Nervous Clients Make These Tough Times for Brokerages
U.S. brokerages suffered through a difficult third quarter marked by lackluster customer trading, lofty recruiting expenses and anxious clients clinging to conservative investments that are less lucrative for Wall Street.
A very interesting post regarding nervous clients and the broker relationship. Want to share some thoughts on the subject.
As traders and investors, we tend to over focus on the mechanics, platform, commissions, etc., of the process, when in fact, our emotions and psychology influence our success to a much higher degree over the long run.
Perhaps the industry (and our trading accounts) would be in a better place if we went back to the basics--brokers who know us and understand how we invest/trade. To that end, an empathic, competent broker can be invaluable to our success. A broker who understands your emotional make-up, temperment, and approach to trading is a great ally.
I've found that for futures trading, Optimus Trading stands above the crowd. I've traded with Optimus for several years. They are very responsive and highly competent. They listen, get to know who you are, and what you are trying to accomplish. I view Optimus as my "trading buddy or partner"-not just someone who can execute orders.
For 2011, ask yourself if your broker has the right emotional intelligence. If not, consider making a switch. See if that makes a difference in your trading outcomes.