Few movies adequately portray how a trader should live every day. Instead, most mainstream films elaborate on the pressure that most traders go through while walking through the aisle between profit and loss.
While movies like ‘Boiler Room’ and ‘Wall Street’ give glamor to the habit of building steady prosperity by all necessary means, they do not focus on the activity of trading. In this article, you learn about the top 5 movies that perfectly illustrate essential habits that every trader should incorporate into their daily activities.
- Traders must be updated about events in the finance world which help them make informed decisions. This will also make them understand the economic factors that affect your investment.
- Although there are top-tier movies like “Boiler Room” and “Wall Street” depict the lifestyle of finance in its glamor. However, more movies give details about how a trader should live.
Below is a list of our top 5 movies that deal with significant areas of finance and the foreign exchange market. Every trader should watch out for these movies as a source of positive influence on their trading.
#1. Rounders, directed by John Dahl
Focus: Spotting fades and money management
Rounders is a movie that is accepted among poker players. It also lays an example of the parallel line between poker playing and trading the forex market. There are two strong characters in this movie that depict the two different sides existing in the psyche of a typical trader.
This movie gives insight to contrasting styles between a cowboy and a grinder while illustrating the consequences of both types throughout the film. The spotting of tells is similar to the spotting of fades used in trading to identify the pressure of order flow responsible for price action. Lastly, this movie reminds traders of the reality that “they cannot lose what they do not put in the pot.”
#2. Rogue trader, directed by James Dearden
Focus: Stop loss and risk management
The rogue trader is a movie that is considered a cautionary story of a trader—Nick Lesson, who sent a bank to oblivion in 1995 after having accumulated a trading loss of $1.3 billion. Initially, this movie illustrated the thrill behind converting a massive loss into an equal win. However, the false confidence of the trader results in the downfall of one of the oldest banks in England.
A significant lesson that traders can extract from this movie is to avoid ignorantly adding trading positions to a losing trade. This could be interpreted as a solid message always to remember to set stop loss orders to ensure that loss does not go beyond what you can bear as a trader. This reminder echoes through the movies as traders can attest that a well-managed stop beats a poorly-managed win.
#3. Revolver, directed by Guy Ritchie
Focus: Trading strategy and decision making
The strategic application of the chess game tactics, depicted throughout this movie, highlights how analytical thinking is helpful in determining transparency. The most potent enemy to success always hides in the least suspicious places—the ego.
Traders can identify with the proximity of chess strategies to trading strategies as it breaks down the|mentality of a seasoned trader.
#4. Two for money, directed by D. J Caruso
Focus: Trading humility, contentment
Two for Money is a movie about the trench-to-glory journey of a physically challenged sports person in sports betting. Traders can relate their experience to the excitement that accompanies wins and the numb feeling in the face of massive losses.
This movie explains the slippery nature of winning streaks; how they can easily transition into losing streaks.
#5. Floored, directed by James Smith Allen
Focus: Emotions imbalances surrounding trading
This movie is a documentary that narrates the troughs and crests of being a trader. Floored captures the consequences of traders leaving the primitive floor for a more advanced trading economy. The universal theme of this movie is either you “adapt or get eliminated.” This sounds much like the forex market anthem.
Genuine interviews with struggling and successful traders give transparency to the impact of being a trader on one’s lifestyle and mentality. This movie will inspire traders in every aspect of living.
At some point, every trader requires more than one book, documentary, or movie that resonates with their mindset. Movies that can communicate the realities of trading the forex market beyond just analyzing technical instruments. Our top 5 list of movies cut across the significant areas of trading, such as risk management, contentment, emotional management, and so on. Becoming a seasoned trader travels deep into the psychology of trading, and this article explains it all.
We asked Tony to share his personal favorites. Check them out in the video!
Tony is a financial analyst of the Binomo team. He is a trader with many years of experience in the market. Tony is the face of our YouTube and Instagram channels and is doing everything to help traders achieve new heights.