Let me tell you a real story about a forex failure.which I read online
(Passive voice)
I met a guy at a birthday party who told me about his bitter experience with Swiss francs. I guess he must have drunk a few glasses of wine, or he wouldn't have opened up about it. It was a humbling experience for him, as he believed himself to be proficient in finance.
The guy's name is Erik, and he has a successful seafood production company in Germany.
It all started when he took a loan worth 1.5 million euros for a new production facility. He took the loan in Swiss francs from a Swiss bank because they offered low interest rates, and he believed that Swiss banks are the most stable in the world.
Unfortunately, not long after receiving the credit, the Swiss franc catapulted by 30% due to the Swiss National Bank's decision to remove the cap on the franc's value against the euro.
Pretty painful, right?
And it was not just him. Hundreds of businesses were significantly impacted by that single event.
Could Erik have foreseen such a scenario?
Yes - if he knew about the intrinsic upward pressure on the Swiss franc and understood how to interpret the financial news about the struggles of the Swiss National Bank to keep the franc artificially down.
Many traders who understood these principles and followed the markets made a fortune from this event.
Why did I share this story with you?
Because after carefully learning with me, you will learn such principles, and you'll be able to detect profitable opportunities and threats as they form.
As you see, mastering the fundamental drivers of currency prices is essential not only for making successful trades but also for every business person.
So let's start and enjoy the ride!
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