The Great AdapterA: Every month they send me a wire from my account for what
I’m up that month, and they retain an agreed amount of risk
capital.
Q: Do you have a core group of buddies or students whom you
trade with during the day, whom you communicate with on IM?
A: I would say three—and those are all guys in the U.S.—and then
I have multiple IMs up in China. But it’s more for management.
I don’t try and interact too much with their trading when I’m not
there. I’m not calling out trades to them.
Q: Do you find that actually to be a major distraction to call out
trades?
A: Sometimes. That’s one of the benefits of being with just two
or three guys on a daily basis.
Q: What is the conversation between those three guys and you
usually about?
A: It’s typically typing a stock symbol and a question mark. An
opinion or two about the potential trade might be exchanged. If
we both enter, we might discuss exit points or point out something
we like or dislike about the trade.
Q: So you sort of communicate in shorthand with your close
friends?
A: Yes, just a couple guys I have been trading with in an office.
Actually, one amazingly since I started trading in ’99, and one guy
that I’ve been trading with since ’03 to ’04. I trust the way they
trade and visa versa. We are very similar.