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Order flows, Order Flaws!
QuoteDislikedOn a positive note to conclude this review, a trader from JP Morgan lost $218 million today on a speculative trade on the GBP/USD. Bank of China dumped the pounds earlier today during the UK session, then JP Morgan followed the lead. Then a big Middle Eastern bank bought a bunch of pounds, and reversed the direction, and caused a very big loss to JP Morgan. I hope that trader that lost so much didn't lose his job... I am sure you won't hear about this on the news, but the loss could be seen by one of my friends on the interbank feed in the order flows. Why is it a positive note? Well...apparently bank traders lose money too once in a while. And if you broke even today, or had a small loss, I hope it wasn't as much as $218 million, and you should be happy
Order flows, Order Flaws!