Traders: Millions by the minute. BBC i Player
Discussion
I forgot about the old guys. When the programme mentioned they spotted an opportunity with Asos. I thought it was something actually interesting. Not putting down £6k to make £50! After stamp duty + fees there's barely enough profit for each club member to buy a coffee. Maybe that isn't how they usually 'trade' but the programme certainly made them look silly.
g4ry13 said:
I forgot about the old guys. When the programme mentioned they spotted an opportunity with Asos. I thought it was something actually interesting. Not putting down £6k to make £50! After stamp duty + fees there's barely enough profit for each club member to buy a coffee. Maybe that isn't how they usually 'trade' but the programme certainly made them look silly.
It seemed to be more of a hobby & social glue for them.g4ry13 said:
I forgot about the old guys. When the programme mentioned they spotted an opportunity with Asos. I thought it was something actually interesting. Not putting down £6k to make £50! After stamp duty + fees there's barely enough profit for each club member to buy a coffee. Maybe that isn't how they usually 'trade' but the programme certainly made them look silly.
I felt bad for them.When they are putting an ASOS trade on around £40 you know it isn't going to end well.
They probably felt like they "really knew how to trade ASOS" all the while riding the simply exponential momentum behind it over the last 5 years.... until it reversed.
I registered here to partake in this discussion, and to provide some truth behind the programme, as I do trade for a living, and can see whats what. Most on this thread seem quite knowledgeable, so most can read between the lines.
IMO - none were making money, as most were interested in selling something.
Porsche guy - too much time in the gym, to be focused on trading. You dont quit after 1 grand a day, you hammer your advantage home
Farm woman - no chance to focus with 3 kids about. Typical fodder bucketshops like cmc markets love
Antiques guy - Needs to face reality, that after 7 years wont make it. Either find a mentor or quit.
Brum guys - Wouldnt give them a penny. 3-1 ratio etc, but might only win 5%.
There was a guy at saxo who said they love the customers who are trading all the time, and making regular profits, as they make the money from the spread. IMO, they love deluded customers with deep pockets. They dont want winners. If you win regularly, you will encounter such poor technical services, you will quit, which they want.
In the other episode, the "applied trading" training group, imo were failed traders. If they are trading NFP with finger on a mouse is a joke, as no broker will fill you immediately at a decent price.
If you want to make serious money trading, learn price action trading. Thats all there is. No indicators, no systems, no gimmicks, just price action.
Ask me anything you want on this subject, i'll be happy to answer.
IMO - none were making money, as most were interested in selling something.
Porsche guy - too much time in the gym, to be focused on trading. You dont quit after 1 grand a day, you hammer your advantage home
Farm woman - no chance to focus with 3 kids about. Typical fodder bucketshops like cmc markets love
Antiques guy - Needs to face reality, that after 7 years wont make it. Either find a mentor or quit.
Brum guys - Wouldnt give them a penny. 3-1 ratio etc, but might only win 5%.
There was a guy at saxo who said they love the customers who are trading all the time, and making regular profits, as they make the money from the spread. IMO, they love deluded customers with deep pockets. They dont want winners. If you win regularly, you will encounter such poor technical services, you will quit, which they want.
In the other episode, the "applied trading" training group, imo were failed traders. If they are trading NFP with finger on a mouse is a joke, as no broker will fill you immediately at a decent price.
If you want to make serious money trading, learn price action trading. Thats all there is. No indicators, no systems, no gimmicks, just price action.
Ask me anything you want on this subject, i'll be happy to answer.
g4ry13 said:
I forgot about the old guys. When the programme mentioned they spotted an opportunity with Asos. I thought it was something actually interesting. Not putting down £6k to make £50! After stamp duty + fees there's barely enough profit for each club member to buy a coffee. Maybe that isn't how they usually 'trade' but the programme certainly made them look silly.
I was amused by the comments from the former Boots CFO, along the line of - bankers are charming, affable and useless. That seemed to be quite a good description of the members of his group.TraderGuy said:
I registered here to partake in this discussion, and to provide some truth behind the programme, as I do trade for a living, and can see whats what. Most on this thread seem quite knowledgeable, so most can read between the lines.
What do you trade, and over what time frames?TraderGuy said:
I registered here to partake in this discussion, and to provide some truth behind the programme, as I do trade for a living, and can see whatswhat. Most on this thread seem quite knowledgeable, so most can read between the lines.
..................
If you want to make serious money trading, learn price action trading. Thats all there is. No indicators, no systems, no gimmicks, just price action.
Ask me anything you want on this subject, i'll be happy to answer.
How much is your course? Or is it a simple, easy to understand e-book at £999- available at this price for two weeks only (RRP £5000)?..................
If you want to make serious money trading, learn price action trading. Thats all there is. No indicators, no systems, no gimmicks, just price action.
Ask me anything you want on this subject, i'll be happy to answer.
TraderGuy said:
I registered here to partake in this discussion, and to provide some truth behind the programme, as I do trade for a living, and can see whats what. Most on this thread seem quite knowledgeable, so most can read between the lines.
Welcome to the forum TraderGuy. Are you an individual trader, as I imagine, given your focus on price action, or do you work for a bank / trading house?I am also a (former) trader, from a US investment bank, although I retired more than a decade ago, so I may be a little out of date. My trading was in relative value of derivative products - essentially looking for arbitrage opportunities between different products. I rarely ran large outright directional trades as I found the risk/reward was far better with arbitrage.
Not selling anything, just want to help others.
Price action trading is reading charts, and then looking at candlesticks for continuation/reversal tells.
I trade forex, mostly eur/usd gbp/usd. I use tick charts, but will look to 5min chart for direction. So essentially scalping.
I didnt work in a bank, but am self-taught. I think its important to trade the right instrument/timeframe for your personality. I never liked long-term stuff, as i never wanted to wait weeks just to find out i was wrong. Lol.
Price action trading is reading charts, and then looking at candlesticks for continuation/reversal tells.
I trade forex, mostly eur/usd gbp/usd. I use tick charts, but will look to 5min chart for direction. So essentially scalping.
I didnt work in a bank, but am self-taught. I think its important to trade the right instrument/timeframe for your personality. I never liked long-term stuff, as i never wanted to wait weeks just to find out i was wrong. Lol.
TraderGuy said:
In the other episode, the "applied trading" training group, imo were failed traders. If they are trading NFP with finger on a mouse is a joke, as no broker will fill you immediately at a decent price.
Bit harsh on the failed traders bit no? Yes it moves damn quick once the numbers cross and you won't get the immediate fill but you could still catch part of the larger move, putting aside the fact that your likely to get whipped about and its a risky trade. TraderGuy said:
If you want to make serious money trading, learn price action trading. Thats all there is. No indicators, no systems, no gimmicks, just price action.
Agree with you that price action is key but no indicators? Do you not track volume, moving averages etc? I suspect I'm misunderstanding what you mean by no systems, are you talking algos?
TraderGuy said:
g4ry13 said:
Which broker do you use / fees are you paying? They obviously are a factor to take into account as a retailer - especially if you are scalping.
I use ic markets and pepperstone. Basically you want eu/usd spread+commission under 1 pip.I used to get 0.9, but then they opened it up. I could probably get lower on IB but then that comes at a cost. So you read the Heikin Ashi book? I better stop this talk or i'll get the itch again
Gassing Station | Finance | Top of Page | What's New | My Stuff