Quote:
Originally posted by MickMason
I wonder where the guy is now.....wait a minute....he's not my mate autofx is he
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LOL, wouldn't be surprized!
The thing that really amazed me about Nick is that he was able keep up that sharade for so long! He's losing millions, yet all the while he's being touted as master trader among his colleagues.
I wouldn't doubt that he could have made money from his position (or at least broke even), had he not been discovered so "soon" (LOL). But you have to consider that he did have the backing of several major financial institutions who trusted and revered him.
In theory, with "unlimited funds", he could have made any/every position he took profitable (eventually) using a martingale type strategy. The thing is Nick must of had some kind of psychological problem. He recovered a couple huge losses previous to the one that "broke the bank", but he continually (habitually) refused to accept his losses and manage his risk responsibly. In the end it got the best of him.
Great true story with many good lessons on what not to do.
Sundance