TV Show: Million Dollar Traders

[c4ytan]

Saw this show on Youtube (thanks to whoever posted it) and I think the Wall Street Warriors definitely had better production quality but I guess MDT was more specialized..purely about trading.

I share the same sentiment that it's ridiculous how they can be expected to trade and make money right away. Unlike the Turtle Traders who were given a very specific set of rules to follow, this bunch were given varied methodologies and asked to go and find their way in the market.

 

[kiwi_trader]

Quote from emile:

it was an incredibly difficult task to do especially if you had never done it before. i think people on these forums underestimate what we all went through on it.

Good point. Especially given how few here have any valid training its little wonder that so few are here for more than a couple of years and still trading.

Badoit,

I think you meant "not mutually exclusive" which is an excellent point. We bring multiple roles to our worlds and multiple persona's - and which ones work where is an interesting study.

 

[Badoit]

Quote from kiwi_trader:


I think you meant "not mutually exclusive"

True true... thanks for pointing out my (deliberate) mistake

Emile: For the record, are you or are you not the Emile that appeared in the show?

(if so, I would be interested to hear about your experience.... but this is the internet, and, you know).

 

[1a2b3cppp]

Quote from emile:

I was the emile on the show

any chance of you posting a pic of yourself holding a sign that says "elite trader" so we have some proof it's actually you?

 

[gaj]

emile - how much technical analysis were you taught? because much of the program seems to show is buying from "fundamental" analysis, and for a daytrader, that's generally terrible.

 

[wee man]

Quote from emile:

We were taught and used an incredible amount of technical analysis. It looked like we just read the news and listened to the tv which is the opposite from what we did. We also used the services of analysis a lot especially for confirmation of findings from charts etc.

Why are you not using a direct access platform to execute your trades?

 

[wee man]

Quote from emile:

For two main reasons. The first being it was better for tv to have a more human interaction and the second being all calls were recorded by both parties and could be reviewed in case of query.

OK, I can understand the drama of calling the broker but all trades a recorded anyway with direct access - every trade .

How much are you being paid to appear on the show?

 

[Pekelo]

Quote from emile:

We were taught and used an incredible amount of technical analysis. It looked like we just read the news and listened to the tv which is the opposite from what we did. We also used the services of analysis a lot especially for confirmation of findings from charts etc.

Then I guess the show failed big time. They should have showed at least a small part of the education process and also how the trading decissions were made.

After 2 parts there was no indication that anything but the news or fundamentals were used. Also letting traders go without a trade for weeks was just plain silly. A nice touch would have been the supervisor also trading and showing how much he made in the same market enviroment.

Were you guys told that more than 80% of you not supposed to make it???

 

[college_trad3r]

it would have been very interesting to put these beginners against pro's, at least if the supervisor and van dam traded

but I doubt the pro's would have dared to do that, especially since a loss over 2 months doesn't mean a loss over a year for a pro, but it will seem like they would be really bad traders if the pro's lost money in that time period.

 

[BallBag]

Quote from emile:

it definitely was all for real.

No offence, but if the brokers you were calling were putting your trades into a demo a/c they are obviously not going to tell you.