Who has taken adv of the EU exit??

yes, there was reasons for those previous changes, direct and immediate changes in Chinese monetary policies, changes in actual import/export demands etc.

brexit was NOT a reason for the market turmoil, there has been absolutely no change whatsoever in any regards to the eu as of yet. and won't be until article 50 is activated, at which point negotiations to work out what changes THERE WILL BE will begin. at the conclusion of those negotiations a timetable will be established for the changes to take effect, or 2yrs from activation of article 50 (whichever is soonest), in the case of a negotiated changeover, that could well be a staged transition to minimise negative effects for both sides.

there is no change in any trading relationships at this time, and currently no timeframe for any change in trade relationships, and no concept yet of what shape any new trade relationships will take, ergo, there was no reason for the markets to change, and no conceptual model on which to factor in and price any changes in regards to any future trade relationships.
therefore there was no valid financial reason for the market to move at all based on the vote itself.

the reason for this movement was because the markets (traders) incorrectly assumed a result and falsely priced the markets accordingly and then completely overreacted ( their standard modus operandi ) when the actual result was not in line with their expectations. the markets had already starting retracing those falls in the afternoon, and I fully expect that retracement to continue over the next week.
you can blame the market traders themselves for the market turmoil, not the vote itself.

19th...one of the most sensible posts i have seen since Wednesday. The world is still spinning, the markets are still functioning and the only aspect that has really changed is I made £1000 in a few yrs.

^^^^^^Hrs.....

the only aspect that has really changed is I made £1000 in a few yrs.

well, yes there's that, although it's not a particularly meaningful change to anyone else.
probably the biggest real change so far is that a lot of remain voters, uk politicians, eu technocrats, market traders and international monetary oversight commitees have got, in the words of ian dury, very 'crinkly mouths', and all because (paraphrased) when we did a bit of splitting-em-ness, it frightened everybody sh1tless.

I'm not gonna bother debating the eu vote, but my trading mate made £450,000 on Thursday night with a risk exposure of only £5k

Puts your gains to shame got better. Your trading game needs work

Thats awesome Brennie, he obviously leveraged and went short...right?

comment by Got_Better (U6241)
posted 1 day, 13 hours ago
Thats awesome Brennie, he obviously leveraged and went short...right?
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Yeah. Leveraged like a madman when everyone still didn't believe a leave vote was possible. I could never do what he does. Spent the last couple of years trading with his own money and now started his own hedge fund. Requires balls of steel to risk your own money (at one point he basically lost it all )

it's damn scary all right. at one trading arcade, most of the trader's were trading with their own money, a couple were backed by the arcade.
watched one trader make £3M+ profit in one day, he then lost about £2M the next day.

worst thing is if the markets doing something, and a trader has a big position on, they won't leave the screen to use a toilet. they will literally sit there and crap themselves.
doesn't make for a particularly nice working environment.
damn glad i never had to share a packed tube carriage home with them afterwards.

comment by Brennie Babes (U8994)
posted 1 hour, 44 minutes ago
comment by Got_Better (U6241)
posted 1 day, 13 hours ago
Thats awesome Brennie, he obviously leveraged and went short...right?
----------------------------------------------------------------------

Yeah. Leveraged like a madman when everyone still didn't believe a leave vote was possible. I could never do what he does. Spent the last couple of years trading with his own money and now started his own hedge fund. Requires balls of steel to risk your own money (at one point he basically lost it all)

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I got my funds frozen as part of anti money laundering during the Greece crisis whilst shorting the Euro with a leveraged exposure of about £480,000.

I might caveat that "Negative balance protection" is the order of the day with such gambles. Otherwise i would have ended out completely destitute. You need to maintain margin to keep the position open, but should it turn to ratshit you don't lose more than you gambled. Limited downside/maximum upside. Even with a system such as that 99.9% of the time the market is on a random walk 1 hour to the next. Which means the more leveraged you are the harder it is to have enough margin to keep the position open. How most companies eventually wipe you out. Taking a short on the GBP/USD right at close of business, at a leverage of 1/200. Would have got you £200,000 for £1,000. The 14% drop in the £ would have netted you £29,000 by 9am the next day, with a maximum exposure of £1000.

Not bad if you can get it. lol