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At some point, a novice dealer opened a foreign currency trading account with a dealer and determined to attempt his luck at buying and selling. He learn a couple of articles and watched a couple of movies on foreign currency trading and thought he understood the fundamentals. He opened a protracted place on EUR/USD and went to mattress, assured that he would get up to a tidy revenue.
The following morning, he woke as much as discover that his account steadiness had been worn out. Puzzled, he checked his commerce and noticed that he had by chance opened a brief place as an alternative of a protracted place. He had guess in opposition to the euro as an alternative of for it.
Feeling embarrassed, he contacted the dealer’s assist workforce and defined his mistake. The assist workforce member, making an attempt to be useful, requested him how he had made such a fundamental error. The dealer replied:
– “Nicely, I believed ‘quick’ meant ‘short-term’ and ‘lengthy’ meant ‘long-term.'”
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