UBS Suspends Six Forex Traders

UBS Suspends Six
Forex Traders

http://www.forexconspiracyreport.com/ubs-suspends-
six-forex-traders/
News reports reveal a widening Forex
investigation as UBS suspends six Forex
traders.

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We wrote previously about an international
investigation of Forex markets by the U.S.
Department of Justice, the UK Financial
Conduct Authority, and authorities in the
European Union.

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As always our concern for the Forex trader
is beating the Forex conspiracyas the
wealthy and well-connected manipulate
currency markets.

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News Update as UBS Suspends Six
Forex Traders

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According to the Forex news, UBS
suspended two traders in Zurich, three in
New York, and one in Singapore.

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This is a result of the ongoing Forex
investigation and a direct result of the
bank’s own internal investigation in rigging
of currency benchmarks.

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To date there have been thirty Forex traders
suspended from eleven banks.

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Allegations are that traders used chat rooms
to share info and rig Forex benchmarks
allowing them to trade more profitably
while others incurred losses.

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Another Libor or More

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As UBS suspends six Forex traders at once
investigators are wondering if this will turn
into another LIBOR scandal.

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The LIBOR scandal was when investigators
found that banks were rigging inter bank
loan rates.

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The end result of the LIBOR scandal as that
banks had to pay billions in fines to
regulators, fire dozens of traders and are
still are facing law suits that could run into
the billions of dollars.

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Now we hear that silver and gold trading
may also have been subject to the same
sort of problems as the Forex Conspiracy
with traders fixing benchmarks.

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Strategies for Traders

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With all of this underhanded dealing going
on how how do youbeat the Forex
conspiracy?

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If you cannot trust the end of day fixings and
benchmarks how can you profit in trading
Forex?

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There are still lots of profitable Forex
strategies even if someone is attempting to
rig the market.

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All of them, however, probably involve very
short term market exposure.

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If someone is manipulating a currency pair
you may see substantial and unexpected
price movement.

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If you simply scalp profits while the trend
continues you will typically be able to make
money provided that you do move in and
out of the market rapidly.

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Also one can follow intraday trends but with
the same admonition, keep your presence
in the market short.

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Untrustworthy Fundamentals

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As UBS suspends six Forex traders in a
widening scandal, we are reminded of a
simple fact.

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When there is a Forex conspiracy you
cannot trust fundamentals in the short or
medium term.

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However, you can still trust fundamentals in
the very long term.

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Unscrupulous traders may be messing with
the benchmarks each and every day.

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But, they are not deciding how trade figures
between Japan and the USA will turn out
and they have no say in the US non-farm
payroll report.

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The Forex Conspiracy folks who fiddle with
benchmarks do not have anything to say
about the Russian takeover of Crimea and
the subsequent fall of the Ruble.

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So, as UBS suspends six Forex traders do
not give up on Forex trading but rather
adjust your trading practices in order to
minimize any losses and trade smart.

UBS Suspends Six Forex Traders

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UBS Suspends Six Forex Traders