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Forex, Trading, Currency

The silliest brokers’ mistakes ever: forex trading education on practice














Read about the cases when no forex training education can prevent you from making online forex trading silly mistakes.

April 2003. The Wall Street Folly announced about a British specialist, well-known because of his successful trade on forex who bought 500 thousand company stocks for 13 pounds each while the actual cost was 70 pence. The loss caused constituted over 6 million pounds.

November 2002. LSE index grew from 404,5 to 653,7 points. It was caused by a trading company mistake, who had EUR and Pounds mixed up when placing quotations for Ryanair.

October 2002. A British trader who was known for his brigt currency trading strategy
made a mistake when entering futures prices, that lead to 3 hours trade interval on derivatives trade – Eurex Exchange with index loosing 500 points.

September 2002. Eurex online currency trading specialist who intended to sell one German index contract DAX, 5180 level, sold 5180 contracts, that caused the fall. Five hours later the Exchange management made decision to annul all the deals that followed that failure one.

December 2001. UBS Warburg, Swiss Bank trader, was going to sell 15 stocks of Japanese company Dentsu for 600 thousand Yens each stock. He sold 610 thousands stocks per 6 Yens each instead. USB Warburg losses were assessed as 71 million pounds.

May 2001. Lehman Brothers bank trader wanted to sell stocks for 3 million pounds. However he pressed the 0 key several times more than necessary and sold stocks for 300 million pounds.

November 1999. A broker sold 16 000 stocks of Premier Oil with total cost over 1,8 million pounds. It happened because he occasionally leaned on the keyboard of the exchange terminal.

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