Rogue Trader tells the true story of Nick Leeson, an employee of Barings Bank who after a successful spell working for the firm's office in Indonesia is sent to Singapore as General Manager of the Trading Floor on the SIMEX exchange. The movie follows Leeson's rise as he soon becomes one of Barings' key traders. However, everything isn't as it appears - through the 88888 error account, Nick is hiding huge losses as he gambles away Baring's money with little more than the bat of an eyelid from the powers-that-be back in London.
Eventually the losses mount up to well over £800 million and Nick, along with his wife Lisa, decide to leave Singapore and escape to Indonesia. Nick doesn't realise the severity of his losses until he reads in the newspaper that Barings has gone bankrupt. They then decide to return to London but Nick is arrested en route in Frankfurt. Nick is extradited to Singapore where he is sentenced to six and a half years in jail (but stays in jail for four years, because he was diagnosed with colon cancer). The film is based on Leeson's real life book, Rogue Trader.
Watching the movie made me realize the pure importance od being a discipline trader. A scene where he was sweating & vomiting in the Restroom was a true reality of how a Trader with huge losses must be feeling when we get Emotional, Greedy & Undiscipline with our trading.
Imagine Loosing 1 Billion Punds by Trading the Nikkei Futures. And all the poor guy wanted was to get the year End Annual Bonus which was less than USD1 Million! Because of one man's greed and undiscipline, the butterfly effect created bankrupted the World's Oldest Private Bank in the year 1995. It was then how ING bought over the Barrings Bank and because ING Barrings Bank. Imagine the looks on the Rogue Trader's Sweating Face when he knows he lost everything.
Remember to always plan your trade and execute the plan. Put Stop Loss and don't keep on adding to Loosing Positions.
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