Million Dollar Traders

Watched a very interesting documentary the other day about trading. I have recently written a few articles recently about the similarities between poker and financial trading on the Hendon Mob site. But in this programme, eight rookies were given £200,000 (£25,000 each) and trained for two weeks and then set loose in a trading room.

The architect of the idea was Lex Van Dam who was wagering $1 million of his own money. I was most intrigued to see how these various personalities would cope with financial trading. I know they are rookies but it is blatant that some of these peope should not have got to this stage because they just dont seem psychologically suitable to me.

But I find it fascinating viewing and cannot wait for next week. One thing that I really ought to take on board though when watching this programme is in just how intense professional traders have to be and this is something that I havent been for a long time. But if these rookie trainee traders dont alter their methodologies next week then they are going to continue to bleed money and will just get scalped by the professionals who they are going up against.

I know that this is the reason for why I am not doing too well in the $1000 challenge. I am still about $1150 ahead but I reckon I should be at least double this figure but I cannot maintain discipline and even playing more tables has not corrected this slow bleeding of money.

I have played a few sessions of $25-$50 since the last thread but havent done too well. I had a short 45 minute session and won $217 after being $4000 ahead and then I lost two full buy-ins after getting my money in good both times. Compensated for that by winning one and a half buy-ins last night but I am getting frustrated because my playing hours have been dramatically reduced.

Interesting situation arose last night because I wanted to go back and play again about 2 hours after I finished my session. I had played with this player several times before and always done very well against him. I called Tony and asked him what he thought and the interesting thing was that this player had been playing significantly differently over the past 2000 hands.

I wouldnt have spotted this last year, either someone else was playing on this kids account or he has gotton educated since last year. Either way he is no longer a fish and I had to thank Tony for that one.

See ya soon

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