Fat Finger

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Forex Trading in the United Kingdom

Forex Trading in the United Kingdom

London has been one of the largest trading hubs historically and to this date is the largest in competition mainly with New York. It has a long history and at the end of 1913, almost half of all forex transactions were done using a sterling pound or GBP for short

422 Views
Forex Trading in Pakistan

Forex Trading in Pakistan

Forex trading in Pakistan has increased recently. The reason behind the increasing popularity of forex trading in Pakistan is that many brokerage firms have started providing its services as the market has continued to develop and has become more regulated.

1707 Views
Forex Algorithmic Trading Overview for Beginners

Forex Algorithmic Trading Overview for Beginners

We all know that the FX market is the largest and most-traded market in the world. From its beginning to the present day, this market has significantly evolved. Around 30 years ago, the Forex market featured trading over the telephone. This market was accessible only for institutional investors. There was also the existence of opaque price information, meaning that there was hardly any transparency.

algo algorithmic trading
428 Views
Forex trading without leverage, advantages and disadvantages

Forex trading without leverage, advantages and disadvantages

Trading forex with or without leverage is an important question every trader should answer before starting his or her investing life.

With over 5 trillion dollars in transactions per day, Forex trading is one of the most exciting ways of making money and even making a decent living for every investor.

693 Views
Forex Arbitrage Trading System Explained

Forex Arbitrage Trading System Explained

Forex arbitrage trading systems have been around for a long time as they offer a low-risk profit opportunity if executed correctly. The main idea is to profit from price differences across exchanges by quickly identifying mispricings. A trader buys the underpriced instrument while immediately selling the overpriced instrument, keeping the difference in prices as a profit.

arbitrage
979 Views
What is Forex Trading and How Does It Work?

What is Forex Trading and How Does It Work?

Have you ever paid attention to the small inconvenience of exchanging money for a holiday trip? Let’s say you live in continental Europe and want to visit the United Kingdom, you’ll have to exchange euros for pounds, right?

forex quotes forex currencies
198 Views
Triangle patterns and how to trade them

Triangle patterns and how to trade them

Triangles are common patterns that come up on the charts when the price is moving in a contracting range. Within those patterns, the price moves in shorter and shorter waves. Triangles are a sign that volatility in the market is declining.

279 Views
Simple Forex Day Trading Strategies for Beginners

Simple Forex Day Trading Strategies for Beginners

Back then, there were times when only big players like the large financial institutions, brokerages, and trading houses, could actively participate in the markets. However, with the rise of the internet, brokers made trading available to the average investors as well.

day trading forex strategies for beginners
2142 Views
Forex trading robots: what are they and how do they work?

Forex trading robots: what are they and how do they work?

Trading the markets can become a tedious effort, especially if you follow the same routine every day. You look at the charts, search for the same setups every day, set the same target and stop loss levels, and then enter a trade.

metatrader MT4 EA Forex Robot Expert Advisor
683 Views
What Are Forex Swaps And Can You Earn Money From Them?

What Are Forex Swaps And Can You Earn Money From Them?

When using the phrase forex swap in the conventional way it is used to describe a derivate trading product that is an agreement to exchange currency between two parties in order to reduce foreign exchange risk. More on this can be read here.

forex swaps
3160 Views
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Author Profile

Fat Finger

Fat Finger

Hello everyone!

My name is Phat Fin Ge, but most people just call me Fat Finger or Mr. Finger.

Many years ago, I was a trader on the Hong Kong Stock Exchange. I became so successful that my company moved me to their offices on Wall Street. The bull market was strong, but my trading gains always outperformed market averages, until that fateful day.

On October 28th, 1929, I tried to take some profits after Charles Whitney had propped up the prices of US Steel. I was trying to sell 10,000 shares, but my fat finger pressed an extra key twice. My sell order ended up being for 1,290,000 shares. Before I could tell anyone it was an error, everyone panicked and the whole market starting heading down. The next day was the biggest stock market crash ever. In early 1930, I was banned from trading for 85 years.

I went back to Hong Kong to work at my family's goldfish store. Please come and visit us at Phat Goldfish in Kowloon, only a 3 minute walk from the C2 MTR entrance.

I thought everyone would forget about me and planned to quietly return to trading in 2015. To my horror, any error in quantity or price which cause a problem kept getting blamed on Fat Finger, even when it was a mix up and not an extra key being pressed. For example, an error by a seller on the Tokyo Stock Exchange was to sell 610,000 shares at ¥6 instead of 6 shares at ¥610,000. That had nothing to do with me or with how fat the trader's finger was, but everyone kept yelling, "Fat Finger! Fat Finger!" In 2016, people blamed a fat finger for a 6% drop in the GBP. It really was a combination of many things, none to do with me or anyone else who had a wider than average finger.

Now that I can trade again, I'm finding forex more interesting than stocks. I've been doing some research on trading forex and other instruments and I'll be sharing it here.

If you see any typing errors, you can blame those on my fat finmgert. If you see any strange changes in price, it's not my fault.