In the future, 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 subsequent morning, he woke as much as discover that his account stability had been worn out. Puzzled, he checked his commerce and noticed that he had unintentionally opened a brief place as a substitute of a protracted place. He had wager towards the euro as a substitute of for it.
Feeling embarrassed, he contacted the dealer’s assist group and defined his mistake. The assist group member, attempting to be useful, requested him how he had made such a fundamental error. The dealer replied:
– “Nicely, I assumed ‘brief’ meant ‘short-term’ and ‘lengthy’ meant ‘long-term.'”