Million Dollar Traders

[bongcso]

Re: TV show: Million Dollar Traders on SBS

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]

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.

 

[catman]

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]

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]

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]

SPOILERS;

anyone find the results abit poor?

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

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]

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]

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]

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]

Never chase a trade.

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

 

[pete robbo]

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

 

[beamstas]

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]

Unfortunatly Beamstas it only has ep 2, thanx anyway

 

[beerwm]

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

torrents

 

[jono1887]

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

 

[korrupt_1]

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]

Re: Million Dollar Trader

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

...

It is 699MB, better than the first episode.

Make sure you have...

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

Cheers.

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]

Re: Million Dollar Trader

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.

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]

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

 

[nomore4s]

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?