TV show about trading

[km24519847]

My criticism is of the traders portrayal by the producer. However the producer must either have been a trader themselves or have been briefed by one to spot the consistency of mistakes. Everyone makes mistakes this is undeniable, but for Lex van luther to come out with a statement about treatment of brokers is way off the mark.
Good luck with all your trading.

The man who trades like a brokers bitch.

 

[simonbrew]

I think the contrary. If they were all boring and did well, that'd not make for good TV.

The fact is, it was a successful programme. It wasn't a programme about how to trade. It was about whether normal people could become traders or not. Seems to shown this. Nowhere did the advert say, "Learn how to trade."

Remember that, at the start of filming, noone knew how the programme would end. It could have turned into
a) a "learn about trading" programme which would have minority viewing appeal or
b) an illustration of the real drama and emotions which some rookie traders go through, and which many do not survive.

As it turns out, it was edited into format (b) which surely attracted a much wider generalist audience - and strangers are still accosting me in the street to express sympathy with my struggle!

 

[arabianights]

So Simon are you still planning on trading?

 

[simonbrew]

Sorry if I am repeating much of the past 50 pages, but I wrote this so I may as well post it!

6. most importantly, they were trading someone else’s money. The psychological challenges would have been even more evident if they had been winning and losing increasing amounts of their own money.

All good fun.

Michael

I agree with your points 1-5, but not on point 6: It made absolutely NO difference to me whether it was my money or not - I REALLY wanted to succeed and was VERY disappointed that I failed. Given a bit more time, more personal analysis, and coaching as to where I was going wrong, I might have done better.
However, we didn't have the time, I'm not good at personal analysis (& probably too emotional), and the rule was (as you saw in episode 1) that Anton was not allowed to coach, so perhaps my poor result was inevitable. I WAS very sorry I lost Lex's money, and I said so to him at the time.

 

[bbmac]

I agree with your points 1-5, but not on point 6: It made absolutely NO difference to me whether it was my money or not - I REALLY wanted to succeed and was VERY disappointed that I failed. Given a bit more time, more personal analysis, and coaching as to where I was going wrong, I might have done better.
However, we didn't have the time, I'm not good at personal analysis (& probably too emotional), and the rule was (as you saw in episode 1) that Anton was not allowed to coach, so perhaps my poor result was inevitable. I WAS very sorry I lost Lex's money, and I said so to him at the time.

Hello Simon,

Well done for giving it a go. Did you or any of the others use any tech analysis to time trade entry once you'd decided on a stock to trade based on your own fundamental analysis? Perhaps a harder question, why do you think the others walked when Chloe got fired?

Thank you.

 

[Tenapenny]

Simon, stick at it. Get a demo account and learn to trade at your own pace. Try to work out a strategy and time frame to suit you. I personally would not start off with shares, far too much time involved hunting for the right one then there's a lot of fundamental and technical analysis. Try for example, indices and concentrate on a couple to develop your trading ability. There are many on this forum I am sure, who would help you on your way. Best of luck.

 

[km24519847]

I agree with your points 1-5, but not on point 6: It made absolutely NO difference to me whether it was my money or not - I REALLY wanted to succeed and was VERY disappointed that I failed. Given a bit more time, more personal analysis, and coaching as to where I was going wrong, I might have done better.
However, we didn't have the time, I'm not good at personal analysis (& probably too emotional), and the rule was (as you saw in episode 1) that Anton was not allowed to coach, so perhaps my poor result was inevitable. I WAS very sorry I lost Lex's money, and I said so to him at the time.

This was my first observation of incredulity. What sort of muppet outfit employs a coach then tells him not to help those who need coaching? One theory might be that he was setting you up to lose then hedging against it to take the other side of your trade.
:whistling

 

[MrGecko]

Simon - just a quick note - if you are gonna have another bash at trading again (I don't think one can attibute too much significance to your performance in the show... although it clearly demonstrated there are things you have to work on!), might I suggest you have a go at trading EOD?

It should give you much more time to ponder your decisions and avoid getting caught in the headlights, with plenty of things to tinker with in the meantime.

GL

 

[simonbrew]

This was my first observation of incredulity. What sort of muppet outfit employs a coach then tells him not to help those who need coaching? One theory might be that he was setting you up to lose then hedging against it to take the other side of your trade.
:whistling

You can't blame Anton for not coaching - those were the rules for this programme.

 

[km24519847]

You can't blame Anton for not coaching - those were the rules for this programme.

I'm not blaming Anton, I'm blaming the muppets who made the rule to stop him coaching.

 

[neil]

Don't give up Simon

Simon
look up TraderDantes threads: For example;
http://www.trade2win.com/boards/general-trading-chat/32991-potential-setups.html

and

james16 Chart Thread

The above is a huge thread but repays close study. It will take time and practice (demo trades) and patience. This thread warns newcomers to practice on longer time frames for some months. So, patience, study and determination will get you there BUT don't fall into the trap of paying for expensive so called systems which " cut out all that study"🙄
If in doubt come back here and the experienced guys will help you out.
Never be afraid to ask for help - we were all new to trading once upon a time🙂

 

[MrGecko]

I also think it's important to consider any ulterior motives that the backers of the show may have had - at the time, much was being made of City Bonuses in the press - "How unfair they earn this much", "All they do it sit at screens all day", "They don't contribute to society" etc...

While under the pretense of a social experiment, I cant help but feel the results were already known, and that the point was to demonsrtate that it is infact a very difficult thing to do that requires far more than is often let on.

 

[shadowninja]

Remember that, at the start of filming, noone knew how the programme would end. It could have turned into
a) a "learn about trading" programme which would have minority viewing appeal or
b) an illustration of the real drama and emotions which some rookie traders go through, and which many do not survive.

As it turns out, it was edited into format (b) which surely attracted a much wider generalist audience - and strangers are still accosting me in the street to express sympathy with my struggle!

That's my thinking exactly. I do hope nobody shouted, "Hello, **** for brains." That would have been awkward. :innocent:

 

[shadowninja]

"They don't contribute to society"

That includes 99% of jobs, though. Oh, yes, you, Mr Dustman contribute to society because you're paid to collect the bins. Right, that is "contributing" providing you are paid. Oh, yes Mr GP, you contribute to society because you're paid nearly £100k a year and have wrangled it with the government to work less hours than a year ago for 30% more. Yes, you are saintly. Great.

 

[oiltanker]

the fundamental based book style would not have suited me at all. i prefer batch trading. if the system says sell why on earth would you buy 'just in case'? either the system will deliver a profit or it doesn't. with batch trading if you have a loss then the probability should be you are closer to a win?

i would trade fundamental opinion if there was such a thing as a bllsht indicator. 😉 [a while back buffet began buying [so a lot of others did?] and has to sit through the move lower but buffet can probably afford it]. People were saying Barclays were cheap at 1.50 so buy [on my charts it was still in a downtrend] then it went to 50p.

even simon on today's cs daily market news says

>>We have seen continued attempts to sell into the rising market as the analysts fell over themselves trying to write off the Pound. Two things should always be remembered about comment (mine included)…first there is a good chance that if a Fund has made the comment then he is talking his ‘book’ and second if an Analyst is good he would be trading rather than commenting.<<

 

[MrGecko]

That includes 99% of jobs, though. Oh, yes, you, Mr Dustman contribute to society because you're paid to collect the bins. Right, that is "contributing" providing you are paid. Oh, yes Mr GP, you contribute to society because you're paid nearly £100k a year and have wrangled it with the government to work less hours than a year ago for 30% more. Yes, you are saintly. Great.

Not My position - merely regurgitating the Headlines of the Daily Mail

 

[shadowninja]

Not My position - merely regurgitating the Headlines of the Daily Mail

No, I didn't think it was. After all you wouldn't be here if you did think that. 😀

 

[traderboi29]

king

 

[traderboi29]

This was my first observation of incredulity. What sort of muppet outfit employs a coach then tells him not to help those who need coaching? One theory might be that he was setting you up to lose then hedging against it to take the other side of your trade.
:whistling

for your info, the coach -ANTON was an ex-trader with 7 years exp, first at Goldmans, then lehmans and finally JP Morgan. He wasn't a coach, more of a manager to oversee things in the office. The whole point of the show was to give them 2 weeks training then let them loose on the markets hence he wasn't allowed to "coach" them. And the muppet outfit your talking about "Lex van dam" is a top hedge fund manager who is an ex-goldmans MD and ex-GLG.........muppet outfit? don't think so!.....

 

[km24519847]

for your info, the coach -ANTON was an ex-trader with 7 years exp, first at Goldmans, then lehmans and finally JP Morgan. He wasn't a coach, more of a manager to oversee things in the office. The whole point of the show was to give them 2 weeks training then let them loose on the markets hence he wasn't allowed to "coach" them. And the muppet outfit your talking about "Lex van dam" is a top hedge fund manager who is an ex-goldmans MD and ex-GLG.........muppet outfit? don't think so!.....

This show had little to do with trading. I don't doubt Antons ability nor do I doubt the capability of Lex Van Dam. Why employ a coach and then restrict them to office management? It makes no business sense. Lex must have been getting a kickback from someone to cover his losses otherwise these are the actions of a muppet. TV shows are for entertainment, neither of these characters were remotely entertaining except for placing puke buckets next to the desks and "treat your broker like your bitch" comments. My wife wouldn't speak to me after that one. Banter is allowed on this site and I enjoy meetups with traders, please don't take things personally.
My broker is a bitch.
😆