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Harouna Traoré

Harouna Traoré
2 minute read

Harouna Traoré was a new trader in 2017. He was enrolled in studies in Paris to learn everything he could about the markets.

Having gotten more comfortable with trading, he decided to open an account with a brokerage. Traoré gave a British broker 20,000 euros and he was off. He began using the platform he was given, trying things out with some simulated trading.

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So far he is on the right path. At Earn2Trade we likewise suggest education and then practice for new traders. Harouna Traoré was ready to succeed, but things were not as they seemed.

In reality, he soon found out he was not on a simulated account! By that time he had managed to take a position in the neighborhood of a billion euros, in equity futures. Not just that, he was down one million euros from these trades.

At this point he is losing his mind and worried about what will happen to him and his family. He makes a decision that is both bold and wild, he keeps going. He pushes his position even larger, around $5 billion. In the end he ends up in profit! Harouna Traoré has made $10 million euros in the end.

No doubt more relieved than he has ever been in his life, Harouna Traoré stops trading and calls the broker a few days later. It is not typical that he would be allowed to trade such large quantities without the margin to back it up. Traoré’s account was actually meant to be limited to 10 contracts per day, but obviously something went wrong with that. Too late to worry about that now, though. The trades were complete.

However this was not how the broker saw it. They said he went against the terms of the brokerage contract and that his trades were not valid. This caused Traoré to sue them for the huge pile of money that they now had due to his trades.

It’s a sure thing they will be fighting over that money for awhile. It’s also a sure thing you can practice your trading with Earn2Trade’s simulator accounts, without accidentally putting millions of dollars on the line.

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