Million Dollar Traders

[nomore4s]

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]

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..

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]

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]

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]

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

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

Re: 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.

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

 

[korrupt_1]

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]

Re: 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.

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]

Re: TV show: Million Dollar Traders on SBS

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...