$7 Billion Disaster: The Shocking Secret of a Junior Trader That Nearly Destroyed a Bank Back in 2008, in the high-stakes world of finance, a seemingly ordinary junior trader named Jérôme Kerviel at Société Générale pulled off one of the most reckless financial schemes ever seen. This guy was quiet, hardworking, and unassuming, but beneath this facade, he was playing with fire. Kerviel was stationed at the Delta One desk, trading European stock futures. Instead of playing it safe by hedging his bets, he started to take wild, unauthorized risks. It was like he was gambling with the bank’s money, not trading. He wasn’t balancing risk; he was embracing it, doubling down on his bets like a man possessed. His ambition was his downfall. Without the elite background or fancy degrees, Kerviel had something to prove. In the pressure cooker of finance, ambition can be your best friend or your worst enemy. For Kerviel, it was the latter. He started placing massive, unauthorized bets on European index futures, thinking he could beat the market. When his bets paid off, he covered his tracks with fake trades, making it look like he was within the bank’s risk limits. This charade went unnoticed for months, thanks to the bank’s oversight failures. But when the European markets got volatile in early 2008, his luck ran out. A routine check finally caught the discrepancies in his accounts, and Société Générale launched a frantic investigation. They discovered the extent of Kerviel’s rogue trading and in a panic, started selling off his positions. This sell-off was like throwing gasoline on a fire. It spooked the markets even more, amplifying the losses. By the end, Société Générale was staring down a $7 billion hole — one of the biggest trading losses ever. The bank was in chaos. Kerviel faced the music, arrested and charged with breach of trust, forgery, and unauthorized use of bank computers. He was sentenced to five years in prison, with two years suspended, and ordered to repay €4.9 billion. He claimed he was just a scapegoat, that his bosses knew about his trades when they were making money, turning a blind eye to his risky behavior. This story isn’t about motivation; it’s a cautionary tale about ambition unchecked, about the dangers of letting greed and the desire for recognition drive you to make decisions that can bring down giants. It’s a reminder of how one man’s actions can send shockwaves through the financial world, leaving a trail of destruction in his wake.
OneX Trade Alert: XAUUSD Signal: SELL Entry Price: 2650 SL: 2660 = 100pips TP1: 2645 = 50pips TP2: 2640 = 100pips TP3: 2619 = 290pips TP4: 2610 = 400pips Note: If TP1 is hit, move SL to entry or keep original SL & wait for the next TP or close when you're happy with the profits!. Close Opposite trades and follow new trade. Use Good Money Management
Entry: 0.82931 Stop Loss: 0.82223 Take Profit 1: 0.83825 Take Profit 2: 0.84367 Take Profit 3: 0.85151
Ah man my old research station. Looks good to long as directions marked!
COINEX:BTCUSDT It is still being revised and it may happen like this.
As I like to remind my friends - if you are not trading crypto, you are not paying attention to the new economy happening primarily on mobile devices and various blockchain specific wallet-based swapping platforms like Ape.pro on Jupiter, COINBASE:UNIUSD Uniswap, and BINANCE:SOLUSD Solflare, and the ever expanding Base ETH markets on Uni and elsewhere. Don't for get to buy DICKBUTT on Base when you have some spare KRAKEN:ETHUSD or CRYPTO:OPUSD to convert to use on Base. The real beauty of the markets of Optimism, COINBASE:ZKUSDC , Base/ETH and more on Uniswap is the very low fees, almost no fees compared to the terrible nightmare that is ETH fees... Get to know and love trading Optimism and Base tokens with practically no fees!! Who knew? Well some of us do. Stay careful of unknown tokens and strange "airdrops" that show up in your Uniswap wallet, they could be malicious smart contracts designed to steal your coins. Just a sample of the headlines out there: Meme Coins Decimated Amid Crypto Massacre: BONK, FLOKI, AI16Z Hit Worst As Bitcoin (BTC) fails to hold above $100,000 for the fifth consecutive try, the cryptocurrency market plunged by 8.3% in a few hours. Here's why meme coins suffer the most while some of them are already back to surging. Read more on U.Today https://u.today/meme-coins-decimated-amid-crypto-massacre-bonk-floki-ai16z-hit-worst On the upside, we do have more crypto-friendly people being appointed to government positions, especially in the US which has faced an uphill battle against current crypto regulators. KRAKEN:BTCUSD is down, but so is every token in every market right now. There will be a recovery, even if timeframe is uncertain. We are still just weeks before the American presidential transition which will cause even more shake up in the world economy. How will the rest of the week develop? Will we see a return to positive trends in alt-coin markets and a recovery of CRYPTOCAP:BTC beyond the magic 100k mark? Watch your charts and keep your favorite indicators handy. Remember habibi, the desert tests your will, not your strength.
Crypto Trading Fam, It's time for me to put out a note of caution. I have been bullish but a few days ago while doing my video, I spotted this pattern mid-session, hoping I would be wrong. Looks like I was not. The H&S pattern has now formed. This means we have an 85% probability that we'll drop to our next support of 75k. Yikes! Now, 15% of the time a H&S pattern can fail. We can only hope this will be the case. But while hoping, prepare your SLs. Could get ugly for those alts! ✌️ Stew
ethusdt short targets 1 2 3 done 1225%LEV X 100 245% LEV X 20 Trading is not easy, there are difficult times too. However, with a lot of courage and strategies, we always end up facing these bad times. Don't be afraid to hit stop losses, there is no shame in hitting stop losses. Hitting the stop loss does not make you a bad trader. Even a good trader does not win all his trades, but he wins more than 75% of them or at least he remains positive or stable in his portfolio. DON'T BE AFRAID WE WILL ALWAYS COVER OUR LOSS AS PROMISED
A chart patterns displaying stock at resistance with Fibonacci retracement level. Not a trading recommendation.
So the drama of XRP unfolds, You ought to scalp easily, you short to buy and again buy to sell or buy at the point market to sell at top so all depends on you and also doesnt so i dont know what you would do just if you feel to have a adrenaline rush take it.