Billion Dollar Day 1985

[@Siegefya]

Not a single chart in sight, just pure price action. Incredible really. Looks super complicated.

[@unknownsolza]

You can still trade price action using charts though.

[@Siegefya]

@@unknownsolza of course. And you should.

[@sbtopjosh4098]

The difference is that their purchases could move the price

[@Rzon0810]

​@@sbtopjosh4098 cuz they go in with millions of dollars

[@viktoraberg]

@@Siegefya price action traders unite

[@someonetookmynick]

That pen flipping at 8:50 is fucking boss

[@pfsalinger7195]

One of the benefits of taking NZT

[@festusbojangles7027]

if you think thats boss you've never been in a taiwanese middle school

[@ericmetts2289]

Compare it to the dits pen flipping at 27:30 🤣🤣🤣🤣

[@3EBstudio]

I don't even think he knows he's doing it

[@3EBstudio]

​@@ericmetts2289can I go on break now

[@richardclarke376]

40 years on it'd be interesting to see if those three guys are still around. I've been in this business nearly 15 years and it eats people alive. This is also a great example of how documentaries used to be made and aimed at intelligent people, with none of the phoney 'drama' and dramatic music they have today.

[@manuelmanuel3968]

What types of securities do you trade?

[@richardclarke376]

@@manuelmanuel3968 I don't, I am on the software side, but I see what it does to people!

[@baalzhamon8491]

Totally agree on how documentaries are made these days

[@anothernumber9753]

So I guess I’m a kid relatively speaking (mid 20s) and I’ve been working on trading algos for a while but I’m just wondering if you have any tips for what I can do to avoid getting “eaten alive” by this industry. Thanks for any insights you can share.

[@anothernumber9753]

So I guess I’m a kid relatively speaking (mid 20s) and I’ve been working on trading algos for a while but I’m just wondering if you have any tips for what I can do to avoid getting “eaten alive” by this industry. Thanks for any insights you can share.

[@phillaysheo8]

8:50 Institutional pen flips 27:32 Retail pen flips

[@badboysandhu]

Lol

[@CoachK10190]

Lololol. You can feel the disappointment through the screen

[@muhammadarqum343]

😂😂😂😂😂

[@opps5915]

Omg hahah true af

[@ersozen]

hahah that was awesome catch man!

[@yillanayo7913]

Shows the diversity of approach - London guy taking 3 pips profit in 3 minutes, Hong Kong guy holding for several hours, New York guy happy to hold overnight if necessary.

[@timtaylor937]

*30 pips

[@Devinecreature]

And today Retail traders get emotional not realising they only make money if they only they are on the right side of the market movers like these guys It’s not your methodology that shifts the market. Important to learn the game It’s beautiful when you master the psychology and understand how the machine works and who moves it

[@willytodd2750]

When retail traders become the market movers robinhood and friends haults trading for the day.

[@Devinecreature]

@@willytodd2750 retail traders don’t move the markets But they do contribute to the larger collection of market movement caused by the big players

[@Devinecreature]

Yes Contribute not move. Most retail traders believe when they win its because their strategy was right. Huge error in thinking But that’s because the so called internet trading gurus make the traders believe it’s all about the system

[@man2841]

I was trying to say that watching for retail traders watching this is just for courius, nothing for learn ...

[@Derpaherpa123]

this is the most 80s thing ive ever seen

[@CalicoJoeJoe]

the chav hell yeah boy

[@lindachambers9752]

The Good Old Days!!

[@AstorSkywalker]

Yeah, smoking inside the office 🤣

[@Mmouse_]

I'd like a ticket back there please, the 90's would also be acceptable.

[@Challenges-ahead]

Yep. Touch screens. Very 1980s. (3:30)

[@bennettbullock9690]

In finance, but definitely couldn't withstand this level of alertness. Much respect and admiration. I especially liked William in HK. There was a sort of intense grace and timing with which he co-opted his buddies.

[@TMinh956]

"He's got no ego. If it's wrong, he knows it's wrong and he'll cut out. That's why he's so good."

[@ALVXJZ]

No Ls Just Lessons 💯🔥

[@Carrot_Jade]

Now I know the phrase “ Don’t Trade against the trend “ you are competing with banks and very smart guys. I won’t try to outsmart the market 🤣

[@arabadjiewww]

Nothing but pure price activity is shown, not a single chart. Really amazing. Looks quite difficult.

[@TheMilkman-k7p]

He made 1800 three percent of 20k. Divided out by 3 partners. His salary is 25,000 so that is a nice rip. Amazing how things were back in 1985.

[@tomy7138]

they thought they were at the cutting edge of technology lol.. in the same way as we think we are at the moment.

[@ddanaos]

fascinating huh, so imagine what its gonna look like in 50 years.

[@TurboMintyFresh]

They were though. The cutting edge is time sensitive

[@davidc4408]

30 years from now there will be AI robots

[@alexmckee4683]

@@davidc4408 there already are AI trades going on.

[@FirstTravelService]

Watch this quite often. So well done. Always wish it was longer.

[@Pepegascape]

A touchscreen!? O_o I am impressed

[@steveoliverez6661]

Ha, I thought the same thing.

[@naruto59690]

Yup, they were since the 60s on the British air force, I'm impressed about the smart phone exchange rate thingy

[@markcutis]

Total recall. Was in dealing rooms during the 80’s. The mood was electric. All very real Brings back memories.

[@vuho2075]

You were living the Gordon Gecko life..

[@Kjosh247]

It was similar to this even as recently as 2010- loved it most days but hated when lost for the day! Awesome memories

[@_el_yeyo]

“Not much of a trend, so I’ll likely just play the market out of peoples’ positions, take a little profit out of it” - incredible

[@Haerinx87]

Fantastic documentary, very entertaining

[@ravik7417]

Oh the good old days😊 You could smoke a cigarette on your desk while the computer beeped.

[@xtraderxnyc-v8t]

I miss the sounds of all television so much Also, I used to watch this while learning how to trade and here I am 20 years later about to retire

[@springpocket6941]

im more impressed by the pen flipper

[@saracyclesandsews]

We watched this in my college econ class in 2002. As it was ending, the prof said, They must've cut the footage of everyone doing coke. 🙃

[@JK-ii6gf]

😂😂

[@JemmaGuaney]

What do you mean, it's right there: 18:44

[@thehoov6672]

The beauty of this is the amount of insider trading that went on 😂😂 Phone calls to give heads up about trades and moves 😂

[@Gunzee]

It did look like the Russian was using some kind of code, prompting Richard to buy 35 million GBPs. Why would you ask others for a range when you can see it on the screen? Seemed more like a heads up "hey we're gonna buy, you should also". They promptly sold what they bought. It couldn't have been planned better.

[@Thematt7890]

@@Gunzee Even during the height of the Cold War, the fact that Ivan and Boris were subtly giving Richard and William a nudge and a wink when buying and selling currencies never fails to make me chuckle.

[@lawrenegummy4736]

This whole thing oozes 80s aesthetic.

[@Ghosted760]

Sat on a certificate of deposit dealing desk in 1987-88. We had phones, pencil, paper, and bank CD rates on whiteboards. Different times for sure.

[@ginaza9767]

8.50 all the excitement is the selling of millions of pounds. I'm more impressed by that dude continually flicking his pen and catching it without looking.

[@kukuzthomas1443]

who watching this in 2020?!

[@pitlollygrower6791]

I didn't know touch screen technology existed back in 1985. (3:40)

[@herooftheday77]

Wondering how a video about todays trading would look like, compared to this one, and how many people will watch it in +40years calling it "super retro cool" and "how they miss the good old time" ;-)

[@Coondawgwoopwoop]

Just watching the way the markets worked then is addictive.

[@Coondawgwoopwoop]

“Don’t get mad. Get even.” So true

[@SISAX-trades]

Anymore docummentals that youd recommend to learn more about the market ?

[@rafaelken1989]

To summarized this video of who were the biggest winners and losers since there are only 3 players, the biggest winner was the London trader, 2nd Hong Kong and 3rd American. Thanks!

[@malthus101]

Imagine being able to drive around empty streets in the City of London and just park your car on the road!

[@DelKshares]

When this programme first aired it was promoted with free shoulder pads and a Phil Collins LP.

[@GoobNoob]

Interesting

[@elkspridepictures9217]

I love this, as a very specific and visceral slice of the 80’s. I love how the British fellow somewhat resembles Christian Bale, the era and vibe of American Psycho. Also love the glimpe of a future TEXTING WHILE DRIVING epidemic, checking his ticker between gears down the county road. And my goodness the chain smoking!!! Thanks for posting!

[@JemmaGuaney]

There's something about that era, the eighties, it's just all go and so much fun.

[@pedrosuarez2252]

23:43 These guys showed us why we should stay away from news when trading 😂

[@TheMilkman-k7p]

Wow 750 million traded for a 100,000 gain. Nuts just 1 or cents up or down. Luv it l. Just shows you how hard it is to make money in any market. So many players

[@Owilly_iam]

This was 10 years before I was born. Today, I am a trader. So proud.

[@FreeKillFrenzyGames]

Was thinking the same thing. It’s amazing the change and how technology has revolutionised it for the smaller retailer traders. We have no where near the power of these individuals but it’s amazing to see the difference

[@kamranakmal6468]

What u use price action

[@bradyrobertson23]

🤣🤣🤣

[@LuckyPunk13]

old but gold :)

[@MikeyFFA500]

This is awesome, I wish they made a 2017 verison of this. The differences would be crazy to see

[@Extys]

These jobs no longer exist, it's all algorithms.

[@SteinErikDahle]

Mikey, it would just be a trading bot doing it's thing.

[@SpeedlPN]

These jobs still exist in title, but their job is not trading, but overlooking the robots to make sure they do not do anything stupid, market making and risk management.

[@tman32]

@@Extys Guys like me build them :)

[@Extys]

@@tman32 Are you a data scientist specialized in the Forex?

[@jb0177]

Now you can do all this from your smartphone. How times have changed.

[@aheatherw88]

I was thinking the same thing!

[@pdiddyprof]

i mean not really? can't exactly shift institutional size trades (multiple millions) on a smart phone.

[@Thelimitsof]

@@pdiddyprof Hypothetically you can, depends what brokerage

[@onekycarscanners6002]

@@pdiddyprof with high leaverage anything is possible.

[@nopy99]

would love to see a follow up interview with these guys if they are still alive.

[@beradogs922]

They were the best of times. Miss it terribly.

[@matteoromenghi]

Money never sleeps! Gordon Gekko

[@linglee5759]

Now we can sit at home and do this with our own accounts anywhere in th world

[@lifeisabadjoke5750]

pretty amazing

[@frostysfreeway2320]

Instant gratification becomes mundane. The trading floor was where it was at

[@IainInLondon]

11:42 "...and with that swipe of the cloth, she just made twenty five and a half thousand dollars."

[@lakecityransom]

17:35 You really do gotta light up for this job. I felt the need to just watching this lol.

[@broncofun5636]

The American has a million dollar home and a $5 shower head.

[@googleuser7454]

that sounds about right

[@edd2779]

Risking £21m pounds to make 20k USD profit... this isnt gambling, its pure madness

[@joymofokeng5440]

Scalpers 😂😂😂😂😂

[@fantomman3881]

Risking life for pennies is def wild 😂

[@wesselmartens1621]

He is not “risking” 21m, that is merely his notional exposure. His risk is on percentage changes on the FX rate, which is 2100 GBP per pip (100th of a pct). The rate moved 0.1% or 10 pips and he made 21k, which is not a big number in any professional FX book. Well done nonetheless.

[@stanzapalny2123]

0:41 thousands of dozens thanks for this video

[@danielf702]

8:51 that’s some serious pen flipping skills

[@badrulhussain5545]

What a wicked documentary. Abit like Trading places but real life. That W. Wong is a very very clever guy....Once a dealer always a dealer and beats the market lol

[@MikefromLouisiana]

Love these films

[@dmoku]

Legend has it the guys in HK are still flipping their pens.

[@NeutronRob]

I'm amused that even the Soviets were engaging in currency speculation!

[@g13flat]

They also needed FX for foreign trade.

[@ozzy6858]

Yes, and we mooved the usd/deutch mark for 4-5% a day. The nickname was " Redman"....)))

[@lmaolmfao3611]

@@ozzy6858 👀 so interesting, got any more stories about those days?

[@igorbelov7428]

Yeah at the same time it was illegal to buy and sell currencies for common people

[@lmaolmfao3611]

@@igorbelov7428 Only the Soviet state was allowed to trade currencies?

[@sikhpilot.]

William must have got some slack for being late, the day you're being filmed too! I'd have been there 30mins early😅

[@useryoutubed]

They are trading millions literally just by waving hands and making 70 thousand dollars in just 3 mins that too in 1985.... I wonder how much they are making now in that scale... Unbelievable skill🎉

[@RichJL-g8k]

Grimace at 17:48 is coz he bought (hand signal ‘mine’) expecting a 63 offer not the 58-68 quoted

[@brendonkasozi8538]

There was touch screen in the 80’s 🤯

[@christosnikiforos4103]

All the way back to 1965

[@Richard-gl7xu]

Making deals based on price action with massive lots and with all the delays of using pen and paper, not to mention massive spreads, they were awesome traders...

[@viviancheung2728]

Great documentary, wish they had made the video longer of how they trade on the floor. Wonder where are these legends now?

[@Siegefya]

@matchstopsandimbalances yeah the person talking over this is annoying "gambling, gambling, gambling" like stfu.

[@matmorgan5752]

13min10sec “Doesn’t look like there’s much of a trend at the moment so we’ll just play the market based on people’s positions. Take a bit of profit out of it” (Presumably the other institutions massive orders that they can see? The order book?) “They could be buying a little to push the price up before selling a lot” well there we have it gentlemen, the institutions that bust across our retail tight stops. Brilliant docco this one.

[@srigovic]

the music "10 cc - the wall street shuffle (1974)"

[@Tricky3003]

Where's Richard Hill these days?

[@jdrip2158]

11:30 not an economic scholar but a financial athlete

[@SAVUFILMS]

8:49 Can we all acknowlege the fact this GUY CAN FLIP A PEN LIKE THAT!!!!

[@mandalahigherplanes9044]

Lol, moi impressed.

[@arabpride9939]

People had to pick up a phone every time they wanted to check on the price, buy news paper and watch the news on TV in order to know what is happening, and we are here getting all of that information live in one simple application on a computer doing our trades while eating popcorn lol. Wonder what these guys could have done with today's format.

[@Rae47k]

We are the lucky ones ngl lmao

[@kaeji_namitsua]

Nothing. Today's market is full of automation no human could compete with it.

[@drew9312]

Interesting video. Wonder what Richard, William and Ronnie are doing now.

[@SISAX-trades]

Can someone recommend me more of this documental to learn more on how the market used to be trade before tradingview

[@rahmspinat]

Crazy to think this was 150 years ago

[@paradiselosing]

lol

[@dac8939]

Less than 100 years ago

[@salsperspective9745]

How high are you

[@mark33545]

@@dac8939lmao less than 40

[@itiswhatitis9591]

You clearly have a give for numbers

[@jamescooper6679]

Fantastic

[@win-algo7783]

My favorite movie 👍, about trading.

[@arifradzuan5439]

Life before smartphones... how interesting

[@chova1123]

Technology really simplified modern day brokerage firms from redundancies

[@stevo728822]

This must have been taken at the old Bishopsgate trading office.

[@FredandChase]

Love it love it love it. As a retail trader myself, this kind of video should be mandatory for us so we understand what goes on behind the scenes all day.

[@MemueQuetale]

yes, shit from 1985 is so relevant for todays "retail" traders. Absurd statement really.

[@andrewjones-productions]

@@MemueQuetale Is it though? The date has changed. The equipment they use have changed, but the rules remain the same as does how the markets react to global affairs. Not absurd at all really. OH, there is one rule that has changed and that is you can't smoke in the office anymore.

[@jeroenthiels7591]

Human Behavior stayed the same. So its relevant🤞

[@HavalMamar]

amazing 🎉

[@terryloker358]

Amazing , seeing him drive into London with hardly anyone around ?? Krikes he COULD NOT do that now LOL

[@karan_153]

Does anyone know what software / protocols they were using to exchange messages at 13:27

[@Primordial_Synapse]

I was somewhat taken aback to learn that the USSR and Eastern Bloc countries were engaged in currency speculation, in some cases even outmaneuvering traders in London, New York and Hong Kong, although none of this seems to have come as a shock to any of them.

[@poloska9471]

The western world has no clue about Russia in general... unfortunately westerners have an ideology that causes them to see the entire world through their own lense instead of acknowledging the various shades and types of humanity within humanity... for example, communists are for some reason evil to westerners when that couldn't be a more dog shit simpleminded opinion... same thing for the constant bombardment of anti-Russia propaganda in the west that effectively makes people think its some sort of 3rd world country meanwhile it actually rivals America and Europe in a great many things with a fraction of the cost and no international meddling having payed the largest price of WW2... it's a very strong and intellectually developed nation. The Russians know the US and EU economy better than the US and EU... as they say, keep your friends close and your enemies closer.

[@TheThirdFall]

Yes, the interesting thing about those countries is that they traded internationally in hard currencies, and that they didn't accept their own currencies for the purpose of trade. Things like the Polish złoty and the Soviet ruble were essentially just accounting tokens, while trade between themselves was handled in a fictitious ruble that didn't exist - the so called 'foreign trade ruble'. This was actually based on Western hard currencies, and provided a way for the socialist countries to trade amongst themselves. But yes, they needed hard currency to buy things internationally, and they did sell products in various hard currencies. The only surprising thing is that they had enough foreign currency reserves to play the markets like that, although the Soviet Union was selling energy to Germany and beyond in hard currency.

[@SK-ep8ne]

best video on you tube, that time tech is superb touch screen pager mobile car waw

[@coolspot18]

Hong Kong's buccaneering days are still going... and people have gotten more ruthless with making money.

[@tshafi5030]

Saw this in my International Business course more than 20 years ago. Thought it was an awesome movie then. Cheesy, but still great! Thanks!!!

[@auwaluibrahim349]

Good, That's the year I was born 1985 and now 2023 Iam a pure technical Trader who started in the year 2020,

[@Laughinghawg]

Thank you for posting this video. I used to have a cc when it was originally published back in the 80's but it was accidentally recorded over. Times have changed a lot with computers and the internet.

[@DavidMocata]

I really like this video.

[@DavidMocata]

Touch screen in 1985. I feel cheated. No wonder there was an accident in Roswell

[@Urban_archive]

Notice how Hong Kong had touch screens in 1985! 😮

[@charlesandrews2360]

I was working in the currency futures pits at the CME at that time. The atmosphere was electric. Every month when the government would release the merchandise trade balance figures the place went absolutely bananas. It was like the Wild Wild West with all the old robber barons trading in the livestock pits and all the hot shot young guns trading currencies. It was marvelous

[@prathmeshyadav4914]

I thought pits are closed

[@charlesandrews2360]

@@prathmeshyadav4914 The old Eurodollar Options pit is still open. As of about two weeks ago they're trading a different contract in that pit. I don't know what they call it now but the last euro-dollar contract traded two or three Fridays ago

[@dac8939]

@@charlesandrews2360 I did MSc financial mathematics quite a few years ago but never got into trading. Worked in investment management for quite a while and now want to do some option trading in my own account. Is it true 95% lose money (retail traders?). Any tips to start out or not worth it?

[@salsperspective9745]

Look How far we have come to the point of single person clicking button on a screen.

[@salsperspective9745]

​@@dac8939im a day traders my self doing it for 8years now all i can say is absolutely only 5% are profitable because you really have to be exceptional human to be consistent and deciplined that's where the problem for most people is

[@tomspeed3354]

Gambling with other peoples money, takes zero talent. trade with your own book and money and make a living. you have my full respect

[@winwithbennie]

Old is gold... market is still the same till this day

[@TableTennis-Man]

Its Good that one can smoke in offices last time. Now is smoke free.

[@justwatching1980]

15:14 boss looks like the boss from 25th hour trading scene 😆

[@matteoromenghi]

True. 😀

[@christschool]

3:51 I didn't know touch screens existed in the 80''s and I lived through that time and used computers.

[@banksterkid5930]

Touchscreen were used since 60s. It was military tech bcoz you couldn't see buttons in dark. They became public in 80s.

[@jonathanpc]

Its a dealerboard. You press a button and it connects you to a counterparty such as another bank or broker. I used both physical button dealerboards and the touch screens and I personally preferred the physical buttons.

[@mt_gox]

@@jonathanpc do you know jay meisler of global-view?

[@jeffreyfrye2573]

Absolutely great video. I have adopted several of their strategies into my automated trading program and what a difference it makes.

[@ryanscott9093]

Dude, I don't know if I could have made it as a trader back in those days. Maybe, but it looks tough. You had to be a true OG to trade back then..

[@brettblaster]

Lol these guys just guessed

[@saavyz]

@@brettblaster😂

[@5ucc355]

@@brettblaster lol you are clueless. those are market makers not retail traders. Just like today they have direct access to the numbers where fellow market makers placed large orders. so no need for charts nor indicators like retail traders use

[@brettblaster]

@@5ucc355 true

[@danrodrigues3531]

I would love to understand just how someone goes about buying and selling currency. The last time I checked, the dollar bill that is in my pocket is worth $1 and it doesn't seem to increase or decrease in value while it's in that pocket...

[@steveturpin4242]

Good one...thanks!

[@noconsentgiven]

"Whoa, take the money and run, hoo hoo hoo!"

[@nova_kane]

Just fantasised about going back in time and wiping all these guys out with a modern laptop. Imagine having to call up some guy to make a trade, they didn't even have charts!