People borrowed CHF for a 1-3 day term, collateralised by the e.g. EUR, USD, CAD they would purchase with the proceeds from the sale of the borrowed funds, then mewled when they couldn't afford to meet their voluntary obligation to repay the loan in francs. So Drew's aphorism is appropriate - people sold what they had borrowed, didn't own and couldn't repay. The only way to repay a CHF loan with no CHF income or assets is to go to the market and purchase CHF - at the market rate. I don't understand your purpose in posting here. I refer to your comment "Being able to see prepositioning is the only solution there is." Noted that you give no detail, but cannot see an upside in even stating this - for one it won't be believed by nearly all, and it draws unnecessary attention. I'd estimate that the people who can truly see prepositioning in the market number fewer than 100 worldwide. There are many fairly smart, experienced, successful (7 figures / year) traders who can't consistently identify this prepositioning (or haven't noted the evidence that this exists in very liquid markets). Frankly what you allude to belongs to the handful of independent speculators who have earned 9 figures or higher from their efforts. Difficult to reconcile that someone who has the potential to belong to this class, or at least do extremely well by positioning trades in the direction of their intent, would be spending valuable time arguing with morons on the Internet.
You are assigning mythical status to the ability to see because you can't see yourself. But everyone can see if they have enough experience and given enough time. I reckon there are plenty of people who can see. I came across a couple here who shown indications of being able to see. I can't remember who they are. I have no interest in what other people know because I am satisfied with what I know. Being able to see doesn't mean you have made it. They can run you out all day long if they so choose, or they could wait you out. Their profit is assured and waiting a while is no big deal. But they can no longer out-wait me, and occasionally they seemed to me a bit too desperate to move. Profit is a function of capital. Not having a large pile of it means it remains a slow grind even if you can see. As for playing with internet losers, well, maybe it's fun. I have no strong need for anyone to believe my stuff. It makes no difference to me.
Yes, you are correct. However, the typical FX plunger is a third world or eastern euro striver without the ability or resources to fight.
Yes, unfortunately I'm U.S. based, but I have partnered with a European client whose company holds the accounts in these brokerages. Otherwise, I would be "SOL" (shyte out of luck...). However, just an hour or so ago I was looking into Dukascopy's "white label" partners. I found one or two who have United States on their list, since most of them disallow U.S. personal accounts. No LMAX brokerage partner I know about allows U.S. clients. Some Dukascopy partners do that, so if you PM and follow up on it, and somehow get your hands on a Dukascopy account, then I can royally fix you up with some collaboration using extreme software. I'm no longer client hunting, as we have our own prop business, but always willing to help if I can..... Just use a search engine. PM me or search engine my handle, since this is off topic, and we'll talk. I see you are U.S. east coast so you have a challenge getting access to either of the LMAX or Dukascopy brokerages I use, but "creativity" can go a long way maybe... HyperScalper
Not convinced unless there are statistics. Playing market casinos is a preserve of rich westerners. Online casinos best work in places with well developed infrastructure. But I think too many people are too stupid to know what's happening. So they would let it pass as just bad luck, when in reality luck had nothing to do with it.