Reality TV Does Trading

[TradeRunner 10]

8 ordinary people given a million dollars and a couple of weeks training and let loose on the markets during July and August last year:

 

http://www.bbc.co.uk/programmes/b00gthhq

 

on tonight on BBC2.

[brownsfan019 17]

Interesting. If anyone knows a way for us yanks to watch it, let us know!

 

 

http://www.bbc.co.uk/bbctwo/watchlive/ - tried going there but says not available in your area.

[MidKnight 12]

I'll keep an eye out for any TV rips...

[brownsfan019 17]

Found a rip of the first one.

 

Google 'thebox' (all 1 word). First search result will take you to a torrent site. From there search for Million Dollar Traders (after registering) and off you go. Very quick download, have not watched yet though.

[BlowFish 10]

I quite enjoyed it though being reality TV don't expect anything too illuminating.

[firewalker 10]

Interesting. If anyone knows a way for us yanks to watch it, let us know!

 

 

http://www.bbc.co.uk/bbctwo/watchlive/ - tried going there but says not available in your area.

 

You can always use an IP proxy so it will look as though you are behind a UK ISP.

 

Anyway, I thought the guys in the show were looking to much at the newspapers and too little at their screens

[atto 20]

I wonder what kind of training these people actually got. It seems they have below typical retail trading knowledge, and are hooked trading after the fact news. I see a few trendlines on their screen, but they seem pretty clueless.

 

Also, I wonder what they're doing all day. Going nearly a week with no positions, and planning to hold positions for "weeks" (on a very limited total time limit)... hm. If this guy was trying to make some Turtles, he's not doing it in the right way. Then again, this was just the first episode, so they could blow everyone out of the water by the end.

[firewalker 10]

I wonder what kind of training these people actually got. It seems they have below typical retail trading knowledge, and are hooked trading after the fact news. I see a few trendlines on their screen, but they seem pretty clueless.

 

Also, I wonder what they're doing all day. Going nearly a week with no positions, and planning to hold positions for "weeks" (on a very limited total time limit)... hm. If this guy was trying to make some Turtles, he's not doing it in the right way. Then again, this was just the first episode, so they could blow everyone out of the water by the end.

 

Yeah, I was kind of scratching my head on that too. They received some "complex technical analysis", but I don't really see any of that in their trading decisions...

 

Also beats me why anyone needs to be in the office two hours before the markets open. Unless they need to go through all the newspapers, which seems to be the case ...

[Kiwi 16]

OK. I've watched 30 mins so far. What training? Gee ...

 

I just pray that there are some people like that trading my markets. Hell. There must be. That explains why I'm profitable.

[atto 20]

Yeah, if people approach trading like this, even if they learn to manage risk and make better decisions, that's where we get our edge. And getting hedge fund trading ideas from the news paper for swing positions? Also, getting pissed at traders for not hedging their financial positions... wouldn't that kill most of their profits (if they were right and had an actual edge)? I can see why everyone shouldn't have been short, but shorting US banks long UK banks probably won't do what you want... just use a smaller position size if the downside is too big.

 

Maybe the second week, they'll go "Okay, so now you know how hard it is to try this without a plan. Here's mine, you better follow it, or you'll be like you were."

 

Edit: Someone posted on YouTube: [ame=http://www.youtube.com/watch?v=gVcMCrwc9UE]YouTube - Million Dollar Traders- Teach Me To Trade BBC2 1 of 6[/ame]

[ame=http://www.youtube.com/watch?v=AvZAM0pHf6M&feature=channel_page]YouTube - Million Dollar Traders - Make Me A Trader BBC2 2 of 6[/ame]

[ame=http://www.youtube.com/watch?v=0dKBeP_Q14E&feature=channel_page]YouTube - Million Dollar Traders - Make Me A Trader BBC2 3 of 6[/ame]

[ame=http://www.youtube.com/watch?v=uldTdECfQFs&feature=channel_page]YouTube - Million Dollar Traders - Make Me A Trader BBC2 4 of 6[/ame]

[ame=http://www.youtube.com/watch?v=iW94G6J2XJ8&feature=channel_page]YouTube - Million Dollar Traders - Make Me A Trader BBC2 5 of 6[/ame]

[ame=http://www.youtube.com/watch?v=ubv8G1KZ0Po&feature=channel_page]YouTube - Million Dollar Traders - Make Me A Trader BBC2 6 of 6[/ame]

Edited January 15, 2009 by atto

[BlowFish 10]

I would have liked to have seen a bit more about the training they got, I believe it was 2 weeks? Not much time but then again enough to cover the important things. There does seem to be a leaning towards news and swing type time frames. The army guys pairs trade was interesting presumably they got some training on pairs?

 

Towards the end I found the bit where they all got a bollocking for all being on the wrong side of the market without having the risk better hedged interesting (though not enough info to really work out what was meant by that).

 

Could have got a bit more in depth treatment without loosing Joe public.

[daedalus 10]

This is amazing. I've wanted to watch something like this for so long. If for no other reason to show my family that what I do isn't easy and give them a greater understanding of what we do and what we are up against.

[firewalker 10]

This is amazing. I've wanted to watch something like this for so long. If for no other reason to show my family that what I do isn't easy and give them a greater understanding of what we do and what we are up against.

 

I'm afraid people will actually get the wrong impression by watching that. But only one out of three episodes has been aired yet, so I'll keep my final verdict in deliberation

[daedalus 10]

oh don't get me wrong... as far as "what we do" I don't mean that in a literal sense of trying to be stupid and "guess" what stock will rise and fall of a freaking news event... but I just mean the emotional/psychological aspect of the job.

 

No one ever quite understands why this profession can be so difficult and trying.

[Flojomojo 10]

Btw...you can use this link: http://keepvid.com/ to download the youtube videos. I recommend the VLC player to watch the files: http://www.vlc.de/vlc_download.php

For me its really interesting to take a look at these ppl and their group dynamics...amazing how fear and the psychological battle gets impregnated in their faces! All I could do upto now is take a look in the mirror!

[firewalker 10]

Anyone seen the second episode?

 

I had hoped for some more insight, but all I'm seeing is a bunch of people reacting to news and looking for explanations why the market is going this or that way.

 

It's surprising some of the group are actually making a profit imo.

[BlowFish 10]

I have it on sky+ (like tivo for those outside the UK) but 24 and battlestar are too so it might have to wait a while

 

I am loath to make out and out recommendations, but, if you get a chance to see http://www.traderslaboratory.com/forums/f18/the-ascent-of-money-interesting-tv-5275.html I found it enjoyable and informative.

[Flojomojo 10]

Thx Blowfish for the hint, sounds interesting...the person here http://de.youtube.com/user/MoOnL1ght123 seems to have uploaded all parts on youtube.

Enjoy watching,

Flojo