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Million Dollar Traders-A series on BBC2,Monday at 21:00     

banjomick - 12 Jan 2009 22:53

Eight ordinary people are given a million dollars, a fortnight of intensive training and two months to run their own hedge fund. Can they make a killing?

The experiment reveals the inner workings of a City trading floor. The money is supplied by hedge fund manager Lex van Dam: he wants to see if ordinary people can beat the professionals, and he expects a return on his investment too. Yet no-one foresees the financial crisis that lies ahead.

The traders were selected in spring 2008, before the US credit crisis gathered pace. The successful candidates were chosen, trained and dispatched to their specially created trading room in the heart of the Square Mile. Among them are an environmentalist, a soldier, a boxing promoter, an entrepreneur, a retired IT consultant, a vet, a student and a shopkeeper.

As the novices learn the dark art of trading stocks and shares, the financial markets start to buckle. Making money takes second place to basic survival as the brutal realities of global economics take their toll on the traders. How do they cope? Will they secure themselves a bonus, or walk away with nothing?

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

Now see the unseen City-4 January 2009

Lex Van Dam and his million dollar TV gamble-07 Jan 2009

Ruth - 13 Jan 2009 11:47 - 2 of 114

Just had a quick peep. im going to sky+ it,
looks very interesting,
see one of the women is already crying ,;-(
they all shorted citi just before results and they came in better than expected and gave the group a slapping,
The guy training them , said naked shorting is for "idiots"

MightyMicro - 13 Jan 2009 11:55 - 3 of 114

I thought it was a great insight into the psychology of trading. The environmentalist guy didn't think shorting was moral -- until he was presented with a red screen and under orders to trade to make money.

I thought they were a bit unkind to the older guy who got his buys and sells reversed -- none of us have never pressed the wrong button, oh no.

Talking of buttons, they were having to place all orders by phone, which took some of the immediacy out of it but made better television, I guess.

hilary - 13 Jan 2009 12:01 - 4 of 114

The old codger was sfb, DelBoy, no doubt about it. I'm sure they only picked him to make good viewing because there's no way whatsoever he'd have passed any normal interview.

MightyMicro - 13 Jan 2009 12:58 - 5 of 114

Hil: You're right, of course, he was all at sea. He'll be first to expelled from the Trading floor. I just hope I'm not that slow when I'm 63 :)

Falcothou - 13 Jan 2009 13:01 - 6 of 114

Good link, they would be laughing if they reversed all their trades, sounds familiar, will no doubt get really interesting when they start delving into currencies and commods. should see Van Dan going really ape then!

RogerD - 13 Jan 2009 13:14 - 7 of 114

Got 3 kid's still at home. They say" sitting in front of a computer screen all day, piece of pi**". Was great to see their reactions last night LOL

Richgit69 - 13 Jan 2009 15:24 - 8 of 114

Watched it last night, it is silly because its not there money, and so dont really care if they lose it, if it was there own then they would take it more seriously

MightyMicro - 13 Jan 2009 15:36 - 9 of 114

Richgit: That's what you would have thought, but they acted like it was their money and seemed real 'rabbit-in-the-headlights' when it came to both placing trades and the size of them.

Time Traveller - 13 Jan 2009 15:57 - 10 of 114

MM, that's because they were "real people" with a perceived responsibility not to lose the money they have been given to trade. Unlike an investment manager who trades to make his performance look good or at least better than the index and to h*ll with what the losses are!

TheVoid - 13 Jan 2009 16:07 - 11 of 114

Fascinating program - Big Brother with monopoly money - do they get booted off one by one ? I suspect that Lex Van Dam is heding his money by trading the opposite of what the sacrifical novices are trading - he is a hedge fund guru after all, I can't think he is going to let a bunch of gamblers loose with his dosh without making sure he breaks even at the end of it all. Fascinating nevertheless to see the way people react - loved the guy eating his cornflakes while LEX's money was going down the pan !

Ruth - 13 Jan 2009 16:16 - 12 of 114

The woman who was crying, how long will she last?
not looking good for us girly traders ;-)

hilary - 13 Jan 2009 16:22 - 13 of 114

That just stemmed from a fear of losing, Ruthie, and is only natural. So long as she can conquer that fear, I think she'll do OK. I'm sure that Lex's sidekick will give her the encouragement she clearly needs.

It's the geriatric who I think will prove impossible to train. He seems too set in his ways.

Ruth - 13 Jan 2009 16:33 - 14 of 114

Hils re the geriatric, any ideas or suggestions for a nickname for a geriatric set in his ways;-)
I hope the woman pulls through, going to be really interesting to see how she progresses,

hilary - 13 Jan 2009 16:37 - 15 of 114

Oh I've got several that spring to mind, Ruthie.

:o)

Ruth - 13 Jan 2009 16:42 - 16 of 114

Hils. ;-)

Falcothou - 13 Jan 2009 21:17 - 17 of 114

Surprising they are placing trades on the horn rather than electronically must make better telly and fewer fat fingers!

banjomick - 13 Jan 2009 22:43 - 18 of 114

I found the program very interesting and was worn out just looking at the stress volumes generated-lol

'The novices' had two weeks of training before making any trades and I'm sure they swotted up on the subject months before actually entering and being accepted,well,most of them!

Also what is and will be interesting is the timeframe which the program was filmed,I'm sure many will watch there own gains/losses being played out as the series progress.

partridge - 14 Jan 2009 08:25 - 19 of 114

As a bus pass holder, feel you girls are being a bit hard on the "geriatric", although he did make me cringe. Pity they could not find a better representative for the older and wiser generation. If I recall correctly, he did make the first trade of any of them, even if it was a dog!

kuzemko - 14 Jan 2009 08:26 - 20 of 114

i want to be on it if there is a follow up!!!

TheVoid - 14 Jan 2009 11:19 - 21 of 114

Strange how your perception of age changes as you get older - I used to think 50 was old

I've set up a blog dealing with the Million Dollar Traders to see how they get on over the 8 weeks

Million Dollar Traders

Ruth - 15 Jan 2009 09:35 - 22 of 114

TheVoid, interesting , thanks, will be watching it with interest.

Seymour Clearly - 15 Jan 2009 10:45 - 23 of 114

Watched this last night. He's given them $1m = 600k. Using CFD's, margin of 10x, that means he's risking 60k of his own money. Cheap way to fame! I noticed one of the positions was automatically stopped out, so most likely is CFDs.

Also the phone chat between them is so contrived, he's getting upset about 2k???

TheVoid - 16 Jan 2009 03:33 - 24 of 114

Yes, the amounts lost seemed small to me too - 200 ! I use that in toilet paper on a bad day.

Plus, I'm convinced he's hedging against all the losses, he would be nuts not to.

Ruth I will try and update the blog regularly, hopefully when the show really gets going there will be more to say.

Kyoto - 16 Jan 2009 07:45 - 25 of 114

hopefully when the show really gets going there will be more to say

There are only two more episodes so I doubt it's really going to 'get going' in the way that 'The Apprentice' does when it runs for twelve weeks.

ValueMax - 16 Jan 2009 08:38 - 26 of 114

Good show. I get the impression that the winner will be by luck rather than judgement.

I really liked Evan Davis' programme about banking a couple of evenings ago. I think it's a series rather than a one-off, so looking forward to the next one.

TheVoid - 16 Jan 2009 11:18 - 27 of 114

I thought there were 8 shows. Seems like I should pay more attention !

KEAYDIAN - 16 Jan 2009 13:55 - 28 of 114

Watching it now on IPLAYER

Ruth - 18 Jan 2009 13:32 - 29 of 114

TheVoid, thanks, looking forward to this weeks show,
They couldnt have picked a more volatile time to film it could they.right in the middle of the banking crisis, poor buggers,its hard enough at the best of times,
never mind 200 point swings in the dow in 5 mins;-)

Falcothou - 18 Jan 2009 17:24 - 30 of 114

Quite a harsh introduction... in at 6am assessing news/ creating strategies and then stuck in front of blinking numbers til the close, no wonder they freeze/ trade like headless chickens. They should work like real hedgies quaffing champers in Curzon street for a liquid lunch, may be that comes later in the series!

MightyMicro - 18 Jan 2009 20:08 - 31 of 114

Ruthie: never mind 200 point swings in the dow in 5 mins

I don't think this lot could get on the phone to trade in less than ten minutes by the look of it.

Kayak - 18 Jan 2009 20:10 - 32 of 114

I wonder if the trades actually go to the market? That would seem to me the other good reason for using the telephone. The broker at the other end just enters a dummy trade.

MightyMicro - 18 Jan 2009 20:14 - 33 of 114

K: I hadn't thought of that -- I bet you're right.

Self19 - 18 Jan 2009 20:29 - 34 of 114

good point kayak...most probably dummy trades...and why is Lex getting so upset over 2k? It's all for dramatic effect 'cos we all know real trading is very boring if your doing it right. Poor sods have a couple weeks to learn what it took me almost 2 years...thought the Major's pair trade was a decent punt for a novice.

banjomick - 18 Jan 2009 21:00 - 35 of 114

Just had a quick Google and not sure if this is correct or not:

Posted by reactor on 01-16-09 05:02 PM:

They are phoning up a real broker "Mint" based in Cannon Street. Similar setup as ICAP but on a smaller scale.

http://www.elitetrader.com/vb/printthread.php?threadid=150540

They still could be dummy trades of course......................

banjomick - 18 Jan 2009 21:19 - 36 of 114

A little bit more research brought up this about the making of the series:

"Meanwhile, the complex business of setting up a hedge fund and meeting the requirements of the Financial Services Authority got underway."

http://www.broadcastnow.co.uk/technology/onlocation/2009/01/on_location_how_to_cut_it_on_the_trading_floor.html

PlanB - 18 Jan 2009 22:01 - 37 of 114

"Oh, and the ending came as a total surprise to us all.so watch this space."

.. from banjomick's link above.

I think Kayak's on the money here (no real trades being made). Eventual relief for the "traders" I suspect.

Kayak - 18 Jan 2009 22:17 - 38 of 114

Though it's not obvious why you would need FSA approval if you're just running an investment game... or a lot of legal fees...

MightyMicro - 18 Jan 2009 22:33 - 39 of 114

K: They probably took legal advice ;-)

Scripophilist - 19 Jan 2009 12:24 - 40 of 114

Why don't they do what most traders do and click a mouse to scalp a few ticks here and there. The sort of "trading" they do belongs to the 1980's doesn't it?

Kayak - 19 Jan 2009 12:45 - 41 of 114

That would have been very boring for the cameras. Real stocks gives a lot more scope for interesting stories.

hilary - 19 Jan 2009 12:53 - 42 of 114

I couldn't tell for sure from the edit, but weren't they given a crash course in TA before being let loose with any money? I also couldn't tell for sure when it was actually filmed, but I'm guessing late last summer because they were in shirt sleeves.

Given that the markets had been in general decline for some time, I can't work out why they didn't just short anything that moved because the trend would've been their friend (especially as they weren't scalping). I think you've maybe got to question the teachers and the subject material on their TA course.

Spaceman - 19 Jan 2009 21:11 - 43 of 114

I didnt see the first one but watching episode 2 it seems crap. Saying things like with 10% plus moves each days its difficult to make money and that buying cadburies is sensible because people like chocolate sounds crap.

I agree with scrip above they seem like 80s traders.

Spaceman - 19 Jan 2009 21:12 - 44 of 114

Simon (the older guy) seems to be a bit of a prat.

Does anyone recognise what software they are using?

Spaceman - 19 Jan 2009 21:19 - 45 of 114

They all seem to be just guessing, I havnt seen any tech trading at all, dont think i can watch much more of this.

banjomick - 19 Jan 2009 22:13 - 46 of 114

Evening Spaceman,

It's only a TV program after all and based over a two month trading time frame squashed into three episodes of one hour each! It's meant to be viewed as an insight into the system with a bit of TV drama to keep you watching or not,as the case may be.

Velocity - 19 Jan 2009 22:55 - 47 of 114

Maybe I'm alone in this but I absolutely LOVE this programme! The difference between the punters and the pro's is just ridiculous but what great telly it makes! Like Hilary, I'm astonished that this lot didn't have the nowse to go net short property/financials/construction or pretty much anything that moved given that this is a bear market and the market was/is collapsing all around them. They did get technical training on charts but in fairness it takes more than a couple of weeks to get your head round them - I think you'd need more of boot camp type of operation for chart traders.

MightyMicro - 20 Jan 2009 00:06 - 48 of 114

Boys and girls, let's be fair, these are rookies, this is a staged TV "reality" show, they've been set up to look crap, and we're looking at last year's market with 20/20 hindsight. But it was a bit 1980s. I was just waiting for somebody to pick up a phone and shout "Sell pork bellies". ;-)

NickB - 20 Jan 2009 00:17 - 49 of 114

'this is a staged TV "reality" show, they've been set up to look crap'

Thats not true, it is not a reality show it is in fact an observational documentary.

Piptrader - 20 Jan 2009 00:18 - 50 of 114

The series was filmed in July and August, and given that (looking at the market as a whole) the FTSE went UP from approx 5151 on 15 Jul to 5628 on 29 Aug, it's not in the least surprising that they were busily buying shares rather than selling. So were an awful lot of other people.

And had they been selling, that rally could easily have caused them to be stopped out anyway.

MightyMicro - 20 Jan 2009 00:25 - 51 of 114

NickB: I bow to your superior knowledge. BTW, documentary has an 'n' in it, innit? :-)

NickB - 20 Jan 2009 00:49 - 52 of 114

Thanks have corrected.

I know some of the people involved in making that prog, they are film-makers and are a long way away from the 'reality tv' producers mindset.

The show is aimed at a mass audience, not other traders, other traders need a film made for them.

MightyMicro - 20 Jan 2009 01:46 - 53 of 114

NickB: I guessed you might be on the media inside -- it would be really interesting to hear more, if you're free to share.

What the show does really well is expose the psychology needed for trading and how well, or otherwise, the participants match that. It also helps demolish the myth that trading is easy.

It's still staged in the sense that button-pushing on a trading terminal would make lousy television, hence the format.

I still enjoyed it! Sell pork bellies! :-)

Falcothou - 20 Jan 2009 07:55 - 54 of 114

A study in emotional turmoil and facial expressions associated with. It seems those that did well used the competitive advantage of trading equites that they have a special knowledge/interest in whilst those that lost, shot at anything that jumped out of the trees just as it turned or spiked.They must be trading cfds as Lex could then offset the losses though evidently not with DMA as they are on the horn and not meddling in the auctions. The Mrs found it boring but then she will watch Trinny and Susannah/Dancing on Ice til the cows come home. The budget does seem a bit low as they hardly leave the room or do any crazy music or intro shot of Rollers as in the Apprentice. Quite nostalgic seeing those stories breaking again!

hilary - 20 Jan 2009 08:19 - 55 of 114

I'm actually quite disappointed in it. The chances of any of the viewing public learning anything from it are next to zero and it seems to be little more than an opportunity for Lex van Dam to raise his profile.

I'm also unsure exactly what his sidekick (Is his name Anton? I bet his real name is Tony.) is doing there. Having taken Chloe aside last week, she clearly needed more of his time this week. He needed to sit down next to her and force her to pick up the phone and make some trades. As things stand he's there as a mere observer who can identify problems but doesn't do anything to address them. What use is that when these guys are mere rookies?

Ruth - 20 Jan 2009 08:45 - 56 of 114

I was dissapointed with last nights show, it just never really got going did it,
its all far too laid back for me, and i dont particularly like the guy whos in charge of them all either,
I think it would make for far better dramatics if it showed more charts and the prices actually moving in real time,like when the woman shorted xta and it immediately shot up, they simply showed a chart after the fact, would have been far more interesting for viewers to capture it in real time,
I understand its aimed at the mass market, but to be honest i found yesterdays show a bit dull,
the old chap, bless him,he was out on a limb,
i quiet like the skinhead lad, and great to see a woman is the front runner so far,;-)

ThePublisher - 20 Jan 2009 14:32 - 57 of 114

I've got both shows on TiVo but not found a time when Mrs TP has other plans - as I am sure it would drive her to a proverbial early bath..

However, on the matter of trading, I remember hearing an anecdote a few years ago about a guy who trained total novices to trade using TA. Just general market trading such as currency, commodities, etc. I think he trained them for about a week and then let them loose (I nearly typoed lose!!).

All he wanted was simple folk who could follow his rules. None of this business of overlaying the decisions by influences of history, news, sentiment, etc. The story was that, as long as they followed the rules, it worked. Where they went wrong was improving or modifying the rules - or not following them in the first place.

A bit like the mechanical trading that you folk were watching in that thread that was running a couple of months ago - but I guess that the people I was talking about were operating before the time that fully computerised buying and selling was possible.

TP

Kyoto - 22 Jan 2009 12:59 - 58 of 114

Anton Kreil: The biography

jeffmack - 26 Jan 2009 16:00 - 59 of 114

Final part tomorrow

27 Jan 2009
21:0022:00
BBC Two
3/3. By the final close of trading just three traders are left, but will they make a profit?

hangon - 26 Jan 2009 17:41 - 60 of 114

The earlier episodes were hardly interesting, or informative...it's a programme that appears to have no purpose other than to reduce the number of Repeats on BBC.
I guess they thought it would be like "the Apprentice" - or- property-ladder combined...but it's way off the mark IMHO.
Furhtermore I think you can see the fundamental flaw right from the start - why is the UK stockmarket being Traded in Dollars? (=the title)....
I may tape this episode and wait for others (here) to tell me...

Seymour Clearly - 26 Jan 2009 17:58 - 61 of 114

Cos at the time a million dollars sounded bigger than 60k in CFDs.

Or am I being cynical?

MightyMicro - 26 Jan 2009 20:10 - 62 of 114

Just looked at his site. Anton, The Brand. Pass the sick bucket, Alice.

Dil - 26 Jan 2009 20:56 - 63 of 114

It aint on my tele listings , they moved it ?

banjomick - 26 Jan 2009 21:30 - 64 of 114

Dil,it's on tomorrow.

Dil - 26 Jan 2009 22:15 - 65 of 114

That explains it then :-)

Cheers banjo.

banjomick - 26 Jan 2009 22:22 - 66 of 114

lol,no problem.

Seymour Clearly - 27 Jan 2009 23:13 - 67 of 114

Just watching last week's show, it showed Amit shorting WOS, the commentary saying it was falling fast, and showing the screen with WOS +19. The continuity person doesn't understand trading methinks!

skinny - 28 Jan 2009 07:07 - 68 of 114

What a dreadful last programme infact what a dreadful series!

Clubman3509 - 28 Jan 2009 07:41 - 69 of 114

I bet the Scouser would not have thown his dummy out of the pram if it was his money. Well back to the day job nicking car wheels.

hilary - 28 Jan 2009 07:42 - 70 of 114

Well I thought that things in general made a bit more sense in last night's show and Lex and Anton (I still reckon his real name's Tony) came across in a better light. I think it was a good idea but the execution in general was cr@p and I think that responsibility probably lays with the film producer. He could have done a much better job imo.

Kyoto - 28 Jan 2009 07:46 - 71 of 114

But the sight of Lex and Anton, these two 'ruthless' traders, squirming in their office wondering how to fire the frequent cryer without the Scouser coming in and flooring them, was one of the funniest things I've seen on television in a long time.

Isaacs - 28 Jan 2009 08:15 - 72 of 114

Seymour - perhaps WOS was +100 +80 +60 +40 +19. That would count as falling fast.

Falcothou - 28 Jan 2009 08:37 - 73 of 114

Didn't really make you want to work in a hedge fund, staring at screen 16 hours/ day putting in the face time in a sterile goldfish bowl, cold heartless bosses and making no money. Not sure if the comparison was appropiate to hedge fund performance as their losses were also probably a lot to do with liquidating positions due to increased margin requirements and redemptions though there was a fair bit of distressed selling going on in this office. I expect they shot a lot more footage than is shown and the producers decide to drag out the emotional card a bit long. I couldn't wait for them to get sacked but when they were there wasn't anything to watch except for the cats that got the cream!

Seymour Clearly - 28 Jan 2009 08:56 - 74 of 114

True Isaacs, but he already had his hands in his head with a position when it showed that.

Isaacs - 28 Jan 2009 09:01 - 75 of 114

Ok fair enough. Can see I haven't watched it.

ThePublisher - 28 Jan 2009 09:42 - 76 of 114

NickB

"I know some of the people involved in making that prog, they are film-makers and are a long way away from the 'reality tv' producers mindset."

Any final comments? I used to work for LWT, inevitably many years ago, and am always interested in what goes into making a programme. My sadness is based on the conviction that today's programme makers underestimate the intelligence of the average viewer - but maybe they don't (!)

TP

Ruth - 28 Jan 2009 10:03 - 77 of 114

All in all a bit dull,
it could have made for such gripping exciting tv, but instead it was a damp squid,

As previously mentioned i liked the scouse lad, and although i think he was a bit soft walking out in support of that mard arse woman who kept crying, i did like his morals and principles about talking to people with respect etc,

The 2 guys that run it,Lex and Anton, were arrogant i thought , especially Anton,
but agree with Kyoto , they soon lost that big time charlie attitude when they were squirming on how to fire the cryer without upsetting the scouser fella,
was the best bit of all the footage shown.





Scripophilist - 28 Jan 2009 15:34 - 78 of 114

Send him a note, he will probably answer as he doesn't appear to trade any more.

http://www.antonkreil.com/

Time Traveller - 28 Jan 2009 15:44 - 79 of 114

It was a very poor series. The last prog was just too long winded and full of waffle. I agree with what someone else said earlier in the thread that you needed to see one of the "Traders" sitting in front of a screen with an open position watching the price go up or down and see their reactions. we only got glimpses of screens and chatter.
Poor - they could have made a lot out of it.
Bring back the yuppie dramas of yesteryear. Can't even remember what it was called but it was more fun than what we have seen over the last 3 episodes.
TT

skinny - 28 Jan 2009 15:57 - 80 of 114

Show me the money!

MightyMicro - 28 Jan 2009 16:04 - 81 of 114

I think everybody could have benefited more from a web cam in Ruth's garage ;-)

Clubman3509 - 28 Jan 2009 17:01 - 82 of 114

As Ruth posted it could have been a great show but it appears they did not realise what a blockbuster they could have had.

Ruth - 28 Jan 2009 18:32 - 83 of 114

MM, youde all laugh at my pjamas;-) there would be more bleeps in it than gordon ramseys kitchen nightmares,and would give all my internet surfing content secrets away.

In all seriousness,i agree with Clubman, it could have and should have been great viewing,and the worst of it is alot of my friends watched it too as ide told them it would be great to see the challenges us traders have to sometimes endure , and now they all think i just sit on my arse all day having brews and little chit chats round the table, and generally dont do much, when of course the life of a trader is really far more complex than that;-)

ExecLine - 28 Jan 2009 18:53 - 84 of 114

Last night I caught a trailer preview for 'The City Uncovered with Evan Davis', which is on BBC2 tonight, Wednesday, at 9pm, and saw 'Clem from across the road' featured in it.

Kayak - 29 Jan 2009 01:25 - 85 of 114

Two major problems with the series. Firstly as others have said much more should have been made of the charts rather than the traders. I guess the problem here is that they didn't think of it before shooting began and so didn't have direct recording of the live charts independently of whatever was displayed on the trader's terminal. Also, that would have been a lot of recording channels open at any one time (unless they developed a way to simulate a live chart from an intraday chart taken at the close).

Secondly the two "tough" guys Lex and Anton could win a national contest for unexpressive faces. Lex was asked to be Alan Sugar and it just didn't sit. His people skills were non-existent and even Anton had to step in on occasion. You really needed an AS type to create the pressure. All they could do is bemoan the laid-back style of the trading room but hey, the pressure has to come from the top.

Just a thought on why the geriatric Simon might have been recruited: the maths question in the interviews was, what is 32 x 32? Now there is one class of individuals who would instantly know the answer, and that is computer programmers elderly enough to have dabbled in assembly language (like Simon and me) to whom it is patently obvious that 25 x 25 = 210 or 1024 :-)

Simon's firing/resignation is an example of how it could have been done much, much, better. It would have been great at least to see a one-minute summary of all his trades speeded up to show them going the wrong way. As it was, we really didn't have much more than a vague feeling that he'd been wasted 'cos he done bad.

MightyMicro - 29 Jan 2009 08:56 - 86 of 114

computer programmers elderly enough to have dabbled in assembly language
Oi, Kayak, less of the elderly :-)

skinny - 29 Jan 2009 08:57 - 87 of 114

Yes - bring on the chads :-)

ThePublisher - 29 Jan 2009 09:10 - 88 of 114

"Firstly as others have said much more should have been made of the charts rather than the traders. I guess the problem here is that they didn't think of it before shooting began and so didn't have direct recording of the live charts independently of whatever was displayed on the trader's terminal. Also, that would have been a lot of recording channels open at any one time (unless they developed a way to simulate a live chart from an intraday chart taken at the close)."

I don't understand the problem here. I've never day traded but one of the more interesting days of my life was on a course given by Bully, Croc and Limpy. Croc traded live in front of us using level two and graphs. We saw the ones he got right and the ones he got wrong. We saw him move the market and bots on level two and it was fascinating.

I cannot see why this could not have been captured on camera. We seem to have been using the word 'filmed' but my understanding these days is that everything is captured on tape in cameras - and then made to look like film electronically.

TP

Kayak - 29 Jan 2009 09:40 - 89 of 114

Yes but with every trader having multiple positions that's a lot of cameras... and the trader himself wouldn't want to be stuck on a single screen.

Ruth - 29 Jan 2009 10:15 - 90 of 114

Kayak, they could have used esignals replay facility if they had done a bit of research,no need for multiple cameras,could have added all the actual chart footage later when editing,
I can pull up any chart, from any day and then play it back as it actually appeared live, bar by bar, i can even set the speed at which i want each bar playing back,

Kayak - 29 Jan 2009 10:17 - 91 of 114

OK didn't know that. They had Bloomberg terminals (and empty Bisley cabinets), logos very much in evidence.

ThePublisher - 29 Jan 2009 10:19 - 92 of 114

Kayak,

Agreed. But as much of the thing is faked anyway (OK edited then!) I would have thought it would be a more impressive scenario.

Anyone can film someone throwing a phone on to the floor or being slagged off by his boss - but seeing Croc trick a bot using a laptop and broadband was fascinating. And then trying to second guess the pressures actually behind the stacked orders on level two is real Sherlock Holmes stuff if explained properly.

TP

Ruth - 29 Jan 2009 10:20 - 93 of 114

Kayak, yes noticed the bloomberg terminals,they arent cheap to run are they,must have cost a fair few quid as they all seemed to have one.

Isaacs - 29 Jan 2009 10:25 - 94 of 114

ThePublisher - but they were meant to be running a mini-hedge fund not scalping ticks day trading.

MightyMicro - 29 Jan 2009 10:51 - 95 of 114

Ruthie: Don't worry, they didn't pay for the Bloomers terminals -- Bloomberg got a big fat credit in the titles. So just the exchange fees then (maybe Bloomers subbed them that too).

Ruth - 29 Jan 2009 11:03 - 96 of 114

MM;-)
Isaacs,agree but still the charts could have built up a bit of excitement,showing the rapid moves on their positions and how they had to deal with it, stop losses etc,or even better viewing the rabbit in the headlights senario;-)

rawdm999 - 29 Jan 2009 11:07 - 97 of 114

'rabbit in the headlights senario'

The single mums face when she was told to trade with 200K was a picture.

Spaceman - 29 Jan 2009 11:28 - 98 of 114

I only saw 2 episodes but I thought it was terrible.

Clubman3509 - 29 Jan 2009 11:34 - 99 of 114

Wait until the new series starts. Celebrity traders, that will be a good laugh.

Post your celebrity Traders that you think would be good for the series

Kayak - 29 Jan 2009 11:37 - 100 of 114

Ruth

Clubman3509 - 29 Jan 2009 11:46 - 101 of 114

Jorden AKA (Katie Price) for me

Spaceman - 29 Jan 2009 11:47 - 102 of 114

Is it going to be Naked celebrity Traders?

MightyMicro - 29 Jan 2009 11:49 - 103 of 114

This is getting better by the minute . . .

Kayak - 29 Jan 2009 11:50 - 104 of 114

OK naked it is. Are Ruth, Chocolat and Hilary enough for a whole series?

PlanB - 29 Jan 2009 11:51 - 105 of 114

Boris Johnson (but not naked!)

I want to see the end of the 3rd program again .. those percentages seemed a bit iffy after all the bad trading from the 5 that dropped out.

Ruth - 29 Jan 2009 12:07 - 106 of 114

David Beckham, that would make good viewing, as long as he dropped that newly aquired crappy italian accent,;-)

How about Darren winters or greg sekler , that could be really entertaining, or what about the fired rbs boss, fred the shred,and maybe the ex northern rock boss to hold his hand through the rough moments,

But surely the most entertaining would be the clueless clown himself Gordon brown ?
he could always just a bung a few more quid in his trading account if it went tits up via a taxpayer bailout scheme;-)

Clubman3509 - 29 Jan 2009 12:12 - 107 of 114

What about a gay version Elton John, Lord Mandy Mandleson, Sir Cliff Richard, David Walliams, Boy Gearge (He should be out soon) Ellen Degeneres,
Geaorge Micheal, Graham Norton, Sam Fox.

MightyMicro - 29 Jan 2009 13:50 - 108 of 114

Clubman: I can just see it -- Dale Winton -- sell 5,000 XTA -- do you want me to take that as your final answer (simper, simper) . . .

Strawbs - 29 Jan 2009 14:18 - 109 of 114

You could also have Noel Edmunds as celebrity broker....

Deal .... or no Deal ....

Strawbs

Who hasn't actually watched the programme.... but probably hasn't missed much by the sounds of it either....

ThePublisher - 29 Jan 2009 14:41 - 110 of 114

"Who hasn't actually watched the programme.... but probably hasn't missed much by the sounds of it either...."

Moi aussi,

But in that great old phrase 'Let us not get opinion too clouded by fact'.

TP

TheVoid - 29 Jan 2009 17:31 - 111 of 114

Well if we are dreaming I'd like to have a go with somebody else's money.

Here's episode 3 and some potted thoughts

Million Dollar Traders

Velocity - 01 Feb 2009 15:03 - 112 of 114

I guess it depends what you were expecting to get out of the series. Personally I thought it was a fascinating and realistic look at the pressures of being a trader, and the intensely difficult journey that proves far too difficult for the majority to endure (myself included). Interestingly, even the 'winning' traders chose not the pursue a career in the city even though Lex could probably have got the top 3 traders sorted. I thought it made for an interesting experiment, don't think it was ever supposed to about about charts vs fundy's, more about how the individuals coped with the stress, what's involved, how they go about their business, and what it takes to be profitable.

banjomick - 01 Feb 2009 22:00 - 113 of 114

Velocity,

That just about summed up my views on the series.You never know there may be a new 12 part series after popular demand with an extra show on BBC3 analysing each persons portfolio but I wouldn't hold yer breath! :-)

Joe Say - 02 Feb 2009 07:32 - 114 of 114

If there is another series, I'd love to put my name down for a part. Hopefully, would do slightly better than saga.com. and if I didn't it would be the best wake up call ever.
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