forex cashback easy

Do collapse of the New Zealand dollar culprit - Andy Craig

If you trade a certain number of years, t cashbackforexpipn you certainly will not forget Black Monday October 19, 1987, the financial markets collapsed, the Dow Jones fell nearly 22% panic quickly The panic spread around the world, forex cashback easy by the end of October, most markets had fallen by more than 20% However, this panic had no cause, and in fact, as investors scurried for their lives, the market commotion itself became a self-fulfilling prophecy However, for Andy Craig, the end of the world cashbackforex just another opportunity Andy. Craig At the time of the stock market crash, Andy Craig was seen as one of the worlds most aggressive currency traders After graduating from Wharton, he joined Salomon Brothers and then moved to Bank of America Trust in 1986 Despite his aggressive forex 100%cashbackforex, and perhaps because of it, he quickly gained the trust of the companys board of directors He was rewarded with a $700 million trading limit, well above the He was rewarded with a $700 million trading limit, well above the $50 million trading limit most traders routinely attacked the forexcashbackeasy cashback forex dollar As Craig watched the consequences of Black Monday unfold, he realized how vulnerable the New Zealand dollar had become He thought it was time to take action and went lower in a creative and surprisingly aggressive way He not only had a $700 million trading limit, but could also trade through foreign exchange Using huge amounts of leverage with 400:1 leverage, he was able to exert unsupportable pressure to bring down the New Zealand currency in fact, he built up a short position with so much money that the New Zealand banks were simply defenseless. It takes a will of steel and absolute confidence to make such a trade, and Craig had both the New Zealand dollar collapsed Craig won the bet Within hours of his attack, the New Zealand dollar plunged 5% against the U.S. dollar Craig made an easy profit of $300 million, which went directly into the vaults of Bank of New Zealand, but Craig calmly pointed out that New Zealand was too small to handle the trading operations of Shinef Bank, from which you can see that he was extremely arrogant left the field However, Craigs arrogance may also be the cause of his own destruction In 1988, he resigned from Shinef Bank in the United States for the simple reason that he believed that the $3 million bonus he received from this foreign exchange transaction was too small, which made him disgusted with his On the other hand, Bank of Credit Suisse had a hard time understanding the complexity of Craigs trading strategy, or perhaps the convoluted nature of his trading strategy, and ultimately, faced the difficult task of reaffirming his forex trading profits Craig eventually moved on to work for George Soros, but thats another story