TV show about trading

[trendie]

It definitely gives people the wrong idea that trading can be learned in 3 months. I'm sure a new flood of aspirees will be on here and in the market as a result, not such a bad thing if you're on the other side of their trades ;-).

thats very good point.
I am LONG Kelloggs.

 

[Hoggums]

It definitely gives people the wrong idea that trading can be learned in 3 months. I'm sure a new flood of aspirees will be on here and in the market as a result, not such a bad thing if you're on the other side of their trades ;-).

Actually - I would have thought this programme would have put people off - because it clearly shows how difficult it is to make money - I think they are more likely to think - if these people who were given "expert" training couldn't do it - then how could I?

 

[wheezergeezer]

Love or hate the trading program ?.....you must bear in mind that's its made for TV,
hence its Entertainment !!!!
I actually met Anton last week and had a chat, on this very subject, so there you have it guys..
finally does go around saying " its unbelieveable " ...........Yes, Sorry Anton!
ps, I have no assocations with anton, but if you want to check him out....
Anton Kreil - Million Dollar Traders

 

[wasp]

...hence its Entertainment !!!! ...

Been a long time since TV was that.

 

[shadowninja]

The programme and the idea is an insult to traders and paints an even worse portrait of this career which takes years and lots of hard work. Ludicrous.

Thought it suggested that it takes more than a 2 week course (so forget those 2 day Darren Winter courses) and that not just anyone can do it.

 

[JRP2891]

Actually - I would have thought this programme would have put people off - because it clearly shows how difficult it is to make money - I think they are more likely to think - if these people who were given "expert" training couldn't do it - then how could I?

Yeah i see what you mean. However so far the main focus has been on the losing candidates. When the environmentalist made money he conveyed a lack of understanding of why he had won, just saying it was easy and he didn't have to do much. It will be interesting to see if any of them are going to continue with it. Even 3 months of profitable trading is a nanosecond in terms of actually making it a career choice.

 

[Hotch]

I don't think it's too bad. Working in a hedge fund in the City is one hell of a difference then working in an arcade at home etc from what I've experienced. For example, Lloyds (probably not true now they have HBOS) has 1 TA guy (and he's an economist), true they were thought to be 20 years behind the times (until the crunch), but 1 guy. All their spot FX traders didn't use any charts, just the ticker.

I agree that I'd be interested in what training they got, or whether all they got was how to ring up a broker, but I think some of you are missing how different your trading is to what is the "norm" for "professionals" (note air quotes).

I thought Anton was pretty fair, he's in a hard position as it's not his money, but I can see it from Simon's point of view with stress building up etc.

 

[wheezergeezer]

Quote:
Originally Posted by wheezergeezer
...hence its Entertainment !!!! ...

Been a long time since TV was that

I agree " its unbelieveable "

 

[Mr. Charts]

Of the original group I really do not think there is anyone there who couldn't succeed with proper education and training provided they don't over-trade, have self-discipline, application, emotional control, and the ability to immediately execute decisions. Without those qualities it's too tough a business to succeed in.
I have no idea as to the training they received, but it looks pretty inadequate so far.
It's a shame people refer to Simon as "the old guy". I think they said he's 63 so he's only two years older than me, so I'm biased Age shouldn't be derided - and I thought that when I was 20
I know someone in his late 70s who trades successfully every day.
Of any group, especially those hand picked from 4000, there should be two or three who ought to make a profit !
It seems probable the mix was deliberately chosen, not to find real traders but to provide boo-ing and sneering fodder to entertain the masses who think it's all "gambling".
Richard

 

[Atilla]

Good to see Anton telling it like it is... Finally.

Amit needs to go like yesterday.

Emille is thin skinned for a big guy...

Interesting twist. Amazing stuff.

 

[N Rothschild]

well that done wonders for our profesion..my flat mates bird now believe that if those retards managed to outperform lex there must be no real skill to trading


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[Atilla]

well that done wonders for our profesion..my flat mates bird now believe that if those retards managed to outperform lex there must be no real skill to trading


.........

 

[Jaydee]

well that done wonders for our profesion..my flat mates bird now believe that if those retards managed to outperform lex there must be no real skill to trading.........

Ask her to try it...

 

[Skill Leverage]

They reckon they 'outperformed the City', but at no point during this exercise did they have anywhere close to the full million invested - if you take a 5% loss on a million dollars, but you were only ever trading 500k of that (I doubt they even had this much on the go) at any one time, then you're really looking at a 10% loss.

 

[Black Swan]

I thought about this programme a lot and if I was on it - would I be successful..

I think posters have to remember - these people weren't day trading or spread betting - they were buying selling shares on unleveraged funds which have a 1.5-2.5% round trip cost associated with them.

So your purchase needs to go up 2.5% before you've even made a penny. (Correct me if I'm wrong Simon) - were you subject to stamp duty costs also? Stops can be pretty irrelevant also because an overnight gap could easily smash through and way past your stop.

For the majority of you that trade indices/forex how well would you do if that was your trading criteria? For the ftse that would mean a 105 point buy-sell spread !!

I think the experiment was not long enough, 10 weeks is not enough to get a good return on a share. You buy shares not just for the price increase but for the dividend also and this is something that would not have been taken account of, that alone could have yielded an extra 5% in the account.

There was a lot of emphasis on cutting those losers - but if they are properly hedged there is in fact not necesarily need to do so - particularly if a dividend is due. If you buy a share that yields 8% and it drops 10% - it's still going to give you a return of 8% on your investment and with a suitable hedge that 10% loss is reduced.

Good points well made. Had no idea they were restricted to equities only, that explains the lack of activity which puzzled me. On that basis how the hell were they supposed to turn in a decent profit? Was this restriction done so the viewer would 'get it'?

 

[Joey25]

Maybe the initial group was too large.

Anton seemed to get more involved with the remaining 3 last night.

It seems a bit miserable that no-one was given an opportunity by the investor (unless they were and we weren't told).

 

[fifty2aces]

They reckon they 'outperformed the City', but at no point during this exercise did they have anywhere close to the full million invested - if you take a 5% loss on a million dollars, but you were only ever trading 500k of that (I doubt they even had this much on the go) at any one time, then you're really looking at a 10% loss.

Not only that, but it seemed that the "fund" performance was just the combined totals of the 3 guys left at the end, suggesting that the losses of the guys who left were ignored. Survivorship bias anyone? I'm incredible at rolling sixes, provided you let me throw 100 dice and then get rid of all the ones which don't land on 6...

Also there's the sample size issue - at one point this week they mentioned someone had made 20 trades - that's hardly statistically significant. But then again, I don't think we're the target audience.

 

[Jack o'Clubs]

Must confess I was glad to see you go as I found you irritating.

To be honest if Simon sat opposite me on a trading desk...

YouTube - Why you don't throw paperclips at coworkers

(an oldie but goodie).

Last night's denouement was interesting though - no surprise it was the losers who walked out when the posh girl was sacked. Van Dam said he'd seen it all on a trading floor, but I bet he'd never seen unionised traders before. Pathetic, especially as Emile managed to live up to about every stereotype of the heart-on-sleeve Scouser.

 

[oiltanker]

i liked what the kid said about there being 'a story' behind the price action. Anton said he made a mature decision in staying. For me, given the muppet walkout, that was what the show was about. maturity. those who have it and those who don't.

 

[bbmac]

Who doesn't recognise the emotions that were visible amongst the traders during the 3 parts? (I discussed the physiological and neurological responses of the body (in part) that can occur in the the trading environment on this thread, post #424 - http://www.trade2win.com/boards/for...prehensive-trading-system-methodology-53.html

Interesting, and further to my point in post #424 of the thread above, those that were feeling the most 'discomfort' quit at the first available opportunity that they could justify in their own minds as being a valid reason, thus admonishing themselves of any blame or failure.

Also very interesting that as far as we know, none are trading now, other than the shopkeeper who was the one (remaining after the IT guy Simon went) that was losing the most.