Trading with Andrew Krieger
Andrew Krieger: A Maverick Trader Who Left a Mark in Forex
Andrew Krieger’s trading career is often associated with boldness and audacity, earning him a place of prominence in the annals of financial history. While he is well-known for his involvement in the infamous 1987 Black Monday stock market crash, Krieger’s success extended beyond equities into the world of Forex trading, where he displayed his exceptional trading acumen and ability to read market sentiment.
A Remarkable Trade: Shorting the New Zealand Dollar
One of the defining moments in Andrew Krieger’s Forex career was a trade that would become the stuff of legends. In this noteworthy transaction, Krieger set his sights on the New Zealand dollar (NZD), a currency that was seemingly out of reach for most traders due to its relatively limited liquidity and New Zealand’s relatively small money supply.
Krieger’s audacious move was to short the New Zealand dollar to a staggering tune of $700 million. To put this into perspective, the size of his position exceeded New Zealand’s entire money supply at the time. This audacious decision was rooted in Krieger’s belief that the NZD was vastly overvalued in the foreign exchange market. His conviction was unwavering, and he was willing to commit…
