Tips & Strategies - Handling Team Conflict
Even when faced with the same facts, interpretations and opinions can differ. It is inevitable that members of your team will disagree at times. An effective team must have a way to resolve differences of opinions. It has to be fast - remember than you only get 60 seconds in a trading day! Disputes must be resolved in seconds, not minutes, and in a way that's fair to all members of the team.
For example, your team agreed to buy 10,000 shares of a stock when it was at $12. When it reaches $20 it's high-fives and fist-bumps all around. $80,000 in profits!
Now what? When half the team wants to sell the stock to invest in something else and the other half wants to ride the wave, who gets their way and who doesn't? And while your team is arguing, time is passing and the "ride the wave" side wins while you debate because you still own the stock until you sell it.