Don Wilson, Chicago, JEN discussed on Chat With Traders
I'm not sure where this fits into the timeline bit. I think somewhere round about here which you became introduced to Don Wilson In some listeners. Donelson is be found a and the man behind. DIRW massive project trading firm out of Chicago and now uh-huh has a global presence with like five hundred. Also people tell us a little bit about how that came about. Yeah so one of the interest- interesting transitions nations As the years went by on the floor was that as the American market sort of became very very type from an arbitrage perspective. Some of the bigger American trade traders from these. US houses started coming to Europe themselves. Because previous to this period they would sort of train their Judaism out and then kind of stay back in Chicago. Algo one fine day. This American Jen turned up in the pit and said don't Wilson of DFW and of course you know fifty guys like like looked at him and then cattle and chatting amongst ourselves. Because we've never heard of women didn't really care quite frankly but it soon became apparent that you know this guy was forced to be reckoned. I'm with and and that was my first introduction. As competitors and then towards the end of the full period came off I went to she to you. Work with dot and we actually became flatmates. He was my boss and he was Growing the DR WS European side of the business which shaw which is still hugely as you said a huge global business now in Singapore London an Chicago. What gave it away that he was a force to be reckoned with the sort of size and certainty that he traded with whereas we were we were taught to sort of keep it? Small go for big edge trades the only and Kinda recycle effectively. It's sort of an F. T. type model but in the you know due to do fifty to one hundred small trades make decent money on every one of them a few losing trades. And then you kind of go home flat and happy whereas whereas dawn was very much of the mode of this thing is miss price and I'm going to sell it and I'm going to buy back till it's family priced whereas the way we were trained as you sell something that you know if you if you thought an option was worth ten you would sell at twelve and if someone off their eleven well you know what you've made a tick take it back whereas Donna's like why would I pay Levin. It's worth ten which was very change of real mindset change so in a in a way you a very much a scalp e type of China. Yes everyone was on the floor because it's the way you kind of trained whereas don was calabro trader by around a massive position. Yeah okay okay. And did that influence your trading stall in any way it did actually because when we moved upstairs and I went to work for dawn I started to realize that we were full. For years. We'd left age. Inverted Commas are on on the Independent. And we we should have done so much better than we did but and so you sort of take skills it away and start start learning about the longer term trading which you know don was and still is I guess a master of obviously looking at where.