Traders: Millions By The Minute – Some Glaring Problems 2

By | October 10, 2014

I will address the first episode of the BBC Two documentary series, which can be viewed here.

First, we have a lot of advertisement for a proprietary trading firm which also trains traders, called Amplify Trading. Generally speaking, I have a big issue with the whole trading education industry. This is still the wild west, where anyone can get away with making unsubstantiated claims and charging beginners or gullible people thousands of dollars.

We get to see Piers, one of the founders, trading during an ECB meeting. He puts on a trade based on his interpretation of a few words ECB President Mario Draghi said. We’re told he won $8k on the trade that lasted 2 minutes. There’s no mention of the risk taken. It all seems very amateurish to me.

Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading. – Paul Tudor Jones

We also get some glimpses of a 4 months trading course Will and Piers teach to a group of 6 trainees. One of them is Ben, recently married, hopes that at the end of the course he’ll be able to trade for a living from home. I find that very sad on one hand, the fact that he’s so delusional, but on the other, I can’t ask myself, shouldn’t it have been the first lesson of the course, that you can’t trade for a living after just 4 months?

Another trainee is criticized because he only took one trade in a week. Now, why would that be a problem? Opportunities aren’t there every day or every week. The market doesn’t pay you by the number of trades you take. I find that critique ridiculous.

At 48:19 the voice-over says that DAX is the most unpredictable and difficult to trade. (!) We’re not told how she came to that conclusion.

Then we have T3 Trading Group the US registered broker-dealer and Scott Redler, chief strategic officer and one of the top traders there. We’re told that some of the traders make millions trading company’s money. We’re not being told though that they operate on a first-loss basis, that means the trader has to bring his own capital, and what he actually gets is just extra leverage.

I didn’t really find any issues with the hedge fund lady, the floor traders or the HFT guy.

16 thoughts on “Traders: Millions By The Minute – Some Glaring Problems 2

  1. Eugene Radle

    Pretty section of content. I just stumbled upon your weblog and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I will be subscribing to your feeds and even I achievement you access consistently fast.

  2. BestAlecia

    I see you don’t monetize your blog, don’t waste your traffic, you can earn additional
    cash every month. You can use the best adsense alternative for any
    type of website (they approve all websites),
    for more info simply search in gooogle: boorfe’s tips monetize your website

  3. recurring income

    This is a very good tips especially to those new to blogosphere, brief and accurate information… Thanks for sharing this one. A must read article.

  4. voo cancelado tap

    Hey just wanted to give you a brief heads up and let you know a few of the pictures aren’t loading properly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same results.

  5. web page

    Today, I went to the beach front with my children. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is entirely off topic but I had to tell someone!

  6. here

    I went over this web site and I conceive you have a lot of superb info , saved to bookmarks (:.


    Hi! This is my first visit to your blog! We are a group of volunteers and starting a new initiative in a community in the same niche. Your blog provided us valuable information to work on. You have done a outstanding job!

  8. pinjaman mbsb

    Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You definitely know what youre talking about, why waste your intelligence on just posting videos to your weblog when you could be giving us something informative to read?

  9. Tech In Expert

    I truly appreciate this post. I’ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thanks again!

  10. The Almost Done

    A person essentially help to make seriously posts I would state. This is the very first time I frequented your web page and thus far? I surprised with the research you made to make this particular publish extraordinary. Great job!

  11. Quinn Theodoropoulo

    There are those who engage in this type of trading without sufficient knowledge; however, there are day traders who make a successful living despite, or perhaps because of, the risks.

  12. 2019 jamb answers

    A person essentially help to make seriously articles I would state. This is the first time I frequented your web page and thus far? I surprised with the research you made to create this particular publish extraordinary. Fantastic job!


Leave a Reply

Your email address will not be published. Required fields are marked *