There’s been a big buzz around an old video documentary by PBS in the US on the trader Paul Tudor Jones. Not least because one of the scenes has Paul sipping on a beer while trading massive positions in the forex market.
Paul is a legendary trader who made his fortune predicting the 1987 stock market crash. He is also featured in the book Market Wizards.
The Paul Tudor Jones video documentary
There were apparently video copies of the documentary doing the rounds a few years back for hundreds of dollars as traders watched every second of the video for hints and tips into Paul’s technique.
Last week, some kind soul put the documentary on YouTube, causing Paul Tudor Jones to take legal action as he didn’t want more people to see it. This had the unfortunate effect of making even more people want to download in the videos.
The video was extremely interesting and I was looking forward to sharing the link with you, but I logged in this morning to find that the videos have been removed from YouTube.
However, fear not. A little Google searching and I’ve found another source.
The video shows Paul and his small trading firm in the lead up to the 1987 crash. We see him in the thick of it making a huge loss at one stage then making it all back another time.
What impressed me more than anything was his sense of humility.
He was confident in his convictions, but there was limited whooping and hollering on the good days and no destroyed phones on the bad days.
He seems to accept that sometimes you will lose (a lot) of money and this calmness under siege seems to see him through the bad trades.
The video is an hour long and well worth a watch before this video gets taken down too.
View the video here:
I’ve watched the video through the site and experienced no problems, but I must warn you that unlike YouTube I cannot vouch for the source. You might want to make sure you have good spyware software like Spyware Doctor (http://www.pctools.com/spyware-doctor) – I recommend the tool as anti virus tools don’t clean everything out.
Another Forex robot: Ivy Bot
Yet another bot to hit my inbox recently is Ivy Bot. A familiar looking sales page tells us how a few Ivy League (top US universities) graduates came up with a trade bot that they’ve made millions from over the last few years.
Blah blah blah.
I’m sorry to sound so cynical, but I’ve heard it all before and in my experience, bots are guilty until proven innocent. Sure, take them for a test drive with a demo account, but don’t be in a rush to put money on them and when you do, make it a token amount.
Most of these bots are sold through click bank. If you want a refund, get one by going directly to click bank not the vendor.
Back to Ivy Bot…
It’s the sort of promotion that really gets my goat. The video bangs on about how other bots rely on back tests, and offer no live results, when this is exactly what’s going on with this bot.
The results are… all back tested with no evidence of live trading.
I’m monitoring a demo account at the moment and given the way most of these bots go, I wouldn’t advise you making a purchase without a couple of months live trading at least.