Us cashbackforexbrokerg 400 times leverage, he made $300 million shorting the cashbackforexexness Zeal forex rebate club dollar, and the New forexrebateclub Federal Reserve was horrified! Forex traders, whether novice or professional traders, all hope cashback forex they can one day become a super trader, most of them are eager to have a big deal in their lifetime can change their lives, so that their names in the foreign exchange market immortality but wish is one thing, achieve the desired goal is completely different today, we will introduce you to a short New Zealand dollar for the company net 300 million dollars trader The legendary experience of Andrew Krieger, a trader who netted $300 million for his company by shorting the New Zealand dollar, may inspire you to get more trading inspiration from his trading experience 1987 Black Monday, the global stock market plunged The bull market in the New York Stock Exchange remained for a long time on Monday, October 19, 1987, a day of stunning decline, the Dow Jones Industrial Average plunged 508 points, down 22%, a day The total value of stocks lost in one day was dizzying - twice the total value lost in the Wall Street crash of 1929 - and in the chaos, more than $600 million worth of stocks were sold off. After the stock market collapse, all the traders were overwhelmed, while one trader made a name for himself with his aggressive trading strategy: Andrew Krieger, a graduate of the University of Pennsylvania, first worked for Salomon Brothers in 1986 and then joined the Bankers Trust Group. He soon made a name for himself and the firm gave him a high level of trust, authorizing him a capital limit of up to $700 million, far exceeding the $50 million limit that was set This also managed to allow him to make a spectacular profit during the wild crash of the U.S. stock market on October 19, 1987 After the Black Monday crash, investors turned to other currencies and sold dollars Andrew, however, did not care much about what was happening around him, knowing that certain Through dispassionate analysis, he targeted the New Zealand New Zealand dollar, which he believed was vulnerable to market short sellers and had previously been dominated by short-selling forces Through the options market, Andrews predicted that the New Zealand dollar would collapse In fact, this short position already exceeded New Zealands money supply Plus the confidence he had built up early in his career With confidence built up early in his career, he decided to use $40 million in a 1:400 leverage margin trade and his $40 million, 1:400 leverage short position was the last straw that broke the camels back and had a catastrophic effect on the New Zealand dollar, dropping 5% against the U.S. dollar in just a few hours, a drop that brought Andrews firm, Bankers Trust Group, a $300 million profit. The damage to the New Zealand dollar caused so much controversy that the New Zealand Federal Reserve and government officials kept asking the owners of Bankers Trust to call off Andrews deal. The following year, Andrew left the firm with the $3 million he had made on the deal and began working for another financial legend and predator, George Soros. He resigned from the Bankers Trust Group partly based on pressure from the New Zealand Fed, but also because he was disgusted and angry that he had made $300 million for the firm and only received $3 million superior manipulation is a combination of skill and confidence While many believe that Andrews profit had a large element of luck, we can all see that fundamental analysis played an important role in this trade Andrews had the right information and market-watching skills to actually identify overvalued currencies In hindsight, this risky move could have cost the firm a fortune, but his confidence in his findings became the final successful outcome of the surge Another thing to consider here is that a good trading strategy must also include exit timing Although Andrews was right in his decision at the time, the New Zealand dollar began to trade in 1988. The New Zealand dollar began to rise sharply in 1988, which meant that he closed his position at the right time. Successful traders like Andrews are always looking for new opportunities in the market, and they never take their eyes off the latest trends. His techniques were so unique and effective that Bankers Trust Group tried to study and master his trading techniques after he left the firm, but they turned out to be too complex and ultimately failed to truly understand his trading strategy
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