TV Show: Million Dollar Traders

[Darkhand]

Emile sounds like you had quite the experience. It's awesome to hear that you guys (or atleast some of you) actually used your heads. I thought it was weird that they would go through the process of selecting bright people then not even show their thought process of selecting trades.
I really enjoyed the part when Russia had just invaded Georgia and everyone was working together figuring out what to do, printing out reports. That was exciting to me.

PS, you can hear the trades going off when they speak to the broker and pretty much right after they say, "I'm looking at XYZ... buy 300 shares" you will hear a quick zap and the broke will say "bought at blahblah."

 

[Badoit]

One of the best bits about the show for me is recalling those very situations... I can remember Irans missile test, Citi's results, Georgia etc and being at my desk and trading off the back of it...

... almost a shame it wasn't a little later, when we had Lehman, Porshce and VW, etc... that would have been interesting to watch - I'm sure even seasoned traders were "caught in the headlights" during some of those events.


Err... one last thing - Emile, did you have a thing for Cleo?

 

[ForexPro]

So do you think you could make a living out of trading with your own money?

How long was the training for?

 

[BallBag]

Quote from emile:

I would make the trade the broker would confirm, I would hear a zap almost from his computer

There's no way they could have simulated the unmistakeable zap of a trade hitting the market, I take back everything I've said.

 

[Badoit]

Come on guys... to be honest setting the whole thing up would take far more effort than making it real.

Emile you said you have thought about trading again, is it some thing that interests you, just for shits and giggles?

Which part of trading did you find the best? And the Worst?

 

[Pekelo]

Quote from emile:

i thought you would all think i was mad whilst talking about a zap.

You silly muffin, he was being sarcastic...

Now I don't doubt it was real, after all it wasn't that much money, but again the production lacked seriously in some ways.

 

[MiniDowTrader]

emile have you ever heard of the "Turtles"?
http://originalturtles.tradingblox.com/story.htm

 

[Jaytrade]

Sorry, but the show SUCKED!

They didn't go over any technical analysis it seemed like. It was all about, "watch the news guys, omg, read the paper, omg WALL STREET JOURNAL."

If that Lex (Van Damned ) guy actually hired and trained people who had some minimal experience in risk taking and trading, he would probably be UP immensely by now...Ok, so the goal was to train everyday joes and janes...well then the task is even harder. Especially because some of these people are just LAME...PETRIFIED to pull the trigger!

I mean, trading SHOULD look like this:

-NO news for starters (this just adds BIAS).

-ROBOTIC execution of orders based off of strict trading system (an indicator other than news)

-IT should be BORING...Wake up, coffee, roll into office execute trades off system, wash rinse repeat...

Most of the candidates put more thought into what they wore instead of how they trade. Please. Go to the corner and find a Pizza boy in jeans, I BET he could blow these lads away...

enough of my ranting. I have my bets on the Fight-Promoter dude!

 

[Badoit]

Quote from Jaytrade:

Sorry, but the show SUCKED!

They didn't go over any technical analysis it seemed like. It was all about, "watch the news guys, omg, read the paper, omg WALL STREET JOURNAL."

If that Lex (Van Damned ) guy actually hired and trained people who had some minimal experience in risk taking and trading, he would probably be UP immensely by now...Ok, so the goal was to train everyday joes and janes...well then the task is even harder. Especially because some of these people are just LAME...PETRIFIED to pull the trigger!

I mean, trading SHOULD look like this:

-NO news for starters (this just adds BIAS).

-ROBOTIC execution of orders based off of strict trading system (an indicator other than news)

-IT should be BORING...Wake up, coffee, roll into office execute trades off system, wash rinse repeat...

Most of the candidates put more thought into what they wore instead of how they trade. Please. Go to the corner and find a Pizza boy in jeans, I BET he could blow these lads away...

enough of my ranting. I have my bets on the Fight-Promoter dude!

Gotta say I think you're off the ball here (whether you think the show sucked or not is up to you, of course)

But - you know, institutional investing isn't anything like retail trading. For starters, you are not going to see an IB's equities desk using a RSI + MACD crossover system on 5 min charts - the only reason they will be looking at indicators is to manipulate them as to bring in some supply or demand (aka "painting the chart").

I find it absolutely astonishing that traders have an issue with the way they were approaching their trades!!! If anything, they were taking a more professional approach than "sell it when the lines cross". For example, the Adidas trade... by all accounts that sounds like a good trade to me: Look at the fundamentals, consider the environment the firm finds itself in, make a judgement and act accordingly. Sure, take a look at the chart to make sure you aren't buying into resistance, but it sounds like a good trade IMO

Similarly, the pairs trade that the Army guy put on - albeit he got it totally wrong, but in my book that was a good trading opportunity that went wrong - doing the numbers of the rights issue, then taking a long-short on the issuer and underwriter. That is much more like professional trading (although, it has to be said, anyone who thought than a financial was going to raise any capital in that environment is clearly round the bend). Anyhow - I consider these both to be good trades, and not a moving average in sight.

Sure, TA is useful, and in the right hands can be a very sharp device to add to your trading - but it is not, for Gods sake, all there is to it.

 

[nukethewhales31]

Quote from Badoit:

Gotta say I think you're off the ball here (whether you think the show sucked or not is up to you, of course)

But - you know, institutional investing isn't anything like retail trading. For starters, you are not going to see an IB's equities desk using a RSI + MACD crossover system on 5 min charts - the only reason they will be looking at indicators is to manipulate them as to bring in some supply or demand (aka "painting the chart").

I find it absolutely astonishing that traders have an issue with the way they were approaching their trades!!! If anything, they were taking a more professional approach than "sell it when the lines cross". For example, the Adidas trade... by all accounts that sounds like a good trade to me: Look at the fundamentals, consider the environment the firm finds itself in, make a judgement and act accordingly. Sure, take a look at the chart to make sure you aren't buying into resistance, but it sounds like a good trade IMO

Similarly, the pairs trade that the Army guy put on - albeit he got it totally wrong, but in my book that was a good trading opportunity that went wrong - doing the numbers of the rights issue, then taking a long-short on the issuer and underwriter. That is much more like professional trading (although, it has to be said, anyone who thought than a financial was going to raise any capital in that environment is clearly round the bend). Anyhow - I consider these both to be good trades, and not a moving average in sight.

Sure, TA is useful, and in the right hands can be a very sharp device to add to your trading - but it is not, for Gods sake, all there is to it.

so whens the next one coming out i kinda like these..