Continue reading...Europe may be in calmer waters after the currency bloc’s leaders hashed out a EUR 1 trillion plan to save the currency bloc and pull Greece out of the way of default, but the last few weeks have taught us valuable lessons that we would be wise not to forget. Trading is always risky and there are always events that can happen that you can never plan for.
Trading currencies is even riskier. Since a currency ‘s value depends on a huge multitude of factors including politics, economics and even social issues, you can prepare as best you can, but the chances are at one time or another you will get caught out.
For example, a developed western nation had not defaulted for nearly 70 years, yet here we are talking about how close Greece was to going bankrupt, defaulting on its debts and dragging the entire Eurozone down with it. If you told this story to an alien with no knowledge of Europe or the debt crisis then they would probably be flabbergasted that the 32nd largest economy in the...
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