BBC2. 9pm. Million Dollar Traders

barrooo

Not quite as easy when markets are unstable and tending to head downwards.

Very true, although I like to hear what Hugh Hendry (Elektra) has too say when he's on bloomberg etc. Always seems to get in an arguement with other panelists:rotfl:

purch

Not quite as easy when markets are unstable and tending to head downwards

No easier :eek:

Any decent, well trained Trader 'worth his salt' prays for volatility like we've had over the last 12 months.

WTF?_2

purch wrote: »

No easier :eek:

Any decent, well trained Trader 'worth his salt' prays for volatility like we've had over the last 12 months.

Obviously there aren't many traders worth their salt then because with the markets heading lower over the last 12 months, very few people seem to have been making money regardless of the possibilities offered by increased volatility.

purch

Speak for yourself !!!!! :cool:

Actually you will find that there are hundreds of traders on trading floors all over the City, and elsewhere who have made lots of money for their institutions over the last year.

Unfortunately for both them, and the Banks they work at, the writedowns and losses from other activities have totally dwarfed their efforts.

zippeh_2

and hopefully their bonuses.

WTF?_2

purch wrote: »

Speak for yourself !!!!! :cool:

Actually you will find that there are hundreds of traders on trading floors all over the City, and elsewhere who have made lots of money for their institutions over the last year.

Unfortunately for both them, and the Banks they work at, the writedowns and losses from other activities have totally dwarfed their efforts.

Maybe - but I suspect that most of the 'success' in the City came out of an enduring inflationary/expansionary economic environment fueled by massive amounts of cheap money and market gains in almost all sectors over a the longer term.

In such a situation it was almost impossible to lose, so people fooled themselves into believing that they must be successful because they were great at their jobs not because we had an unprecedented run of almost a decade of good times.

zippeh_2

!!!!!!? wrote: »

Maybe - but I suspect that most of the 'success' in the City came out of an enduring inflationary/expansionary economic environment fueled by massive amounts of cheap money and market gains in almost all sectors over a the longer term.

In such a situation it was almost impossible to lose, so people fooled themselves into believing that they must be successful because they were great at their jobs not because we had an unprecedented run of almost a decade of good times.

..exactly my thoughts...

chucky

!!!!!!? wrote: »

Obviously there aren't many traders worth their salt then because with the markets heading lower over the last 12 months, very few people seem to have been making money regardless of the possibilities offered by increased volatility.

the large majority will still be making money - volumes will be less however which explains the current redundancies.

i suggest that you visit a trading floor to see what actually goes on there to see if their making money or not instead of judging a traders ability whilst sitting in your armchair.

alared

Just remember that these "traders" can short sell,something that ordinary people CAN`T do.

Short selling is selling "borrowed" shares that you don`t actually own,to buy back at a later date to "repay" them.

So in this experiment they can play the market both ways,but as I said,the likes of you and I can`t short sell.

purch

In such a situation it was almost impossible to lose, so people fooled themselves into believing that they must be successful because they were great at their jobs not because we had an unprecedented run of almost a decade of good times

I think you are getting this slightly out of context.

Trading Floors/Dealing Rooms have existed for decades in Banks and Brokerages and the traders/dealers and what they do is part of the normal everyday function of these institutions.

They will have continued with what they normally do, buying, selling, trading and making or losing money as they have always done. Some will lose their jobs if they can't 'hack' it, just as they have always done.

I think you would be surprised how little has changed on your average trading floor in the City.