Forex Trading for Beginners Best Education & Trader Training Documentary 1 – 3

Forex Trading for Beginners Best Education & Trader Training Documentary 1 – 3

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Forex Trading for Beginners Best Education & Trader Training Documentary 1 - 3

this is lex van damme a man who's about to make the biggest gamble of his life he's bet 1 million dollars of his own money that he can turn eight ordinary men and women into successful City traders what I want to do is like one take people we have no previous trading experience and teach them how to trade I want to give them all the tools that I think are necessary to do this then I will give them some of my money and I want to make sure that they makes a warm up a top fund manager he's gonna set up the world's first hedge fund stark only by complete beginners with some training guidance and the promise of each being rewarded with a city-sized bonus at the end they're all hoping for success is it make money because no stress and if they lose money then devil be stress from all walks of life these novice traders have two months to show they can make it in the city I've locked in a hundred pounds where he but what none of them realize it's just how hard it's gonna be I've seen really mentally strong people become psychologically destroyed by the world between or enlightenment because in this game every decision cans ah it's just open 726 what if it's at seven quid in an hour you're gonna sell them there yes right well if you're gonna sign with seven quicker than ours celibate 726 now think about what you're saying it's unbelievable I don't really know what I'm doing as if it wasn't hard enough they will have to play this game as the global markets plunge into the abyss 9-under quit like that as the pressure mounts will everyone make it to the end it doesn't matter anymore you've had your child you cannot let emotions get in the way if you get upset then this year last week okay I'm taking a huge risk here and if they don't care enough then I'll make sure they care can the beginners become profit making machines or will the cost of success be too high for their liking and send this million-dollar gamble into free fall there's a fine line when it comes to being human beings yeah and now you see all the people in the room responding to that City or no City with 1 million dollars of his own money at stake Lex van Dam alone choose the novice traders it has to be like a diverse group of people but they do need people who who are able to work very hard and were able to cope with a certain level of stress after 16 years as a successful trader he knows exactly what he's looking for to qualify for a place the applicants only need two qualities the ability to handle stress and be good at maths for the 32 x 32 30 x 40 so 904 1000 and 1214 what's much pressure you've ever been older I thrive under pressure actually what is 32 x 32 my brain is just not comfortable nine thousand nine hundred and forty-two would you screw someone over to get ahead I'm Ellen I wouldn't like to play for her tour with them whilst thousands applied there are only eight places or the 32 x 32 the first to impress Lexus secure a spot thousand 24 is 36 year old retired soldier Mike to Val I'm looking bet I I've got a lot of lot of good skills and I am raw talent after 13 years in the parachute regiment Mike reach the rank of Major before retiring to live in Jersey I've been thinking about living the army every day since about nineteen ninety-six you know Donna long stints of Afghanistan and I just thought you know can I can I do this again I've maybe had my time of selfless commitment now I just want some filthy lucre joining Mike are the remaining seven successful applicants who will all undergo a rigorous training program they've got eight weeks here so we need to make money over those eight weeks so we need to think about what it's going to drive stocks over that period if you can predict tomorrow's newspaper you'll be very rich nobody asks you to be awake every night but if you sleep really well every night there's probably something wrong that's the most you'll hear me speak ever from Lincolnshire 34 year old shopkeeper amat job in putra sees this as an opportunity to get himself a better life I mean just walking out walking out to the street you know it's different completely obviously you know instead of selling Mars bars and tea bags you know probably going to try and sell shares and vodafone some loud so yeah it's different going to find out more and see if I can cope with it and see if I can understand the subject a bit more the group have just two weeks to get up to speed and will be trained by leading city experts there's no right way to trade there is no rule book what there is is different people finding what suits there and makes money they'll cover everything and generating ideas uh we're interested in trading on the stock been filled BFD could you give to phoning up and placing a trade with the broker 45 or three-quarters 46 or three-quarters quite thin sighs enero solid from Croydon oxford-educated IT engineer Simon brew is key to learn as much as possible his grand plan is eventually to trade from home using his savings and provide a more comfortable retirement for himself and his wife well I'm just hoping you'll make our fortune what it will be our fortune anyway the deal is basically you feel no off yeah actually I'm seeing this very much as an alternative not career was once this is past line yes well just don't do Anna Gleason oh the team are also taught how to decipher highly complex technical analysis basically what it is it's a mathematical representation of momentum in the market as well as essential insights into trading psychology in all aspects of human activity there's a tendency towards over once you've understood the rules of the game the challenge is controlling your temper twenty-six-year-old clio folks is an ex vet who lives near stourbridge in the Midlands at the moment she's working for her dad in the family firm a 300 year old engineering and property business my family has got money but there is no reflection on me because it's there it's not mine and that's my opinion to life I've lived on my 20 pound a week budget I know how to budget money is a drive for me I'd be I'd be lying if I said it wasn't soon they'll be trading with genuine money and the profits and losses will be real exposing the novice traders to a whole new level of pressure the prospect doesn't scare Emil Coleman a 30 year old fight promoter from toxic in Liverpool for me it's about validation people assume on the open this is me and many different things and I want to be able to prove that maybe I can be a trader as well the British Chambers of Commerce says the economy faces a serious risk of recession fresh concerns about the health and banks around the world of again undermine share prices at one point shoes with the footsie down over 80 points of day one Monday mornings 5am with training over and the credit crisis looming their lives as traders begin entrepreneur and single mum Caroline Taysom is leaving her 4 year old twin girls in the care of the mother to travel from Winchester to the city I think the skills that I've gained you know sub control Stan and our determination real desire for business success are going to work incredibly well within the trade in arena 20 year old okie in McQuaid a from Tottenham is part way through in economics and maths degree the nature of trading is that money can come and go in such a flowing way they're almost like a living breathing thing it's important that you keep all of the range before you can control it highly ambitious these next two months will reveal whether he has what it takes to become a city trader finally environmentalists dr. Sam doobie the unlikeliest of all the traders is taking part to find out whether it's possible to trade ethically and still make money a good trader has to have such a good idea of what's happening in the world has to be so aware of the wars that are going on in Africa the droughts that are happening in India that floods in America yet the only focus is on the financial aspect of it and that's a real problem the eight rookie traders have been given their very own trading floor in the heart of London's square mile complete with computer terminals plug directly into the world's stock markets they have everything they need to start trading and the world's most scrutinized but least understood institution will be revealed as never before their first two weeks of trading will be critical million dollars for me is very significant and I can't afford to lose it if I lose it it's a disaster if I lose half of it it's half a disaster which is still a disaster if I lost five percent is humiliation if you lose anything it's terrible how's everyone feeling first morning early start although Lex van Dam is supplying the money he's appointed a supervisor to be his eyes and ears an eight-year veteran of the city Anton Creole retired from trading two years ago at the age of 27 a millionaire I know the feeling around the table is quite laid back in like white lace a furthest movie because it's the first day but like you've got I mean there's the news and stuff in the morning you've got to be really military unlike really you know get into what is going on in the world you know and then you can try and make sense of it right okay but you know the hours between six and seven thirty are absolutely crucial to your day right markets opening in one minute and let's go make some money these eight novices will operate together as a hedge fund if they're smart enough that should be able to make money whether share prices go up or down but before anyone can get a bonus the fund will have to be in profit at the end so individually they must invest wisely because all decisions made will affect everyone especially Lex van Damme oh ok busy running his own hedge fund Lex will phone Anton regularly to be kept up to date you just make sure that the people trained right that they trade their own opinions right you don't tell them what to do I mean it's hard to know if the people actually really understand that this is not a game but this is real money is my money I've worked hard to earn it and I don't want a bunch of people don't care to visit away oh you know I'm gonna suffer they will suffer with me so you're all if you know you need to make sure that people appreciate the risk right yeah good luck all right let's go she's all right speak soon yeah right thank you there may be a public perception of what a trader actually is which is loads of money Ferraris wild parties lots of women drugs going out all the time blah blah blah well I dare anyone to try this for a month see how much it affects your life you seriously do earn your money the big firm is it get their pound of flesh you know and you know these guys they've got a lot to learn in a very short space of time it'll be interesting over the next couple of days who actually has the confidence in themselves to take their trade idea and put the trades on here's a baptism of fire for the first two weeks the rookie traders have been given 25,000 pounds each to play with the markets open and through brokers they finally get their chance to trade the world stock markets I'm being really indecisive I know the fuck are sit on the fence come before it forever a save point exactly which I need to get over you know my brain is not flowing like it should be both I'm thinking about it too much I think the biggest part was with your online we should control suffice so much information I just generate an annual in your head waking it through because you can kinda justify anything to yourself and speak to someone else and what you thinking blossom it's gonna be you who you know will go that trade on your kind of be a measured on its success or it's not a success 406 p46 63 year old Simon is the oldest of the novice traders and has spent the last 30 years working as an IT engineer for IBM I love knowing how things work and why they work and you know I've got an a sort of statistical knowledge to be able to cope I hope and therefore I'd like to give it a go okay right I'd like to buy please 400 british gas he's the first to call the brokers and make a trade okay 1204 fine fine thank you very much good bye bye where spend some money right I took the plunge decided to place the trade for British Gas I'm hoping it's going to rise gently over the next few weeks its lowest today was 12 03 12 foot whoops it's just gone down to 12 03 what is in danger getting neurotic about this but you just have to move on and concentrate on the rest I'll probably remember this the trading decision for the rest of my life you know it's the first one I've made it's a big excitement and let's hope it's been successful to control risk the traders can only invest 5,000 pounds in any one stock Dallas believing british gas is a safe bed Simon's invested the maximum allowed though Fiji he's gone right up to his maximum position size immediately right that's it all right if you do that in a portfolio as a professional to me you have absolute maximum conviction that this stock is going up right and it's almost like you can't be wrong if the stock does nothing for three days or goes down for three days consistently you know it's gonna drive him absolutely mental oh look at this standard 1186 that's awful I keep saying I mustn't let it upset me but of course I keep thinking I wonder what it's doing and that is in fact distress tingly from the main job I'm supposed to be doing the main job I want to do now which is look for other trades that will actually perhaps compensate in performance right I'm going to close this chart and concentrate on my next job if I you get neurotic staring at it and that's definitely a mistake this is awful 1185 oh my god i'm looking at halfords the code hfd and then yeah can I get honey chairs of that then please 100 by the end of their second day several novice traders have taken that first dip into the markets unlocking at Admiral can I get a face like dominoes please do I can I sure that if it goes to 189 please follow me ultimately they have two methods of trading available to them buying long simply making money if the share price increases or selling short a complex deal that involves borrowing selling and then buying back shares this allows the trader to make a profit when the value of a stock goes down Reaper it's Caroline corny from traders hello I went well i'm good i want to place my first trade please ok well i'd like to buy titan Lyle title n 42 year old single mom and entrepreneur caroline has always wanted to work in the city fantastic thank you ok goodbye although she's determined to succeed she finds the idea of selling short or profiting from the losses of others hard to stomach it just it does it seems hopeful that you can sit here as a trader and wish that the value of the company would would go down so that you can make money on it it's really am morally quite bizarre thing to do yeah and somebody yes but a lot of years building up a company to sort of lose the lose the control however that just because maybe another company in your sector is some you know it's performing particularly bad and you get pulled down with them it just seems horrendous box that's for real bugger former vet cleo is less concerned about the ethical issues of trading shown during training to be a highly intelligent structured thinker it's believed she has the greatest potential in the group I think its environment that I'd be really good in its fast-paced which I thrive in its pressure driven again which I thrive in and I love the way that these huge macroeconomic issues impacts on all the stocks and this type of thing and how everything is interrelated I just find it really really interesting it's a global event that gives Cleo her first trade let's go straight to our top story this morning investors reacting to mounting and stability within the Middle East it obviously has everybody here concerned both on a personal level as well as a collective business confidence level as the saber rattling goes fordham a missile test in Iran causes Middle East instability and as a result oil prices begin to rise sharply it spells bad news for heavy fuel consumers jumping into the market Cleo's quick to short sell British Airways betting their share price will fall as their profits get hit by rising oil prices it's a good deal but her caution is getting the better of her she's only traded 200 shares by far the smallest investment of the group you know it's more it's more I wanted to just get through it I know that sounds awful and I know that's completely the wrong rationale but I preferred to place one small little trainees the first time I've ever do you dallied with anything like this oh no it's it's down to I'm so sorry I'm gonna keep myself under wraps now just forget about it sorry guys really sorry I'm gonna control myself knowledge oh my god it's just gone again i watch me I'm really sorry the times wrong what have you done okay 25 year yeah I see two homies I don't think baby ah high quality products exciting right now for that picture emotions on one side the life of the trader is all-consuming long days begin with very early mornings the team is expected to be in the office by 6am working out their strategies well before the markets open at eight their screens come alive falling shares turning red rising shares blue take the fair five on the shot hello sports direct everything comrade about it but after three days of trading the team has so far only invested ten percent of the 200,000 pounds currently at their disposal but it's not the amount that's worrying it's the commitment of some of the traders if you leap with joy or Simon yeah what price of be BG Group in the auction 11 my staff is 1160 their 1159 now rice are they in the auction you're out late I think you'd better check away from his desk when the market opened Simon is unaware that his shares in British Gas of plummeting and losing the team Nani you may recall I placed a trade yesterday on British Gas I'm you can close out Oh Bob cap toe position yes pretty good right so what was the closing price please Simon shares have fallen so sharply they've been sold on automatically 1158 right okay known as a stop loss this is an order with a broker to close a trade if it loses too much money gloom and despondency overnight Simon's trade has cost the team 250 pounds just forget about it no not I'm not stressed I just want to explain why why I did what I did to see whether I couldn't I should have done anything differently you'll have a proper chat about they sort of yeah good morning now absolutely don't worry about what's up and no no I haven't no honest as it stands now as it stands now you've got no positions that's right I so narrator might be slight is the slate is clean so start again yes absolutely now if you take me very much in that way banco ahora me little bit concerned about his behavior very lackadaisical and uh right you know how to shout over to to be honest with you I'm just a little bit pissed off and I just don't you know you cannot behave like that on a trading desk you know it just shows it just shows a really bad attitude towards investing somebody else's money in the market if you behave like that in the real world in the real world of trading like your career is going to be very short-lived there are however some within the group who are showing real promise both fight promoter Emil and Sam the environmentalist have made money you know I feel a bit ill when I place one of these things I really like it Jesus yeah believe it sound like a I don't find a pleasant myself yeah I find it really uncomfortable feeling how do ya ya know I kinda get I had it like that general makes me feel exactly like I felt when I was a kid lying I think it's just because I'm making a decision based on a best guess and I'm not used to guessing I'm used to being adorable don't you think this shows the fallacy of it that the fact of that like you know in reality no matter how many charts we look at no matter how everything else not we go on how we feel that's exactly know so many gambling's why that's why I'm not going past yeah yeah i gamble there's only one person left in the group who is yet to make a trade having just left the army Mike now wants to be a professional trader half the game here is is timing you can have the world's best trade if you like but if your if your timing is wrong you don't make a profit or worse you make a loss beginning to think I should maybe just grow up here and get on in there and then just just work it as it goes but um it's just get the you know just like parachuting it's taking that first step that's difficult and then actually after that you find well until you've got to pull the red handle maybe but I don't want to have to be pulling any red handles you've got to take risk to make money of course you can lose but if you're not invested you cannot make money it might as well just be in the bank at earning 5% it's concerning because you cannot succeed in this business behaving like that you'll never make money you did the last thing the economy needs right now is for the standard mortgage bigger to be turned off in terms of these two companies they owner guarantee about half of one trillion dollars of us mortgages take a look at Freddie Mac it is off by more than one-third losing one third of its value this morning the government is going to be absolutely bound and determined to do whatever it takes to keep the money flowing to home mortgages only a week into trading and the novice traders are dealt a heavy blow us mortgage giants Fannie Mae and Freddie Mac hit the rocks and the world's markets real in shock the trading screens turn red showing a massive fallen shares across the globe as 35 billion pounds of investment vanishes in a matter of minutes I look at the dollar versus the euro the pounds now right the dollar is likely if this continues to get smoked what in the end the taxpayer has to plug that gap right yeah the US government has come out and said that if Fannie Mae and Freddie Mac go to zero then they'll guarantee the debt the markets taking it negatively because the government's facing admitted that there's a possibility that they could go to zero right and if they bail them out we're talking hundreds of billions of dollars right and who ends up papered the US consumer I mean to anyone who's been in the industry a long time this is like proper scary stuff you know and the entire basis of the US economy changes if this it happens I mean the u.s. is over for a generation if this happens potentially this is why the markets are so volatile this is why the world is in a complete mess of the moment and no one knows what to do because there is no light at the end of the tunnel 3 3 19-25 threesome barred by k and that's a thousand thousand shares that you thought I get Mia great thanks alerted the global credit crisis has spread to British shores and Sam the ethical traitor in the group rapid rise spots a chance to make money mortgage lender lights investor has now found a buyer allowing the company too sure of his finances after losing two thirds of its value over the past year and I'll Spain's biggest banking giant Sant and air has announced a takeover of alliance and leicester quick to react he buys a thousand shares they rock it and make the team in instant 200 pounds 32 and a half yeah good one 328 see hello he's just sold them superstar make three thirty two and a half yesterday I read in their story on alliance and Nesta so um I bought some shares in them that made the shep I still up and I told them I made some money from reading a news story I didn't do anything um that's that's the nature of the game really you're not doing anything solid impressed by Sam successful investment retired IBM employee Simon also jumps into financials hi okay not sure yet I just I placed earlier a by limit order on bradford and bingley okay it's just being filled so oh cool okay hope for the best all right buying longing to bradford and bingley he hopes to see their share price rise for less than an hour after he places the trade its share price plummets very much long in bradford and bingley didn't work really bloody hell sorry about that it's very frustrating this is just unbelievably complex business you've got to keep your emotions in check you've got to do the analysis you've got to do your homework there's so many balls to keep in the air and maybe different personalities are better at coping with short-term decisions and maybe I'm better to concentrate on a few long-term decisions long term trades rather than leap in on the basis of follow me as it were which is what really what I did it Bo for the Bingley Simon's decision to buy into the UK's largest buy to let mortgage provider at a time when many are going to the wall obviously ridiculous right hasn't gone unnoticed by legs and Anton clearly is mines just in the wrong place like if a fleas lot then like it such as him I mean there's other people in the group that just for whole the general level of focus of the group it's just too low like these guys are just not intensive of greater concern to Anton and legs is that those who should be showing the most promise are also struggling oh hi um it's clear from trace again that Luke hi Luke I put a sell order in with Rupert for GSK access miss Klein feeling the pressure Cleo has sold all her stock and now has nothing invested oh man look on strict stupid idiot folks I think I'm i think the might be that an issue with a would clear right she's just tried it out of her only two positions which was work to a tiny anyway her now she's little zero risk no she just read the rethinking it now maybe but I think the way she did she lost competencies lost confidence just take me Lawson it's gone down you are I like trade it if you wanted to generate ideas and you want the book to go up and you want to be confident so you want them to be upbeat but at the same time you've got it you know you've got they've got to be disciplined because some of the stuff they're doing is not so far the team have only invested 40,000 out of a possible 200,000 pounds they've been trading in the worst market conditions seen in years and although they've had some successes overall they get to make a penny it's definitely being noted over the last couple of days that some a lot of crucial things in the market that's been coming as has been missed by people things like being on the desk when the market opens popping off for 30 minute lunches like it's just absolutely not acceptable yeah I had in eight years two lunches outside the office okay as a team to make money you really need to be here because if you're not you don't stand a chance we're in the worst trading conditions that we've been in for a generation but if you want to give yourself the best chance of making serious cash I'm beating the professionals you're just gonna have to step it up like massively get him take it to the next level okay nobody ever said this was easy but God it is a lot more difficult than certainly I never expected extremely difficult I think it's just gonna be quite a steep learning curve for it horse it is I know that's no one's no one is doubting but whatsoever days all right thank you okay with old are you hey business it in person yeah it's difficult we know I don't mean I try any harm and hassle no but you can now I call yeah let's see it saman you definitely look now let me place my or try I'd rather do that frightened eyes okay let's talk about it later the end of the week wand and so far retired soldier mike has only dabbled in the market Mike knows he needs to make money at least to see a bonus and with aspirations to become a full-time trader he wants his first meaningful tray to be a statement of intent I'm just extremely extremely competitive I were a heart rate monitor so that I don't run too fast sometimes I have to reign myself in because it you know it did forces you to places where you don't you know you don't really want to be like racing my girlfriend getting dressed and things like that bye bye Victor y 5 7 5 10 5 6 or 10 5 75 his trade idea is a highly controversial in risky one just looking at the opening prices on H boss there is a you know people are staring at each other you know across the city you know who's gonna win this game of bluff a cashflow crisis for Britain's largest bank h boss has forced them into a rights issue which means going to their shareholders and asking for more money mike has calculated that the rights issue should go well sending its share price are catching ok that's a good snot that's that's the side of the boat we want to be alright but you wanted to cover his position mike has decided he also needs to short sell German bank aliens as the underwriters of the rights issue they will have to pick up any shortfall a potentially huge liability which could see their own share price fall this trading strategy is known as hedging it's the essence of how a hedge fund works if he's right he'll make more money on this deal than everyone's trades put together I but Rubio Heights market traders how you doing me Mata kinky I el sur de the 1k 110 slinky 3 euros right that's right sold 46 aliens at 110 spot to three euros gopher H boss HBO s ln vault yeah 1419 278 spot 25 that's right lovely nothing business really make that key mate cheers about well done I mean there's risk in every trade but you know I've worked through the numbers and my you know my downside risk is is far smaller than my upside gain and if it comes off well you know we'll make a lot of money for the team the second week of trading and as world markets become more unstable the pressure to make money intensifies the government has come close to admitting that the fiscal rules that set itself for managing the economy can no longer be met about curriculum has kept interest rates unchanged at five percent as it struggles to respond a fif--is play assisting no decision had been taken on rewriting debt levels were careful not to dismiss the idea everybody's thinking of the credit crisis at the moment uh-huh and all you know basing all the ideas of this credit crisis yeah but its total total risk it feels like we only look at all trade bill yeah everybody is obsessed by listening then the other thing is like yes tell people if I keep trading in such small size you must make any money and they're not going to get more money and they're not going to get paid at the end of the period because they haven't made any money so there's very little bit larger so basically first week really boring was fine secondly boring is not a good anymore for this hedge fund to be successful and make money everyone must invest their cash failure to do so could result in their removal from the team please rally at the beginning Cleo was highlighted as someone with great trading potential but after starting with immense self-belief her confidence is collapsing with no trades in place she must get invested to stay in the game do I think I actually hate this oh hey idiot why didn't I just love you buy it she's actually really scared about trading which is a little bit concerning I think I might have to go and speak to her later take her out of it out of the office or something because yeah I can see that a heads a bit all over the place and she's really scared about pulling the trigger I just can't commit to it I just can't commit to it you know you don't look it's very very difficult it's business okay um you know it's bad it's hot it's difficult time infection it's just a glad to take that abstract full process and that those ideas those trade ideas yeah and put them into practice and then manage risk okay there to really difficult different skill sets were you're indecisive because your affection is right and you can't have indecision in the business I know it's so bad this okay you go telling myself fell back nothing ventured nothing gained to put it on just pity on those fit though firing about just accept you notice except but you cannot be right a hundred percent apart it's impossible hey it's absolutely impossible I'm frustrated I'm frustrated at my lack of knowledge massively frustrated by it and that spills over in this you know this this sense of being and I honestly I feel like a lamb to the slaughter at the moment all right now now I feel pressure that I've really got to find trades to put on and you know what it's good to have a bit of pressure in this uncertain market I don't feel that that's necessarily the best thing because the last thing I want to do is put on trades just so I've got positions but I'm almost feeling like I'm being pressured now to put on trades purely for that reason just so I've got positions just so my captors invested but when the market is this volatile I don't think you know I think unless you can really really read it then you're gonna perform really oh god look where it's gone no wonder it's for his third trade Simon believed he was playing safe investing 3,000 pounds in insurance company raw sun alliance I've got an open position on our essay which I'm getting a bit nervous about it had a terrible day it's some fortunately majorities in the House today I was thinking of lightening my position by buying say 800 that will be one third of them roughly and then lowering my stop to stay in the market for the rest if you do that right let's let's make a decision could I by 800 800 and whatever the market price is now 50 years before Simon has just made a fundamental mistake to reduce his risk he should have sold 800 shares I'm gonna say you've got a sell stop loss on you know I go by stop loss you've gotta beg your palm I'm so sorry sidley I've gone completed the wrong way right this was what this was about eight hundred ninety ah well could she seldom came that was a mistake simon i'm showing you 1600 now is that correct correct place salma 15 spot ones you making a loss on that shit this my luck so let's just say this again very slowly you have sole 1,600 1,600 at 115 115 spot where spot one cracker meant for evil ok done thank you cheers in the space of a two minute phone call Simon has cost the team 200 pounds so far every deal is made has lost money I made a small mistake so he basically shit himself here went to sell a third of the position I ended up buying it revised right and then he realized what he'd done and then try unit went to sell double the amount to get his position correct and then he's a involved in fev of spelling yeah if you say bye when you want to face tell you know it just means that you know you've got shit for brains well yes what it means you know it totally switched off he's panics shits himself lost his mind and done the trade the one way around I'm pretty annoyed because like there's mistaken his mistakes yeah you have to think about what we gonna do about it yeah yeah clear was a bit of a has been a bit of an issue in the last 24 hours she's actually scared of having physicians alright we were off the desk day for an hour and a half and I've got shit to do you've been now and half it there yeah because she's crying to nobody okay cry for now on our someone who's never traded before who's scared of trading one week into this exercise right that's a person who can cry for an hour and a half great Bona shit for brains and the other ones start crying we doing well here yeah it's Judgment Day for Mike's biggest trade the results of the H bus rights issue our aim and it's not the news Mike wanted to hear each boss Britain's biggest mortgage lender race about four billion pearls and a rights offers a surer of its balance sheet the trouble is most of the shareholders didn't actually take up their rights to the chef today shareholds bought just eight percent of the stock on offer leaving the underwriters morgan stanley and r is no time with a bit of a headache under Isis will try and get subscribers I don't need always longed to somebody's long hate box yeah what do you guys yeah it's my hairy just come to keep an eye on the place this monster yeah he's on it yeah somebody good news on that people with HP was falling Mike short sell in German bank aliens isn't working either come on edge boss despite the problems its share price is unaffected I'm hey not my ass here Jesus Christ my reason what is a ratio telling me you're being told you that I'm down about four percent right on the break Kevin bitch say cut his eight thousand pound pairs trade is now losing money it's not good not good and he's provoked the wrath of Lex van Damme hello hello okay thank you hey hey hey mom how's it going okay if the age vaght yeah Mike know what's going on I don't know he has spoken to me it was mad that itself to go long h boss you know he's even waiting for week to trade and then this is the best thing he can do was just stupid okay you know he's just sitting there in the ocean maybe the wave goes the right direction and maybe cuz the wrong direction and we both know the way their training at the moment it's always going to go to wrong direction I just listen I'll just go get I minute ago alright cool / PF right like I'll require to cut that position we're down about five just under six percent okay so you'd the cuts they're cut it move on don't feel bad about it it's shit happens and this is just one trade I'll tell you many that will have my ceiling yeah come right so if you want to do that that's cool okay yays gutted but like I'm looking at this personally as a trade that could have gone massively right and a little bit wrong and it's gone a little bit wrong you know he spent an entire weekend probably thinking about who walked in and lost money right and that's just the life of a trailer Newman hello Luke it's mike at my page boss cell 14 19 right put it in for 267 spot 25 if you can do made up at dawn for your MH box ok al Vee I'm a buyer for 46 don't play me fuck great done thank you yes Mike's trade has cost the team 500 pounds let's say yum that's quite a loss to to take on board bitch is trying to go back in and them and find another one the UK's biggest mortgage lender Halifax bank of scotland has announced that its statutory first-half profits plunged by seventy two percent to eight hundred and forty-eight million the bank blamed the loss on the credit crunch and also reported an increase in bad debt as the traders reached the end of their second week of trading their face with that biggest test so far we are waiting numbers earnings reports from Citigroup they're due out any second from now we'll bring you those numbers as soon as they cross we are Citigroup the world's largest bank is about to announce an earnings report in the financial world this is a global event and will have a massive effect on the world stock markets if the team properly hedged their investments the funds should be able to cope with anything the market frozen it I'd like to sell a go short it bun with market confidence in the banking sector at an all-time low right thing okay the novice traders of predictors a figure will be bad one thousand would be convinced there's an opportunity to make some quick cash they all go short 253 well I like to put in an order to sort 900 of them please okay i want to sell short eh enough ah 697 700 ok also can i can i have 698 society bit Dave 697 bit he went to the southern signal j yeah so short that's my biggest train how much I'm in three grand hola back in Jane I use that hi rivets the meal okay sorry okay key look at domino's from with dr m do m in total they short sell sixteen thousand shares a massive 41,000 pounds in the hope that prices will fall baby go down go down but not one of the traders has hedged their investments by going long in case prices should rise a potentially calamitous mistake well it looks like these numbers are better than had been estimated carol and we are actually seeing as we speak the futures really pairing the loss is very rapidly as I look at my Bloomberg terminals you can see what the shares are doing in the pre-market are ready up by three percent so I'd also so with that annoyed you noise is going out only fraction so if there's something else for the novice traders it's the worst news possible the figures are better than expected the markets immediately rallied and share prices rise across the board this morning short selling frenzy has left the team massively expunged and they're losing money fast Tamia absolute day us 49 just making sure that we're meeting what's going on because there is but Sean title or 330 from a position of profit the group are now facing a heavy loss was like monopoly today great everyone's just go for it it's quite it's quite it's quite a nice atmosphere actually in the office even though we're all hammered room you're hemorrhaging money it's absolutely typical I think a lot of people got into banks because it was a hub of about banks yesterday and everyone has got absolutely tranced on it if it was one person getting absolutely chance I think it'd be quite difficult but because everyone's in the same position yeah it's fine I think the new the mood is pretty good considering they've been trading for a fortnight and so far they've only lost Lex's money okay happening three thank you hello so up tupido not gonna like you're not gonna like I'm not gonna like again down two and a half run you're joking no are you hear it see me wow that's a lot you know I am actually but the goo get a little bit of stabbed I'm not the type of guy to you know humiliate people in front of a group or give people shit for not for no reason you know but you know if I have to give them shit it's for their own good because if I don't legs for walking one day and just destroy somebody in front of everybody and that's not going to be good for anybody what's going on the people who are doing their conquers today are people who have shorted on the open and bought nothing against it right market moves half a percent and look how much money you can lose from a half a percent move in the market you've been Muppets like you've shorted something naked from after all the conversations that we've had right I'm not on it hasn't even entered your mind to buy a UK bank against it given that financials are the most volatile sector in the world right now yeah you've got to learn from your mistakes it's risk management naked punting is for idiots and if if you're down two grand today as a group yeah and you multiply that by 45 days that we've got left you're going to be down 90 grand on 500 grand what you want me to do like put everyone up against the wall with a gun to the head and say fucking manage risk your trading with somebody else's money you know if this was my money I'd be so scared you've got to seriously think about what you do and the risk that you're taking because we walked in this morning I don't think anybody thought we'd be down to round this morning right no one thought that but guess what four hours later we are this is the week where they need to make a run mmm oh it's so kill me I don't need to feel this self worth at the moment we are under Russian invasion and the Russian occupation rights hecky Azerbaijan and Armenia the untreated for today like this is gun to the head time fine decision I will sell them now look I'm not telling you what to do now I know you're not I say if it's legal the morality is irrelevant is that what you're saying so it's a bird world I think of me being self the bastard in yer the most time I had trauma like this was getting divorce if people walk out because they can't take it so be it continuing the City theme Oh from BBC for Jerry Robinson meets Britain's first ever venture capitalist and charlie brooker's got a thing about TV shows that come with a mission to achieve and he's firing off again next on BBC two you

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