I have just finished watching a 3 part series that was aired in the UK called “Million Dollar Traders”.
Basically it follows 8 people who were plucked out from all walks of life, to see if they could actually learn to trade in only 2 months. To make matters worse, the world financial crisis was just beginning, adding added pressures, that even “seasoned” traders had never seen. Worst market conditions for a generation, as one trader says.
It was FASCINATING. I wont give too much away (as I DO recommend you view it), but ONE statement stood out from ALL the others…one of the participants just said
“YOU CANNOT LEARN THIS FROM A BOOK, ONLY BY EXPERIENCE”
I watched this, too - it was really good. Those that didn’t succeed were the ones that didn’t stick to the rules. Psychology was a massive factor as well and really showed what can happen if you don’t have consistency in your trading.
Wrong series. The hulu series is called [B]Wall Street Warriors[/B]. It’s a fun series, but it’s not the [B]Million Dollar Traders[/B] series aired on BBC, which according to the BBC is no longer available online.
[QUOTE]Wrong series. The hulu series is called Wall Street Warriors. It’s a fun series, but it’s not the Million Dollar Traders series aired on BBC, which according to the BBC is no longer available online.[ /QUOTE]
Among other things, it was interesting to see the different psychologies in play…one girl had fear which paralyzed her trading capabilities, one guy had greed “itchy fingers” and another was distracted and not following the rules, and the 4th had a problem with the ethics of it all. These traders were the 4 that didn’t make it and my concern is relating to the girl with the fear factor…lol…although I really shouldn’t laugh! :o
I also liked that the three that did make it didn’t necessarily have to have much if any pre-existing financial education/background, so again it all boils down to having the right psychology.
Don’t understand the guys that walked out because the girl got fired. The setup is a business setup and even they had to work as a group, in the end it was every one for themselves.
No difference here, we can learn,share, advice that’s great but in the end it is your decision and your money to trade or not.
In a way they had it easier, since somebody else forked the money over and lost. :eek:
Probably not since BBC paid him again a nice bundle for doing it, they had it on there TV station and got advertisers, advertisers roll the money over into there products and guess who is paying it in the end?
