Billion Dollar Day video analysis | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

Billion Dollar Day - Documentary 1986 68 replies

Forex soars to $3.2 billion a day 9 replies

Huskins, Daily Price action analysis Video Journal 20 replies

Attachments: Billion Dollar Day video analysis
Exit Attachments

Billion Dollar Day video analysis

  • #121
  • Feb 13, 2013 8:19am Feb 13, 2013 8:19am
Ok since nobody is showing interest on the interview I guess it will be pointless to publish here later. I will keep it for my own instruction.
So, you think you have rights? LOL
  • #122
  • Feb 13, 2013 12:35pm Feb 13, 2013 12:35pm
Quoting ForexOracle
Ok since nobody is showing interest on the interview I guess it will be pointless to publish here later. I will keep it for my own instruction.
Whoa there. You have an interview with THE William Wong? wow well done. I'd be very interested in what he says.

I'm sure you have an abundance of questions. I would like to know how he sees the relationship between institutional traders and retail traders. Also how does he see the best way to retail trade - is it to second guess the big guns or just follow their coat tails. Also how has charting and the home pc changed the game for the big boys and does he think you need fundamental as well as technical analysis. Also with so many using charts is it still possible to trade off prices alone or has chart analysis changed the way price moves throughout the day and made price trading impossible?
  • #123
  • Feb 13, 2013 1:24pm Feb 13, 2013 1:24pm
hi .wow !!! after watching them (had seen this video several month ago) , when they smoking cigars one by one (Hong Kong side was better!!) , jumping to trade

so quickly as without any more penetration , unjustified stresses and with nervous behavior , my only draw and understand for teaching from these videos

is that riskiness can progress by training ! perhaps coming to casinos and playing poker, roulette , slots! .... for that purpose

but don't forget that they were at that video been scalping some pips in price movement and we all know good about this advantages & disadvantages of

scalping like a gambling !

If you want have more info about these day traders you can read books about city boys and their biographies !

thanks
  • #124
  • Feb 13, 2013 2:50pm Feb 13, 2013 2:50pm
Quoting stevexyg
Whoa there. You have an interview with THE William Wong? wow well done. I'd be very interested in what he says.

I'm sure you have an abundance of questions. I would like to know how he sees the relationship between institutional traders and retail traders. Also how does he see the best way to retail trade - is it to second guess the big guns or just follow their coat tails. Also how has charting and the home pc changed the game for the big boys and does he think you need fundamental as well as technical analysis. Also with so many using charts...
I can't ask him more than 8 or 10 questions. Got your questions and some are similar to mine so lets see how the interview will turn out.
So, you think you have rights? LOL
  • #125
  • Feb 13, 2013 5:31pm Feb 13, 2013 5:31pm
Quoting ForexOracle
I can't ask him more than 8 or 10 questions. Got your questions and some are similar to mine so lets see how the interview will turn out.
OK, well don't forget to ask him if his 21mill can move the market!!
  • #126
  • Feb 13, 2013 5:46pm Feb 13, 2013 5:46pm
Quoting stevexyg
OK, well don't forget to ask him if his 21mill can move the market!!

Definitely! You can be sure that I'm gonna ask why they unwind their position the way they did.

I'm planing to only ask questions about the video, nothing else. Than depending on how it goes I can try to get a second interview. Maybe he agrees to record something in video. Lets see.
So, you think you have rights? LOL
  • #127
  • Feb 13, 2013 5:48pm Feb 13, 2013 5:48pm
Quoting ForexOracle
Than the camera cut to Richard.

At the start of the day all banks in the world are ----- to the same information. The question is will you make the best use of the information ----

'At the start of the day, all the banks in the world, are party to the same information. It's a question of whether you make the best use of the information at the end of the day.'

Interestingly, this sounds a lot like the sort of statement you get from a football manager on his teams prospects. 'At the end of the day' is a well used football cliche. However you almost never get the accent (rise in tone) with this saying that Richard gives it here. This is presuambly down to Richard using the words 'of the day' just a few moments earlier so he is just trying to not sound like he is repeating himself. A slightly lazy use of language but he's been up since 6 we can forgive him.

'It doesn't look like there is much of a trend at the moment. So as I say, we will just play the market on peoples positions really. Um, take a bit of profit out of it.'

Again the football analogy (play the market) comes through. But note also he mentions trend. So he's not just playing levels and fundamentals but also trend. Infact - and this is crucial - he says because there is no trend he will play peoples positions. That suggests that if there were a strong trend in place he would back it, ride it, rather than play the bounces off levels that he is planning? So we get a bit of insight into his system here. If no news backed trend, look for positions and play bounces off them?
  • #128
  • Feb 14, 2013 2:03am Feb 14, 2013 2:03am
Quoting skenobi
He had just bought at 35 if I remember correctly. Then he "made market" by quoting 30-40 wide (if I remember correctly) i.e. Paying 30 and offering at 40.

If nobody hit his bid i.e. sell to him at 30, he was just going to buy at whatever best offer in the market.
Thanks,

that's what I thought. I couldn't help hearing another "not" in his sentence, that's where my doubts came from.
I found a penny today. That's +100 pips for me.
  • #129
  • Feb 14, 2013 10:40am Feb 14, 2013 10:40am
Ok folks from now on I'm gonna slow down posting because is affecting my trades. I will keep with the analysis same way just a little slower. If you enjoy and follow the thread please feel free to pop in and post. As long as you post according to the thread's topic you can consider this thread your thread.
So, you think you have rights? LOL
  • #130
  • Feb 15, 2013 2:10am Feb 15, 2013 2:10am
Fascinating video, had seen it before. I was amazed at the lack of charts and volumes used. I don't think pro money uses charts to enter then or now though.

I was chatting online to some one who said they worked with Richard Hill back in the day. 'Deckard' over on HPC forum.
  • #131
  • Edited 10:21am Feb 15, 2013 9:39am | Edited 10:21am
Hey Neil thats great. Would you track this guy and ask if Richard Hill is still alive?

I was able to find the other 2 traders but there is nothing about Richard on the internet.

If you can give me a hand tracking this guy it would be awesome for the thread and all those following it.
So, you think you have rights? LOL
  • #132
  • Edited 9:26pm Feb 15, 2013 10:24am | Edited 9:26pm
Quoting ForexOracle
Ok folks from now on I'm gonna slow down posting because is affecting my trades. I will keep with the analysis same way just a little slower. If you enjoy and follow the thread please feel free to pop in and post. As long as you post according to the thread's topic you can consider this thread your thread.
You get a wisdom point for this realization.

I remember watching this video a long time ago.

My takeaway was this. What this video shows are two central methods employed by banks. Manufactured moves and piggybacking real moves. I think it was the Russians who the London boys piggybacked, and the HK trader they snookered on a manufactured move. The rest of it isn't much use for retail because we can't see the book.

If you spend enough time watching the charts you can recognize these techniques being employed (especially in consolidation areas or break out zones).
  • #133
  • Feb 15, 2013 10:33am Feb 15, 2013 10:33am
Quoting Fudomyo
You get a wisdom point for this realization.

I have to admit I didn't read the thread but I remember watching this video a long time ago.

My takeaway was this. What this video shows are two central methods employed by banks. Manufactured moves and piggybacking real moves. I think it was the Russians who the London boys piggybacked on, and the HK trader they snookered on a manufactured move. The rest of it isn't much use for retail because we can't see the book.

What's interesting about the Russians buying up Sterling was the London...
Good post Fudomyo you seem to be a smart guy.

Actually at the end of the documentary when everything is analysed I plan to put all the parts together. Chemical Bank, Barclay, the Russians and CMI.

This holistic view of the players in the light of the reconstructed PA brings you to amazing conclusions on what currencies where in demand back in 06-04-1985.

We will get there in time
So, you think you have rights? LOL
  • #134
  • Edited 10:33am Feb 17, 2013 10:22am | Edited 10:33am
Before we go further I would like to analyse a little more these pictures. I think there is some info we can use here.

I tried to enhance the screen capture so it gets easier to see.

On the top left corner first line we can see --- exchange position I cant be sure about the first 3 letters but it seems to be "USA" that could be the positions carried over night from NY, the one Richard was discussing with the NY trader on the beginning of the documentary.

still first line but top right corner it seems to be Barclay and the time.

than the next 2 lines in the left corner seem to be

MARKET POSITION..................81,473,457 SHORT..................OPEN POSITION
CUSTOMER POSITION................6,624,128 LONG.............................74,736,20 SHORT

The numbers are probably not 100% correct.

The interesting part is how the bank seems to be trading against their customers.

Note the huge short position against the smaller long customer position.

I'm just speculating but the dialog in the beginning between Richard and Barclay NY may had something to do with them preying on their customer positions
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screen better.jpeg Size: 300 KB
Click to Enlarge Name: screen better 1.jpeg Size: 549 KB
So, you think you have rights? LOL
  • #135
  • Feb 17, 2013 10:40am Feb 17, 2013 10:40am
Than we have

SHORT DATE PROJECTION.......................................FORWARD PROJECTION

Than we have the rows with what seems to be names and their respective money value.

It is really hard to read those names but on the left side I think I can see something like Jones

On the right side it seems to be CHARGES
Maybe somebody with better eyes can come up with a more accurate transcript.
So, you think you have rights? LOL
  • #136
  • Feb 17, 2013 10:59am Feb 17, 2013 10:59am
At 1:02 min into the video Richard Hill talks again.

Doesn't look there is much of a trend at the moment, so we decide we will just play the market on peoples positions --- humm take a bit of profit out of it.

Again my transcription missing some words. CALLING STEVE TO THE RESCUE

Anyways what he is talking seem to agree with the numbers of the screenshot last post. And the words "peoples positions" could very well be "our customers positions.

Of course they are not trading just against their customers but Maybe somebody opened a big bet long sterling the day before in NY and they are trying to go after it.
So, you think you have rights? LOL
  • #137
  • Feb 17, 2013 11:11am Feb 17, 2013 11:11am
And than at 1:10 min

BAM !!

Richard Hill and Barclay got cot cheating looking at charts

To bury once and for all the urban legend that professional traders trade based on the "TAPE" only
Attached Image (click to enlarge)
Click to Enlarge Name: Busted.jpeg Size: 675 KB
So, you think you have rights? LOL
  • #138
  • Feb 17, 2013 4:12pm Feb 17, 2013 4:12pm
Quoting ForexOracle
And than at 1:10 min

BAM !!

Richard Hill and Barclay got cot cheating looking at charts

To bury once and for all the urban legend that professional traders trade based on the "TAPE" only
Hi FO, terrific analysis as usual and excellent eyes on the screen type I can't see anymore than that I don't think. The little bit Richard says above I already translated on the previous page:

'It doesn't look like there is much of a trend at the moment. So as I say, we will just play the market on peoples positions really. Um, take a bit of profit out of it.'


I love your BAM moment but unfortunately I don't think that's a chart but a reflection on a plastic screen infront of Richards monitor. It looks like some kind of anti glare screen and if you look at 4:40 you can see the reflection move across the surface. What do you think?
  • #139
  • Feb 17, 2013 4:24pm Feb 17, 2013 4:24pm
Quoting stevexyg
Hi FO, terrific analysis as usual and excellent eyes on the screen type I can't see anymore than that I don't think. The little bit Richard says above I already translated on the previous page:

'It doesn't look like there is much of a trend at the moment. So as I say, we will just play the market on peoples positions really. Um, take a bit of profit out of it.'


I love your BAM moment but unfortunately I don't think that's a chart but a reflection on a plastic screen infront of Richards monitor. It looks like some kind...
Thanks for the help Steve.

When I first noticed this kind of chart on Richard's monitor I was not sure if it was a chart or not. But after playing with the contrast on the screen capture I'm positive it is a chart.

And honestly I think they have some technical analysis on it also. Barclay was making a killer speculating on the exchange market so they are more ahead of the game than Chemical Bank. Or they got ahead because they invested more, you know on better tools.

Note William's tradestation and the whole room compared to Barclay's. Barclay was years ahead.

Those lines on Richards screen could not be a reflection they are too perfect. Compared with the other reflections in the screen they are different, And note the vertical line in harmony with the wavy ones.

Thats some kind of chart with some technical study on it.

Also you can't find any paper charts anywhere in Richard's or the other traders table.
So, you think you have rights? LOL
  • #140
  • Feb 17, 2013 4:37pm Feb 17, 2013 4:37pm
Yes I can see from the still image that it really does look like a line chart but I think what we are seeing is prices on the screen underneath the reflection. They almost do look like fib lines or S/R lines! But you get the best impression from the moving image at 4:40. Look especially at the large rectangular shape to the right of the 'chart' it clearly moves like a reflection coming from behind Richard and seems to be on an uneven plastic surface.

In relation to charts the only thing I can see is behind the trader at 0:07. You see 5 machines. The two on the left and the two on the right seem to be FAX machines but the one in the middle looks more complex - could it be a chart printing machine??? There is a table to the right for analysis of printouts I would think.

EDIT: big printing machine at 0:24 too!
0 traders viewing now