A forex tale
this tale occurred way back when, in June 2000. It sure was a bummer of a market back then.. So anyway, my father and i were starting out with a pretty modest bankroll of 1340 dollars at Interbank and the session went basserk. I was told that the updates in the welding equipment imports are going to impact the ARS-ILS rates for the better. This exerp told me the plan of waiting till then and then selling is fool proof! Well to begin with i suspected some chicane or something, but after listening to the true gravity of what i was being told, i go: true, chances are slim, but darn right i'm in! I limited order 100 mini lots. I was watching the display for half an hour, as the stop loss line slowly closed in on me, untill some really ordinary variance turned noticed. This bastard of a base currency was blasting through the roof! I sold at 39 percent of loss. So i was getting minorally vexed about the disastrous quandary in which i happened to. So much for the notion that ARS-ILS rates will be affected by the increase in the heavy machinery imports, and probably is going to soar. I had just brought home 100 Valeries and that was the bottom line. Not half a pixel after, right after GTCing, the account unloaded at a profit of 32 percent! Heck, i wasn't expecting that to happen! So i had lost virtually all the bucks i started out with, but at least i was still wearing my shirt!
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wolfe59,
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