Million Dollar Traders - Part 2 | British reality TV Series & Course created by Lex van Dam

first rate of the day please VP I'd like to buy 206 of 105 7.5 780 sold at 781 - nut oil you like to sell 80 shares please it's all all I've just been walking wanna be sure this is a trading room like no other because no one here has ever worked in the city before 900 quid like that these eight men and women have been given $1,000,000 and two months to run their own hedge fund and invest in the stock market as they see fit this is what whose experiences that money can't buy door lockheed-martin it's a radical idea created by one of the UK's leading hedge fund managers Lex Van Damme I'm taking a huge risk here and if they don't care enough then I'll make sure they care if the novices play the game well they could each walk away with a hefty bonus if they fail they'll leave with nothing can they become successful City traders or will the pressure of trading the worst economic crisis in a generation push them over the edge I mean do you feel like you've just had enough the last time I had trauma like this was getting divorced think about what you're saying it's unbelievable it's three confirmation didn't want me fit me I can't do [Music] [Applause] [Music] [Applause] [Music] [Music] 7:00 a.m. morning meeting the novices are now three weeks into their two months of trading and they're struggling to cope with a problem none of them could have foreseen the developing credit crisis overnight this let's plow through every trivial commodity move unless it really matters it's causing havoc on the world stock markets it was 10% of which is a huge rise as you fell so you know speculation continues these cataclysmic swings which explains it was like so difficult for us to get this trading business right as a result the novices have only managed to invest a paltry 40,000 of the 200,000 pounds that investor Lex has so far released to them if their mortgages have been deferred the credit cards was next door thinking what other forms of credit very good thinking and after an ill-advised decision to invest in the banking sector last week they lost five grand one trader who lost a lot of cash was Simon a recently retired IT engineer several of us had positions in banks based on expectation perhaps not much more sophisticated than because banks have gone up a hell of a lot recently it's time they went down if it had paid off if they'd gone in the right direction then we would all have been are things that happened to go in the wrong direction almost we learn a lesson from it you know some of us are lost a considerable amount money but you know you have a good day you can make it back I've got confidence we'll be fine we'll be fine Caroline a single mother of four year old twins has emerged as an early frontrunner her calm trading instincts meant she kept well away from trouble thankfully I wasn't in banks I haven't watched the volatility of them in this marketplace and I thought with a lot of the the rest of the team in banking that I would stay I would stay away from it and stay with you no just keeping an eye on the portfolio that I'm building for myself widget at the moment doesn't include any financial stocks last week the novices were given 25 thousand pounds each to play with but they've already lost 10% of their invested capital if it continues the investor Lex Van Dam faces losses of well over 50,000 pounds a prospect that promised a rare visit in this environment Lex won't tolerate failure as the boss he ultimately has the power to reprimand or even sack any of his traders some of you might have felt like you can't do the job or it's it is impossible but maybe nobody has been able to do the job and maybe it has been impossible you know a lot of trading has to do with being able to tolerate pain in my case it's been almost continuous it's just drip drip drip drip more pain today more pain yesterday which I'm sure is affecting my morale therefore my ability to make decent decisions the next day do you feel like if you can't once you've cut the pain has gone don't you feel by now no only I don't I do I definitely feel better when I've cut it these stocks have no memory you know they don't care you don't want to make it personal you know the stocks are there to make money well I had a great day I know everybody else was having it ready [ __ ] so how did make you feel it made me feel great inside that you know I was I was you know yes going in the opposite one else was some you know doom doom and gloom but they'll give you a little bit of joy yeah yeah because I don't want the rest of the team to suffer I think I get a group that could have been a lot worth it could have been sitting here and you know I'm a significant loss that we could not make up so that's why everybody is coming at 50k so everybody's capital is gonna be doubled you're smiling I don't mind any having 25 grand it's not your decision what it don't allow you to do is to make up for your losses quite quickly and if I have leaving you guys maybe you should have believed in you as well so let's go make some money Lex is busy running his own hedge fund so he's handed the day-to-day management of the team to 29 year old ex city trader Anton creel it's clearly extremely difficult to make money in this environment you've got huge blue-chip companies in the footsie moving 10 20% almost every day and that's unprecedented but it's kind of like no excuse you know we want to make money it's just more difficult to make money 8:00 a.m. and markets have opened Domino's again please the oil a hedge fund is an investment body designed to make money whether the markets go up or down 190 shows and with the credit crisis ending markets in every direction the capability of this particular hedge fund will be tested to the limit so with 50,000 pounds each to play with they will all need to generate lots of solid investment ideas IT engineer Simon is using his gut instinct six one seven thank you very much I've got good charts on caprica this looks good you know I feel and he'll it's it's a comfort stock yeah you know if you thought the whole world was gonna end in half an hour what would you do you'd reach from ours bar or bar chocolate you know absolutely I think I was not that I hope it isn't just in case I think I better get some in stock for retired Army Major Mike the best ideas are simply the ones that make money I suppose it's become the intellectual thrill of the game to be honest I just like the way you judged actually you know it's all about personality so much it's about your profit and loss you know you really pull you down either making or losing and that's it's quite a thrill Mike's chosen to build his portfolio around arms manufacturers okaybye 1767 at 4:53 done cheers oh but his enthusiasm for military investments cool isn't shared by Sam a committed environmentalist who only wants to trade in ethical stocks my experience here I originally thought that it would soften my views on the city and the people that worked in it it's actually done exactly the opposite it really troubles me personally that money can be made from things which some people deemed to be unethical and I have a real issue with that but it's the kind of clean profit taking with absolutely no regard for who the end user of these weapons are that I find really troubled ability to to sell to a particular nasty dictator is governed by the UK and they need an export license in which to do so so it's sanctioned by the British government the government the you elect law and morality are two separate things if it's legal the morality is irrelevant is that what you're saying so it's a bad world we know it's a bad world why why should we let profit you know just hold our hands up and say actually that's you know that's a questionable dictator you know because one man's terrorist is another man's freedom fighter and it all depends on your point of view it's like saying if I'm not gonna do it someone else will so I might as well do it what would the context that we're living in is one in which as you yourself say global warming it's a massive issue guys would it be possible to defer this debate it's just not quite the right time cool thank you sorry Sam no fortunately I find that kind of debate much more interesting than me to illustrate and you know I'm playing devil's I'm playing devil's oh I know I know absolutely people buy weapons and countries buy weapons you're acting within the law and I don't see any difficulty in in investing with the mix hard facts of life you know if I don't somebody else will [Music] the credit crunch summer of 2008 is biting hard many members of Congress blame oil speculators for driving up the price of crude Baron developments is surging today and lease its share prices in a tough market the traders need all the help they can get to generate ideas so information is everything I saw with our electrodes down not artifacts and FFP down a never-ending onslaught of news must be dissected analyzed and debated earthquake in Japan yeah six point eight on the Richter scale by Japanese construction firms 160 people injured all in pursuit of profit what'd you do buy yen earnings reports oil prices commodities currencies politics the weather certainly not done with this storm yet anything and everything can move the markets standard charted earnings coming in stronger than estimated standards avi of three percent of them sick fest performer in the footsie traders who want to win must stay one step ahead of the pack like this is just the [ __ ] but you have to know and be on top of right twenty-year-old Aki is a straight-a economic student from sort number what it takes to be successful like this isn't a roll of the dice a player velaryon hoops and twice as rich no it's not like that or you constantly research you constantly work hard you constantly work out all of the things that can possibly go wrong hedge against it and then you still have to hope for the best yeah stand the troll oh he has bought shares in Standard Chartered group a bank with exposure in Asia his research suggested that the Far East had so far escaped the banking turmoil but just minutes away from his desk and the credit crisis has spread East it was all good yeah they were up and then I went away to get some cake and two bangs that too flippin bangs downgraded them in the fifteen minutes that it took me to go and come back and then they shed eighty points and I'm trying to I'm hoping for a rally I'm not getting out because I'm stuck Kate didn't let me down the flippin Hong Kong let me down India let me down Gordon Brown let me down I'm in the game mmm it's made me a lot more self-aware it's made me a lot stronger it's made me look at myself in an objective way which I haven't been able to do before hello there little aji from traders um I am looking at Standard Chartered with the stock falling fast many novice traders might be tempted to panic and sell 15:41 moment are you serious yeah okay I've just left my shirt excuse me I'm not going on holiday to Thea okay I can't fell out at that price Beth instead oh he keeps his cool and does what a good trader should he concentrates on his other ideas and building up his portfolio I'm looking at shell next I'd like to buy 225 shares of them at market please like it fight promoter a meal from Toxteth and Liverpool has few qualifications in the real world he would have little chance of securing a job as a trader I think on a personal level it's about ability it's about validation it's about being able to do things when people say you can't do them where you shouldn't do them blacks ask me what did I want and I said I didn't want the Porsche I want the ability to buy the Porsche but he's a quick learner and like oke he's seen the benefits of building a strong personal portfolio got it make a new strategy no I'm just buying everything that I like so where they self call blackberry Apple Nike Adidas it's really like you know like a listening in your own branded life and like the things I don't like assure them it's quite a good plan actually it's not it's not working that bad I need to make some sort of clean cut perfect one thing just yeah you're gonna buy 30 year old Amit has the will to succeed but the question is whether he has the right ideas his motivation is a new career away from his life in Lincolnshire at the moment I'm a shopkeeper and something that my father did so it was natural for me to follow I suppose even though since the ohmmeter said I'm never to the one thing that my dad did but you just find yourself falling into it you know if you do your work and it's very logical and it's independent hmm go for it okay my main motivation for doing something like this in the want to make money I've seen my parents work really hard you know over the past 25 years so I wanna make enough for him to see you've got a pot of money there now let's chill out relax with mortgage companies struggling omits investment idea is to find the next victim of the credit crisis it's all of us I can guessing trying to figure out whatever else is going to do next so if you can possibly home into that and work out the way they're feeling then you can make money off the back of that woolsley group a supplier of construction products and materials catches his eye good afternoon it's a knit here the walls appears WLOS pre-tax profits have fallen 35 percent and its share prices plummeted okay honest sell 1300 place he jumps into the market and decides to sell short hoping for a further fall selling short is a complex deal that involves borrowing selling and buying back shares and allows the trader to make a profit when the value of a stock goes down if Emmett's right and walls Lee's price falls the whole team will profit but not everyone agrees are you absolutely positive about that course I am don't worry about it all I'm saying is what if it's hit the bottom right maybe all the bad news that that companies had to 70 is in the price no it's not don't worry mate relax all right good you go decide for yourself in this game if you'd like to any people influence you then you know your brain just starts wandering off in different directions you know what is there any more bad news going to happen for Wolsey I mean my feeling is no but but I'm it clearly sees it the other way so I mean that's fair enough I just hope it goes to team's way [Applause] by the end of week three the group has finally managed to invest over 200 thousand pounds a pound a pound of both we reported that was the one thing and I wanted to see that's a good trait like sitting area smooth some of the novice traders are beginning to play the game well they've built bigger portfolios and is starting to make a profit for the very first time over the last 48 hours I think you've traded really really well like seriously in the last 48 hours you've made massive progress like massive so you should be proud keep up the good work all right I think the boys the girls yeah things are okay this week they've really really come come on who's doing well oh he Mike and Caroline Paris Emile he still needs a little bit of guidance but he's showing you know real promise okay hammock please okay great thank you and the second one don't go away IT engineer Simon is now almost fully invested with a portfolio valued at 46 thousand pounds thank you very much we've had several days where everyone has been seriously Dan a day on day on day and now at last five of us are in profit I think is with some Churchill said this is not the end this is not even the beginning of the end but it is the end of the beginning and maybe a few of us feel that now by far the biggest investor in the team he's managed to build his book in just a matter of days a potentially risky strategy investing this fast could backfire with 200,000 pounds of Lex's money still available the other novices have been far more cautious some more than others having sailed through the selection process expert Clio is great at generating ideas she just can't put them into practice the problem is so big that she just has one investment in place by far the smallest portfolio in the team I just hate this money really hate losing money you know and I appreciate this if it was somebody else I'm saying for Christ's sake what you're doing but when it's yourself and you've got such degree of fear it's it's very very difficult to to step outside that and just force yourself to do it it's just a nightmare it really is if Clio doesn't invest potentially the whole team could suffer you've done nothing in a week really I know I appreciate that right you need a book yes right and it's been a week I know I know it's a yeah it's a hedge I can just put it on okay hold on ah are we in the auction oh my god the markets are open right look you know when it's here and you're watching it going tick tick tick tick no no look when you when you're when you're watching this and it's going tick tick tick tick tick yeah yeah you don't want to sell it Yeah right and then six hours later it's here yeah can I go and check the market door Thanks Cleo's one position is a long investment in mining company Vedanta and she'll only make money if its price goes up so so to guard against a fall in the market she must hedge her portfolio by shorting another stock hoping it will go down in value that's one I might short oh hi it's kayo I mean Xstrata XTA choosing mining company Xstrata she shorts a hundred shares but almost immediately they go up my money is going up the wall Xstrata is now outperforming her stake in Vedanta and she's losing money I'm a little bit worried this baby is gonna fly now it's three four seven for that extra XTA yeah okay I've sold short that and it's just come up really huge can tell me what the volume spreads I okay um but a hedge such as this performs better over time okay bye okay bye 500 500 been there by 500 thanks kg1 okay you've 100 faithful anyone extraor to the stock and it's clear okay all right go kill me it's falling now I'm just an accident stress man what have you done so what did hedge what my head went in the wrong direction completely right I mean space of like 20 minutes I crystallized hundred pounds loss well see you sold your head yeah I know I know I know I know the point is just like the longer you keep it on overtime the higher the correlation can't possibly aware of that now you can't hedge for ten minutes so that strategy doesn't work no absolutely so how many times do you want to get punched in the face I don't want to be about right so yeah never ever ever ever do it again in this position I'm you know I'm aware that I need to have pairs I'm not this is it best to just cut those positions and start top suicide okay yeah all right well listen you be good girl for nonny and grandad then but by Darla see you later Caroline's more considered approach suggests she's developing as a trader I don't think it's wise necessarily to just think Oh terrible position let's bail out now I think sometimes you just have to sit tight and and see whether the position recovers itself and not necessarily just be in it for a couple of hours being it for you know it could be a couple of days obviously Cleo you know she's got no positions at the moment at all and days are turning into weeks no no she can't get over it there is gonna be a point where I can't tolerate this anymore because she's pretty much not invested so she's actually not really trading she's distracting people she's crying she probably by now has a negative influence on the group but I think I'm out of patience by now it's just demoralizing I'm just looking at the fact that I've down 840 pounds 804 look at so frustrating because there's no book I can read it's the reconfirmation does it want be something I can't do and you know I don't need to feel this self worth at the moment it's just nightmare [Music] Friday 4:30 p.m. and the markets have closed the novice traders have reached the halfway points and this weekend is a chance to relax and regroup for a meal it's back to the day job as a fight promoter but his mind is still on the trading floor you know I was on the train home last night the guys sitting office to me like that or could he was really nice guy usually goes away drinks company so when which one he goes out the ico I was like oh yeah you know how's your business so cheap I you cans and bottles from Wrexham and he goes yeah we fight from Wrexham you know and I said did you hear about the fire last week and shine guy told me all this amazing information and I was asking him I would never have done that before you'll never have happened and that's what's being mad about this but it's good because all the time I'm thinking about jangles so I'm wanting more and the first thing I want to come to I'm gonna go look at the ICO and I go look at reaction which I've been looking at I've got more ideas now for the others time away from the trading floor provides an opportunity to catch up on their lives and spend time with family [Music] there's no certainty in this game I mean you're trying to forecast the future by having say yes and you know that's that's not possible here we go the entrepreneur Caroline it's an all-too-rare opportunity to spend time with her two young daughters unable to do it because my children are being looked after by my mother who is as close to them as those could be and I'm commuting and exhausting myself during the week so that I can come home and spend time with them of an evening but whether I could do that for in the next 10 years or so I don't know yellow I think I've had to develop a determined edge over a lot of years of working in some fairly in tough environments where you know you can't just roll over and let somebody walk all over you or you can't just dissolve into floods of tears and vow never to go back you have to be incredibly resilient off you go there's a good girl mommy loves you darling week four Monday morning 5 a.m. and the commute starts all over again [Music] traders across the city resumed their positions as the markets wake up with a month to go the fund is still losing money and the investor Lex Van Damme will have his eyes on those traders who aren't pulling their weight for shop keeper amat the day's already started badly having sold short in construction supplier Worsley amat is praying for its price to drop but today it's the biggest riser in the whole of the food scene still rising still rising and his losses are already in the hundreds what do you do what do you do do not buy back at the top that's for sure yep but where's the top going to be that's the problem exactly so what's your plan is your plan sir what's your all-day know do something is to do something but not obviously and I need I need that catalyst and ensure that don't do it the wrong prices Anton the only way you're going to potentially get out of this hmm is by building a portfolio like this is gun to the head time hmm because you cannot allow walls Lee to do this to you yeah sure unlike his fellow novices amat has been here before as a student he played the markets from his bedroom and got badly burns I started trading in university at 19 when my friends started doing getting on making money out of it it was a good idea that's been obviously a tech boon 1997-1998 we were laughing with what we were making alright for us all and obviously a tech crash came and and we lost all of it and more on that last deal I was in tears you know literally in my room and I was like oh my god well about done because when you lose like something like 25,000 pound in one day you can hang on mate you know I mean this is going bit further unfortunately for amat history appears to be repeating itself you one step ahead or one step behind the mark is I'm ten steps behind at the moment I miss in terms of emotions he's been through a washing machines in the last 48 hours in his emotions you can see every single tick of buff P&L having an effect on his psyche but that's a problem in trading like he's fighting with himself because he hasn't done himself any favors his he hasn't built a portfolio so for every movement in was the group he feels more pain than he should you're going through what every trader goes through I know I know I've been the format like wedding times are you he's ten thousand pounds short selling woolsley is hitting him hard having watched the price shoots up he now has only one option left I'm sniffing kritis oh it wasn't it wasn't us mm-hm quarter a chair three cores owned by Mike to North Mathis we're 33 36 and a half L okay [ __ ] for faithful this one trade has cost the team 1200 pounds Rhys Rhys right it's been a really screwed me up and a day you don't expect that but then that's the thing in this game yeah expect the unexpected I feel when you back to the group is I'm laying them down did not mean I was like [ __ ] you did you you know I mean yeah forget myself but like you know the whole desk could make money today except for me alright so welcome back to Sunnyvale live from New York I'm Betty Lou we are just seconds away from the latest data near monami economists all by bloomberg are expecting a loss of 75,000 jobs with each day comes new financial data that can provoke dramatic market shifts this is the inflection point for the next 3-4 days probably for the novices these announcements constantly test their portfolios properly hedged and they should withstand any market moves are you sure something net yeah yes so you want this number to be bad well I mean in terms of the pure numbers here then yeah come over to the dark side [Laughter] so you want less people in the u.s. working month-on-month the ones stop doing is buying cruises and Burberry clothes that's all they can do everybody what to do very specific I want them to get v by Rd that's close there you go so there's my specific taverns when you come over keep buying weapons there we go 51,000 we had expected down 75,000 maybe it does better than I expected that's well better I see what's going on it's big news figures that are better than expected false prices are having gone below this number never fails to surprise me let's head to Chicago now and talk to Larry Levine for his reaction I think they see a little bit of a rally and those with short positions start to lose money oh what the wannabe shots now you've got two competing interests three pounds of four times five kilos to whack me at 150 quid and less than like ten seconds is it gonna come down but those who heads well are effectively bailing out the less accessible traders I caught four three on fire it's fine at the moment my um shorts are not in profit but my M Long's are nicely in profit so I'm very relaxed about it at the moment I just want ideas I really want to put olio the one I'm worried about is once the Spencer's you see up there it's suddenly shot up it amazes me that UK stops reacting such an alarming way to use us data you know there's no point getting really really excited about a single event because in three or four days time if we have another single event that goes in completely opposite directions what's going on it's not a few days but just a few minutes before something happens 2,000 miles away in Israel that completely reverses the markets oh all jumped again I mean come on red it's a big spike right now for Cruden that's after Israeli Deputy Prime Minister said that Iran is on a path toward what he calls a quote major breakthrough and its nuclear program what it's done is not 50 points off for foot circle higher oil prices means higher costs forcing the price of many stocks across the globe to slide for a meal this means he's short positions which were losing him money are now suddenly in profits Oh keep going guys never wife me that's off there see it's good well off everything that I've complained about from one it is strange the way that the world center connected now is it is utterly bizarre that what he said his effects of meals portfolio I suppose I don't cuz I'm on aren't you think to yourself oh yeah you know I was going off oh [ __ ] I forgot to fill me caught up in the morning and the other hand you got thinking or else going off yeah I'm I'm either not losing as much money or I'm making some money I think it really brings out the bastard in here it's the first time the novices have experienced such dramatic market moves in one afternoon with well-balanced portfolios several of the traders have emerged unscathed but not Simon Rupert Simon am Xstrata please closing my short nine zero ninety 3644 unnerved by this volatility he's rapidly losing confidence in his portfolio remind me next time I open a trade with mining not to do it he's taken his book up which is great it's what we've asked for but he's doing it too quickly and he's out of control he doesn't do the work properly before he puts trades on and because he doesn't do that when they go against him he has no confidence tale of woe again you do get to feel weak they're out to get you you know whoever they are I mean why should mining rise for God's sake I mean it's just what they said in the psychology section of our training you know you feel absolutely like death warmed up when things go badly but ah God oh I'm tired not not crying just for the record but it just gets to you after a bit I have an uncanny knack for getting it wrong every time yeah [Music] the fifth week of trading after last week's extreme volatility a split has emerged in the group between those trade long and those struggling the biggest worry is expect Cleo who has just five thousand pounds invested from a possible fifty thousand shopkeeper amat is also struggling along with a rapidly declining Simon concern the investor Lex Van Daan paisa visits I did one morning with a man how's it go lots of [ __ ] news as is always the case in the bun market okay so this is the week where they need to make some money hmm in terms of trading P&L Caroline's actually the only person that's up so markets continue to be difficult I guess that's I mean that's one thing we have to say in their credit that it is not easy yeah in a difficult market it's a good plan to congratulate the best performer you are the best trader so far you know and and I don't think it's been luck at all you're doing the right things all the time from my point to you it's nice to hear you saying that you know I'm the best trader but what's very apparent to me is that you can be the best trader in the morning and you can be the worst trainer in the afternoon because the market turns and that's how that's how volatile the market is but that makes you the best trainer that you realize that right so well done Caroline's cool approach puts her at the top of the pile Mike's portfolio of arms companies and Emile's preference for branded names are also returning a profit but despite this the negative effects of Emmet's Cleo and Simon means the fund is down over 8,000 pounds the timeless piece of draggled on the desk right yeah ridiculous right now basically Cleo sent me at the end of the trading diary she wrote oh please don't they kept away from me I mean it's kind of nuts does she think this is summer camp either you know you would like to see a little bit more focus you know I don't think we can finish with eight people you everybody keeps doing it like this yeah I wouldn't be surprised if the pressure gets to some people and yeah people start throwing their toys yeah I don't mind if one or two or three people walk out because they can't take it so be it if things don't improve over the next few days Lex will have to take drastic action but by the next morning Simon is on the ropes as yet another trade looks to be turning sour what is it my baby Drax what's up falls on higher costs right so where do you expect this thought to go damn he's invested long into energy company Drax but higher gas prices are beginning to have a negative effect on its share price leaving Simon with an urgent decision to make ah it's just open 7:26 yeah right so what are you gonna do what's your strategies you're gonna watch it and watch it go down all day or you loose Elton gonna be flexible in you flexible in your thought process and Hoppus traffic I'll wait for an hour and then right what if it's at seven quid in an hour you're gonna sell them there yes right well if you're gonna sell them at seven quid in an hour sell em at 7:26 now like seriously think about what you're saying it's unbelievable nothing is unbelievable if you don't know what you're doing because your strategy there mate is if they go down I'll sell them if they go up I won't do anything fine decision I will sell them now now I know you're not I understand all that and I've done my best to react according to the circumstances I found them okay so far simons trades have lost almost 3,000 pounds better washing up run trading I think summing up the situation this is a good therapy I was pretty low yesterday and I don't win know where I'm doing I mean the shouting from Anton didn't really help you know he seemed to think I knew when I was supposed to do I was failing to do it but the reality is I didn't know what to do so it's not surprising I wasn't doing it as to whether I should have known that's another matter but it's it's hard going this hard going I am I really I mean I've given my all to this but it just doesn't seem to be working and I'm not sure there's so much more I can do about it the highs and lows of emotions you get in this business they're just horrendous aren't they without Simon the desk would actually be making money this week he's basically having a negative 120 percent influence I mean it's just it's insane if you're trading like that you're not doing a service to the rest of the team because you're just pissing away other people's hard work people need to get a bit angry and holding to one side like you're pissing away my hard work and that would be the conversation I'd be happy [Applause] we are under Russian invasion and the Russian of the patient right now never ever we will surrender never ever we will give our freedom and independence never ever will give any piece of our territory and three they will go to every part of Georgia I don't know they sent four planes and flew there no he said he shot them down very clearly yeah see now they must just control over the time you are five shutouts you Russian combat plane as week five draws to a close the Russian invasion of Georgia provides the team with trading opportunities companies in Europe with Georgian exposure to the front BP that BP pipeline runs takes sixty miles from it you've got a little short movie oh and close my game gas pipeline full of the so-called German military highway we're in week five so if you step back a bit and have a look where these guys have actually come from because they've actually started to trade like Papa traders Turkey Azerbaijan and Armenia the countries that border day Azerbaijan and Russia are close allies as of 3rd of July you see bp's right on that support line right yeah yeah could go right sir you know this is how you've got to think in trading and they're starting to get they're starting to get it ok I've got all the information about the pipeline here where it goes I'm I don't if it tells the Georgian conflict has unified the team has worked together to analyze investment ideas and boost their chances of making a profit yeah correct all bar one if you're trading futures it's primarily a hedge right yes that's what it's there for but iff is not a hedge is it is current I thought it was a basket of current no I with his confidence in shreds Simon is hidden from the crisis and is desperately trying to reevaluate his portfolio well when you say futures I was thinking of futures as in currency futures and that sort of thing no all right well you know we all learn we all live terminology right yeah okay right right right what's the point it's hiring to mate you know I come from IT in IT you write a program it works or doesn't work if it works it'll work like that forever yeah you know if it doesn't it's got bugs in it you could be fined about the banks are you fix them and then it'll work forever in exactly the same input you won't always get exactly the same output and that's the light the world I've moved in for 40 years but this is warm about organic precisely eat but even if the stock markets at the same level the share is the same level of every parameter is the same the output will still be different because the people that are trading from one day to the next but different because the human because they're human it's like almost efficient that's I'm used to having a rule book you know but you know pay are yes and these circumstances page 23 says you do that rip it off then you have the rule book safe okay and go forward in a completely different Ronnie I don't have to I honestly think I have to just back off I mean your trouble is when I do back off I still have no certainty that I'm like you to come up with better better strategy as a strategy if Hannah if Anton were such a tosser I'd be saying that to him but I mean you know what he's like you see you complete another tosser and I just find it ridiculous you don't hear words like that look for me very well no I know I you know I know it's how I feel I wish I could help you more yeah I do but unfortunately this is you this is a personalized for you with your thing hmm that's what's so stark about this business you make the decisions you stand by them you live or die by them well they're all just so many of them seem to be wrong you know [Music] red Clio is still having trouble placing trades the plan is to become invested but she's still not invested all her money and she's rapidly becoming a distraction to the others get in there honestly I used it over the penny and everything else it kills utilize position you've got I tried the right time yeah the bigger picture trade if you don't treat now clear your money will go what do we do about clear that what else can you say to her to get fully invested realize that you should get her booked up I know it's sad if you didn't offend I mean it's bits gone on for far too long it's like for weeks now Simon doing generally I think at this stage we need to maximize our opportunities and making money and he is not gonna make us money clear Simon our charity at the moment and I don't think we have lost time left for charity [Music] facing spiraling losses drastic measures are called for Lex Van Damme returns to take action as it's his money they're spending he has the power to reprimand suspend or even sack any of his novice traders to me you are etymology just a distraction and I found it quite difficult because I know you just have to take a punt and you just have to get in there but I'm watching like ten stocks and they're all on my watch list yeah but they're all at levels that I wouldn't want to buy them right now what sells and right now because I don't think they're in the right place to buy or sell but the issue we have is there's three weeks left I know right and you're not investing yeah it means like you're not gonna make a lot or lose a lot yeah so if there is no real use of you being here yes I appreciate that I can't afford to have you sit here for nine or three weeks I know employed to work no I appreciate that I appreciate that entirely I honestly I really appreciate those views I really do yeah and I really appreciate your views would you know because of you know we both really appreciate each other and that's really great no but you're not making progress I know I know it might not seem like I'm making progress but really genuinely I really am and the thing is yeah I just I just don't see the point in investing the problem is like we're having this conversation and you really appreciate my view but you disturbed me you're not gonna change your view anyway you can make your own rules and play your own game but this is like a different environment and you're gonna have to invest I believe so unless you tell me that you actually will I think it's no point in you being here yes I appreciate that in touch what is your conclusion from this conversation my conclusion from this conversation is I have to invest full stop Simon do say yeah for Simon it's time to face up to his losses this isn't working let's let's cut to the chase yeah it's making me demoralized unhappy you know I'm letting the side down I think I'm letting you down I'm losing you real money I appear not to have the right skills full stop I mean do you feel like you just had enough you feel you've been beaten you've been hitting your head against the wall too often the last time I had trauma like this was getting divorced you know another ten years ago I mean that gives our education of how you know awful traumatic I'm finding this experience so if you can't cut it and then so you basically putting the decision with me I mean I think I think it's time to quit I mean nobody could say you didn't go for it no Indira you weren't sitting here I lost needless to say for the police that I play you place the first tray yeah that's right and I thought it out it wasn't a random pin job you know but it fit didn't work no I just worry that's the way it is yeah absolutely okay man where's the pleasure I'm just closing everything for us yeah close them sort it all out yeah it's it's sad but well it's been an amazing ride and thank you for the opportunity that's about all I can say well Simon I can say it's been a pleasure yes to in toward the last no no I'm here to feel pleasure to have enjoyed the last a weeds review she looked really upset Cleo yeah because she knows she's at the bottom of the pile now that song is gone yeah it's always nice when you've got someone else in the office who's worse than you yeah [Music] I'm basically tidying tiling up going to the flat okay and then I'll chill out for lunch or whatever and then I'll come back here it I like that for we know about 4:30 yeah I think it's probably um probably best if the plans changed I don't want their week to start tomorrow no because then I move they're a little bit distracted to be honest with you but I just close today's trade yeah and then head off yeah close through those I understand it so today's trades and head off I just come back on 4:30 probably probably best not to bug in terms of in terms of drinks I just don't want to make tonight a goodbye Simon drinks if it if it just turns into that type of drinks then their Week starts tomorrow and it's um I wanted to stop now fine you know okay that's what you prefer that's that's probably by understand your motivation alright I don't take you personally no no don't I seriously it's not like that okay all right cool I just want to say obviously it's terrible losing a member of the team it's under no question no doubt that we all got on with Simon amazingly well and he's a top top guy great personality and amazing to be around in the office thanks very much and he's walking away from this with a big smile on his face you know trading just isn't for some people and and I think we should all give Simon a round of applause off the trading club okay right guys you know we have kind of wasted half a day so far to them it's as a team we need to get going get motivated get shop we've got fifteen days left and we need to make some money [Applause] they know the next two weeks are going to be tough and it can't take it no I don't know what's going on is not my manner of dealing with people that haze if he's not happy this is just the way the business works somewhere I should be keep you and I look to him always left right I have two more weeks left if you answer the question properly if they walk out then it just shows it's actually really difficult to make it to the end it's a fine line when it comes to being human beings and now you see all the people in the room responding to that city or no city and you can catch that next episode of million dollar traders next Tuesday at 9:00 there's more City chat over on BBC four now Gerry Robertson talks to be a boss really Walsh in the money makers and evan Davis heads into the world of risk in the city uncovered on Wednesday night at nine here on BBC two [Music] [Applause] [Music]

Channel: Lex van Dam Trading Academy

Views: 301,859

Rating: 4.8948078 out of 5

Keywords: million dollar traders, british reality tv series, financial tv series, lex van dam trading academy, lex van dam, learn to trade, 5 step trading, Turtle traders, richard dennis trader

Id: Qo03EF3okz4

Length: 59min 5sec (3545 seconds)

Published: Wed Jun 13 2018

Reddit Comments

[u/Savik519]

We need to bring this show to Murica. Although it would be a one episode run when everyone YOLOs into SPY FD puts and JPow busts into the trading room spraying everyone with his money printer. Roll the credits, shows over.

[u/mlinnelyst]

This is great haha

[u/SpeedyChingChong]

part 3 is hilarious. Emil simping for cleo might be the funniest thing ive seen on a reality show