How important is teamwork to trading? Do you have to be a team player on a prop trading desk or can you just work on your own and not worry about anyone?
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It is not important; you just trade your own book during market hours. Most traders are assholes.
That what i orginally thought, but recently a head trader from a reputable firm spoke about this topic and he basically stated that he wants to see his young traders work together and share ideas so that they can collectively grow and become profitable. I have a interview coming up with the firm, and i was just think about potential question they can or would throw about teamwork and trading.
You best be the shit then, cuz when you fuck up none of your boys going to help you out then. I would say there is teamwork in all areas of trading, it may not be directly working on a team but everyone shares information, views and helps each other out. let's say your trading a market and you need a certain hedge, well another trader may trade that market, are you better off to approach them or go out in the market and get it yourself?
Excellent point, thanks
its important, coz thats wad a MD told me before... you need to share views, tips, cover each other...
imagine you went for a pee/lunch break and there was a breaking news... and none of your colleagues inform you or remind you of ur position... u're screwedd
These are all minor things though..."going go the bathroom" "lunch break" etc...Of course TW matters if ur working on a team that's trading the same product/industry as you, but if not than it doesn't matter at all. The trading floors of most hedge funds are like morgues, no interaction whatsoever except a PM telling a trader to execute an order.
if you're day trading or at one of the trading arcades, there will probably be no teamwork whatsoever.
if you're at a big prop shop or market maker there will be morning and after closing meetings and discussions during the day about trades. most traders will be organized into groups based on what industries/products they trade. there will be a lot of talk about trades and other traders will give you their opinions.
also noteworthy for prop shops, a lot of places have silos that are in direct competition with each other.
if there is teamwork within a silo, it's important to know what's super secret and what's not, and maybe even put out a little disinformation once in a while.
...all depends on the culture of the firm. Some desks are very collabartive and open, and others are very cut-throat where everyone is just looking out for themselves.
Do you know if most of the top/reputed firms are cut-throat or open ? Regardless how they actually are, almost all of them seem to emphasize teamwork on their website.
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