Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

MINTED

A Must See !....principals Apply, Whatever You Trade

Recommended Posts

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"

 

The final "results" will shock you....

Share this post


Link to post
Share on other sites
ONE statement stood out from ALL the others....one of the participants just said

 

"YOU CANNOT LEARN THIS FROM A BOOK, ONLY BY EXPERIENCE"

 

The final "results" will shock you....

 

Unless they all failed miserably, the results wouldn't shock me. Anyone who can tell the difference between up and down ought to be able to learn this in a much shorter time than is generally claimed (usually by those who have something to sell).

 

Children learn quite well and quite easily, until they go to school....

Share this post


Link to post
Share on other sites

I suspect you need to watch it db - you might find it differs from what you expect. If not available locally copies can be found on the net pretty easily.

 

It is an excellent lesson for anyone. I really enjoyed it.

Share this post


Link to post
Share on other sites

The series was very bizarre and perplexing to me. I can't relate relate to their trading style and strategies (which are governed by the gut, primarily). In addition to that, it's typical reality trash at times, which some people quite enjoy. I'm sure the producers were eating up all the drama. I got a chuckle on the results, especially since they were mostly in cash, so it's expected that they couldn't win or lose all that much.

 

Trading doesn't have to be like that. And a lot of the "wisdom" they impart makes for good TV, and that's about it.

Share this post


Link to post
Share on other sites

It was enjoyable enough. I gave a heads up when it first aired on UK TV (not much use to many) though It pretty quickly found its way to youtube.

 

I would have liked to know a bit more about the strategy they employed, I guess an average reality TV viewer is less likely to be interested in that so not much coverage was given. A lot was gut, based on the newspapers and news wires, though I seem to remember they had to trade pairs.

 

It would seem that people react to trading other people money similarly to there own, though I guess some might be able to be a bit more dispassionate.

 

'Certainly worth a look' rather than 'must see' imho :)

 

As an aside I found this absolutely fascinating The Ascent of Money | Financial History | Professor Niall Ferguson | Channel 4 it's also on you tube I think and definitely worth a view. It's good to know that there are quality programs being made here and there.

Share this post


Link to post
Share on other sites
Anyone who can tell the difference between up and down ought to be able to learn this in a much shorter time than is generally claimed (usually by those who have something to sell).

 

Many are misled both by those who have something to sell, as well as by others who merely have an ego that they wish to have stoked and stroked. Many are led to believe that learning to trade is a long drawn out process, full of pain and peril, not unlike that endured by the Sorceror's apprentice. When I finally had the epiphany that the question for the speculator is simply "is price rising, falling, or holding steady?" consistency and profitability quickly followed.

 

 

 

Children learn quite well and quite easily, until they go to school....

 

Children are perhaps the best candidates to learn to trade ... Goldman Sachs ought to start now training their next generation of traders by starting a charter school.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

It was FASCINATING. I wont give too much away (as I DO recommend you view it)

 

Too bad for me (and probably some others).

 

Sorry guys, perhaps I don't know how to search in YouTube but I surely don't succeed in finding these videos except some trailers that do not have any informational content.

 

May I ask you to sum up what the results where or what impressed you?

Share this post


Link to post
Share on other sites
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"

 

The final "results" will shock you....

 

Strangely the majority of traders on this forum found the "worst market conditions for a generation" a lot more profitable then before.

 

As for 'fascinating', I disagree. Half the time they were repeating what already was being said, there was more focus on the ego's of some people than on the actual trading, and viewers didn't learn a single thing about what trading is actually about. The only thing brought to the viewer's attention was a short explanation of what it means to "short a stock".

 

The series focused primarily on interactions between people, not in the market. Which is fine, if you're into the kind of reality-TV where who said what is more important than what is actually going on, but those who want to watch a show about traders are probably more interested in what trading is actually about.

 

I agree with atto, reality pulp, not the trash usually aired by commercial broadcasters, but still below the general level of a BBC documentary.

 

Warning: spoiler

@uexkuell: If I remember correctly, the end result was that the best trader gained about 1-2% in that month.

Share this post


Link to post
Share on other sites
if you're into the kind of reality-TV where who said what is more important than what is actually going on, but those who want to watch a show about traders are probably more interested in what trading is actually about.

 

Warning: spoiler

the best trader gained about 1-2% in that month.

 

Reality TV?

....perhaps, More a fly on the wall experiment?

You wont learn much on "trading" methods, but still encouraging to see that over 30% of "class" produced results that were on par or better then "pros"

 

I liked it, and it gave me the impetus to carry on knowing that.....it IS possible to turn a profit. Not easy, but POSSIBLE

Share this post


Link to post
Share on other sites
Reality TV?

....perhaps, More a fly on the wall experiment?

You wont learn much on "trading" methods, but still encouraging to see that over 30% of "class" produced results that were on par or better then "pros"

 

I liked it, and it gave me the impetus to carry on knowing that.....it IS possible to turn a profit. Not easy, but POSSIBLE

 

A fly on the wall experiment observes neutrally and shows everything so that the viewer can form a picture of his own. Reality TV selects certain moments, magnifies them and directs the show in a certain direction. If you call that programme a 'documentary' by all means, but it's not.

 

Besides, comparing the results of someone who's trading a handful of stocks with someone managing a hedgefund...

Share this post


Link to post
Share on other sites

Thanks for the info, I watched it and enjoyed the first episode, the second and third turns into reality shows and I got bored.

 

I like the explanations: "Shorting involves a complex mechanism..." lol :)

 

Why did they need to phone their brokers?! :confused: and I couldn't see them using derivatives :)

Share this post


Link to post
Share on other sites

 

"YOU CANNOT LEARN THIS FROM A BOOK, ONLY BY EXPERIENCE"

/QUOTE]

 

This may be true unto certain degree but may not be entirely true.We need practical experience as well as some basic theoretical basis for creating strategies as well as perform number crunching to maximize the gain .

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • How's about other crypto exchanges? Are all they banned in your country or only Binance?
    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.