Traders: Millions by the minute. BBC i Player
Discussion
I'd like to know how the guy from the first show is getting on. The show ended with him receiving his few grands worth of computer screens and trading software and him installing it. He seemed to have gotten on quite well in the class room. Did admire the African guy who dropped it before the training was over. He knew he wasn't cut out for it and so didn't try string himself along.
Hoofy said:
A little sniffing about. 911 guy runs a trader training company. I'll let you mull over that.
Good spot! Given the rewards available, and the scalability, not many (any) successful traders would bother with teaching others to do it. You can be pretty confident that the people that teach this stuff are just failed traders who need some income.It was a really interesting programme though - not so much about the trading, as the ability of otherwise rational people to delude themselves for years. Presumably Rene (former antiques dealer) had another form of income - how else has he survived for the last seven years?
As others have said, trading paper accounts is not trading. You have to feel the pain of a losing trade and for that it has to be real money.
335d said:
Good spot! Given the rewards available, and the scalability, not many (any) successful traders would bother with teaching others to do it. You can be pretty confident that the people that teach this stuff are just failed traders who need some income.
It was a really interesting programme though - not so much about the trading, as the ability of otherwise rational people to delude themselves for years. Presumably Rene (former antiques dealer) had another form of income - how else has he survived for the last seven years?
As others have said, trading paper accounts is not trading. You have to feel the pain of a losing trade and for that it has to be real money.
Compo from the motorbike crash was my betIt was a really interesting programme though - not so much about the trading, as the ability of otherwise rational people to delude themselves for years. Presumably Rene (former antiques dealer) had another form of income - how else has he survived for the last seven years?
As others have said, trading paper accounts is not trading. You have to feel the pain of a losing trade and for that it has to be real money.
I did wonder about thatHoofy said:
The Birmingham boys - didn't he say he was a millionaire at the start of the programme? I burst out laughing when I discovered he was living with his mum and dad.
To be fair he said he now manages more than a million pounds. Even if true, he would be likely to only get a tiny income from that, hence trading from the bedroom of his parents' house...911 guy a trading training company huh that changes things. Did wonder about trading the 50 million fund he was given, if he had the liquid assets he wouldn't need to faff about trading someone else money for a few % gain.
Why is it so few traders are actually honest about their gains.
Why is it so few traders are actually honest about their gains.
911 bloke would have been far more authentic if they'd played Su-su-sudio as a backing track in his newbuild!
http://www.youtube.com/watch?v=YW4ohI2LpGs
http://www.youtube.com/watch?v=YW4ohI2LpGs
335d said:
Hoofy said:
The Birmingham boys - didn't he say he was a millionaire at the start of the programme? I burst out laughing when I discovered he was living with his mum and dad.
To be fair he said he now manages more than a million pounds. Even if true, he would be likely to only get a tiny income from that, hence trading from the bedroom of his parents' house...Ok, yep. Traded for over 4 years, now manages more than a million pounds. How much would he take? He seems to be boasting reward to risk ratios of what looks like 4 to 1 and he's doing a lot of intraday. Am guessing he'll risk the textbook 1% per trade which makes that £10k. If we generously assume he gets 50% of trades right and he averages 2 to 1 R/R he'll make a guestimated £5k a day if he takes just one trade a day. So that's £1,250,000 profit? 10% commission? £125,000 a year salary. Could easily get his own flat in the Midlands if he's been trading for 4 years. I admit my figures are just pie in the sky so maybe he's busting his arse all day and night in front of the screens for £5 a day commission.
The Birmingham two were likable enough guys but I did get a whiff of BS from them.
I find it difficult to believe others would actually invest in their 'fund'.
And their main form of advertising seems to be instagram:
http://instagram.com/trader187
The antiques guy was just living in a world of his own - he probably has a reasonable income coming in after his life changing injuries and now pretends to be a trader to prove something to himself and others.
The 911 chap was a perfectionist wasn't he - his home, his health and gym routine and his trading. Do multi billion pound funds really just hand out tens of millions to random traders or were we only getting half the story there?
As for the nurse - I think she'll probably lose all of her 6k and go back to her usual life.
I find it difficult to believe others would actually invest in their 'fund'.
And their main form of advertising seems to be instagram:
http://instagram.com/trader187
The antiques guy was just living in a world of his own - he probably has a reasonable income coming in after his life changing injuries and now pretends to be a trader to prove something to himself and others.
The 911 chap was a perfectionist wasn't he - his home, his health and gym routine and his trading. Do multi billion pound funds really just hand out tens of millions to random traders or were we only getting half the story there?
As for the nurse - I think she'll probably lose all of her 6k and go back to her usual life.
k thatokgo said:
That's the correct answer!Interesting programme, but more than a bit whiffy in places.
1) I wouldn't trust the two wide boys as far as I could throw them.
2)"They've come to see Leon Best, a premiership footballer who plays for Blackburn Rovers".
Unless this show was made over two years ago, he isn't a Prem footballer- Blackburn were relegated in May 2012, and he signed for them soon after relegation (and has been with them/out on loan to other Champ sides ever since). May seem like details, but smacks of dishonesty.
3) Mr Powerfully-Built struck me as having some sort of narcissistic disorder. The home interior was bizarre, as was he.
4) The nurse thinks it's possible to "trade" with 3 kids jumping all over the place. Yup, that'll work.
So about 75% BS, probably.
1) I wouldn't trust the two wide boys as far as I could throw them.
2)"They've come to see Leon Best, a premiership footballer who plays for Blackburn Rovers".
Unless this show was made over two years ago, he isn't a Prem footballer- Blackburn were relegated in May 2012, and he signed for them soon after relegation (and has been with them/out on loan to other Champ sides ever since). May seem like details, but smacks of dishonesty.
3) Mr Powerfully-Built struck me as having some sort of narcissistic disorder. The home interior was bizarre, as was he.
4) The nurse thinks it's possible to "trade" with 3 kids jumping all over the place. Yup, that'll work.
So about 75% BS, probably.
Luftgekuhlt said:
4) The nurse thinks it's possible to "trade" with 3 kids jumping all over the place. Yup, that'll work.
In fairness to her, she did complain about how pro traders didn't have to deal with that. You're right, though - you can't have distractions when making a trading decision.Interesting stuff. Good luck to them if they can keep it up, but the JusCo guys did seem to have been seduced by portraying an image rather that having any long term plan. Very nice when it comes off, but I dread to think what risks they're taking. Also, if you were making what they claimed, why would you still be living in your Mum's attic? Not sure I'd entrust any of my hard earned with them.
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