TraDaToR replied to the thread Ag trade ideas.
Out half @ 3.75:cool:. Keeping the rest in case of last week rallyJun 22, 2018 at 10:53 AM
Since it is the UK,I would like to know if he was trading under "title-transfer" or segregated funds... Under first structure( funds...Jun 21, 2018 at 2:24 PM
The crux of this issue is what is called the meeting of minds specifically due to mistake in contract law and the issue of equivalence....Jun 21, 2018 at 2:21 PM
Thanks for breaking that down....this story seems extremely made up!!!Jun 21, 2018 at 2:07 PM
...Jun 21, 2018 at 1:45 PM
Maybe it was not us$ but Zimbawbe dollars. Then the position would be roughly 12 million euro instead of 5 billions us$. [ATTACH]Jun 21, 2018 at 1:43 PM
Probably was no margin if it was a day trade. Or at least they weren't checking it intra day. Insane risk, if the market had tanked just...Jun 21, 2018 at 1:32 PM
5 billion notional in the ES would be around 36,500 contracts. At 1,600 $ margin it would be almost 60 million $ account size. And...Jun 21, 2018 at 1:29 PM
Pretty sure he would have been held responsible by the brokerage...Of course he wouln't have been able to pay, would have filed for...Jun 21, 2018 at 11:09 AM
Yes, you must be right. I don't know the instruments he was trading, but using 100K notional per contract, it would mean 50000 contracts...Jun 21, 2018 at 10:20 AM
When you have a 1 B$ position losing 1M $ and you are worried for your family, make it a 5 B$ position...Pearl of Wisdom from Mr TraoréJun 21, 2018 at 9:59 AM
TraDaToR posted a new thread.
And you bet it, he is suing the brokerage...LOL... Only in France.... Kerviel, Iksil and now Traoré...Not at the same level but this one...