Hiring a 30-year old online poker player has shined the spotlight the quiet trading firm, Toro Trading.The firm, who got featured in a huge article about how they hired the poker star Chris Fargis in the LA Times this weekend, hasn’t really made the news before, so we got in touch with them to find out more and ended up speaking with Danon Robinson, who said the firm was launched in 2001 by a bunch of former-floor traders who met at the American Stock Exchange.
Everyone’s in their late-20s to mid-thirties and while they don’t plan on making a habit out of hiring poker players with no trading experience, Fargis is working out pretty well.
“I think poker-playing translates well to trading,” Robinson said. “They have a good knowledge of risk-reward.”
“He came recommended from someone who knew him from the poker world or something like that,” said Robinson.
He’s not quite as good at trading as playing poker, but he’s not bad.
“He’s still with us, so…”
We asked Robinson a few more questions about working Fargis over email.
How long did it take to train him? It’s an ongoing process. He works with one of the partners so is able to learn from him on a daily basis.
Has he made one big trade yet? Not really our model, so no.
Does he trade like a poker player? Hard to say really, but clearly understands risk-reward and size management (how much to risk) from years of poker. That’s a useful skill in our business and life.
Is he the trader you expected he’d be? We’re very happy with the job he has done, his enthusiasm for learning about the business and search for knowledge in general.
Did he teach you guys any poker tricks? None I can recall. He probably doesn’t want to give away any edge.
Do you guys play poker at the firm? Sometimes. Backgammon and bridge are our latest obsessions.
Do you ever catch him playing online poker at work? Never.
Now check out the other young online poker stars who might take your job some day –>