That Swiss Frank incident made me to stop trading forex, even though I was holding very small, afterthat I stopped even looking at forex. I was lucky that I didn't had any Swiss Franc position that night. One of my friend lost a fortune on selling calls on GOOG not even knowing how that works...
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Swiss frank was kept by the Swiss National Bank above the level 1.20 so everybody knew there will be a day when the support will disappear and it is going to be ugly.
Flash crash like situtions happens time to time no matter what you trade. You are not safe with your index futures because in extreme situations there will be no depth to buy or sell and it can gap for example 1000 points lower/higher. It can easily be a system error in broker's platform or even in clearing co. and you will be the one who pay the bill. Thanks to that small text in our account agreements
But life is: You know you can die on the streets and still you keep walking
The Danny Muffarige donation was the best one! DM for president, man of conscience puts his money where his mouth is! haha (If Elizabeth Warren really really won't run, she reminds me of my mammy).
The comments are surprisingly nasty/troll like but I guess that this (very mild) surprise is a testament to effective moderation on this forum.
I shall pay attention and see what is eTrade's response as a news report is waiting for it. I assume they can't close during an overnight gap anyway?.. stop, no emergency customer call (obviously) and no sensible advice when he rings them. Hmmm.. Also him making more mistakes talking about sacrificing a protected 401k and only asking for 5k of 100?
I see a reporter allegedly spoke to him so it may be legit even if a possibly sociology experiment. My girlfriend is somewhat perturbed that I'm spending more than 5 seconds before dismissing this "bit of a first world problem Rory!!" Perhaps ironically she has been doing a PhD on solidarity for 5 years.
If I do donate $5 tomorrow, I have to balance it with $50 to some poor wretch near here who does not have the wherewithal to ask for help. I shall see.
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