"What it takes to be successful at this isn't a roll of the dice, a play of the lottery and hopes to be twice as rich. You constantly research, constantly work hard, constantly work out all of the things that could possibly go wrong, hedge against it and then still have to hope for the best"
Does what every good trader should? Only bad traders let losing positions run against them. A good trader cut's his losing positions early and let's the winners run. He is hoping for a rally when he should be fearing if there isan't one. He is avoiding taking the early pain and making the decision now to cut his losses only to take more pain later and a much bigger probable loss.
Point to be taken: It don't mean shit if you're a guy with no skills, or a grade-A mathematics student, the market doesn't give a shit. You either can make money or you can't.
that black guy is very typical of most "amateur" traders; after he gets some cake and walks back to the desk, and sees his position has taken some loss, he says... "...hong kong bank let me down, india let me down, gordon brown let me down, etc. etc..." son, thee only person that let you down is YOU!
@cooksecurities well said - he's atually a good trader - but he fights himself mentally rather than just getting in there and placing a trade - he's also trying to look for that "magical" trade that comes around every now and then,
@hansgla I was thinking that - nobody as shrewd as Lex with 1 million would simply give it away for the sake of a documentary. He must have received circa 25K for the documentary. Probably started as an idea at the BBC - then went to a researcher - and then they approach a head trader with the idea - and thats how it works.
Trade ethically????? Hope theres loadsa traders out there willing to flushe their money down the bog into my pockets. The markets have no room for poncy treehuggers.
So these guys/gals cant use options? What a waste! Really, great hedge funds do not limit themselves to one type of asset or instrument. Yes, I know these are beginners, but damn they should have at least teached them how to buy/sell options as a hedging strategy.
@dhrdan lol that's funny dude...very true. his distant cousin got arrested last month for those rogue trades done at UBS' expense. However, i do NOT agree with the "work hard' part. I must've taken too much Gordon Gekko lines to heart.
do what a good trader should do and hang on to a loss thats increasing? lol wtf what kind of "good" trader is he talking about? one that specializes in margin calls?
The narrator obviously does not know what he is talking about. You have to set yourself a stop-loss. You can't ignore a share while it falls. You sell at that price and take a loss and move on based on your risk management. Sure it could rise up again but thats a risk you have to take.
@Zyphon400 okay so the fact that you're in a losing position likely means the market is trending against you, so the more you ignore it, the bigger the loss becomes...
better to close while the loss is still relatively small and manageable, sure sometimes the market will come back in your direction, if so just re-enter and you can probably do it a better price, but you only need it to continue against you just one time, once turning into a catastrophic loss and bingo, margin call...
@couer1911 aw ffs, read the context of my original comment, it's what the narrator said... get your facts straight before you come accusing me of not knowing what i'm talking about...
"What it takes to be successful at this isn't a roll of the dice, a play of the lottery and hopes to be twice as rich. You constantly research, constantly work hard, constantly work out all of the things that could possibly go wrong, hedge against it and then still have to hope for the best"
Super4la 1 week ago
i seriously believe the old guy is gay but he doesnt know yet...
ollivermilton 1 week ago
Does what every good trader should? Only bad traders let losing positions run against them. A good trader cut's his losing positions early and let's the winners run. He is hoping for a rally when he should be fearing if there isan't one. He is avoiding taking the early pain and making the decision now to cut his losses only to take more pain later and a much bigger probable loss.
vendor72 3 weeks ago
@vendor72
He's an amateur trader. Give the guy a break.
Rawrlor 2 weeks ago
Are they doing day trading or taking longer positions (exiting their position after a few days or weeks)?
richerbythesecond 1 month ago
I just want to jump in that room and tell them to short /es 1000 contracts
Jessemfguire 1 month ago 2
the cake is a lie!!!!!!!!!!!!
mdnoorfairouz 1 month ago
"one man's terrorist is another man's freedom fighter"
RasOye 1 month ago 3
This has been flagged as spam show
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forextutorialscouk 1 month ago
AAPL @ 166.73 5:24 Good buy
emac1507 1 month ago 2
lol i hate that old prick
RSwetimas 2 months ago
Point to be taken: It don't mean shit if you're a guy with no skills, or a grade-A mathematics student, the market doesn't give a shit. You either can make money or you can't.
zdrux 2 months ago
that black guy is very typical of most "amateur" traders; after he gets some cake and walks back to the desk, and sees his position has taken some loss, he says... "...hong kong bank let me down, india let me down, gordon brown let me down, etc. etc..." son, thee only person that let you down is YOU!
cooksecurities 2 months ago
@cooksecurities well said - he's atually a good trader - but he fights himself mentally rather than just getting in there and placing a trade - he's also trying to look for that "magical" trade that comes around every now and then,
jackiehurst 1 month ago
The hedge fund manager was ignorant to pick random people, because they most likely do not have knowledge in Accounting or Finance..
eduvossj 2 months ago in playlist Million Dollar Traders
@eduvossj This is what makes a great TV show for "suspense" - they picked EXACTLY the right people.
zdrux 2 months ago
@hansgla I was thinking that - nobody as shrewd as Lex with 1 million would simply give it away for the sake of a documentary. He must have received circa 25K for the documentary. Probably started as an idea at the BBC - then went to a researcher - and then they approach a head trader with the idea - and thats how it works.
jackiehurst 2 months ago
"One's man's terrorist is another man's freedom fighter" ... that shows he's a vet wisened by combat.
MaximGhost 3 months ago 3
Global warming.... biggest myth in history.
tcsonline 3 months ago
I was on the other side of the trades, an inside contact at the broker firm was giving me the information, I made a fortune.
VERGIS92 4 months ago
Trade ethically????? Hope theres loadsa traders out there willing to flushe their money down the bog into my pockets. The markets have no room for poncy treehuggers.
BintCrusher 4 months ago
The cake is a lie.
MastermindX 4 months ago
In technical analysis, you dont bring emotions down to trading, you dont bring fundamental bullshit here,
its all about specualting and manupilating,
its baout how you would react, and you apply it, not some global warming bullshit and some defence contract
VirginTAKER3600 4 months ago
So these guys/gals cant use options? What a waste! Really, great hedge funds do not limit themselves to one type of asset or instrument. Yes, I know these are beginners, but damn they should have at least teached them how to buy/sell options as a hedging strategy.
miasma1616 4 months ago
that's some expensive cake at 3:03
spaceboyted123 4 months ago
wata fukk why they need all those fancy bloomber junks, to make money all u need is ur charts, no news feed no nothing just prcie acction duh sukas
mastertrader1 5 months ago
.. cake didn't let me down.. the flipping Hong Kong let me down... India let me down.. Gordon Brown let me down! LOL!!
hannahskm 5 months ago in playlist Million Dollar Traders
work hard... maybe this nigger could learn to not lisp.
dhrdan 6 months ago
@dhrdan Get back to playing video games and driving you little boy cars trading is not for pussies like you.
dmoneyman24 5 months ago
@dhrdan lol that's funny dude...very true. his distant cousin got arrested last month for those rogue trades done at UBS' expense. However, i do NOT agree with the "work hard' part. I must've taken too much Gordon Gekko lines to heart.
Sempertacsil 4 months ago
do what a good trader should do and hang on to a loss thats increasing? lol wtf what kind of "good" trader is he talking about? one that specializes in margin calls?
uzernam3 7 months ago
The narrator obviously does not know what he is talking about. You have to set yourself a stop-loss. You can't ignore a share while it falls. You sell at that price and take a loss and move on based on your risk management. Sure it could rise up again but thats a risk you have to take.
castelinop 8 months ago
@castelinop For you that may not know the narrator only reads out what he was told to read. He is not responsible for the script.
rodrigotorniai 6 months ago
Is this the newest season of the office.
nimchimpskii 8 months ago 16
This narrator is talking BS, the last thing a good trader does is IGNORE a losing position...
SilverShamrock71 10 months ago 26
@SilverShamrock71 why do you say that? why don't you ignore it?
Zyphon400 1 week ago
This has been flagged as spam show
@Zyphon400 okay so the fact that you're in a losing position likely means the market is trending against you, so the more you ignore it, the bigger the loss becomes...
better to close while the loss is still relatively small and manageable, sure sometimes the market will come back in your direction, if so just re-enter and you can probably do it a better price, but you only need it to continue against you just one time, once turning into a catastrophic loss and bingo, margin call...
SilverShamrock71 1 week ago
Comment removed
SilverShamrock71 1 week ago
@SilverShamrock71 You don't know what you are talking about, he didn't ignore it, he just chose to wait it out.
couer1911 1 week ago
@couer1911 aw ffs, read the context of my original comment, it's what the narrator said... get your facts straight before you come accusing me of not knowing what i'm talking about...
SilverShamrock71 1 week ago