Hi guys I'm a futures trader from Australia. I have searched all over the internet for a documentary of "Bulls & Bears". It features John "Rambo" Moulton, the American STIR future trader who came to the Australian market and single handedly dominated everything... Well, I finally got ahold of it and have uploaded it to Youtube: Here's part 1: http://www.youtube.com/watch?v=kHawmZbapjU Part 2 is being uploaded atm and will be up in a few hrs: http://youtu.be/IeicBStz8NM > There are some people who were trading on the Sydney Futures Exchange floor that still trade today. Some of them for the same Prop firm I'm with. I recommend everyone to watch this video. > It really opened my eyes. I have traded for 2.5 years now. I've been consistently profitable for over 1.5 years, and started to build a personal-account with my prop firm (because my ambitious risk threshold violates what people are allowed to have at the firm without fronting up personal money)... I was very, very, very fearful that markets got 'harder' over time and that I will be wiped out in a few years. > In truth, they were always extremely hard. There are things that happen in this documentary that just show you that trading will always require 500% focus, determination, and resilience. The top 15% of guys take everything. Winner takes all. It wasn't 'easier' back then. It was never easier. Its always the same level of ultra difficulty. It goes through cycles. Thats it. > The game is always hard. You always feel like youre suffering. No matter what the dollar amount is. Some people are ruthless pathetic c-nts and like to think they're always winning and act like they're invincible, but these people are borderline psychopaths. > Let me tell you first hand, even when I made >$40,000 in a month I still feel like absolute sh*t because I get my ass handed to me over and over and over again. I feel like a gladiator with a wooden sword whos up against three un-fed lions in the battle pit... EVERY SINGLE DAY. Hope you guys enjoy the videos. Any questions about trading in general I am happy to answer P.S. I trade futures on: - Australian/U.S. Bonds spreads - All along Australian yield curve - Australian/U.S. equities spread - Australian STIRS, mostly spreads and double spreads (flys/condors) -Australian bonds with STIR spreads xo regards
Part 3 is corrupt on my friends DVD... so I need to wait about a week or two for him to grab another limited copy and then copy it over. However, part 3 he said is very boring it is just about John's golf courses and holidays and the high-life and has nothing to do with trading. Anyway, I'm doing my best to get Part 3 asap. cheers xo > Also incase anyone is wondering.... > During the middle of the film John Rambo loses ~4-5 million dollars (it's undisclosed in this documentary). That's about what he makes in a year. So he had lost a lotttt of money relative to his income. However, he bounced back and made it back by the end of the year I believe. He lost it in June. > The trade I believe that absolutely ripped him to pieces was he spread the Australian 3yr bond with the 3rd-Australian STIR (3rd Bank Bill). This is a pretty directional spread. If you want more of a faders market, you look to try grab liquidity on the 4th or 5th STIR instead as it's less directional (but does less volume... so there's a price). > I trade this very often so I'd know. Anyway during the AFC the Aussie dollar crashed a huge amount. This sent an influx of money into the 3yr bond and less demand for the Bill (Aussie dollar correlation money going through....). I believe this is the trade that wiped him because he held it for so long, or averaged, or whatever, I'm not sure how he executes but yeah. > If you listen carefully in the middle of the video, one Broker from the floor (who is actually, today, the founder and owner of my prop firm!) says that 'commentators were saying the RBA is thinking about 25bp cut of rates and now they're considering about a full 100' This just shows the sheer amount of panic going on at the time during the Asian Financial Crisis. We had things like the Chinese Government de-valuing the Yuan which sent massive pressure as well. Anyway when it starts to 'pick up' later on, John Rambo is playing around in the Japanese-Yen-intervention and after most people have licked their wounds, returned back to the game a few months after June when he got creamed, and started hammering back his wins.