Sep 08, · The BBC is not responsible for the content of external sites. Read about our approach to external linking. Piers Curran of Amplify Trading makes $8, in two minutes on a high risk currency trade. Jun 22, · The secret to profitable trade on the Forex! How to get a profit of , - , USD per month. Individual education profitable trade on Forex. Jun 17, · Home» Trading Blog» Order Flow» Billion Dollar Day – BBC Documentary Back in a documentary was released by the BBC showing off three currency traders in different time zones. One of them is a sterling dealer called Richard Hill 5/5(11).
Back in a documentary was released by the BBC showing off three currency traders in different time zones. There is Rony Schlapfer based in New York who is a speculator. Part A. Hill knows that the market is stuck long and that the market can be ripe for a correction. So he is telling his dealer co worker to get rid of sterling long positions as soon as the far east markets get going. William Wong is shown in the Chemical Bank dealing room.
William Wong enters the dealing room and sees that the pound is rising breaking out and needs to determine whether to jump on the bandwagon. He needs to make a decision whether to chase the market. He buys 3 million pounds. He can Bbc documentary on forex trading a position up to 20 million pounds without asking his superiors. He has accumulated a position of 21 million pounds by the end of Part A. Part B. So presumably he has at least 6.
Add in a little bit a leverage occasionally and he can take positions worth tens of millions of dollars in the currency markets.
It seems Rony was using a little bit of leverage. The action moves back to William Wong who can check the exchange rate on his portable receiver.
If you caught the quotes you could see the following quotes:. William Wong wants to dump 21 million dollars and he is scared that if he gets it done slowly that the market will pick up on it. So he gets his co workers to execute the orders all within a close time limit to each other so the market will not realize. The action moves back to Richard Hill in London. If you catch the Reuters portable receiver again the price quotes are approximately:.
It seems Richard wants to gun some stops to the downside and look to make pips. Not bad. Stop hunting back 26 years ago and it still exists today. Part C. Richard Hill sits down in the dealing operation of Barclays Bank. It is a question of whether you make the best use of the information or not. What does playing the market on peoples positions mean? Well it means gunning some stops, or squeezing players out of their positions, either quickly or gradually.
If they can figure out where the intraday players pain tolerance points are, they can take a bit of profit out of them. William Wong calls Barclays direct to get a quote for the pound.
William decides to buy 5 million pounds, Bbc documentary on forex trading. Richard sells more pounds and the price could of Bbc documentary on forex trading some stops and the market drops half a cent or 50 pips. This is his feel for Bbc documentary on forex trading market. Richard decides to jump on their bandwagon. He preps the other dealers to start buying tens of millions of dollars in pounds. Richard then concludes that the market may be short sterling. So coupled with the fact that the market may be short sterling and with the Russian buying, the price may go up.
Richard starts to buy in 5 million lot sizes. In other words that the market is stuck being short sterling and may need to start buying to get out of their shorts, Bbc documentary on forex trading.
Richard starts selling to take profit. Richard starts selling. Not bad for the currency dealers. They know how to make quick money in the forex markets. You think the dealers used any charts, trendlines, stochastics, etc? The action moves over to Rony Schlapfer who is preparing for the trading day in New York. Rony Schlapfer works with this partner Brad Westerfield.
He has two assistants to help him. If you caught it, one of their assistants is recording charts. If it is not right we cut it and we stay away again. Looks like he is a momentum trader trying to catch an explosion of volatility for some quick profit.
The commentator says that by currency dealing standard, Rony Schlapfer operates long term, by actually keeping his marks overnight. This implies that the currency dealers like to hold their positions for seconds, Bbc documentary on forex trading, minutes, or a little bit longer. It implies they never want to hold them overnight, Bbc documentary on forex trading.
The action goes back to London. The money supply figures are due to be released and it seems the market is sensitive towards them and could have an affect on the pound.
Richard Hill is attempting to position himself for the money supply figures and has bought 20 million pounds. But the price is zig zagging as other currency dealers are placing their bets. Hill responds by saying he may decide to cut the position size down before the money supply figures. Again the Reuters portable quote machine is shown. Richard Hill has triggers for the money supply figures. He knows that if it is above half a percent, the pound should rise.
If it is below the pound may fall. The money supply figures come out at expectations at half a percent. Richard Hill wants to sell but he is not fast enough. Part E. The quotes get Bbc documentary on forex trading to him. The action turns to Rony Schlapfer in New York. It seems his bet on the Deutsche Mark went wrong and they are forced to liquidate for a loss.
Brad Westerfield says that the reason the position lost was because of some Eastern Block countries were buying dollars and selling pounds aggressively, Bbc documentary on forex trading, so they were forced out of the position. Rony Schlapfer is wooing a prospective client and the client asked what the fee structure for his hedge fund is.
Rony has a fixed management fee and a performance fee which is taken once per year. The action goes back to Richard Hill in London. He has worked 10 hours from 7am — 5pm Bbc documentary on forex trading the pound has moved up and down two cents or pips. Bbc documentary on forex trading is an important quote as many people think the big banks can control the currency markets for weeks and months.
That requires order flow from many different market participants. The bank can gun the rate up and down Bbc documentary on forex trading an intraday basis, but that is about it. The action goes back to New York with Rony Schlapfer. If you notice his secretary has a few charts on the desk. It is all about who buys and sells the next million and moves the market Bbc documentary on forex trading big figure, and it means nothing as far as the next 24 hours.
This is an important quote. Transform your trading with Bbc documentary on forex trading Flow Mastery. Click Here. Your email address will not be published. Notify me of followup comments via e-mail. I will be including the whole global macro learning process and training course inside the "Order Flow Mastery" program. Watch the videos below with my insights included below. Richard wants to short 10 million pounds.
He is looking for a buyer for the trade. He books the loss. The last two paragraphs above has the big nuggets of value. Lan June 17, Thanks for the commentary, Bbc documentary on forex trading. I watched this documentary before already but your comments along make it more understandable. It really is good to watch it to see that trading without the charts is possible.
I would like to see a newer version of this documentary though. Dont know how much has changed in 25 years. Monroe June 17, Sure trading without charts is possible, but if you think the big players are not watching charts and keeping an eye on the technicals, that is simply not true.
Jun 17, · Home» Trading Blog» Order Flow» Billion Dollar Day – BBC Documentary Back in a documentary was released by the BBC showing off three currency traders in different time zones. One of them is a sterling dealer called Richard Hill 5/5(11). Apr 27, · This BBC documentary was released more than 30 years ago and offers time tunnel to the past. It follows three traders for 24 hours during which they transact over 1 billion dollars in the most significant financial market in the world: forex. Sep 08, · The BBC is not responsible for the content of external sites. Read about our approach to external linking. Piers Curran of Amplify Trading makes $8, in two minutes on a high risk currency trade.