Yes I Do Have A T2w Id!
I've been watching this thread and your collective slagging off of the team and particularly of me, with some amusement over the last few weeks. Remember the selection criteria - we had NOT to have done any professional trading before the programme, so all you trading geniuses would not have qualified.
I applied (among 4000 others) because I had previously dabbled unsuccessfully in trading in a very small way, and I wanted to give it a go with the benefit of having some excellent, albeit limited, training. By the end of episode2, I had unfortunately proved to myself that I appeared not to have the complete skill set necessary to be a successul trader, so an honourable exit (as I saw it) seemed the only reasonable way out.
I had an amazing ride and made some great friends on the way, whom I still retain. It's a pity that I didn't make any money, but nor did most people in the city at that time (July/Aug 2008), and I have absolutely no regrets about my experience.
The slagging off can now restart!
I've been watching this thread and your collective slagging off of the team and particularly of me, with some amusement over the last few weeks. Remember the selection criteria - we had NOT to have done any professional trading before the programme, so all you trading geniuses would not have qualified.
I applied (among 4000 others) because I had previously dabbled unsuccessfully in trading in a very small way, and I wanted to give it a go with the benefit of having some excellent, albeit limited, training. By the end of episode2, I had unfortunately proved to myself that I appeared not to have the complete skill set necessary to be a successul trader, so an honourable exit (as I saw it) seemed the only reasonable way out.
I had an amazing ride and made some great friends on the way, whom I still retain. It's a pity that I didn't make any money, but nor did most people in the city at that time (July/Aug 2008), and I have absolutely no regrets about my experience.
The slagging off can now restart!
For the record, you are wrong in this unfair assertion
Atilla
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Must confess I was glad to see you go as I found you irritating. I'm sure you are a delightful chappy outside of the trading room but in there I just found you totally flippant and indifferent to the serious nature of trading.
What did you base your trades on after their two week training?
Did they give you any entry / exit criteria?
Was there any system you or the others used?
timsk
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Hi Simon,
Welcome to T2W,
Don't take all the 'slagging off' comments personally. It looks very much as if your training left a lot to be desired and, for the record, I doubt that there are many peeps here who would disagree with your assessment of Lex's right hand man!
Tim.
P.S. There are lots of good people on T2W - and good traders too - who will be very happy to assist you if you decide to pursue trading without the pressures of a TV crew looking over your shoulder.
Welcome to T2W,
Don't take all the 'slagging off' comments personally. It looks very much as if your training left a lot to be desired and, for the record, I doubt that there are many peeps here who would disagree with your assessment of Lex's right hand man!
Tim.
P.S. There are lots of good people on T2W - and good traders too - who will be very happy to assist you if you decide to pursue trading without the pressures of a TV crew looking over your shoulder.
The Psychological challenge
You've put it very well; I assure you that none of it was rigged, and I don't think we were chosen for entertainment value. This was the first time that I had ever come across a task that I thought I should be able to do if I REALLY put my mind to it (as I did), but I found sadly that I couldn't.
No matter, I've flourished doing lots of other interesting things in my life, and I will now carry on doing them and others!
You've put it very well; I assure you that none of it was rigged, and I don't think we were chosen for entertainment value. This was the first time that I had ever come across a task that I thought I should be able to do if I REALLY put my mind to it (as I did), but I found sadly that I couldn't.
No matter, I've flourished doing lots of other interesting things in my life, and I will now carry on doing them and others!
It was filmed in July/August 2008, at which time shorting financials was OK.
I don't really get the premise of the show really. If they had done a turtles and given people systems to follow then maybe it would have been interesting.
From what I can make out they selected a few random people, gave them insignificant training and have received insignificant results over an insignificant timeframe. What is the point it is trying to make? That trading is harder than it looks and requires training, perseverence and time to learn.
To be honest it makes the guys who set it up look like idiots to me, what did they think the outcome was going to be?
From what I can make out they selected a few random people, gave them insignificant training and have received insignificant results over an insignificant timeframe. What is the point it is trying to make? That trading is harder than it looks and requires training, perseverence and time to learn.
To be honest it makes the guys who set it up look like idiots to me, what did they think the outcome was going to be?
Atilla
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Advertising to promote the derivatives industry to every Tom Dick and Harry with redundancy or pension money to burn.
It's deliberately aimed at armchair non-trader community.
I also would bet they have sponsorship from various companies and the producers get to to sell their production to TV networks.
Nothing in life is free.
One long Bloomberg advert.
Mr. Charts
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simonbrew,
Welcome to the rigours of posting on t2w where to some, gratuitously insulting others turns them on.
I for one would be very interested in anything you choose or are able to say about the programme.
Although I too was not impressed with your performance, equally you would not be impressed by my efforts in a field in which you might excel.
Nevertheless, credit to you for trying, knowing you might be setting yourself up for ridicule.
That takes guts. Well done.
Richard
Welcome to the rigours of posting on t2w where to some, gratuitously insulting others turns them on.
I for one would be very interested in anything you choose or are able to say about the programme.
Although I too was not impressed with your performance, equally you would not be impressed by my efforts in a field in which you might excel.
Nevertheless, credit to you for trying, knowing you might be setting yourself up for ridicule.
That takes guts. Well done.
Richard
N Rothschild
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this is the most polite and civilized board i have ever been on lol..
Jaydee
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Simon, you mention here 'skill set'. I'm curious as to what you felt the differences between yourself and the traders who experienced some success were? Did you feel that, whatever the traits are, you would be able to gain these given enough time and less pressure from Lex and Anton?
Essentially, I'm asking because this is the typical question of nurture or nature which has been debated in trading circles for years (on T2W on numerous occasions too). As you went through a very unique experience, I thought you may have a strong opinion regarding this.
Cheers
JD
Yes!!
As you found me irritating, you'll be relieved to hear that, for obvious reasons, I hardly appear in episode 3, but I wonder I what I would make of you?!
As to your substantive questions:
What did you base your trades on after the two week training?
No specific rules, we each did our own thing, initially within FTSE 100, later anywhere. Some traded on news, some on TA, some on FA, some on whim. Only high level rules were fund size, % in any one trade, % long vs short.
Did they give you any entry / exit criteria?
Various systems were discussed during the training, but none was imposed
Was there any system you or the others used?
Nothing specific initially, though the better traders developed their own over time. We were all exhorted to build a balanced portfolio (long v short, sectors etc), with an overall bias in the direction in which we thought the market was heading.
Thanks for your warm welcome - much appreciated, in the face of the onslaught elsewhere!
I have a million thoughts on the programme, but I'll wear my fingers to the bone if I type even 1% of what I think, so perhaps meeting at the next social is the way forward, assuming you're near London? If you have any specific queries, I'll be happy to respond to a PM or via Skype.
I'm the first to agree that my performance was dire, thought it MIGHT have improved over time if I'd made better use of some supportive coaching, which I imagine is what happens on real trading floors. I have absolutely no criticism of the way the programme was set up. We knew the rules and did our best to make a profit within them.
Very interesting question..
One suggested approach (during training) which appealed to me was to consider that we needed 3 Ss:
1) Skills (understanding the mechanics, how to place trades, etc)
2) Strategy (for finding profitable trading ideas)
3) State of mind - utterly calm as in Douglas' book: trading in the zone.
Apart from my c**k-up on RSA buy vs sell, (which incidentally was repeated by several other traders), I was OK on skills.
.. But I didn't manage to develop a consistent strategy - I flitted about all over the place in a desperate attempt to find good ideas.
.. and by the end of episode 2, I decided that I couldn't handle the emotional swings brought about by big losses, even if they might (or might not) be temporary. I particularly admired the way Caroline steadily built up her portfolio so that by wk 5, a big swing in any one trade only had a small effect on her portfolio.
Over time and with less pressure, I might have done a bit better. I don't think I'm a natural trader, but I had a fantastic time trying, I made some really good friends along the way, and I still really want to succeed - perhaps by engaging with some of the more supportive members of this board????
