Okay so if you love watching films and documentaries like me, then why not take the opportunity to learn a few things about trading while you’re at it? To tell the truth, there are very few documentaries and films that accurately capture the true nature of a day trader’s life. The stress of constantly trying to avoid crossing over the fine line of profitability and not, is hardly ever accurately portrayed in mainstream films and documentaries.
Actually, it’s hardly ever accurately portrayed period, and I think this is where the misunderstanding begins. Movies like ‘Wolf of Wall Street’ (which is one of my favorites, don’t get me wrong) and even ‘Boiler Room’ (which I also really enjoyed watching), are just an over-dramatization of the financial industry and have been taken too seriously, resulting in the tainting of the industry’s ‘renome’, or reputation to put it simply. My four top picks, I hope, will give you a more realistic idea of what to expect when you sign-up for the trading life.
Two For The Money – Preparation, Humility, Contentment
A very nice round-up of the rags to riches journey of Brandon Lang who sustained a career-ending injury only to end up as a handicapper in sports betting. The main theme that I find relevant and present in this film, is the insane euphoria that accompanies a win and the paralyzing disbelief that accompanies a loss. This tale, I believe, can really provide some insight on what it really means to get ahead of yourself as contentment starts creating blind spots and large losses start manifesting. Get ready to bring the humble out of you.
Rogue Trader – Using Stop Loss
This film revolves around the story of trader Nick Leeson, who by turning an insane loss to an equally insane win bankrupted England’s Oldest bank, Barings Bank. What the movie is trying to communicate is the severity of not having implemented risk management into your strategy and what the consequences are. To any trader who has completely blown an account, this one’s going to hit home, and please do admit that desperation rarely ever scores the goal. The theme of risk management is one that consistently appears throughout the film and serves as a reminder that any poorly managed victory will always fall short of a well-managed loss.
Revolver – Lateral and Strategic Thinking, The Ego and Transparency
The movie’s main theme revolves around the strategic application of various chess methods, underlining and emphasizing how lateral thinking can help in the process of understanding transparency. Your greatest enemy hides in plain sight and it’s none other than your ego, who by the way, is not your ‘amigo.’ As a trader, what will probably come as a surprise to you, is how closely correlated chess strategies are to those of the financial markets. What you can superficially see is not usually what lays behind as true intent. I think this accurately embodies a trader’s mindset.
Floored – The Emotional Rollercoaster Of Trading
This one’s a documentary and one of my personal favorites because of how accurately it captures the ever-fluctuating emotional cycle of trading. Trading screens, trading pits this documentary covers it all – even the consequence of having fallen behind with technology as an old-school floor-trader. If you stubbornly refuse to go with the river then your doom is impending. The following, truth be told, doesn’t just apply to trading, is the main message conveyed in this film – adapt or get eliminated. You get a good idea of what the trading lifestyle’s like and the impact it can have on many other, unrelated aspects of your life.
This isn’t to scare you, this is to make sure you don’t have the wrong idea of what it truly means to be a trader. Watch these films, get inspired and remember what you came here to do.
Disclaimer: This article is for educational and informative purposes only and should not be considered as investment or trading advice.