I am sure these guys will agree with the OP, as it is in their best interests. http://www.efinancialnews.com/story/2016-12-07/credit-agricole-hsbc-jpmorgan-euribor-fine The markets will never change, just the people who run them.
JP Morgan, Crédit Agricole and HSBC fined €485m over Euribor cartel JP Morgan, Crédit Agricole and HSBC have been fined just shy of €500 million for their alleged roles in a "cartel" that manipulated the Euribor benchmark. JP Morgan incurred the largest penalty of the three banks The European Commission said in a December 7 statement that the banks "colluded instead of competing with each other on the euro derivatives market" between September 2005 and May 2008. The banks are alleged to have colluded on euro interest-rate derivative pricing elements and exchanged sensitive information, in breach of EU antitrust rules, the Commission said. It has fined JP Morgan €337.2 million, the largest penalty, with Crédit Agricole fined €114.7 million and HSBC €33.6 million. The penalties – which follow a settlement reached with Barclays, Deutsche Bank, Royal Bank of Scotland and Societe Generale over the alleged cartel in December 2013 – come after a five-year investigation into alleged rigging of Euribor, a measure of the cost of interbank lending in euros. Commissioner Margrethe Vestager said: “A sound and competitive financial sector is essential for investment and growth. Banks have to respect EU competition rules just like any other company operating in the single market." A JP Morgan spokeswoman said: “We have cooperated fully with the European Commission throughout its five year investigation. We did not engage in any wrongdoing with respect to the Euribor benchmark. We will continue to vigorously defend our position against these allegations, including through possible appeals to the European courts.” An HSBC spokeswoman said: "The European Commission’s decision relates to allegations of Euribor manipulation and related purported conduct during the course of one month in early 2007. We believe we did not participate in an anti-competitive cartel. We are reviewing the European Commission’s decision and considering our legal options." Crédit Agricole said in a statement that it "firmly believes that it did not infringe competition law. Accordingly, it will appeal the Commission’s decision before the European courts".
Accumulators backing favourites at home paying at least x20 paired with insurance like EDGE (if 1 loses) is 100% PRM, small risk, big gain, whilst keeping it real (as in don't back unrealistic odds like x50+).
This is a great thread. All newbs and veterans alike ought to go back and reread the OP's post and contributions. Truer words never been spoken, when it comes to the markets...
Re-posting of original posting for you, the new reader: This is a fact. In order to be successful in trading, it doesn't matter whether you are right or wrong when placing a trade. What does matter is that when you are wrong, you lose a little bit and when you are right, you maximize your gains. Why do most traders (especially day traders) lose? They don't have prudent risk management skills. End of Story. Now, a lot of folks may say, "but the newbie trader doesn't know how to pick entries and exits". While that may be true for some, the real issue is that when they are wrong, they stay married to a position, or add to a position in order to not admit failure. Your best bet would be to learn to embrace failure, learn to shrug it off, learn to admit when wrong and learn to stay in trades that are winners. You see, Prudent Risk Management is not just about placing an initial stop---it's also about managing a winning trade. Remove the focus from high winning percentage. Retrain focus on losing a little and making a lot.