents in addition to skills that are predictive of success for item kinds of trading. A Look at a World-Class Trader
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