Alessio Rastani Discusses Trading on London Talk-Show

[baostini]

didn't watch it yet, but is this that video that came out about a year ago where the guy is actually full of s*ite? they even spoke about it on the FT or somehting, and it was just some dinky analyst at GS that was trying to make it famous

not sure though. should watch the link

 

[ffsear]

you recommend taking the hour on it?
if you rate it, could you summarise the subject areas addressed, and 2-3 key ideas you thought worthy of note?

YAH! ditto guys.. Can someone have a bullet point synopsis on my desk by noon in order for me to indeed decide weather or not this is a valid use of my very precious time.

YAH!

Your Faithfully, Regards, Bollox

 

[Davidee]

he aint a trader, lives with his girlfriend at her council flat, hardly veiw him as someone to emulate.

He might not have made a lot of money (yet) but was what he said actually true? In all honestly, I think what he said was probably true. Goldman Sachs and the likes do rule the world, western governments gave their power away to the markets long ago and governments didn't know how to fix the problem.

He was probably just being honest when he said he was focused on making a lot of money out the economic problems and not focused on fixing them - better than someone with no idea on how to fix the problem pretending that they know.

 

[BeginnerJoe]

Saw the video. The start was a bit slow, but the later part was fine. He said nothing that was particularly a revelation for me. Although I don't believe banks control the world. I believe people with big guns control the world. The banks are just a convenient scape goat that governments can use to blame their own faults on. For instance, the governments wasted all the money fighting BS wars and then turn around to blame the banks' for failing economies.

For trading, I would listen to what more Rastani had to say. Though in this particular video he said nothing I didn't know. I mentioned repeatedly the markets were a set up worst than casinos. He saw similar saying that the markets were geared to loose people money rather than to make them money. Coin flippers and winnings-spenders should take note - it is a critical point in trading.

 

[trendie]

fairly mundane for experienced traders, possibly insightful for newbies.

Banks want your land! (uses analogy of finding gold in your garden; the banks dont want your gold, they want the real estate its found in)

Newbie traders are encouraged to over-trade, since the brokers make money via commissions. If you trade, the broker makes the same commission whether you made a £1 or £10,000. Its the trade, not the win/loss that matters to them.

He trades the Euro in the morning, and then waits until afternoon for US opening to trade. mostly SP futures. then also in evening at closing hour. so he looks at the volume and directions set by the pros.

He mentions the fact that retail traders are too rooted in the need to be right to make any real money.

The more smart you are, the quicker you are likely to lose your money! The over-analysis kicking in.
Trading is counter-intuitive relative to the culture of "winning" and being right, and not admitting mistakes.

He mentions the double-top as a reasonable means of determining an end to a trend. (uses gold as example)
The trend is your friend! Essentially, just follow the smart guys.

His ability to trade well came from mentoring, by sitting with an experienced trader and learning.
Mentions the mass of scams and useless software being vendored.
Mentions Soros, and how Soros is good because of his ability to change his mind if the markets tell him he is wrong. (ego-lessness)

These are the points I took from it. Nothing new (except the banks thing)

mentions Facebook. says when everyone is talking about buying thats the time to exit! (we knew that)