TV show about trading

[msrxlbp2]

On the whole a good tv show that seems to have taken a group of (relatively) smart people from a few different walks of life who think they have what it takes to make it in the real world. I particularly found it funny watching the old guy (who was planning on managing his pension via day trading) find out that he didn't have a clue what to do. The only guy who had an actual justification for his trades was the ex-soldier.

To be fair as well they were forced to trade when they were still just watching events unfold and looking at how they affected prices so it was hardly suprising they all lost money. With that said it shouldn't have been that difficult to short a few financial names in the midst of all the banks collapsing...?!

 

[neil]

Old Duffer

overall, first episode a scene-setter.
would have been good to know what they were taught in the 2 weeks, to provide context of their trades, and whether their trades truly reflected their training, or whether they are ignoring their training.
really surprised they have such a full screen; in real life, wouldnt they focus on a handful of companies they gain familiarity with?

I wonder how those hoping to go on GS or DW 2-day weekend courses are feeling, knowing that "better trained" candidates with 2 weeks training still struggle?! even with support and being in company of fellow traders. (and with starting pot of £25K).

I reckon the upshot is the economics student is going to get analysis-paralysis. the old-duffer gets thrown out the window. (he doesnt die from hitting the pavement below, but by a fractured skull after being hit by a cereal bowl that is thrown after him.) the women will do well enough to make a living, but not from the trading office. the ethical guy slowly turns cynical and makes the most money.the soldier plods on and does fairly well. the fight-promoter get macho and blows his account. (actually, maybe that could happen to soldier-man).

cue series 2. cheap TV, unpaid members of public performing for the masses.
(still want to know what they were taught)

Oi !- Trendy...us old buggers arn't all stupid
Silly sod bought BBingley didn't he despite all the info screaming the contrary! He was trying to copy one of the others who bought the Spanish bank.
Seriously though - I could only trade via TA - nice chart on show. Even saw some consolidation areas on the visible charts. Pity it's phone dealing only.
Wish I could trade someone else's cash :whistling

I feel better now

 

[oiltanker]

a couple of months ago one friend on mine with no knowledge of the markets or trading bought a few thousand banking shares without even looking at a chart because she thought they were cheap. When she told me i nearly fell off my chair when i looked at the charts and saw she bought into a strong downtrend. After a draw down of 15% she is now up 25%.

 

[mkhall]

Some foolish mistakes made, at one point I thought Lex was going to come down there and do god knows what to all of them.

Dose any one know what platform they were using.

 

[trigger72]

Some foolish mistakes made, at one point I thought Lex was going to come down there and do god knows what to all of them.

Dose any one know what platform they were using.

Looked like Bloomberg only to me - I couldn't see anything else. The monitors are distinctive and you see the Bloomberg channel on in the background all the time so a deal was probably done.

 

[Skill Leverage]

Yeah the old fella getting in on Bradford and Bingley just because the hippy did well out of 'the banks' made me **** myself. Did he bother to check that Bradford and Bingley were in the toilet over the amount of bad debt it had in buy-to-let loans? Oh, one bank just did well, that means another bank will probably go up straight after. And he reckons he went to Oxford...

 

[shadowninja]

a couple of months ago one friend on mine with no knowledge of the markets or trading bought a few thousand banking shares without even looking at a chart because she thought they were cheap. When she told me i nearly fell off my chair when i looked at the charts and saw she bought into a strong downtrend. After a draw down of 15% she is now up 25%.

It's not conclusive until she closes the position. And if she's that good, tell her to pull the same trick 100 times.

 

[Jaydee]

Looked like Bloomberg only to me - I couldn't see anything else. The monitors are distinctive and you see the Bloomberg channel on in the background all the time so a deal was probably done.

Yeah, it's Bloomberg. Lex is losing more money on the licenses of those things than the loses of the group as a whole.

 

[Skill Leverage]

a couple of months ago one friend on mine with no knowledge of the markets or trading bought a few thousand banking shares without even looking at a chart because she thought they were cheap. When she told me i nearly fell off my chair when i looked at the charts and saw she bought into a strong downtrend. After a draw down of 15% she is now up 25%.

A couple of months ago I hit the bullseye on a dart board in one attempt, even though I have no idea how to properly throw a dart.

 

[gooseman]

the sidekick is anton kriel-he is at JP now on the single stocks desk i think. smarter than he came across last night.

i guarantee they are not paying bloomberg for that sort of exposure.....

 

[zupcon]

i guarantee they are not paying bloomberg for that sort of exposure.....

That was my first thought, the bloomberg licencing was probably costing more than the groups combined losses.

I thought that the producers did OK at capturing some of the typical emotions we'd expect to have seen from the group, overconfidence, fear of pulling the trigger etc. I was also surprised to see just how quickly the group polorized into weak and strong players, if the bookies are taking bets, my money is on the cage fight promoter

 

[tightstops]

i thrive under pressure actually. whats 32x32? oooh my brain is just not functioning. lol.
my moneys on the black academic. the frequent traders have next to no chance as theyll be compounding the markets edge over them. having said that as soon as they start noticing that they normally get stopped out when they go long they or any of them might stumble into some very rewarding shorts. we know with hindsight there were a few. any of them taken a look at lehman brothers yet?

 

[bbmac]

I was surprised that other than that pre news trade (citi group earnings) when they all went short on financials and the fin sector rallyed on earnings not as bad as expected....even though their trades were essentially based around fundamental analysis they didn't seek an technical entry, and a technically sound place to put a stop??

I'm sure we all recognised the emotions and personality types already well discussed in this and other threads. Essentially though Van Damm's strategy appears to be 'pearl fishing' ie see which shine/show promise on basic talent/raw knowledge and bin the rest. Fair strategy but high attrition.

The supervisor of the floor, Anton Kriell apparently went fromn Lehmans (!) to Goldman to head a specialist sector of their equities team before 'retiring.'

The emphasis seemed to be on risk management and being involved (you got to be in it to win it) with the aim obviously being who could make sensible well though out trades with risk minimised and ride the upside if it came.

All in all entertaining though.

 

[Jaydee]

I was surprised they hadn't been given any advice on position sizing (if they did, they didn't use it). The trainer talks about risk management without telling them how to manage risk! Their sizing ideas seem to be based on, "What the heck, I'll use the full whack" or " I'll put the smallest size on 'cos I'm scared".

 

[arabianights]

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?

 

[arabianights]

Their sizing ideas seem to be based on, "What the heck, I'll use the full whack" or " I'll put the smallest size on 'cos I'm scared".

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

 

[gooseman]

"it's been a bad day, the traders have lost £250".

 

[Jaydee]

"it's been a bad day, the traders have lost £250".

What about when the girl shorts 200 BAY and it goes down a penny - she's elated for all of £2 profit!

 

[PokerBrat]

Does it make me a bad person if I hope that they do? Got to take advantage of the dead money..

My thoughts exactly. Don't understand all the concern on this thread about amateurs blowing their savings in the market. Trading is a zero-sum game, gotta be live ones in there for us to make any money.

 

[dilesh23]

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.