Why did the Swiss franc black swan incident lead to the bankruptcy of traders?
Because these traders adopt the market-making mechanism ... Nima, regardless of theory, the popular point is the casino mechanism. These dealers gamble with all their customers, which is similar to a casino. The profit principle is that customers are losers for a long time under high transaction costs. There are only two things for these traders to worry about: 1. Under the unilateral trend, a large number of chips are pressed aside. But in fact, traders who have the ability to hedge their positions in other markets have done a good job of risk control. I have seen that when I opened a casino, the dice always produced continuous singles and doubles, and the dealer lost and crashed. ) 2. In the Black Swan incident, when the Swiss franc plummeted, the customers who were long under the high leverage mechanism of foreign exchange had worn out their positions. However, the book profit of short customers is very large. It is impossible for a customer who has penetrated the warehouse to make up money for the trader, who has to pay for the customer who has made huge profits. The result can be imagined. If it is a small platform, it is estimated that it will close the door and run away. If it has some power, it depends on nature. Anyway, it is not recommended that you do foreign exchange and spot in China at present, and the funds are completely insecure. What bank custody, margin pledge, are deceptive. If it's really gambling, then put less money into the account. Anyway, the margin is not much, which is a big deal, but you must find a chance to double it. That's amazing. It is awesome to think that we use this principle to study and formulate our own non-agricultural strategy. Wow, haha. But in the end, I was afraid that the dealer would find out that he was withholding my money. The impact of each accident is different. I think Trump's election may have a greater impact than other events, because the United States is the most powerful and influential country in the world. The principle of moral realism is that the type of leader determines the strategic preference of the country. The change of the same type of leaders has brought little change, while the change of different types of leaders has brought great changes. On the type of leadership, there are some differences among Bush Sr., Clinton, George W. Bush and Obama, while Trump is fundamentally different from them. The Trump administration will have a strong color of "rule by man", and his adjustment of American policy may also change in nature. Whether the change brought by Trump is a short-term phenomenon or will last for a long time is hard to say now.