I feel bad for all you FX traders, the online scamming community took away the prestige of being able to say you are a real FX trader. Now society just buckets you with the rest of those muppets.
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Weird pattern — I actually don’t know any institutional macro guys who make most of their money in FX spot. I kind of wonder if there’s literally 1 guy who nobody knows who just owns it all
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Or so the urban legend says. The truth is FX market is relatively small and also close to perfect competition state (vs US equities which is neither)
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Isn’t spot fx turnover like $1-2tn a day (per BIS) vs $100s of bns in US stocks?
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