Keep The Faith

The Old Hand

Blog: theoldhand.wordpress.com

• What defines a good Trader

When asked by family and friends what it was that I did for a living I never truly knew how to answer the question and there have been times during my involvement in the mobile phone business that I didn’t want to answer the question!  off course the simple answer is we buy and sell mobile phones in volume and make a profit, but off course it was never going to be that simple nor indeed is it. traders in this business are strange creatures to say the least, interesting people from various walks of life, formed and derived from the highly educated to the non educated. During my time in the business, which is 27 years, I have come across soldiers, doctors, farmers, lawyers and ex-policemen to name but a few professionals who have been engulfed and lured in by the charismatic charm of the mobile phone trading business. I myself came from a farming background. What makes a good trader? Well that’s a very difficult question based on the above variety and mixture of personalities that are attracted to this bizarre and interesting lifestyle.When asked by family and friends what it was that I did for a living I never truly knew how to answer the question and there have been times during my involvement in the mobile phone business that I didn’t want to answer the question!  off course the simple answer is we buy and sell mobile phones in volume and make a profit, but off course it was never going to be that simple nor indeed is it.

traders in this business are strange creatures to say the least, interesting people from various walks of life, formed and derived from the highly educated to the non educated. During my time in the business, which is 27 years, I have come across soldiers, doctors, farmers, lawyers and ex-policemen to name but a few professionals who have been engulfed and lured in by the charismatic charm of the mobile phone trading business. I myself came from a farming background. What makes a good trader? Well that’s a very difficult question based on the above variety and mixture of personalities that are attracted to this bizarre and interesting lifestyle.

from my prospective I would not thank you to put me in a box and categorize me. When I reached the ripening age of 53 I knew that there was never historically a time in my life where I would be or was ever labeled nor was there ever going to be so.

I think the first quality we can attribute to a good mobile phone trader is the desire to be a free and uncontrolled spirit. at the age of 34 I recall brian caudwell of caudwell communications calling me and asking me to return to his company, having left to go it alone, he soon realized that the conversation was not going his way and he called me “a free spirit” off course in a correct and orderly business environment based in a corporate structure this would be deemed as a negative attribute but as a trader I see this as a necessary part of the construction of a trader.

I am by nature an incredibly inquisitive person and have a desire to seek all knowledge and information. this is off course is another attribute a trader needs, necessary for the acquisition of information which will hopefully lead us to that “pot of gold” at the end of the rainbow. off course we all recognize as a trader that information in this business equals profit and the more information you can acquire the more chance you have of successfully securing a deal.

my mothers new partner had a dispute with me a few months ago, it had obviously been underlying with him for some time.  He screamed at me in anger the words “you wont conform” my reply to him was “thank you” yes he had finally got it. Good traders don’t conform to the usual rules and regulations that society has instilled within most of humanity, humanity believing conformity is necessary for contentment, instead they resist and question everything, through desperation this enables them to set out on a journey of discovery which in the case of a good trader will hopefully lead them to discovering the product and off course at the right price ultimately enabling profit. I have had many discussions with various traders over the years about purchasing and sales. the good ones already know the answer to the question, the question been, “What is more important buying or selling?” off course both are important but by a long way buying if far more important than selling. an old friend of mine would say to me “bought right, Half sold” and off course he was correct. this is why we spend so much of our time trying to get as close to the source of the product as we possibly can, reliant on price our business will always be totally dependent on our purchasing ability. a good purchase price takes no selling. as a trader, if you do not understand that philosophy then you are not a true trader.my mothers new partner had a dispute with me a few months ago, it had obviously been underlying with him for some time.  He screamed at me in anger the words “you wont conform” my reply to him was “thank you” yes he had finally got it. Good traders don’t conform to the usual rules and regulations that society has instilled within most of humanity, humanity believing conformity is necessary for contentment, instead they resist and question everything, through desperation this enables them to set out on a journey of discovery which in the case of a good trader will hopefully lead them to discovering the product and off course at the right price ultimately enabling profit. I have had many discussions with various traders over the years about purchasing and sales. the good ones already know the answer to the question, the question been, “What is more important buying or selling?” off course both are important but by a long way buying if far more important than selling. an old friend of mine would say to me “bought right, Half sold” and off course he was correct. this is why we spend so much of our time trying to get as close to the source of the product as we possibly can, reliant on price our business will always be totally dependent on our purchasing ability. a good purchase price takes no selling. as a trader, if you do not understand that philosophy then you are not a true trader.

tenacity is an important attribute to his makeup. the ability to never give up or ever take no for an answer. We will jump from emotions of ecstasy to depths of despair, floods and drought in an instant as though a tap has been turned on and off. I would say that this is the single most important attribute and necessary discipline that we must attain.  this is the one thing that will see us through any given situation that is likely to occur in the world of mobile phone trading and we all know there are many.

to sum up we a very odd creature indeed, no precise formal qualifications, free spirits, incredibly interested in other people and their business, non-conformists with abundance of tenacity and in my case a huge amount of faith in humanity.

a word to any trading company that wishes to employ a good trader, if you want to maximize the potential asset you are acquiring then be prepared to be patient, non controlling and humble because this person is certainly going to tax your patience, question your business practices and challenge your emotions. I would say give it time and you will reap the rewards. Unfortunately time is something we don’t seem to have and I see so many traders fallfrom companies based on the arrogance and ignorance of their masters, resulting in a loss situation for both parties.

Keep the Faith

The Old Hand

Blog: theoldhand.wordpress.com