BBC2. 9pm. Million Dollar Traders

Dooooooooooooooonut

tradetime wrote: »

I would / will attempt to replicate futures trades, though not interest rates, primarily index futures. As I said before, the pricing looks close enough to my feeds to be usable [I'm familiar with the pretty screens, I have my own]. Time will tell.

Do you trade the actual futures?

tradetime

Dooooooooooooooonut wrote: »

Do you trade the actual futures?

Yes, ES and NQ's mainly

Dooooooooooooooonut

In that case have you seen futuresbetting.com, they give access to the same underlying and charge comission through a spread... works out at about $10 a round trip or something ridiculous but you might find that easier if you use at the market depth at all.

WTF?_2

Just caught up with this show last night - surprisingly watchable.

It should really heat up when the trader who put his own money up pays a visit and starts kicking !!! since they are losing so much money.

I wonder what the concept was here? I'm guessing that the trader who is providing the dosh had plans to make a sort of 'financial reality TV show' and capitalise on the booming economy at the time.

However, it came across more in the mould of a serious documentary (not necessarily a bad thing) and it can't help that with the subsequent market problems people aren't really going to be too interested in investing.

Conrad

Have any of you traders read Warren Buffet or his mentor, Ben Graham?

Both argue day trading on average is a poor returner. From memory they contend trading numbers on screens puts you too far from the underlying companies, each of which have thousand of employess carrying out thousands of tasks each day, where all sorts of unknown inputs will affect the price and divis.
I know nothing myself, but my gut instinct is the worlds richest man buys and holds long term for a reason, and his Berkshire Hathaway fund has shone through

purch

his Berkshire Hathaway fund has shone through

It didn't last year :eek:

There is a difference between Investing and Trading.

Buffett is an Investor, which is why his wise words and sayings are of most use to the amateur investor.

tradetime

Dooooooooooooooonut wrote: »

In that case have you seen futuresbetting.com, they give access to the same underlying and charge comission through a spread... works out at about $10 a round trip or something ridiculous but you might find that easier if you use at the market depth at all.

Yeah cheers for that, I think they are a fairly recent re-incarnation of an outfit that went offline a while back, based in Gibralta. They were the ones I alluded to in the earlier post when I said I only knew of one firm who may provide a genuine live market feed. If I understand their blurb correctly they simply add the spread afterwards like a fee, so the quotes aren't manipulated. They say they hedge all trades, so they have no book risk. But as you say at first glance they looked pretty pricey.

tradetime

Have any of you traders read Warren Buffet or his mentor

Warren who????
Nah just kidding, lot of respect for the legendary Mr Buffet, in fact I follow his advice. He says "always invest in what you understand." I understand short term market movements, so I invest my time in that, I don't understand company balance sheets or business models. To Mr Buffet, I would say that I am simply trading a pattern or behavior of market participants who are reflected on my screen, so I am right where I need to be.

barrooo

I don't understand company balance sheets or business models.

You probably do, or would if you had the time.
Thats the issue for me, I just can't be bothered to sit down and trawl through company reports and business models, I prefer to have the graphical representation of charts, with the occasional bit of fundamental analysis, to stop me getting my head handed to me.

lcharm

Anyone still watching this? I watched last weeks one today and it's looking really interesting now. Can't wait for tonights one!