{"id":1474,"date":"2009-01-14T09:21:26","date_gmt":"2009-01-14T16:21:26","guid":{"rendered":"https:\/\/svapm.org\/2009\/01\/14\/what-project-managers-can-learn-from-day-traders\/"},"modified":"2019-08-07T14:32:43","modified_gmt":"2019-08-07T21:32:43","slug":"what-project-managers-can-learn-from-day-traders","status":"publish","type":"post","link":"https:\/\/svapm.org\/?p=1474","title":{"rendered":"What Project Managers can Learn from Day Traders"},"content":{"rendered":"

First an update on voting.\u00a0 Quite a few people really liked Project Manager, which isn’t surprising.\u00a0 There are also some other additions.\u00a0 Check it out and feel free to vote again. VOTE HERE<\/a><\/p>\n

\"WallA Little bit about Day Traders
\n<\/strong><\/p>\n

In the world of financial services, day traders have existed since the first days of formalized markets.\u00a0 What distinguishes a day trader is that they have to close out all their positions every night.\u00a0 Meaning, they start with everything in cash in the morning and end with everything in cash at night.<\/p>\n

So, if I’m a day trader and I start with $1,000,000 in the morning and after I close out all my positions I have $1,200,000, I made 20% on the day.\u00a0 If this happened, I would be an extraordinarily happy person.<\/p>\n

A day trader will make thousands of trades in the course of a day.\u00a0 They watch what’s happening on the market and try to get a sense of the direction it is going in, and with this sense stay one step ahead of the market.<\/p>\n

If they see a gap between the price someone wants to buy a stock at and the price someone else wants to sell a stock at, the day trader will try and fill that gap and make their profit in the process.\u00a0 It is a very fast moving world where one succeeds figuring out what’s happening before other people do.\u00a0 If you get it right, you can make a lot of money.\u00a0 If you get it wrong, you lose a lot of money.\u00a0 And every day, at the close of the day, you know the score.
\nWhat Project Managers can Learn from Day Traders<\/strong><\/p>\n

Project Managers try and makes sense of what is happening on a project.\u00a0 They understand where the project is supposed to go, they try and understand where the project is going, and they try to fill the gap so the project goes in the right direction.<\/p>\n

Things to think about:<\/p>\n