Sunday 15 October 2017

Traders Going Online - The Last Yard Is The Hardest.

More and more QVM Traders are establishing an online presence, but for many it is just getting started that is the hard part, and at QVM we haven’t yet worked out how to help them.

One of our senior traders (with an active website) says that we need a better structure to convert more traders to the benefits of online trading. He recalls how, as a Trader Representative, he used to act as translator for non-English speaking traders to make sure the message got through. It required direct personal intervention to make sure a result was achieved.

For many traders, going online is a very difficult task. There is plenty of technical information around, and there are many websites that offer step by step guidance. QVM even has its own assistance package. But if you have language difficulties, or are not technically minded, the process can be daunting.

Without being too dramatic, we are in very difficult times - poor business conditions, struggling financials, and low confidence levels all add to the barriers for traders. Faced with all those difficulties, traders are more likely to find reasons not to embrace online. It is easier to blame management for not bringing us enough customers than to step into the scary new world of technology.

There is a famous saying that you can lead a horse to water but you can’t make it drink. Well maybe the horse sees a ditch that others don’t see and he or she needs a bit more guidance. That last yard can be the secret to success or failure. The question is how do we get over the last yard? At least one senior trader believes that one to one intervention is the way.