Boris Schlossberg
BKTraders and Prop Traders Edge
In this video, I explore the infamous case of Nick Leeson, the rogue trader who single-handedly brought down Barings Bank, Britain's oldest merchant bank, in 1995. This shocking financial disaster reveals how one trader's hidden losses spiraled to $1.3 billion, destroying a 233-year-old institution that had survived both World Wars.
Learn how organizational weaknesses and poor supervision enabled this historic collapse. The video examines Leeson's background, prison sentence, and his remarkable post-prison transformation. Special focus on lessons for modern traders and financial institutions about addressing losses immediately rather than hiding them. I share Leeson's current perspective and how his story continues to influence risk management in global finance today.
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
Editors’ Picks
EUR/USD consolidates weekly gains near 1.1750 after PMI data
EUR/USD trades marginally lower on the day near 1.1750 in the European session on Friday. The data from Germany and the Eurozone showed that the business activity in private sector expanded at a modest pace in January, helping the Euro hold its ground. In the second half of the day, US PMI data will be watched closely.
When are the UK Retail Sales and how could they affect GBP/USD?
The United Kingdom docket has the Retail Sales data for December to be released by the Office for National Statistics (ONS) on Friday, later this session at 07:00 GMT. UK Retail Sales are expected to decline by 0.1% month-over-month in December, following a 0.1% decline seen in November.
USD/JPY falls sharply following a jump above 159.00 after BoJ
USD/JPY declins sharply toward 158.00 after rising above 159.00 in the European session on Friday. The Bank of Japan left its monetary policy settings unchanged following the first policy meeting of the year, as expected, but Governor Ueda noted a weak Japanese Yen could lead to a rise in import costs and be passed on to domestic prices.
Editors’ Picks
EUR/USD consolidates weekly gains near 1.1750 after PMI data
EUR/USD trades marginally lower on the day near 1.1750 in the European session on Friday. The data from Germany and the Eurozone showed that the business activity in private sector expanded at a modest pace in January, helping the Euro hold its ground. In the second half of the day, US PMI data will be watched closely.
Gold pulls away from record-high, holds above $4,900
Gold loses its traction and declines toward $4,900 after touching a new record-high near $4,970 earlier in the day. The modest US Dollar recovery ahead of US PMI data causes XAU/USD to stretch lower, while investors keep a close eye on geopolitics.
USD/JPY falls sharply following a jump above 159.00 after BoJ
USD/JPY declins sharply toward 158.00 after rising above 159.00 in the European session on Friday. The Bank of Japan left its monetary policy settings unchanged following the first policy meeting of the year, as expected, but Governor Ueda noted a weak Japanese Yen could lead to a rise in import costs and be passed on to domestic prices.
Bitcoin shows mild signs of recovery, Ethereum and Ripple remain under pressure
Bitcoin, Ethereum and Ripple show mixed signals at the time of writing on Friday as the broader crypto market attempts to stabilize after this week’s sell-off. BTC extends its recovery after finding support around a key level.
A tough road ahead for the Bank of Japan
The BoJ paused rates at 0.75%, expressing greater confidence in growth and reaching the 2% inflation goal. The challenge is balancing rate hikes to support JPY without slowing growth.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
I’m often mystified in my educational forex articles why so many traders struggle to make consistent money out of forex trading. The answer has more to do with what they don’t know than what they do know. After working in investment banks for 20 years many of which were as a Chief trader its second knowledge how to extract cash out of the market.
5 Forex News Events You Need To Know
In the fast moving world of currency markets where huge moves can seemingly come from nowhere, it is extremely important for new traders to learn about the various economic indicators and forex news events and releases that shape the markets. Indeed, quickly getting a handle on which data to look out for, what it means, and how to trade it can see new traders quickly become far more profitable and sets up the road to long term success.
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and selling pressure. Chart patterns have a proven track-record, and traders use them to identify continuation or reversal signals, to open positions and identify price targets.
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
The challenge: Timing the market and trader psychology
Successful trading often comes down to timing – entering and exiting trades at the right moments. Yet timing the market is notoriously difficult, largely because human psychology can derail even the best plans. Two powerful emotions in particular – fear and greed – tend to drive trading decisions off course.