Million Dollar Traders
- Thread starter xelite777
- Start date
This is absolutely hilarious: The guy who gives the million dollars to these hapless amateurs (2 weeks of "training", whatever that means) says on the video that it would be "catastrophic" if he lost the money...actually catastrophic if he lost half of the money...actually he can't afford to lose any of it.....?....
Interesting series. Unless I missed it, I don't think there was enough emphasis on cutting losses during the training. People just letting their shorts climb to the sky was baffling. Surprising that the fight promoter was the most outraged over the letting go of the losing lady. I think there was some outside relationship going on there that we didn't get to see. Anyway not a waste of time.
Short interest at historic lows in stock market. Shorts have given up and many are bankrupt. MMs wait for losers to short a stock and then rally it to the sky. Before Intel skyrocketed they had articles about how crappy the company was to attract short interest. Then they took their money.
Good points. I was just surprised more stop discipline wasn't drilled into the trainees, especially considering how worried LVD was over a net-loss when the test finished. Makes me think they were set up to fail to increase the series drama.
The Big Board
. . . It was about an Earthling man and woman who were kidnapped by extra-terrestrials. They were put on display in a zoo on a planet called Zircon-212.
These fictitious people in the zoo had a big board supposedly showing stock market quotations and comodity prices along one wall of their habitat, and a news ticker, and a telephone that was supposedly connected to a brokerage on Earth. The creatures on Zircon-212 told their captives that they had invested a million dollars for them back on Earth, and that it was up to the captives to manage it so that they would be fabulously wealthy when they were returned to Earth.
The telephone and the big board and the ticker were all fakes, of course. They were simply stimulants to make the Earthlings perform vividly for the crowds at the zoo--to make them jump up and down and cheer, or gloat, or sulk, or tear their hair, to be scared shitless or to feel as contented as babies in their mothers' arms.
The Earthlings did very well on paper. That was part of the rigging, of course. And religion got mixed up in it, too. The news ticker reminded them that the President of the United States had declared National Prayer Week, and that everybody should pray. The Earthlings had had a bad week on the market before that. They had lost a small fortune in olive oil futures. So they gave praying a whirl.
It worked. Olive oil went up.
http://www.readvonnegut.com/2010/07/kilgore-trout-slaughterhouse-five.html
. . . It was about an Earthling man and woman who were kidnapped by extra-terrestrials. They were put on display in a zoo on a planet called Zircon-212.
These fictitious people in the zoo had a big board supposedly showing stock market quotations and comodity prices along one wall of their habitat, and a news ticker, and a telephone that was supposedly connected to a brokerage on Earth. The creatures on Zircon-212 told their captives that they had invested a million dollars for them back on Earth, and that it was up to the captives to manage it so that they would be fabulously wealthy when they were returned to Earth.
The telephone and the big board and the ticker were all fakes, of course. They were simply stimulants to make the Earthlings perform vividly for the crowds at the zoo--to make them jump up and down and cheer, or gloat, or sulk, or tear their hair, to be scared shitless or to feel as contented as babies in their mothers' arms.
The Earthlings did very well on paper. That was part of the rigging, of course. And religion got mixed up in it, too. The news ticker reminded them that the President of the United States had declared National Prayer Week, and that everybody should pray. The Earthlings had had a bad week on the market before that. They had lost a small fortune in olive oil futures. So they gave praying a whirl.
It worked. Olive oil went up.
http://www.readvonnegut.com/2010/07/kilgore-trout-slaughterhouse-five.html
I watched the series a long time ago. Pretty interesting. Love these trading based shows. Still hoping they release Wall Street Warriors Season 3 that got its plug pulled after the financial crisis, but I think everything was taped already, so hoping the producers at least sell the unedited filming.
As for this particular show, what sucks is they basically have a bloomberg terminal. I know its the way its done in the past but I'd hate to do trades through a phone to the broker. What an annoyance. Thank goodness for technology today where you click on a computer screen yourself. So much more efficient. And they are so limited in what they can do. They are forced to basically do long/short trades only. This is extremely limiting.
So, bloomberg terminal, a phone line to a broker, and long/short day trades only? No thanks.
As for this particular show, what sucks is they basically have a bloomberg terminal. I know its the way its done in the past but I'd hate to do trades through a phone to the broker. What an annoyance. Thank goodness for technology today where you click on a computer screen yourself. So much more efficient. And they are so limited in what they can do. They are forced to basically do long/short trades only. This is extremely limiting.
So, bloomberg terminal, a phone line to a broker, and long/short day trades only? No thanks.
They were also restricted to stock trading only. No futures or forex pairs or even ETFs. The old man got blatantly manipulated out of his short by the stock's MM, and no explanation from Anton Kreil to the poor old guy on what had been done to him, just "do better". Hey, Anton, gfy.