Campaigners to get Britain out of the European Union won their shock victory by building an alliance of older and less-educated voters angry about the way globalization has changed their lives. Now they’re telling people they won’t get what they want.

Vote Leave explicitly targeted people concerned about immigration, warning them that millions of Turks were on their way to Britain. The morning after they won Boris Johnson, their leading spokesman and the favorite to succeed David Cameron as prime minister, began backing away from that message.

Rory, what you seem to be saying is that you're smarter than most including your friends in the UK and you advised them to vote Remain for their and presumably your own best economic interests, and now you're upset and disgusted because the vote went the other way and MTM less than 24 hours later - you've lost net asset value and see a bleak future...?

I totally understand and I'm not trying to be harsh but those are exactly the arguments that the elite (political and otherwise), including the power structure of the EU commision and legal system, use to justify the erosion and eventual complete eradication of all semblance of democracy. They say - oh you don't need to bother with that - just leave it to us. Oh and - you don't have any say in it whatsoever. If they all truly had our best interests at heart that may be ok, but even then it would still leave the door open to future abuses. But the evidence of fraud, corruption and far worse is significant. I know you took a hit - me too. Everyone with any unhedged assets in stirling took a hit. I've had big losses over the years - anyone who's been in this game long enough has. Markets bounce back - granted this one will probably take some time.

But I'd urge you not to feel disgusted about this. Your friends and many others expressed their voice through a vote to reject an anti-democratic political and legal system.

On a completely separate note - and I'm saying this through genuine concern - it isn't too smart to trade for 15+ hours a day. I spent a number of years doing precisely that both for myself and for institutions and it can be a quick step to depression and disillusion.

Things will look better when the dust settles.

Enjoying the discussion so far and learning a lot. One of the few observations I've made about the online trading community at large (beyond this site) is what I perceive to be a general denial that racism often plays an influential role in political and economic outcomes.

https://www.facebook.com/OccupyDemocrats/videos/1168910223202030/

It is certain that Brexit would do gross damage to both Europe and America. For the United States, it would mean the failure of many years of diplomacy. Britain would become at once less useful as an ally and less predictable. Washington would turn increasingly from London to Berlin.

For Europe, Britain’s departure would be like a first brick pulled from a flimsy wall. The union is already fragile. Its mismanagement of the eurozone debt crisis after the 2008 crash was followed by its mismanagement of the refugee crisis. No wonder a recent Pew Research Center poll showed plummeting approval ratings for the union in key European countries.

British withdrawal isn’t likely to be followed instantly by that of other member states. But nationalist governments like those in Poland and Hungary, and others besides, will be encouraged to defy European rules from trade regulations to human rights, until the whole structure disintegrates. Disputes once soothed by multinational bargaining in Strasbourg or Brussels may grow toxic.

A Leave victory in the referendum is expected to topple Prime Minister David Cameron, and replace him with a radically right-wing Conservative team, which the impetuous former mayor of London, Boris Johnson, is eager to lead. The new government would immediately have to face the problems of disengaging from Europe, and possibly from Scotland. Negotiating new treaties with European trading partners would take many years. And Germany is warning that Britain will no longer have access to the European Union’s single market.


That would knock the bottom out of the Leave campaign’s central promise: that Britain could have its cake and eat it, too — retaining full access to 500 million European customers while clamping controls on immigration from the union. Cynics predict that Britain will spend five years trying to get out, and the next five trying to get back in.

Lots of discussion that even though the referendum passed that it might not get the needed support in Parliment to actually ever become reality