# Million Dollar Traders



## Pager (15 January 2009)

Posted this on the chartist as well

Very interesting about setting up a Hedge fund with novice traders, bloke doing it must have been inspired by the turtles.

From the BBC and in 6 parts, very interesting and much better than Wall Street Warriors.

http://au.youtube.com/watch?v=gVcMCrwc9UE


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## MRC & Co (15 January 2009)

*Re: Million Dollar Trader*

Thx Pager, will watch when I get time.

Should be interesting.  Watched most of the first season of Wall St Warriors, actually didn't mind it, the Russian guy looked pretty solid.


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## joeyjoejoe (15 January 2009)

*Re: Million Dollar Trader*

i watched it.. it was very entertaining.. it gave me itchy feet.. wanted to jump through my screen and have a go myself!! i dont think i agreed with any of their descions. except the short on BA.


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## jersey10 (16 January 2009)

*Re: Million Dollar Trader*

just finished watching it and enjoyed it.  I think Chloe is rubbish as a trader and i think Simon would **** me to the nth degree if i had to work with him in a trading firm.


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## Pager (16 January 2009)

*Re: Million Dollar Trader*

Only Aired for the first time in the UK this week, looks like a series of 1 hour episodes so hopefully the next episode will be on youtube this time next week.

I thought it was excellent and will be interesting to see if any of them make it, my money at present is on the ex Army guy, interesting they also took a good range of ages and occupations.


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## James Austin (16 January 2009)

*Re: Million Dollar Trader*

seems there are 3 episodes in total, 
next one is aired in UK on the 19th Jan, so hopefully it ends up on utube.


http://www.bbc.co.uk/programmes/b00gsr4p/upcoming


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## peter2 (16 January 2009)

*Re: Million Dollar Trader*

This should be watched by all wannabe trader's. It shows ordinary people with confidence, self belief and normal expectations being given a chance to trade the markets. It doesn't take long for most of them to lose their confidence and become stressed and lose the plot. 

Admittedly they were told how to swim and then thrown in the deep end. Although I have only seen episode 1 this can't end well for anybody. 

I would like to see the surviving traders taught a trading strategy combined with appropriate risk mgt (complete trading plan) and then given another chance to trade. I would expect to see a few of the traders realise what trading is about ("light bulb moment"). That would be interesting.


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## Pager (16 January 2009)

*Re: Million Dollar Trader*



peter2 said:


> This should be watched by all wannabe trader's. It shows ordinary people with confidence, self belief and normal expectations being given a chance to trade the markets. It doesn't take long for most of them to lose their confidence and become stressed and lose the plot.




Yeah the Old chap bought some shares on the first day, the next day he's happily sitting having breakfast while the market open's. 

The funniest bit was when he forgot that needed to sell some stock and ended up buying more then selling it again straight away and making an instant £200+ loss !

Scary thing is he want's to use money he has saved up for his retirement for him and his wife to be able to make more.


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## MRC & Co (16 January 2009)

*Re: Million Dollar Trader*



peter2 said:


> It shows ordinary people with confidence, self belief and normal expectations, doesn't take long for most of them to lose their confidence
> 
> Admittedly they were told how to swim and then thrown in the deep end. Although I have only seen episode 1 this can't end well for anybody.
> 
> I would like to see the surviving traders taught a trading strategy combined with appropriate risk mgt (complete trading plan) and then given another chance to trade. I would expect to see a few of the traders realise what trading is about ("light bulb moment"). That would be interesting.




Haven't seen this yet, but:

Completely disagree.

Point 1:  Natural:

Point 2:  That's how it's done in trading firms, which relates to point three:

Point 3:  They are trying to get these guys (haven't seen it yet, just guessing), to develop their own style, so giving them a detailed trading plan would be useless.  These guys have to learn how to think for themselves, once their trading plan stops working (AND IT WILL), what then?  They need to learn how to read the market themselves and adapt to the constant change it brings.  Without that, they will be a one shot wonder, wonder how many of the turtles did well trading once their plan stopped working?


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## Dezza (17 January 2009)

*Re: Million Dollar Trader*

It's a great show compared to all the other junk and repeats here on UK TV.

For those who missed it, you can watch it directly on the BBC website and find out more info on the program (1st episode is up and will expire on the 30th Jan) 

http://www.bbc.co.uk/programmes/b00gsr4p


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## MRC & Co (17 January 2009)

*Re: Million Dollar Trader*

Watched it Pager.  The old guy is funny as, ha ha ha.  He just has absolutely no idea.  Buying a finance company in a financial meltdown, just because someone else did and made some coin off it.  ha ha ha. 

I'm surprised it's all based on fundamentals, wonder if any will try and combine any technicals to their trading........

If the chick can gain control of her emotions, she may be ok.  Military guy has some idea too.  Will be interesting to watch them develop their styles.  Though only another 45 days or so?  That isn't really enough time to proove anything........


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## DB008 (17 January 2009)

*Re: Million Dollar Trader*

Good show. are they limited to just shares, or can they also do options etc etc? i skipped a little bit to get into the trading part. To impatient sometimes.


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## tcoates (21 January 2009)

*Re: Million Dollar Trader*

*Million Dollar Traders - Profit and Loss Episode 2 1of 6 BBC2*

http://au.youtube.com/watch?v=NkpqWeWr_Vs


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## MS+Tradesim (21 January 2009)

*Re: Million Dollar Trader*

Just started watching this. Only at the end of the 2nd part, Ep.1.

Fascinating to see how the people are thinking.

I wonder about some things....like why are they ringing a broker instead of using electronic STP? Why does the main dude think that if you're sleeping well at night, something is wrong?  

But will be interesting to see how it unfolds. Thanks for posting it Pager.


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*



MS+Tradesim said:


> Just started watching this. Only at the end of the 2nd part, Ep.1.
> 
> Fascinating to see how the people are thinking.
> 
> ...




i'm watching it too. i also wondered why they are on the phone for their orders and not trading online.

I still think Simon is a nightmare.  I would be very surprised if he doesn't lose all his money first.

Thanks for posting Pager.


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## prawn_86 (21 January 2009)

*Re: Million Dollar Trader*



MS+Tradesim said:


> Why does the main dude think that if you're sleeping well at night, something is wrong?




Not watching the series, but to me it sounds like the whole American psychology which has got us where we are right now. If you dont take big risks you cant make big cash therefore the bigger the risk the more 'ballsy' you are, especially if it pays off. The yanks on wall st dont seem to realise that accumulation and slow growth can/should be a viable option


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## Largesse (21 January 2009)

*Re: Million Dollar Trader*



prawn_86 said:


> Not watching the series, but to me it sounds like the whole American psychology which has got us where we are right now. If you dont take big risks you cant make big cash therefore the bigger the risk the more 'ballsy' you are, especially if it pays off. The yanks on wall st dont seem to realise that accumulation and slow growth can/should be a viable option




the guy that said the quote is british


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*

can't find part 6 of 6 of episode two.  Anyone else found it?

Have finished watching all of episode two up to end of part 5 of 6.  Still think Cleo and Simon are doomed.  Time will tell.


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## Chorlton (21 January 2009)

*Re: Million Dollar Trader*

Has anyone seen EP.2 yet?


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*



Chorlton said:


> Has anyone seen EP.2 yet?






thats what the last few posts have been about.  see link in post #13


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## Largesse (21 January 2009)

*Re: Million Dollar Trader*

can only find 1,2/6 of episode 2 on youtube


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## Chorlton (21 January 2009)

*Re: Million Dollar Trader*



jersey10 said:


> can't find part 6 of 6 of episode two.  Anyone else found it?
> 
> Have finished watching all of episode two up to end of part 5 of 6.  Still think Cleo and Simon are doomed.  Time will tell.




Could you post me a link to parts 1-5 of EP.2 as I can't seem find any of them....

Thanks in advance...


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## MS+Tradesim (21 January 2009)

*Re: Million Dollar Trader*



Chorlton said:


> Could you post me a link to parts 1-5 of EP.2 as I can't seem find any of them....
> 
> Thanks in advance...





http://au.youtube.com/user/MillionDollarTraders


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## James Austin (21 January 2009)

*Re: Million Dollar Trader*



Largesse said:


> can only find 1,2/6 of episode 2 on youtube




yes, 4 parts are missing and you cant watch it on the BBC site, only available to UK viewers. 

we'll have to email the poster and get him/her to put up the other 4 parts.

perhaps one of the UK ASFers can do it for us?!


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## tcoates (21 January 2009)

*Re: Million Dollar Trader*

For other parts of the eps... 

... in the youtube search field enter

million dollar trader - profit and loss

(it is the same as part 1 (maybe) just with the part number missing)

Tim


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## James Austin (21 January 2009)

*Re: Million Dollar Trader*



tcoates said:


> For other parts of the eps...
> 
> ... in the youtube search field enter
> 
> ...




thanks Tim
that might just do it.


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## Chorlton (21 January 2009)

*Re: Million Dollar Trader*



MS+Tradesim said:


> http://au.youtube.com/user/MillionDollarTraders




Thanks MS .....


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## Chorlton (21 January 2009)

*Re: Million Dollar Trader*



jersey10 said:


> i also wondered why they are on the phone for their orders and not trading online.
> 
> 
> Thanks for posting Pager.




Probably because it wouldn't be so entertaining for the viewing public..... Probably also explains why they are apparently trading news (or trying to predict the outcomes of news??!!?? ) rather than relying on indicators, S&R, Price action etc, even though apparently they were taught these concepts during training.......


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## James Austin (21 January 2009)

*Re: Million Dollar Trader*

anyone found part 6 of episode 2?


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*

So when is the Australian version coming out?
Surely there is an ex gun trader / hedge fund manager who has made their millions that visits this forum that could bank roll it and give us novices a crack.  Surely foxtel would take the show on.  I shotgun a starting spot on the team


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## white_goodman (21 January 2009)

*Re: Million Dollar Trader*



jersey10 said:


> So when is the Australian version coming out?
> Surely there is an ex gun trader / hedge fund manager who has made their millions that visits this forum that could bank roll it and give us novices a crack.  Surely foxtel would take the show on.  I shotgun a starting spot on the team




i got 2nd...

also my thoughts is that he hasnt actually given them $1,000,000 to trade.... i reckon the winner gets a prop position... my reasoning is that they are phoning all orders, they may jsut be put on as a demo...


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## BentRod (21 January 2009)

*Re: Million Dollar Trader*

Guys you can download the full eps in good quality, from Usenet or just search one of the Torrent sites.
Better than mucking about on Youtube.

Regarding the show, this ep was better. Amazing watching how hard it was for the Girl to pull the trigger and how upset she got.


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## MS+Tradesim (21 January 2009)

*Re: Million Dollar Trader*



white_goodman said:


> i got 2nd...
> 
> also my thoughts is that he hasnt actually given them $1,000,000 to trade.... i reckon the winner gets a prop position... my reasoning is that they are phoning all orders, they may jsut be put on as a demo...




White, I agree. I strongly suspect that no real money is involved but the trader trainees think it's real and are experiencing the attached emotions. Could be wrong, but it strikes me as unreal to let loose fresh meat in the middle of the second (so far) biggest meltdown in the last 100 years. 

Ps. The younger girl could do well if she gets over her fear. The ex-army guy should do ok so long as he doesn't fall in love with military stocks. The old guy is crashing and burning - I don't judge him for that. The older lady, well, can someone give me an amen to Linda Bradford Raschke Mark II?


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## Wysiwyg (21 January 2009)

*Re: Million Dollar Trader*



BentRod said:


> Guys you can download the full eps in good quality, from Usenet or just search one of the Torrent sites.
> Better than mucking about on Youtube.
> 
> Regarding the show, this ep was better. Amazing watching how hard it was for the Girl to pull the trigger and how upset she got.




I take it these other sites are legitimate for downloads.I read a story about the Feds prosecuting a torrent.


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## BentRod (21 January 2009)

*Re: Million Dollar Trader*



Wysiwyg said:


> I take it these other sites are legitimate for downloads.I read a story about the Feds prosecuting a torrent.




W....no torrent sites are legitimate, neither is taping the TV with your VHS:


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## Pager (21 January 2009)

*Re: Million Dollar Trader*

i thought it strange they were phoning a broker to place orders 

surely it would be far more cost efficient to be using an online platform which leads me to think is there really a million on the line ?, as TBH who in there right mind would let loose a bunch of novices in the market with all that dosh ?.

Maybe Van Dam has just told them there's a million to make it real, but its actually all in dummy accounts.

Can anyone post a link to one of these torrent sites were you can download episode 2, buggered if i can find one , iam however Mr nontechnical


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## 1080p (21 January 2009)

*Re: Million Dollar Trader*

Someone posted the entire episode on the Forex Factory forum.  Make sure you come straight back to this forum though...


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## tcoates (21 January 2009)

*Re: Million Dollar Trader*

One of the last posts on the prev. mentioned site as link to this vid...

*Why you don't throw paperclips at coworkers*


http://au.youtube.com/watch?v=l3KIxzCqYqM&feature=related

Funny.

Tim


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## MRC & Co (21 January 2009)

*Re: Million Dollar Trader*



James Austin said:


> anyone found part 6 of episode 2?




Na, I couldn't find it either........

Few thoughts:

This show just brings to light the entire array of problems and emotions you go through as a trader, which is maximised 100 fold intraday and devoting your entire week too it.  Sometimes you feel in a complete hole, other times, on top of the world.  

2 months trading is nowhere near enough time, and I would like to see Miss Calm (older lady with the kids), once she cops a flogging (and if she stays in the game, she will).  

It's the tough times that test you psychologically, not the times your account shows green.  

The money they are playing with, is biscuits, I would be surprised if it wasn't real.

Also, they don't seem to understand, that the 29 year old guy watching over them, is trying to give them hints.


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## Largesse (21 January 2009)

*Re: Million Dollar Trader*

i reckon it is real cash and the reason they have to ring the broker is to slow them down a bit.

alot slower to burn your cash if you have to telephone in and out of every position. also makes them think about it at bit more rather than just *click* oops *click* oops *click* oops *click* i just lost 5000 quid


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## lesm (21 January 2009)

*Re: Million Dollar Trader*

You can get the complete episode as a single file below:

http://www.megaupload.com/?d=0VBUJC3X

It is 699MB, better than the first episode.

Make sure you have www.xvid.org codec.

They live trade in episode three, without calling the broker, with an interesting twist.

Cheers.


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*



lesm said:


> They live trade in episode three, without calling the broker, with an interesting twist.
> 
> Cheers.




How do you know?


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## lesm (21 January 2009)

*Re: Million Dollar Trader*



jersey10 said:


> How do you know?




Found part of the synopsis for the third episode via google, while looking for a complete episode two.


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## MS+Tradesim (21 January 2009)

*Re: Million Dollar Trader*

The youtube person posted part 6 for ep.2:

http://au.youtube.com/watch?v=W95VmABVGLU&feature=channel_page


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## James Austin (21 January 2009)

*Re: Million Dollar Trader*

just finished watching eps. 2.

poor bastards. the emotional roller-coaster of day trading.


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## Largesse (21 January 2009)

*Re: Million Dollar Trader*

such a shame this only runs three episodes deep.

really enjoyable viewing


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*

Just finished watching 6 of 6 episode 2.  My prediction about Simon was correct but after seeing Cleo's chat with Van Dam i am less inclined to think she is going to fail.  Looking forward to next week's episode.


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## MRC & Co (21 January 2009)

*Re: Million Dollar Trader*



James Austin said:


> poor bastards. the emotional roller-coaster of day trading.




ha ha ha, that's what I thought exactly.

Feel sorry for Simon, when he was saying it's his most stressful time since his divorce a decade ago.  Don't think people realise just how much it can affect even the coolest of customers.


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## Largesse (21 January 2009)

*Re: Million Dollar Trader*

To be brutally honest, Simon wasn't a particularly cool customer. 

Did you see how he couldn't take Anton's constructive criticism? It's not like Anton was out of line with anything he said, nor was he trying to be a dick, Simon just couldn't cope with any of it.

I'd like to think in the same situation i could handle myself a bit better


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## jersey10 (21 January 2009)

*Re: Million Dollar Trader*

i believe the real problem with all of them that is blatantly obvious with Cleo and Simon is that they don't really know what they are doing.  Cleo can't pull the trigger because she is not sure if the stock is at the right price to buy or sell and Simon justified one of his trades with Cadbury (i think) based on the fact that 'if the world is going to end everyone will still buy chocolate' or something along those lines.  How can they be expected to trade profitably with no real plan for set ups, money management, etc.


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## MRC & Co (21 January 2009)

*Re: Million Dollar Trader*

Simon was actually pretty cool considering, it was more his self doubt that got him.  Even the best traders on the planet will go through a patch like that.  He just didn't have the brain of a trader IMO, no real logic.  

These guys coaching them probably don't use specific set-ups as such or traditional MM, it looks complete discretionary.  You heard the guy who watches over them talking about a weak stock or sector (can't remember), sitting right on support and to expect a break down hard through it should it break (that is probably as close to a set-up as they get).  The guy tells them to build their portfolio, not put all eggs into one basket and to hedge (with multiple traders doing the same thing), that alone is their MM.  

Still, they need more time than 2 months, so will be interesting to see episode 3 and the conclusions it draws.  Guess these guys coaching them know what they are doing though.........


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## BentRod (21 January 2009)

*Re: Million Dollar Trader*

Interesting to note that there was one guy who a ran small sum up to about 25,000 Pounds, only to loose it all in one day when the Tech bubble burst.

He was the one who couldn't pull the trigger on that loss.


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## nomore4s (23 January 2009)

*Re: Million Dollar Trader*

I can't believe Simon called Anton (spelling?) a tosser, pot calling the kettle black there.


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## BentRod (23 January 2009)

*Re: Million Dollar Trader*

Old Simon belongs in Sammy's Thread I reckon.

LOL


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## nomore4s (23 January 2009)

*Re: Million Dollar Trader*



BentRod said:


> Old Simon belongs in Sammy's Thread I reckon.
> 
> LOL




rotflmao, I think you're right


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## MARKETWAVES (23 January 2009)

*Trading Videos*

Interesting Trading  Video  for  all  to see .....

 Please  review  this  Youtube video 


  click here
/////////////////////////////////////////////////////////////////////////
YouTube - Million Dollar Traders: Make Me a Trader - 1 of 6

---------------------------------------------------------
 All  6  videos  are  here 
http://www.youtube.com/profile?user=MillionDollarTraders&view=videos

-----------------------------------------------------------


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## emile (24 January 2009)

*Re: Million Dollar Trader*



lesm said:


> Found part of the synopsis for the third episode via google, while looking for a complete episode two.




Dont know where you are getting your info from but its wrong.

we did trade for real!
hope you enjoy it, the third show is very very interesting!!!


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## professor_frink (24 January 2009)

*Re: Million Dollar Trader*



emile said:


> Dont know where you are getting your info from but its wrong.
> 
> we did trade for real!
> hope you enjoy it, the third show is very very interesting!!!




Do you think you'll keep trading emile?

Watched the first 2 episodes, was interesting to say the least!


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## emile (24 January 2009)

who knows maybe, the show does not really show us trading though, in terms of how much work we put in etc. it shows no aspect of how we used fundamental and technical analysis. it just looks like we reacted to the news which was untrue.  perfect example of that was my adidas trade, i had worked on that for two weeks before their annual report came out, when it did the price shot up.


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## Dezza (24 January 2009)

Any ideas if Van Dam will be producing a second series after this finishes airing in the UK?


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## emile (24 January 2009)

lex is a very smart guy, im sure ha has ambitious plans


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## lesm (24 January 2009)

*Re: Million Dollar Trader*



emile said:


> Dont know where you are getting your info from but its wrong.
> 
> we did trade for real!
> hope you enjoy it, the third show is very very interesting!!!




Emile,

Good to see you posting.

In the first two episodes it shows you trading via phone using a broker, clear as day.

There was no statement that you were not trading for real. So, not aware of where you gathered that information from my post. Go back and re-read the post.

The synopsis for the third episode states that you will be trading directly from your computers and not callign a broker.

The point related to interesting from the synopisis is how they set up the keys on your workstations.

Cheers.


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## jersey10 (24 January 2009)

which one is emile? the scouse fight promoter?


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## Boggo (24 January 2009)

*Re: Million Dollar Trader*



lesm said:


> Emile,
> 
> Good to see you posting.




Agree, good to see Emile.

I love that statement by Simon "Nothing is unbelievable if you don't know what you are doing"


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## emile (24 January 2009)

*Re: Million Dollar Trader*



lesm said:


> Emile,
> 
> Good to see you posting.
> 
> ...




I was not being accusatory in any way, ive not read that synopsis yet, could you post it as it would be interesting to read.


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## jackson8 (24 January 2009)

jersey10 said:


> which one is emile? the scouse fight promoter?




yes emile is the fight promoter
would be interested to know whether any of the traders have followed on into a trading career
or if the experience has put them of trading completely


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## lesm (24 January 2009)

*Re: Million Dollar Trader*



emile said:


> I was not being accusatory in any way, ive not read that synopsis yet, could you post it as it would be interesting to read.




Will see if I can find it again and post it when I do. You guys have generated a lot of discussion around the Internet 

Thought it may be more of a misunderstanding around terminology.

It was interesting in that in the 2 episodes screened to date that you quys were trading over the phone rather than live trading directly from your workstations, which is how we normally trade. This does not infer that you were not trading for real, just another way of dining the same thing. With the inherent delays of calling the broker, receiving a quote and placing the trade

We would have thought that they would have had you trading live using straight through processing (STP) rather than via the phone. But, whoever is running the show must have their reasons for portraying it this way.

The third epsiode is supposed to show you guys trading using STP.

Based on what you have posted earlier it appears that a fair amount of activities that you have actually undertaken in analysing your trades have not come across. The show itself is mainly portraying the use of news trading and fundamental analysis, Yet, when you see some of the computer screen shots charts are being displayed, but very little is being seen from a technical analysis perspective.

At the end of the day they can only show so much in a 1 hour program and someone has to make the call on what is shown.

Looks like it may have been an interesting exposure to the world of trading, as well as a bit of a roller coaster ride emotionally for the participants.

It would have been even more interesting to newcomers to trading, due to the period in which the activity was conducted and the events hitting the world at the time. What great timing for this type of show.

Liked that comment of yours when you called out 'I just made 900 quid'.

Take it you are back in Liverpool now.

Now that you have had the exposure to trading, do you think that it is something that you may have an onging interest in?

Cheers.


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## lesm (24 January 2009)

jackson8 said:


> yes emile is the fight promoter
> would be interested to know whether any of the traders have followed on into a trading career
> or if the experience has put them of trading completely




Bit more background on Emile here:

http://www.liverpoolecho.co.uk/live...-tv-gamble-for-emile-coleman-100252-22680465/

Thought he would be one of the stayers.


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## alwaysLearning (25 January 2009)

very interesting show. I enjoyed ep 1 and 2.

Having said that I don't like the people in charge. I think they have a poor attitude. How on earth they can expect these people to not make stupid mistakes within the first two weeks training I don't know. (and then insisting that they make trades when they are still unsure)

I think Lex and his  trading friend need to get their heads examined for letting a bunch of novices spend their money like this.

There are so many things wrong with the learning approach given in this show I don't know where to start.

One thing I will say is this:

Traderfeed blog emphasizes the need for a gradual approach to learning how to trade. It talks about getting the learning curve right such that you begin with simulation trading and then work your way into very tiny live account. From there you can trade in larger position sizes as you become more experienced and profitable.

*Secretly I laugh inside a little knowing how these institutional firms run their business and the pressure they place on themselves. I don't believe trading needs to be as stressful as the way it is made out to be in this show and wallstreet warriors. And yet i'm sure that the stress level is very high for these wallstreet firms*

As retail traders we have an added edge in that since we are not trading with other peoples money it is or should be a lot less stressful than trading in a firm such as the ones in these shows.


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## sails (25 January 2009)

alwaysLearning said:


> ...Having said that I don't like the people in charge. I think they have a poor attitude. How on earth they can expect these people to not make stupid mistakes within the first two weeks training I don't know. (and then insisting that they make trades when they are still unsure)....




LOL, it's reality TV.  Notice how much attention goes on those in emotional distress and how little on the quieter ones.  This show is all about attracting viewers...  

However, it is interesting to see how different temperaments, given the same opportunities, handle the pressures of trading!


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## Dezza (28 January 2009)

Final Episode currently airing in the UK as we speak...

Great watching so far...

Emile: Still got "itchy fingers" these days?


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## Dezza (28 January 2009)

Finished. Wow, didn't see that coming. Won't spoil it for everyone but wow...

Anyways, a good show and interesting insight into the emotions of trading. 

Hopefully there'll be a 2nd series with some different people and personalities. Much better than watching Big Brother.


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## tcoates (29 January 2009)

*Last Part available on youtube...
*

*Million Dollar Traders: Traders - 1 of 6*

http://au.youtube.com/watch?v=EzuS5IHDstM&feature=related

Tim


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## alwaysLearning (29 January 2009)

I'm just wondering if it annoys some of you successful and aspiring traders that many every day people just think trading is gambling?--and give you a hard time constantly repeating the same thing to you


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## sammy84 (29 January 2009)

alwaysLearning said:


> I'm just wondering if it annoys some of you successful and aspiring traders that many every day people just think trading is gambling?--and give you a hard time constantly repeating the same thing to you




Doesn't bother me in the slightest. Just means more potential to make money


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## Pager (29 January 2009)

alwaysLearning said:


> I'm just wondering if it annoys some of you successful and aspiring traders that many every day people just think trading is gambling?--and give you a hard time constantly repeating the same thing to you




, To a certain extent it is gambling, your just putting the odds in your favour.


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## It's Snake Pliskin (30 January 2009)

alwaysLearning said:


> I'm just wondering if it annoys some of you successful and aspiring traders that many every day people just think trading is gambling?--and give you a hard time constantly repeating the same thing to you




Life is a gamble. Walking across the road is a gamble. 

But is it gambling like in a casino? no.


----------



## Largesse (30 January 2009)

well i'm just going to say that emile looked like a right old knob the way he handled himself in the last episode.
never seen a bloke so badly hypnotized by a crying girl.
harden up mate


----------



## julius (30 January 2009)

God damn Lex is one cool cat.


----------



## nomore4s (30 January 2009)

Largesse said:


> well i'm just going to say that emile looked like a right old knob the way he handled himself in the last episode.
> never seen a bloke so badly hypnotized by a crying girl.
> harden up mate




lol, I agree. I don't really understand why they walked out, it's not as if she had been harshly treated, she had plenty of chances. Just looking for an excuse to quit and take the moral high ground imo, I thought it was funny the way they were trying to justify it though.


----------



## James Austin (30 January 2009)

nomore4s said:


> lol, I agree. I don't really understand why they walked out, it's not as if she had been harshly treated, she had plenty of chances. Just looking for an excuse to quit and take the moral high ground imo, I thought it was funny the way they were trying to justify it though.




IMO they walked out cos they realised consistently profitable trading is a friggin difficult sport.


----------



## Wysiwyg (30 January 2009)

It's Snake Pliskin said:


> Life is a gamble. Walking across the road is a gamble.




Only if you`re a chicken.


----------



## MRC & Co (30 January 2009)

That was a terrible last episode.

Good insight into the emotions of the game, but where the hell was the trading?  Why show them talking down a phone putting orders on, when they could show the justification of why they were taking the trade?

The other big factor is..........2 months............means.......................zip!  

With some of them doing like 30 trades (like the shopkeeper), luck becomes a HUGE element!


----------



## 1080p (30 January 2009)

James Austin said:


> IMO they walked out cos they realised consistently profitable trading is a friggin difficult sport.




Agreed.  Once people realise there is no easy money in the markets they tend to run away.


----------



## johnnyg (31 January 2009)

Did any of you other guys (specific) find that part in Episode 3 4 of 6 where Lex and Anton are talking about getting rid of Cleo amusing? Here are 2 guys worth tens of millions of dollars and yet they still cringe about telling an emotional  women shes fired.

"so I guess she has to go right?"
'ok, how you gunna, how we gunna put it to her?'
"is she gunna cry?"
'shes gunna cry'
"this is ridiculous"
'lets do it, hopefully in 5 minutes it'll be over'

LOL


----------



## jersey10 (31 January 2009)

johnnyg said:


> Did any of you other guys (specific) find that part in Episode 3 4 of 6 where Lex and Anton are talking about getting rid of Cleo amusing? Here are 2 guys worth tens of millions of dollars and yet they still cringe about telling an emotional  women shes fired.
> 
> "so I guess she has to go right?"
> 'ok, how you gunna, how we gunna put it to her?'
> ...




yes i thought that was quite amusing

but Cleo would cry if she stood on an ant, people like that can be hard work at times.


----------



## Largesse (31 January 2009)

the way lex said

"this is ridiculous" made me laugh for about five minutes


----------



## happytown (31 May 2009)

for anyone interested, the series million dollar traders starts screening this week on sbs tuesday night 7.30pm

cheers


----------



## Trembling Hand (2 June 2009)

I haven't read through this thread cuz I don't want to spoil the series so not sure if its been discussed but,

They were clearly not executing the trades into the market. Their "broker" was probably a guy sitting in the room next door.

And really as far as the whole premise, its a load of toss. Other than watching chocolate soldiers melt


----------



## jersey10 (2 June 2009)

Trembling Hand said:


> I haven't read through this thread cuz I don't want to spoil the series so not sure if its been discussed but,
> 
> They were clearly not executing the trades into the market. Their "broker" was probably a guy sitting in the room next door.
> 
> And really as far as the whole premise, its a load of toss. Other than watching chocolate soldiers melt




I recommend you don't read through the thread because it will tell you what happens.  When discussing this a few months ago a few people found it weird they were on a phone and not placing orders via internet.  Does get a bit funny the way some of them carry on during the series.


----------



## jono1887 (2 June 2009)

jersey10 said:


> I recommend you don't read through the thread because it will tell you what happens.  When discussing this a few months ago a few people found it weird they were on a phone and not placing orders via internet.  Does get a bit funny the way some of them carry on during the series.




I loved the part where that old man bought when he was meant to be selling, but for that phone thing...  your right, it could just be the equivalent of paper trading, maybe no money is even being risked in the making of the series... they may as well use a simulator.

btw - do any real traders use phone brokers these days??


----------



## skyQuake (3 June 2009)

jono1887 said:


> btw - do any real traders use phone brokers these days??




Maybe an investor, but definitely not a trader.

Imagine TH with a phone broker.:

TH: Ok, open a long, right about... NOW
Broker: Ok sir, the order is being placed and we...
TH: CUT AND REVERSE
Broker: ..wut? We were placing your..
TH: Scratch that, spoof 50 on the bid and try to get a short filled at 47
Broker: ....
TH: Hit that 100 lot!
Broker: ..you have a good day sir.


----------



## nomore4s (3 June 2009)

skyQuake said:


> Maybe an investor, but definitely not a trader.
> 
> Imagine TH with a phone broker.:
> 
> ...




lol.

The whole series is on youtube - if you don't want to wait for SBS or you miss an episode.


----------



## jono1887 (3 June 2009)

nomore4s said:


> lol.
> 
> The whole series is on youtube - if you don't want to wait for SBS or you miss an episode.




its been removed because of copyright


----------



## nomore4s (3 June 2009)

jono1887 said:


> its been removed because of copyright




lol, that sucks, it is quite entertaining.


----------



## moXJO (3 June 2009)

jono1887 said:


> btw - do any real traders use phone brokers these days??




Actually in the US a few do, and they won't touch internet platforms


----------



## Trembling Hand (3 June 2009)

moXJO said:


> Actually in the US a few do, and they won't touch internet platforms




Except to get ALL their info!!


----------



## Trembling Hand (3 June 2009)

nomore4s said:


> lol, that sucks, it is quite entertaining.




Yes it is entertaining but seriously the two head guys are full of it!! What did they expect to happen except tears? They don't even give them the right cliches let along help them figure out a good trade.

But no doubt it will whet the appetite of all the fresh meat out there and CMC will have a few 100 new accounts next month


----------



## moXJO (3 June 2009)

Trembling Hand said:


> Except to get ALL there info!!




Ya I should clarify, they use the net for charts info etc. But not to trade across. Mainly due to previously being caught by blackouts or site problems and being stuck in trades. Couple hundred thousand people all ringing the net broker makes it worse.


----------



## adobee (3 June 2009)

I really enjoyed this program... 

How do you know that the trades arent real.. it seemed real enough to me..
even if its not the contestants obviously think it is..

compared to everything else i am getting on free to air tv I rate this higly..


----------



## nomore4s (3 June 2009)

Trembling Hand said:


> Yes it is entertaining but seriously the two head guys are full of it!! What did they expect to happen except tears? They don't even give them the right cliches let along help them figure out a good trade.
> 
> But no doubt it will whet the appetite of all the fresh meat out there and CMC will have a few 100 new accounts next month




Like any reality show, it is more about entertainment than any form of actual education.


----------



## Trembling Hand (3 June 2009)

adobee said:


> I really enjoyed this program...
> 
> How do you know that the trades arent real.. it seemed real enough to me..
> even if its not the contestants obviously think it is..
> ...




Because they for starters name the companies by name rather than ticker. Which I have not seen done with a broker.

But you can see that the conversation with the broker on the traders instructions are simply not enough time for him to execute. That there is a very important part missing in these conversations. It goes like this.

trader, Hi, buy 300 xzy at market to open long
broker, Ok xyz ask at 30. you would like to by 300 at market?
trader, yes thats right.
broker, Ok you would like me to buy 300 xyz at market can you confirm please
trader, yes correct.
Broker, Ok executed,
trader, yeepie,
broker, i can confirm you bought 300 xyz at market for 30.08

All the blue bit is missing.

AND they are just quoting prices and magically thats the price they get. Its rubbish. No delay between giving price quotes and execution and no slippage. All limit orders are instantly executed  BS. In the most volatile time in since 87.

Come on!!


----------



## jono1887 (3 June 2009)

Trembling Hand said:


> AND they are just quoting prices and magically thats the price they get. Its rubbish. No delay between giving price quotes and execution and no slippage. All limit orders are instantly executed  BS. In the most volatile time in since 87.
> 
> Come on!!




I dont think they are even placing limit orders, just at market


----------



## brty (3 June 2009)

TH,

I think you have heard of "never letting reality get in the way of a good story".

Most 'reality' TV is not real (just cheap), so why should this be?

To have slippage included, would make the story even worse (and the results). They don't want to scare off the lambs.

brty


----------



## Trembling Hand (3 June 2009)

brty said:


> TH,
> 
> I think you have heard of "never letting reality get in the way of a good story".
> 
> ...




yes yes i get that. 

but really as far as reality shows goes. this is a shocker. At least they have a screening process to find some sort of skills to work with, not with this one. 

Should be a great blow up.

Melt chocolate soldiers, melt.


----------



## awg (3 June 2009)

havnt read all the thread, but Im sure they were just using Demo accounts

real money wtf, no way

we should arrange an Oz version

hey TH..do you want to be the hard bastard?


----------



## Julia (3 June 2009)

Trembling Hand said:


> Yes it is entertaining but seriously the two head guys are full of it!! What did they expect to happen except tears? They don't even give them the right cliches let along help them figure out a good trade.



I've only seen the one episode last night, but presumed we're supposed to imagine the aspiring traders have already had some education and are now expected to be able to figure out good trades without further assistance.



> But no doubt it will whet the appetite of all the fresh meat out there and CMC will have a few 100 new accounts next month



I actually had the opposite impression, i.e. thought there was a clear impression created about how difficult it is to be successful.
Thought it was a useful programme if only because it might prevent a few people losing their money.

And it was pretty entertaining imo.


----------



## jono1887 (3 June 2009)

Julia said:


> And it was pretty entertaining imo.




It was very entertaining! i loved the part where lex goes 'great, one of them has got sh*t for brains, and the other can't stop crying!'


----------



## brty (3 June 2009)

Julia,



> I actually had the opposite impression, i.e. thought there was a clear impression created about how difficult it is to be successful.
> Thought it was a useful programme if only because it might prevent a few people losing their money.




If you make the program with people who look like they have no idea, then many viewers will think to themselves, 'I'm smarter than that', hence just showing/highlighting that trading happens with all sorts of people just encourages more of it.


I can see the Aussie version now with TH as the evil looking professional, lampooning the contestants every move, then spitting out the vitriol as the raw prawn oozes out of the side of his mouth at the hapless newbee......

oh, sorry, wrong program, that one has been done, but I hope you all get the picture....:

brty


----------



## ThingyMajiggy (3 June 2009)

For those interested, you can still access all the episodes on Google Video. 

That IT guy, what a goose, doesn't know what hes doing most of the time, not many of them do, but he seems extra hopeless. Cracked up when Lex said he had sh*t for brains 

Lex seems just as mad though, saying he can't afford to lose the money he has given them, doesn't seems terribly smart to me! It's all probly a load of hog wash though, its good watching them squirm though


----------



## Mr J (3 June 2009)

It seemed typical reality tv to me. If Lex is good, he's not placing himself at significant risk, and there's no reason why we shouldn't assume that the trades are not executed. The other guy (Andy? Been a while since I watched) had the show boasting that he retired at 27-29 as a "millionaire", when that in itself does not mean much. There was also the pressure to always be in trades, work long hours and always be at the desk. They're not shorterm trading here, so there's no need to be glued to the screen.


----------



## DB008 (3 June 2009)

Would be good if they showed how a REAL hedge fund operates, just so that we could compare it to these people who have never don't trading before.


----------



## Trembling Hand (3 June 2009)

DB008 said:


> Would be good if they showed how a REAL hedge fund operates, just so that we could compare it to these people who have never don't trading before.




But they are, over confidence, BS, tears and money lost.

Thats how it works.


----------



## The Mint Man (3 June 2009)

Well I missed this thread when it was first posted but did see the first ep on SBS last night.
I agree with Julia, I thought it was quite entertaining. Sometimes I felt so bad for the old bloke.... just losing, losing and more losing.. I was quite impressed by the guy who completed a couple of trades based on news events. Simple but effective and for a new trader I thought that was impressive. As for the chick, wow.... it really got to her. I felt like jumping through the screen, shaking her and saying 'its not your money damn it, what you got to lose'? Just watching it seemed that she may have been up on a couple of trades had she actually followed through.


----------



## Julia (3 June 2009)

brty said:


> Julia,
> 
> 
> 
> If you make the program with people who look like they have no idea, then many viewers will think to themselves, 'I'm smarter than that', hence just showing/highlighting that trading happens with all sorts of people just encourages more of it.



OK, good point.   I see what you mean.  But I thought the people had been chosen for their, um.  'outstanding potential' .  Is the viewer supposed to take into account that their ineptitude and nervousness is being heightened by their being filmed?


----------



## rustyheela (6 June 2009)

*SBS 1 Million dollar traders tuesdays 8.30*

english $$ sqillionaire hedge fund manager gets 8 average joe blows off street and lets them loose in trading house during last years market crash. Check it, its better than any comedy.


----------



## Naked shorts (6 June 2009)

*Re: SBS 1 Million dollar traders tuesdays 8.30*



rustyheela said:


> english $$ sqillionaire hedge fund manager gets 8 average joe blows off street and lets them loose in trading house during last years market crash. Check it, its better than any comedy.




Already a big thread on this, might be worth using the search function.


----------



## korrupt_1 (9 June 2009)

*TV show: Million Dollar Traders on SBS*

Anyone watching the TV show on SBS about 8 novice traders been thrown into the deep end and trying to trade for a living?

http://www.sbs.com.au/blogarticle/109701/Million-Dollar-Traders-3-part-series/blog/Documentaries-SBS

Interesting to see note that the poor rookies started out right in the midst of the GFC!!! Like to see how it all ends up. Tonight will air the 2nd episode. You can watch the 1st one online.


----------



## jono1887 (9 June 2009)

*Re: TV show: Million Dollar Traders on SBS*



korrupt_1 said:


> Anyone watching the TV show on SBS about 8 novice traders been thrown into the deep end and trying to trade for a living?
> 
> http://www.sbs.com.au/blogarticle/109701/Million-Dollar-Traders-3-part-series/blog/Documentaries-SBS
> 
> Interesting to see note that the poor rookies started out right in the midst of the GFC!!! Like to see how it all ends up. Tonight will air the 2nd episode. You can watch the 1st one online.




i watched the 1st one last week and downloaded the other 2. Its quite interesting, but its more for entertainment than for learning anything about trading.


----------



## Mr J (9 June 2009)

*Re: TV show: Million Dollar Traders on SBS*



korrupt_1 said:


> Interesting to see note that the poor rookies started out right in the midst of the GFC!!!




Yes, poor rookies, starting at what may have been the greatest trading opportunity of my lifetime. What I would have given to be part of it...


----------



## bongcso (9 June 2009)

*Re: TV show: Million Dollar Traders on SBS*



jono1887 said:


> i watched the 1st one last week and downloaded the other 2. Its quite interesting, but its more for entertainment than for learning anything about trading.




When I watched the first episode last week, it reminded me of my early attempts at trading. Contrary to what jono1887 says, I think new traders can learn about trading in at least two ways:

1) Psychology of trading
For someone who has never traded, pulling the trigger can be extremely difficult. Taking a loss also very devastating psychologically and it makes you lose confidence in your abilities. Many books have been written about this but you can see this in action in the program. I recommend anyone who is an employee and aspiring to trade for a living to watch this.

2) Risk Management
I also found the comments by their mentor, a retired professional trader, very helpful. He was always telling the traders to hedge their trades to manage their risk. When you put on a trade, it can always go against you no matter how well you had done your analysis before you put on the trade. It took me more than 2 years before I could profit consistently from my trading and this only happened when I learned how to manage risk.

Christina


----------



## Nero64 (9 June 2009)

That Anton guy is a complete p*$%.

Funny to see the economics student going for a coffee and then coming back to see his position fall.  We are all guilty at staring at our losses all day and week 

A guy who buys arms dealing stocks, and another ethical stocks. Throw is a house wife who is beating them all..classic.


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## catman (9 June 2009)

The keys to successful trading.

Taking a loss. You pay for the privilege, bought too high, bought on the way down.  Regardless of what you did wrong, figure out what it was and don't make the same mistake again.

Patience.

Timing.

Never chase a trade.

PLAN - Know your stock charts, keep your finger on the pulse, know when to enter a trade (breakout point) know when to exit oversold.  

Don't get too greedy in a bear market as the bear just might rip your arm off.


----------



## beerwm (9 June 2009)

*SPOILERS;*

anyone find the results abit poor?

best 3 traders - -1%, 0.5%, 1 %
and the so called 'pro',-  -5% or something [from memory]


----------



## jono1887 (9 June 2009)

Nero64 said:


> That Anton guy is a complete p*$%.
> 
> Funny to see the economics student going for a coffee and then coming back to see his position fall.  We are all guilty at staring at our losses all day and week
> 
> A guy who buys arms dealing stocks, and another ethical stocks. Throw is a house wife who is beating them all..classic.




Yea, that was funny... 'went out for cake and the stock let me down'

I don't see why that ethical guy has to start arguments though... its his personal choice if he wants to trade ethically, he shouldn't be criticising the other traders. And why is he only arguing with the ex army guy, aren't the others trading in anything else that's unethical?


----------



## jono1887 (9 June 2009)

beerwm said:


> *SPOILERS;*
> 
> anyone find the results abit poor?
> 
> ...




Yeh, that lex guy was up .4% and down 1% in the 2 months that the show was running. Well you have to consider that it was the peak of the crisis, weren't most funds loosing money in that period?

I don't get why he was criticising the student though even though he was the highest earner... how was the mother doing any better?


----------



## Mr J (9 June 2009)

jono1887 said:


> And why is he only arguing with the ex army guy, aren't the others trading in anything else that's unethical?




Banks, insurance companies, pharmaceutical companies, oil companies, resource comparnies etc, bit hard to avoid them, as most things are considered "unethical" by someone!


----------



## jono1887 (9 June 2009)

Mr J said:


> Banks, insurance companies, pharmaceutical companies, oil companies, resource comparnies etc, bit hard to avoid them, as most things are considered "unethical" by someone!




I wonder what that enviro guy was trading then... it leaves him out of alot of sectors if you put it that way. perhaps he traded in solar/hydro energy? hybrid car manufacturers... what else is there?


----------



## Mr J (10 June 2009)

There's not much, but then most people don't take it to the extreme. Still, it is surprising to see the number of "greenies" that hold onto many "harmful" products and behaviours.


----------



## beamstas (10 June 2009)

catman said:


> Never chase a trade.




The turtles would disagree with this. They would chase trades are far as they needed to.


----------



## pete robbo (10 June 2009)

Would anyone know where i can catch the first episode ? BBC has blocked u tube ( copyright apparently )


----------



## beamstas (10 June 2009)

pete robbo said:


> Would anyone know where i can catch the first episode ? BBC has blocked u tube ( copyright apparently )




Try the SBS website mate.
I had the link but i've lost it sorry!
But i watched it on their site, full episode, no ads 

Brad


----------



## pete robbo (10 June 2009)

Unfortunatly Beamstas it only has ep 2, thanx anyway


----------



## beerwm (10 June 2009)

pete robbo said:


> Would anyone know where i can catch the first episode ? BBC has blocked u tube ( copyright apparently )




torrents


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## jono1887 (10 June 2009)

http://www.youtube.com/watch?v=P2EkcT9q28Q this is the whole series


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## korrupt_1 (10 June 2009)

is it still normal practice for firms to place 'phone trades' like they do on the show? it looks so very old fashion and a waste of time and resource.


----------



## Mimi (24 June 2009)

*Re: Million Dollar Trader*



lesm said:


> You can get the complete episode as a single file below:
> 
> ...
> 
> ...




Hi Lesm,

Thanks for posting this.  Do you by any chance have the link to Episode 3?  I can't seem to get hold of it.

Thanks.
Mimi.


----------



## jono1887 (25 June 2009)

*Re: Million Dollar Trader*



Mimi said:


> Hi Lesm,
> 
> Thanks for posting this.  Do you by any chance have the link to Episode 3?  I can't seem to get hold of it.
> 
> ...




The whole series is here
- http://extratorrent.com/torrent/1993208/Million+Dollar+Traders+-+Series+1+(2009)+WS.PDTV(XviD).html

OR

- http://www.torrentdownloads.net/torrent/670189/Million+Dollar+Traders+-+Series+1+(2009)+WS.PDTV(XviD)


----------



## Onceblue (25 January 2010)

Any one else being watching the documentary on SBS called Million Dollar Traders, Mondays at 1.30pm?


----------



## nomore4s (25 January 2010)

Onceblue said:


> Any one else being watching the documentary on SBS called Million Dollar Traders, Mondays at 1.30pm?




Is it a new series or just a repeat of the old one talked about in this thread?


----------



## Liar's Poker (31 January 2010)

Anyone know if you can get this on DVD?

Nothing on ebay.


----------



## Market Sniper (31 January 2010)

for memory i think its on you tube


----------



## Liar's Poker (31 January 2010)

Market Sniper said:


> for memory i think its on you tube




I know, I just have this thing for DVD's.


----------



## bonkerrs (10 February 2010)

Market Sniper said:


> for memory i think its on you tube



I can't find the full episodes on youtube. Any ideas where else this series can be found?


----------



## UBIQUITOUS (11 February 2010)

bonkerrs said:


> I can't find the full episodes on youtube. Any ideas where else this series can be found?




Try UKNova


----------



## nulla nulla (11 February 2010)

Was it on the ABC? If so they may have it in the ABC stores.


----------



## Liar's Poker (16 February 2010)

nulla nulla said:


> Was it on the ABC? If so they may have it in the ABC stores.




Nah, it was on SBS. Although, I did check the ABC store (to no avail).


----------



## bonkerrs (16 February 2010)

Liar's Poker said:


> I did check the ABC store (to no avail).



Same


----------



## traderboi29 (23 April 2011)

ok, i'm going to post this link again as for some reason it was deleted, or is it cos the moderator thinks i'm a spammer? google my name on the trade2win forum and that should tell you i aint.......

for everyone that is looking for he full videos on million dollar traders it's at www.million-dollar-traders.info

there is also bonus unseen footage on it.


----------



## Country Lad (23 April 2011)

korrupt_1 said:


> is it still normal practice for firms to place 'phone trades' like they do on the show? it looks so very old fashion and a waste of time and resource.




Yes, one of the more valuable pastimes is getting the latest info and having a chat with my broker.  I do much of the smaller and short term trades directly but the use of the broker (a more than 30 year relationship with the firm) means many benefits not available to internet traders, particularly access to good IPOs, capital raisings and interesting research results.

Cheers
CL


----------

