It maybe not article about Forex but, it is about trading, maybe even about great tragedy. We always learn from mistakes, and it is better to learn from someones else mistakes then yours so i advice you to read it.
Here is a short excerpt to encourage you to reading, by the way it is quite long.
"French bank Societe Generale has admitted that a gap in control systems allowed a junior trader to take a $73 billion losing bet on European share prices, but defended its handling of the world's biggest trading scandal.
Prosecutors said the trader, 31-year-old Jerome Kerviel, would remain in custody until Monday after handing himself in on Saturday and was co-operating with a probe into how the bank racked up $7 billion losses on alleged illicit deals.
Kerviel's new lawyer said he had been doing a trader's job by taking on risk and accused the bank of setting him up for a public "lynching" by letting him carry all the blame.
"He has not embezzled anyone, he hasn't taken a cent for himself and he was just doing his job as best he could," Christian Charriere-Bournazel told Reuters."
Read more here Checks by SocGen missed $73 billion wrong-way bet
7 comments:
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Scamming is very much common in forex. Not only forex but also everywhere, where money is related. Its our duty to be careful enough to save our money. For that we need to choose a trusted broker to trade with and make ourselves happy by good amount of profit and save ourselves from scam. To make myself happy I work with lxmarkets. They r very good broker I have ever worked with. they r very trustworthy.
Now a day broker choosing has become very tough. Most of the brokers found are to scam. As a result most of the traders are getting cheated. To avoid scam a trader needs to avoid scam broker. I am trading with Trade12 broker is free from scam and high regulated broker.
Forex market is one of the largest market where many investor put their money with an aim to gain profit. Best Forex strategies help traders to take right decision at the perfect trading hours as well as make a better profit in forex market.
Haim Toledano
The foreign exchange market (forex
) is the largest market in the world for the trading of currencies.
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