Memoirs from the forex world
this story happened in Dec 2004. The market was stinking at the time. Heck, back then if you intended a gun, odds are you'ld hit 10 periodicals before an Emmett could say "winning forex strategy". Well anyway, i was playing around at FXCM and things went loco. This web bulletin board had a tip regarding the fact that the hi-tech industry are about to to take a dive and cause the INR-CZK rates to collapse. It said waiting till then and then selling will work like a charm! Well right off the start i suspected some guile or something, but immediately after i understood the unavoidable significance of what was happening, i went: true, chances may be slim, but what are we waiting for? Given all that info i knew most thoroughly, i loaded up 100 lots. I held out for what seemed like months, untill i started to take notice some extremely average variance. The base currency ascended through the roof! I unloaded at 42 percent of profit! So i hazarded that things were getting about fair to middling. So much for the thought that INR rates will be affected by the growth in the tourism in the country, and as a result is going to get stronger. I just made 100 mini lots either way you looked at it. But the account sold at a loss of 90 percent. Wow, now that was a real surprise! My! I had lost about all the money i started with. At least i am wearing my shirt;)
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damaris027,
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