After the close one day this week I encouraged our traders to CALL OUT awesome potential trading opportunities. Shark called out SXCI into one close and the firm and individual traders caught a very profitable trade. I got our Floor Manager into ILMN for an opening drive play at the start of the week. He sent me an email of thanks. The trader to my right got me into GILD on Thursday for a solid trending short trade. Of course then there was GMan who got us all into HGSI. Ripper 🙂
The highlights of my talk went like this:
- If you are shy, don’t be
- If you talk in a low voice, speak up
- Don’t be scared to call something out and be wrong
- Call outs make us all more money
Back in the day if you had an awesome position and you didn’t call it out, good luck to you. No seriously, you would get a good talking to by other guys on the floor.
“WTH did you not call that out?”
The younger generation of traders loves to chat (share ideas via a chat) but not call out their ideas. Most trading floors sound like a church. Yeah so stop with this. You see something of note, call it out so other around you can monetize the opportunity. They will reciprocate, and if you can trade, will improve your PnL.
I was on a call talking behavior that a prop firm should reward. Call outs is one such behavior. Perhaps a firm should reward a trader for the best call out of the day with a bonus?
The single most important behavior a firm must encourage is the mindset of daily improvement. But there is other behavior that improves firm PnL. An experienced trader chatting with a Newb during lunch for example. An experienced trader offering market guidance. @sspencer_smb is wonderful at calling out market levels for traders to respect.
So I ask you: What behavior should a prop firm encourage to improve firm PnL?
no relevant positions