Dollar Millionaires

[DaveT]

Did anyone see the Evening Standard yesterday?

Apparantly 2 clients of City Index have each made $1,000,000
on the back of the dollar's decline in the last 4 weeks!

WOW! I wonder if they are members of Trade2Win?

Since the move has been almost uninterrupted, they have not been stopped out, according to a City Index spokesman.

What would the initial margin have been on such a trade?

$20,000? $40,000? $50,000+?

Not so bad!

 

[Dow Dog]

They were acting under the advice of Mr Mug.

 

[oatman]

If they're Forex traders, is that insider dealing :cheesy: :?:

 

[Skimbleshanks]

I would suspect that they just compounded their stake, so as their funds increased, so did their stake.

But what would concern me is the publicity angle. After all, it's in City Index's interests to get as much mileage from this as possible, yet for the traders themselves surely they would want to keep their heads down behind the parapet and away from the spongers and Inland Revenue.

No doubt we'll be hearing soon that they were graduates of DW and VS! From DW and VS that is, not from the traders themselves. :cheesy:

 

[jpwone]

Assuming they road it using Euro/Dollar then they would ahve been long Euro from around 1.18 to 1.27 for 900 pips.

They would need to be in at $1100 or thereabouts per pip.

Margin factor of 200 (Fins but probably similar elsewhere) so would need $220k minimum in the account to fund the trade or a credit line of that amount. They would not want to be fully margined so you can add a bit to this.

 

[eminem]

The graduates from DW and VS were more likely to be on the other end of those trades!!

 

[donaldduke]

I didnt read the article but did it state they were speculators?

They could just be large US investors with large amount of US
assets.

These trades might of been a hedge to protect themselves
from the falling dollar. So they might not of made any money
overall.

Of course the spreadbet firm doesnt know the reason behind
the trades and neither will we.. But i does make for good
publicity!

 

[darrenf]

OK, I admit- It was me.........

............In my dreams zzzzzzzzzzz

 

[darrenf]

Just noticed I've made more than 200 posts

Does that make me an OAP member?

 

[Skimbleshanks]

Old Age Poster?

 

[darrenf]

Your bus pass must be well worn out by now!

Or maybe your'e not even of this world? They say you trade on the dark side Mrs Vader

 

[Skimbleshanks]

Yep, I'm just old and decrepit. But I can still knit and press a buy and sell button, so there's still life in the old bunny. :cheesy:

 

[darrenf]

I'm off for my cup of cocoa now and plug in slipper

night night

 

[DaveT]

donaldduke -

Don't know what type of clients they were -

I just read about it in an auto email from Fleet St. Publication's [email protected]

Shimbleshanks - It said City Index, not IG Index. For the record.

Thanks.

 

[Skimbleshanks]

Thanks DaveT - I've corrected it.

 

[MCGF]

Wow! Im over 300 posts now so what does that make me?

 

[MCGF]

Actually ive heard that Darren and Vince did know what was going to happen but didnt feel it was worth the hassle for a paltry million!

 

[oatman]

300+ poster :cheesy:

 

[MCGF]

Lol! Er....thanks!

 

[fokjock]

who are Darren and Vince?, excuse my ignorance