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Billion Dollar Day video analysis

  • #21
  • Feb 1, 2013 9:33am Feb 1, 2013 9:33am
Gosh! Thats good stuff Steve. Thanks

English is not my first language and yes the British accent makes it harder.

Since you are from there keep my transcripts in check ok?

Really appreciated.
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  • #22
  • Feb 1, 2013 9:48am Feb 1, 2013 9:48am
Quoting ForexOracle
Gosh! Thats good stuff Steve. Thanks

English is not my first language and yes the British accent makes it harder.

Since you are from there keep my transcripts in check ok?

Really appreciated.
Yes, no problem FO.
  • #23
  • Feb 1, 2013 10:00am Feb 1, 2013 10:00am
Quoting stevexyg
Richard is stressed by the job definitely. But despite that I think his trading decisions are removed from that stress in a way. The fact he can see the humour in the notion of things going badly says to me he has a balanced perspective on the trade and for that reason he stays calm under pressure and would make considered decisions rather than rash, reactionary ones. I think the fact the losses aren't his (Barclays) could be the reason for that OR more likely that he understands and fully accepts that if you don't keep cool that's of no help and...
Again Steve, nice stuff. But I don't quite agree with your perception of Richard Hill as a trader.

I don't want to got to other parts of the video yet but everyone that saw this documentary before remembers him losing his cool with a fellow trader, slamming his hand on the table biting his nails etc when things went bad.

Actually I remember the first time I watched it thinking that for a British he was a very emotional guy.

Rony Schlapfer also lost his cool when things went bad.

The only guy cool all the time was William Wong even when he was experiencing draw downs. He laugh, I found it pretty cool.
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  • #24
  • Feb 1, 2013 10:01am Feb 1, 2013 10:01am
Quoting ForexOracle

Ah, listen, can you please tell me what the cotes are for sterling and deutsche mark in Australia?

Yeah, in Australia now is 3 0 -------

You're doing excellently considering this isn't your first language!
Only other thing I've noticed is this - for 'cotes' try 'quotes'.
  • #25
  • Feb 1, 2013 10:06am Feb 1, 2013 10:06am
Quoting stevexyg
You're doing excellently considering this isn't your first language!
Only other thing I've noticed is this - for 'cotes' try 'quotes'.
I did it to try to reflect his german accent.

Just kidding ! Checked, next time I will write it properly.
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  • #26
  • Feb 1, 2013 10:39am Feb 1, 2013 10:39am
Quoting Seneca pilot
I have watched this video many times. It is fascinating to watch trading back in the day. I was fifteen when this was filmed. Wish I knew then what I know now.

One thing of note, when you watch the video. Each time you get a look at the trader's computer screens there are no charts. Guess that dispells the idea that you have to have confirmation from several indicators to take a trade.
yeah all we really need to know are the high and low of the days...and wether price went up or down...
tradewith60
  • #27
  • Feb 1, 2013 10:48am Feb 1, 2013 10:48am
Quoting ForexOracle
remembers him losing his cool with a fellow trader, slamming his hand on the table biting his nails etc when things went bad.
Yes it's very interesting. Clearly it's not easy to see what's going on inside someones mind but yes I do agree he's getting very stressed and frustrated by not being able to create positions at the right levels due to the market moving too quickly, but I'm not sure if that stress would effect his trading decisions. I think due to his naturally very relaxed disposition that he has the stress and his trading decisions separated in his mind - unlike most retail traders who over trade or make bad decisions due to stress. So for instance I couldn't see him making a rash decision to unwind a position prematurely due to stress. Could be completely wrong of course most of that is speculation.
  • #28
  • Feb 1, 2013 10:52am Feb 1, 2013 10:52am
Quoting ForexOracle
I did it to try to reflect his german accent.

Wunderbar!
  • #29
  • Feb 1, 2013 11:06am Feb 1, 2013 11:06am
Ok, everybody feel free to comment on anything related to the documentary. But as I promised I will post some vintage videos about bank traders around the world.

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  • #30
  • Feb 1, 2013 11:32am Feb 1, 2013 11:32am
Same place different take. Notice how people here look a little older, just a little.

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  • #31
  • Feb 1, 2013 12:28pm Feb 1, 2013 12:28pm
Barclay Lisbon, Portugal. Very humble forex desk.

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  • #32
  • Feb 1, 2013 12:33pm Feb 1, 2013 12:33pm
Little more recent stuff, but still vintage.

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  • #33
  • Feb 1, 2013 2:01pm Feb 1, 2013 2:01pm
Hey Forexoracle,just a small point.
The Harlows videos show brokers, harlows was one of about 6 interbank brokers in london at that time. The other video just shows the ny office.
they quoted the banks a running price,eg barclays.
The speaker boxes in Barclays,which the traders are listening to, are the brokers quoting their prices.
  • #34
  • Feb 1, 2013 2:26pm Feb 1, 2013 2:26pm
Quoting jazzman
Hey Forexoracle,just a small point.
The Harlows videos show brokers, harlows was one of about 6 interbank brokers in london at that time. The other video just shows the ny office.
they quoted the banks a running price,eg barclays.
The speaker boxes in Barclays,which the traders are listening to, are the brokers quoting their prices.
I made a mistake sayind that there is the same location from another angle.

Sorry my bad, but since we are not discussing those videos I'm just posting them for entertainment only I believe its ok.
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  • #35
  • Feb 1, 2013 2:50pm Feb 1, 2013 2:50pm
Quoting ForexOracle
I made a mistake sayind that there is the same location from another angle.
Quoting ForexOracle

Sorry my bad, but since we are not discussing those videos I'm just posting them for entertainment only I believe its ok.


Yes absolutely,wasn't a criticism, i'm enjoying the thread.

all the best
  • #36
  • Feb 2, 2013 4:10pm Feb 2, 2013 4:10pm
Not sure if pure forex or something else with it but still vintage trading.

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  • #37
  • Feb 2, 2013 4:18pm Feb 2, 2013 4:18pm
This one here is interesting.

Note at 3:10 into the video the asian guy screaming. I NEED TO GET OUT OF THEM!

Hilarious!


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  • #38
  • Feb 2, 2013 4:28pm Feb 2, 2013 4:28pm
I wonder if back in the mid 1980's banks were much more strategic and dynamic in hiding their bets. Such as slowly buying into a position little by little, or even buying just to sell at a better price. Anything to avoid showing their sentiment to the other bank players. Today I would imagine that it's extremely difficult or even impossible for 1 entity to move the market given the hike in volume over the decades.
  • #39
  • Feb 2, 2013 4:40pm Feb 2, 2013 4:40pm
Quoting SemperOorah
I wonder if back in the mid 1980's banks were much more strategic and dynamic in hiding their bets. Such as slowly buying into a position little by little, or even buying just to sell at a better price. Anything to avoid showing their sentiment to the other bank players. Today I would imagine that it's extremely difficult or even impossible for 1 entity to move the market given the hike in volume over the decades.

Thats the intention of this thread and subsequent ones. To try to understand how banks and their traders think.
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  • #40
  • Feb 2, 2013 4:45pm Feb 2, 2013 4:45pm
This guy is like the modern non Asian version of William Wong.



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