Movie: Floored

Beginner Questions
1

Well: this is not one of my ‘articles’ that I post here from time to time. This is WAY better!!! LOL!!!

Put another way: if you love this business with all of your heart, mind, and soul then I’d like to suggest that you watch this movie. It’s a recently released documentary about the floor (pit) traders at the Chicago Mercantile Exchange (CME). While it deals with commodity futures trading (and, seeing as this is a forex site, you may think it may not be of interest to you) the insights into the PSYCHOLOGY of trading are superb. This documentary ‘puts a face’ to this wonderful business. To my surprise: Linda Raschke is interviewed in the movie and there are a few other names which I’ve heard of over the years.

Here is a link to the films official website:

About - FLOORED

Here is a link to a site where the movie can be purchased as a download:

Floored - The movie

And last but not least: here is an official link to a site where the movie has been split into episodes for you to watch FOR FREE (and it’ official, legal, and sanctioned by the copyright owners i.e. see my comment below):

Babelgum

Try as I might: I cannot quite understand why the movie is being officially made available to everyone for free (albeit in the form of episodes) while at the same time it is being sold as well. Then again: I’m not in the movie business and that’s maye why I’m not ‘getting it’!!! LOL!!!

Enjoy.

Regards,

Dale.

2

I’ll have to check this out later when I get home from my NYC 4th of July :smiley:

3

Well that was a bit of an eye opener
The funniest part was where they were calling the computer traders “evil” after recounting how fellow traders would spit in their faces & bite each other while on the floor… never mind the rest, Gosh what a curious bunch, lol! (I was gonna use another term) :rolleyes:

4

Pretty good movie, if a bit bleak at points. I would have liked to see some more successful traders profiled rather than the numerous burnouts upon which the movie seemed to focus. But it did do a good job of capturing those emotional aspects of trading.

5

Great post! Thanks for the heads up on the film. Was a great psychological insight into another aspect of trading.

6

Good evening everyone (well it’s evening here anyway).

I’m pleased that it’s being well received.

I just found it ironic that that these great men have to follow the SAME rules and go through the SAME emotions that we’ve all gone through at some point or another.

Here is the trailer to another movie called ‘The Pit’ which, to the best of my knowledge, has not yet been released (if anybody knows differently then please let me know i.e. I’d like to watch it / buy it):

YouTube - Trailer for the 2010 documentary “The PIt”

For some reason or the other: it makes me sad that these men are becoming a dying breed. To me (and for some or the other inexplicable reason): that’s always been the ‘real’ market and a job that I’ve aspired to. I missed my time I guess.

Regards,

Dale.

7

Hello, Dale

I hope all is well with you, down there in the far, far south.

I’m enjoying this thread. Thanks for bringing the FLOORED videos back to our attention.

One of the most exciting places I ever visited was the floor of the COMEX (Commodity Exchange) in New York, when it was housed in the World Trade Center. I was on the floor of the COMEX, just outside the gold pit, as a visitor — and the intensity was incredible. It was like being on a battlefield, as an observer. I guess it would be accurate to say that the place was awash in testosterone. Like you, I always thought I might end up there some day, yelling like a banshee, getting elbowed in the ribs, and trading big bucks.

But, all things considered, it’s a grossly inefficient way to make a market.

When NASDAQ was launched, I remember thinking that electronic stock trading is eventually going to replace traditional stock exchanges, and I remember being a little sad about that. I found the New York Stock Exchange an exciting place to be — although it was calm, sedate and civilized compared to a commodity pit.

If electronic trading had never been invented, we’d all be perfectly content to trade things the old, traditional way. But, now that electronic trading has swept the world, the old ways just can’t keep up.

You should come to the U.S. and trade cattle in Chicago for a few years — before they let electronic trading put the cattle pit out of business.

8

You know I was amused, no, amazed! when these guys from the “out cry” or pit went to trading electronically. They were yelling at the screen & getting all emotional when the trade was going against them… I thought, I’m a greenie at this & I can see they are doing it all wrong!
Amazing that in the pit that’s how you do it & successfully too, but on the screen?.. :eek:
Very interesting.

Any of you guys yell & swear @ your screens in a trade? :smiley:
Thanks for the insight!

9

Hey Clint,

Thanks for sharing your insights. I’ve got to be honest: I’m JEALOUS that you’ve been there and seen ‘the real thing’!!! LOL!!!

I have to tell you that it is INDEED my goal in life i.e. to end up in New York because that’s where ‘the rubber meets the road’ in this business as far as I’m concerned. Before my ‘spectacular wipeout’ I figured it would not take long to get there but it’s now going to take a (long) while I guess. But: I sure will never give up!!!

To be honest: I’ve been looking for vacancies at various places (brokers) to see ‘how things work’. It’s interesting to note that in almost ALL cases: you don’t just get a PAID job at a brokerage i.e. in all instances that I’ve seen you ‘arrive’ with your OWN money (and don’t forget the cost of living in New York). You don’t get paid ANYTHING by the brokerage. You trade your OWN money (they of course will train you) and only after you’ve reached certain performance standards and passed exams will they allow you to trade client’s money (and of course: the sky really is the limit after that assuming that you can ‘tow the line’). The only other alternative for me is to possibly move my ‘Deltastock SA’ ‘operation’ to the USA but from what I gather: due to the regulatory requirments in the USA I’ve got more chance of falling pregnant and giving birth in the same month (for those you who don’t know I’m a MALE) than this happening!!! LOL!!!

On the subject of the pit: one thing that I hope that new traders take from this thread (and the movie) is the realisation that you’re TRADING (whether it be electronically or in the pit). In other words: just because you place an order at a specific price does not necessarily mean that is the price at which it’s going to be executed. In other words: electronic trading is STILL a ‘market’ and the words ‘Bid’ and ‘Offer’ mean EXACTLY that. As a matter of fact: think of it as an e-Bay auction!!! In other words: SLIPPAGE is just ‘the name of the game’ and it’s not NECESSARILY the broker that’s trying to ‘fleece’ you. (Sorry: but I read so many posts on this subject that I don’t even bother to respond anymore).

On the subject of the movie: I make the observation that people that are truly attracted to this business (not JUST for the money to be made) are a certain ‘type’ of person. I ‘saw myself’ in many of those interviews. For the past few years: I have, now and then, asked myself WHY??? WHY THIS business??? WHY have I never felt the same way about anything else I’ve done in my life??? The answer lies in many of those interviews I can tell you!!! LOL!!!

Hey ‘green as grass’:

Well: I’ve cried, I’ve had the shakes, I’ve shouted, I’ve sworn, I’ve begged!!! LOL!!! Does that answer your question??? LOL!!! BUT LET ME SAY THIS: that was only for the first two to three years!!! In the past two: sure I’ve been dissapointed and sure I’ve lay awake nights worrying about my situation but I no longer ‘lose it’ i.e. I simply accept losses as they come my way. As a matter of fact (and this I now believe is probabl the most important advice that anyone can give): it is noted in the movie that it’s NOT how much you MAKE in this business but how LITTLE YOU LOSE that makes the difference between being successful and ‘wiping out’ over and over again. I was fortunate enough to read this in a book a year or two ago and it sure changed MY (trading) life let me tell you (I forget which book but I THINK it was one by Larry Williams although I’m probably mistaken here).

Anyway and just for fun: here’s links to some other YouTube videos that had me ‘in stitches’ this past week.

YouTube - Angry broker at the CME

and

YouTube - Stock Futures Trader losses it all and flips out

The above I’m not ENTIRELY sure was not staged. I don’t THINK so but I had to ask myself WHY on THAT DAY, was the guy ‘recording’ his charts and had a camera pointed at himself while trading. Nevertheless: I KNOW the FEELING i.e. just look at his one position i.e. on that particular day he was BETTER OFF by around $60K than I was at the time ALSO on the Dow and it’s a day that I’ll never forget. Why??? NO STOPS!!! The trade NEVER comes back to you!!! And one of my FAVOURITE sayings (that somebody from one of the banks so aptly put on Bloomberg WHILE I was holding on to losers): in a bear market you run out of money LONG before you run out of ideas!!! LOL!!!

and

YouTube - Trader Goes Nuts Office Stress

Anyway: enjoy. I’m not going to post any more i.e. I don’t think I’m supposed to be pasting linke to YouTube let’s be honest!!! But: take these links as a bit of ‘R & R’!!! LOL!!!

10

“the market is a wh***. it’s out to f*** as many people as it can, that’s its job.”

hahaha, total respect for actually putting that in their movie!
i’m gonna remember that one every trade I take :smiley:

11

Hello old friend,

Yep: I nearly spilled my coffee when I heard that!!! LOL!!!

Regards,

Dale.

12

There is a good series on all aspects of the markets Daytraders,Fund managers,Hedgefunds,brokers,Pit traders.The show is called Wallstreet Warriors you can get it at Hulu.com.They shot 3 seasons but only 2 seasons were picked up by the cable networks.Kathy Lien and Boris of fx are in it hiring a lady just out of college and teaching her how to trade forex.Interesting when this lady tried a daytrading company what the partners said to her about daytrading, people just give up before they get it.(she gave up!)Watching the fund manager invest in a horse ranch was enlighting.Thanks for showing this video (Floored) Dale.

13

Awesome, I’ll put this on my “To Watch” list.

14

Thanks for posting
"Replay Media Catcher", I used the demo version, downloads the different sections from babelgum.:slight_smile:

15

Hey,

Thanks a lot for that. I’ve been wanting to watch it again (and again) but it CHEWS bandwidth (and I’m not prepared to part with $15 or so for only three screenings i.e. I’d rather pay the $25.00 or so for the DVD when it’s out)!!! Thanks again. I’ll ‘give it a bash’ (although it’ll be the SECOND time I’m doing this i.e. I’ve already downloaded the ‘PUMit’ file THINKING that it was not possible to encrypt video files i.e. video etc. used to be a BIG hobby of mine but, it would appear, there is new technology that can do this which, I might add, for the right application, is very good by the looks of things)!!!

Regards,

Dale.

16

I just let it run till the end. Reply records in demo 100% for youtube files and 75% for the rest.
Each section was between 10 and 48MB as flv extension.
If you have any trouble I can upload to a free server and then you can download from there.:slight_smile:

17

Cool flicks.

18

Hey ninety9,

I want to watch it again (no I don’t have a life outside of market hours and I’m ‘bored to tears’ and I no longer have any ‘tweaking’ to do to my trading systems) and I was thinking of trying out that software that you suggested. Well: I’ve download and installed it and it works perfectly BUT I want to be sure (from you) before I waste bandwidth (I’ve gone through 10GB this month ALREADY thanks to YouTube and the like and I have to buy it in 5GB increments): does that software download / record each episode in its ENTIRETY or does it discard the last 25% of each episode???

Regards,

Dale.

19

Oh this is just MARVELLOUS!!!

Letseethepips:

I wanted to watch that series too but guess what: Hulu wont allow streaming outside of the USA!!! I managed to watch and into on YouTube and it looks EXCELLENT!!! Any ideas??? LOL!!!

Regards,

Dale.

Edit: alright it’s available from Amazon on DVD (the first two seasons) so I guess I’ll have to wait. It ain’t cheap and I know from past and bitter experience that Amazon’s shipping charges to South Africa are ‘criminal’!!! LOL!!!

Another edit: oh this is too much i.e. IF you lived in the USA you could simply pay to watch both seasons streamed from Amazon (much cheaper than the DVD’s) but Amazon will also not allow streaming outside of the USA. BUT I CAN BUY THE DVD’S!!! NO PROBLEM THERE!!! LOL!!!

20

Hey, Dale

Sorry to hear about your missing life. You really need to get out more, my friend.

If I understand your current dilemma, you’re trying to access the 16 episodes of “Wall Street Warriors” which HULU archived.
Is that right, or did I misread your recent post?

I’ve watched this series several times, and have it bookmarked. The bookmark URL is:

Wall Street Warriors - Full Episodes and Clips streaming online for free - Hulu

Is that the page which is denying you access?

Try this. This is a link to Season 1, Episode 1 — Hulu - Wall Street Warriors: Capitalism Rules - Watch the full episode now.

If that link works for you, it will be a simple matter to post the URL’s for all 16 episodes here on the forum.

If none of that works, maybe some of our techie members can figure out a way to snag and upload these videos, one at a time.