21:00 (Tuesday, UK time) Million Dollar Traders 3/3. By the final close of trading just three traders are left, but will they make a profit?
"But - you know, institutional investing isn't anything like retail trading. For starters, you are not going to see an IB's equities desk using a RSI + MACD crossover system on 5 min charts - the only reason they will be looking at indicators is to manipulate them as to bring in some supply or demand (aka "painting the chart")." Badiot, here's the problem, These are traders, not "investors." They are trying to make profit within a few hours to a few days. I would hardly call 1 million divided by 6-10 people "institutional." Their size is comparable to a good sized retail trader. When you say institution, you refer to tens of millions of dollars being managed. You don't think institutions use MACD, trendlines, SMA's, EMA's, RSI, stochastic? They must use "gut feel" then huh? Lol. I would suspect institutions (big banks, hedgies, prop firms) are using far more complex proprietary custom built indicators actually. Either way, they're not rollin' in dough, so something isn't working. I'll still be tuning in just to see if the Fighter Promoter guy takes the cake... I GOT MY MONEY ON HIM!!!!
What is so hard to believe about that? Not everyone uses indicators you know! "Gut Feel"... rarely - but they might, say, take a look at a new product in development, acknowledge that it will change a particular marketplace or introduce competition to an otherwise monopolised market, and put a long-short on it? What is so absurd about that? EDIT: not all "Traders" are concerned only with their PnL over the day, a trade can last for weeks and even months.
Well, it was right that Cleo was sent walking (thought Amit should have gone too), but thought the united walkout was a mistake made in the heat of things... I don't understand what the big deal is? She wasn't doing very well, so why the big upset? Surely they all saw the writing on the wall? Emile - do you regret walking out in the heat of the moment? The four of you would have been a strong team...
They had all accepted failure but needed a catalyst to leave but lacked bravado to do so. The en masse walkout simply covered their INDIVIDUAL WEAKNESS and did not change the profitable three that were left behind. I am quite sure the quitters had realised that game was up but were just hoping and praying for holy deliverance, thats why they all said "...ohh what a relief...." once they were outside since they COULD NOT HANDLE THE PRESSURE. Also did Emile realise that if he had been sacked the Sloane Ranger a.k.a Cleo would have not shed a single tear for him, let alone get into some solidarity parade. The Pakistani chap Ahmed should not be allowed to open an account to trade any type of financial instrument until tutelage under an accomplished market practioner. As for the EcoTwat, let him go build schools in Congo !!! The young black guy probably best as he is young, without committments and can be moulded into a proper trader. Don't think the mum of two would enjoy say doing overnight shift for some trades in Australia, Hong Kong or Tokyo ?
Not yet (3rd episode), but here is Harvey Walsh analyzing the show: http://www.youtube.com/watch?v=jlaZJxH28Rk (actually more interesting than the show itself)