TV show about trading

[dilesh23]

1 and a half hours crying still...... i wouldnt kick that lady out of bed

 

[Bowball]

hahahaha - just seen the old fart buy instead of sell

in fairness to him i have bought, on behalf of a client, EURUSD 880,000,000......when they should have sold

oops

FAOD - their fault

 

[markbritton]

I enjoyed it, but I would have liked it much more if they were trading more technically fromt he charts rather than analysing news stories, and on US stocks / forex rather than mainly UK shares

I agree - I think I only saw a couple of charts on screen throughout the whole of the programme! Just seemed a load of guess work to me! That old bloke was a t**t though wasnt he?

 

[candles]

the way i did that is:

32*10 = 320
320*3 = 960
At this point I get a bit confused and forget what other sums I need to do.

I then tell Lex van dam the answer is about 1000.

 

[candles]

I enjoyed it, but I would have liked it much more if they were trading more technically fromt he charts rather than analysing news stories, and on US stocks / forex rather than mainly UK shares

I agree - I think I only saw a couple of charts on screen throughout the whole of the programme! Just seemed a load of guess work to me! That old bloke was a t**t though wasnt he?

Yes...although he has the exact same voice as that guy from 'peep show'.....David Mitchel

 

[KillPhil08]

It's binary...

 

[Jaydee]

It's exactly what I would have expected from new traders starting out:

They are all randomly punting the market, struggling to deal with their emotions and believe that trading is a game of being right. It will be interesting to see how their mentality changes as they become more experienced.

The old guy won't learn and I can't see him making the cut ever - he just has the wrong attitude. As Lex said on the phone, "Anyone who says buy when they mean sell has sh1t for brains" - wonderful!

 

[Ferru]

My criticism of the show is that the trainees didn't appear to have been given proper training.

It's one thing to be undermined by your own emotions and psychological approach when you know what you're doing. But the trainees do not appear to have been given a clear methodology, so it wasn't too surprising that they resembled headless chickens!

A comparison has been made with the Turtles, but as understand it, the Turtles were given very clear instructions on exactly when to enter and exit a trade.

Regards

Jeff

I enjoyed it, but I would have liked it much more if they were trading more technically fromt he charts rather than analysing news stories, and on US stocks / forex rather than mainly UK shares.

 

[rogue8]

...and the old man looks like jerry springer.

looks like they were taught fundamental and technical analysis methods for whatever timeframe they traded. Seems like they had way too much leeway for analysis to be proficient in two weeks.

Still, interesting to see what happens next week. Things in there I can empathise with.

 

[KillPhil08]

My criticism of the show is that the trainees didn't appear to have been given proper training.

It's one thing to be undermined by your own emotions and psychological approach when you know what you're doing. But the trainees do not appear to have been given a clear methodology, so it wasn't too surprising that they resembled headless chickens!

A comparison has been made with the Turtles, but as understand it, the Turtles were given very clear instructions on exactly when to enter and exit a trade.

Regards

Jeff

They had 2 weeks before they started.

 

[Hoggums]

Agree - they really do have a difficult task. It's like putting them in a room with musical instruments and asking them to perform a symphony. Just not going to happen. After 2 weeks of lessons they might be able to fumble through it which is exactly what they were doing in the trading room.

 

[Ferru]

Indeed.

But where would a reality TV programme be without a car crash or two?

Jeff

what a load of crap!

put a load of newbies in a room and don't tell them anything and then get angry because they don't have any open positions just for the sake of it. Must be just like the turtles (NOT)

 

[Hoggums]

That old bloke is completely useless.

Buying when your trading screen is a sea of red...

 

[dilesh23]

at least with his maths skills he will be able to add up all of his loses and mistakes perfectly

 

[rogue8]

contrarian or just mental.

 

[Jaydee]

My criticism of the show is that the trainees didn't appear to have been given proper training.

It's one thing to be undermined by your own emotions and psychological approach when you know what you're doing. But the trainees do not appear to have been given a clear methodology, so it wasn't too surprising that they resembled headless chickens!

A comparison has been made with the Turtles, but as understand it, the Turtles were given very clear instructions on exactly when to enter and exit a trade.

Regards

Jeff

I think that's how all traders start who haven't been taught a system to follow. You just have to let them get on with it and eventually they start to figure it out in time. All you can do in such situations is hold their hand and guide them where they are going wrong and also pick them up when their moral is down.

That said, the old guy will never get it - no matter how much time you give him.

 

[N Rothschild]

2 weeks of training and ur expected to have the first clue of what your doing? bit optomistic..

 

[Ferru]

I think if the trainees were given proper training, then they would stand a chance. It would have been very interesting had they done a Turtles-style experiment, and made the trainees' own minds the only impediment to their trading success.

But to expect people without a background in economics or statistics to be able to trade successfully using fundamentals in the midst of the greatest period of market turbulance in decades, without telling them how to interpret the available information (and more importantly, how the market is likely to react to that information), is extremely wishful thinking. It's a bit like giving a completely new driver a couple of hours of tuition and expecting him to drive unsupervised in rain and fog on a dual carriageway!

Jeff

It's exactly what I would have expected from new traders starting out:

They are all randomly punting the market, struggling to deal with their emotions and believe that trading is a game of being right. It will be interesting to see how their mentality changes as they become more experienced.

The old guy won't learn and I can't see him making the cut ever - he just has the wrong attitude. As Lex said on the phone, "Anyone who says buy when they mean sell has sh1t for brains" - wonderful!

 

[shadowninja]

enviro guy - wtf, "only buy"

Some people don't "get" shorting.

 

[rols]

Indeed.

But where would a reality TV programme be without a car crash or two?

Jeff

It was a missed opportunity.

Trading has already got a bad name, now people are really going to think its all a gamble.

Another crap reality show with little basis in reality and more interest in making entertainment for the masses.

Plus ca change.