Day trading has gotten more popular throughout the years. Inquiring minds want to know what a day trader’s life entails. To learn more about the lifestyles of day traders, one option is to watch movies on the subject matter.
A day trader’s life is seldom shown in cinema. Mainstream films seldom depict the stress of balancing profitability with the threat of imminent losses.
It’s easy to see why movies about day traders are so popular, but they don’t convey the core of what it’s like to really trade. A trader may learn a lot from these movies on how to succeed in the market.
Barings Bank went under in 1995 when trader Nick Leeson racked up $1.3 billion in secret trading losses. This video tells his story. Initially, the film shows the thrill of converting a significant defeat into an even greater victory. In the end, this misguided confidence leads to the demise of England’s oldest bank. When a losing position is compounded by a total absence of trade management, the video portrays the repercussions. Desperate money never wins, as any trader who has squandered their account will confirm. Throughout the video, the audience is placed in the driver’s seat of a fast race vehicle, which is about to plunge off a steep precipice. A well-executed stop is preferable to a haphazardly executed triumph.
Nick Leeson, a young Barings Bank employee who had previously worked in Indonesia for the company’s headquarters, reveals his actual experience in Rogue Trader, which is based on the true events of Nick Leeson’s time as General Manager of the Trading Floor at the SIMEX exchange in Singapore. But things aren’t as they seem; via the 88888 error account, Nick is disguising significant losses as he gambles away Barings’ money with nothing more than the flick of an eyelid from the London power brokers back in New York City.
In the end, Nick and Lisa decide to leave Singapore and go to Malaysia because of the damages they’ve incurred. Before reading the news that Barings has gone bankrupt, Nick is unaware of the extent of his losses. Finally, they make their way back to London, but Nick is detained in Frankfurt on the way. While in Singapore on his six-and-a-half-year prison term, Nick is discovered to have colon cancer.
In Rounders, Matt Damon and Edward Norton feature in a 1998 American drama film about the underground world of high-stakes poker directed by John Dahl. To pay off a hefty debt, two pals must play high-stakes poker to their advantage.
The movie Rounders had a tepid critical reception and a mediocre box office debut. Mike (a talented New York City law student and poker player) loses his whole $30,000 bankroll in a single hand in an underground Texas hold ’em game organized by Russian gangster Teddy “KGB” (John Malkovich). Feeling demoralized, Jo (Gretchen Mol), his girlfriend and fellow student, tells him that he would stop playing poker and devote himself full time to law school.
Despite the passage of time, Mike remains faithful to his word until Lester “Worm” Murphy (Edward Norton), a boyhood buddy, gets freed from jail. In contrast to Mike, Worm is a scumbag and a liar. With the aid of Mike, Worm is able to pay off a debt by participating in games around town, and Mike is forced to sit in on one of them. Despite Mike’s permission, Worm withdraws $10,000 from the Chesterfield Club and opens a tab in Mike’s name. Worm meets Grama (Michael Rispoli), a violent pimp who has purchased Worm’s debt – Worm now owes Grama, who is working for the KGB, $25,000 in total. Grama snatches $10,000 from Worm and threatens him with the rest until he pays up.
On a winning run, Mike makes $7,200 in three days, but he still has to double it in the next two days. New York state troopers conduct an out-of-town poker tournament where Mike earns close to $15,000 before Worm enters the game.
Poker players love this movie because it shows the similarities between playing poker and trading stocks. It’s a metaphor for the two parts that exist in every trader’s mentality. As the video progresses, the difference between the “grinders” and the “cowboys” and the implications of both methods are shown. Discovering the underlying order flow pressure behind price movement in trading is similar to recognizing poker “tells” and “fades”.
Documentary on the Chicago trading floors, Floored, was released in 2009 as a feature-length film. A number of Chicago floor traders are featured in the video, which examines the effect of the computerized trading revolution on their livelihoods. The 77-minute film is directed by James Allen Smith.
From the trenches of a trading pit to the computerized trading displays, this documentary catches every high and low. The impact of the computerized trading revolution on the old-school floor traders is vividly shown. This is the consequence of their obstinacy and zeal. Be prepared to adapt or die in this flick, much like the market. Confidential conversations with successful and unsuccessful traders reveal uncommon insights into the toll that this industry has on one’s family life, personal relationships, and general well-being. In this movie, the spirit of trading for a livelihood is captured in all its glory.