[decentralised]

Mmmh... I was a CTO at a crypto-exchange which as everyone knows don't have circuit breakers.

The amount of emails we received from customers complaining they lost a lot of money while they were asleep was part of the reason I left, and now also part of the reason I think whichever traders WSJ interviewed (can't see article bc it's paywalled) are wrong.

[btbuildem]

Currencies trade 24x7, and somehow that works just fine.

[decentralised]

It doesn't work just fine at all. I could tell you plenty of stories and industry insights but I'll leave you just with one nugget I got at a market-maker conference last year: not even 20 cryptoexchanges are profitable, and this information comes from those who are paid to make markets.. move.

edit: I think maybe you were referring to ForEx currencies only.. well, there's a difference between a broker and an exchange and I'm constantly surprised traders don't know this.

PS: I worked at Euronext too (many years ago)

[notahacker]

That's mostly because the vast majority of people holding currency aren't doing so to speculate on its future value.

[gruez]

Those traders are wrong because.... there are a bunch of self-centered idiots who can't take responsibility for themselves?

[decentralised]

The actions of professional traders affect retail investors, companies and trust in markets as a whole.

If price discovery and liquidity where solved problems, then of course a crypto-like model of 24*7 no holds trading would be a nice to have but the truth is very different here..

[vorpalhex]

That's also an issue of crypto exchanges not having "open" hours isn't it?

[decentralised]

It's the same thing as not having circuit breakers really. The closing hours allow regulated markets to be more efficient imho