TV show about trading

[Jaydee]

Wait, that's how you're supposed to do it isn't it?!

Well, when you are more experienced you can go for your gut instinct - not sure that new traders should work by that method though as they don't have the feel or understanding. For example, they seem to be at a point where buying £1000 RIO is the same as buying £1000 BAY - but RIO is 18 times more volatile and only 9 times more expensive than BAY.

 

[arabianights]

I was joking, because I'm so funny

 

[Jaydee]

I was joking, because I'm so funny

For a moment you had me thinking you were a loose cannon at wherever you trade...

 

[arabianights]

I don't want to disabuse you of that notion either mind

 

[Skill Leverage]

Just seen it on iPlayer... I wish they'd get them doing something interesting like punting the bund or scalping oil... see em all reduced to tears... rather than unleveraged equities and ffs £2500 loss and they're worried? eh?

I too would like to see them leveraged up the ass, to the point where the pensioner shorts USD and nips off to the vending machine for a Snickers, 40 seconds before the Fed announce a rate cut.

 

[Skill Leverage]

'Oh bugger, I'm terribly sorry Mr Van Dam, I seem to have forgotten to place a stop... whoopsie'...
'YOU'VE JUSHT DONE MY ARSH YOU SHTUPID OLD *!?$Q//*%%^^!!!'

 

[dilesh23]

im suprised i didnt hear anyone say "ive got a plan ... we buy 20 million shares of this aim company at 1p with our £200,000 and when if goes upto 10p we get 2 million and then these clowns can come work for us

 

[N Rothschild]

the show makes us look bad...they better not end up making money or anytime you tell someone your a trader they will no doubt make reference to this joke of a program and tell you how easy it is

 

[Windowsill]

I think the programme also did trading a disservice by giving the impression that trading is an extremely stressful occupation.

As Mark Douglas points out, traders are at their best when they are in what he calls a 'carefree' state of mind, ie relaxed but focused, and enjoying themselves.

Jeff

Yes, but notice how relaxed they were in the "pack mentality state":clap: when they were all losing at the same time!!!

 

[rols]

id much prefer to be robbing the rich (hedge funds, investment banks etc etc ) and giving some of my profits to the poor (charaties, homeless people, myself ) then being happy and proud im walking away with some pensioners heating and eating money.

Wrong way round mate

the pensioners are the well off ones these days...

All pensioners over 60 in Britain receive £250 heating allowance this winter
All pensioners over 80 in Britain receive £400 heating allowance

Thats more than enough to keep one bar going....

...they don't know how lucky they are, in my day we 'ad t' pee int ouer pants t' get warm.

 

[Skill Leverage]

While I was at uni we couldn't afford to heat my house, it was f*cking miserable in the Scottish winter. I once slept in a camel coat it was that bad. Should have just moved in with a load of old duffers.

 

[rols]

While I was at uni we couldn't afford to heat my house, it was f*cking miserable in the Scottish winter. I once slept in a camel coat it was that bad. Should have just moved in with a load of old duffers.

University? Camel coat? You were lucky!

 

[Skill Leverage]

University? Camel coat? You were lucky!

yeah yeah, hot gravel and all that...

 

[TomTom]

Watched the programe last night and I could not believe what I saw.
After intensethe candedates training did not have a clue what to do.
When they listen to news an then decide to trade its mad, as all news genarally priced in to the stock.
To me this is not trading, what was showen last night was arm chair investing for normal investors.
Hey imagine filming people like us live and seeing what they make of that ?
I bet it would make better TV than that cra* last night.

 

[fibonelli]

Saw the prog last night.

The main gripe I have with the programme is that the traders were trained up for only two weeks.

The problem with this is that:
There is severe performance anxiety at times;
A tendency to buy the pole and *short the hole (*wtf was that "let's short the banks" all about!?);
A complete lack of chart reading. I could have counted on one hand the number of charts I saw with horizontal and diagonal lines drawn in;
A lack of understanding of *hedging techniques and of shorting. *Notwithstanding a pair trade which would have worked very well if he had done the opposite!

Finally, I'm not sure why they've been restricted to UK Stocks and they seem to be trading the news without really looking at price charts.

edit: Position sizing, risk and money management - there wasn't any!

 

[Mr. Charts]

Really awful.
This was not about trading what you see, in other words hard evidence of price behaviour, it was about guesswork, trading opinions, trading news instead of the reaction. And a bad interpretation of news! A sure fire way to lose. They really should have made good money shorting in that environment.
In my view, the ex-Major's "pair" trade wasn't a pair trade, wasn't a real hedge and was completely the opposite of the probable outcome of the HBOS offer - and that was a well-flagged likely response to the offering.
Those people were chosen more for the entertainment of the programme, not for any potential trading abilities.
One or two of them should "succeed", the rest are probably doomed unless they are fast learners.
Richard

 

[Mr. Charts]

What's more, if they had just read the thread below my signature and put it into effect with solid self-control and sticking to the rules, that one method alone would have made them all profitable LOL
Richard

 

[dilesh23]

i think the million dollar turders were unlucky.... in the sense that the market conditions at the time they were trading was so hectic that the people who were meant to be helping them were too busy worrying about their own positions and trying to make the most money for themselves :smart:

 

[rols]

i think the million dollar turders were unlucky.... in the sense that the market conditions in at the time they were trading was so hectic that the people who were meant to be helping them were too busy worrying about their own positions and trying to make the most money for themselves :smart:

Yes perhaps..

...but let's don't feel too sorry for them

I for one would welcome the opportunity to trade someone else's money for a change.

Wonder how they would get on if paying the bills and mortgage was dependent on their success...

 

[Ferru]

I'm not a fundamentalist trader myself, but I am sure some people make a very good living from watching the news and thinking 'This news will cause a sustained increase in the price of this share' or 'The market will over-react to that event, meaning I can grab some shares at bargain-basement prices'.

Jeff

Watched the programe last night and I could not believe what I saw.
After intensethe candedates training did not have a clue what to do.
When they listen to news an then decide to trade its mad, as all news genarally priced in to the stock.
To me this is not trading, what was showen last night was arm chair investing for normal investors.
Hey imagine filming people like us live and seeing what they make of that ?
I bet it would make better TV than that cra* last night.