stelore
Sergeant
- Messages
- 156
Quoting your message Venelin........
And the question now is: what will happen now to those pairs? (before EURUSD was correlated to USDCHF for example)
FOREX PRO WEEKLY January 12-16, 2014
- Thread starter Sive Morten
- Start date
Quoting your message Venelin........
And the question now is: what will happen now to those pairs? (before EURUSD was correlated to USDCHF for example)
Venelin
Master Sergeant
- Messages
- 430
It is a tricky situation! The initial thought with SNB move is that probably massive QE is expected from ECB on the 22nd. But devil is in details as we know and I guess we have to wait for the dust to settle now and wait and see what ECB wolud be buying and how much ?!
4x4Ever
Private, 1st Class
- Messages
- 56
USD/CHF Drastic Sell Off
Sorry if this post seems off topic but I was wondering about this situation on the USD/CHF pair. Frankly I cannot believe my eyes but my charts on 3 different brokers show a huge spike down on this pair. My charts show it was trading around 1.02 level and then dropped very rapidly to below 0.75. Thats over 2,700 pips!?!
Is anyone else seeing this drop? What happened there? And how is it possible that this dropped so far so fast? Thanks for any input and good luck out there! Cheers!
One more note: Thanks Sive for all you do buddy I appreciate and look forward to your reports everyday. You are The Man! Cheers!
Regards,
Markus
Sorry if this post seems off topic but I was wondering about this situation on the USD/CHF pair. Frankly I cannot believe my eyes but my charts on 3 different brokers show a huge spike down on this pair. My charts show it was trading around 1.02 level and then dropped very rapidly to below 0.75. Thats over 2,700 pips!?!
Is anyone else seeing this drop? What happened there? And how is it possible that this dropped so far so fast? Thanks for any input and good luck out there! Cheers!
One more note: Thanks Sive for all you do buddy I appreciate and look forward to your reports everyday. You are The Man! Cheers!
Regards,
Markus
Synchronicity
Sergeant
- Messages
- 182
In cases like that, jumps that are created artifical by major events that influence nations economy, what can a trader do to protect himself?
Do SLs even help in cases like that? There was a void of almost 1000 pips practicaly in an instant. If one puts his stop order in this void and something like this happens, where does your order actually get filled?
There is no money management technique that can save your account if you are positioned against this market. What is there to do in cases like that even if you have SL in place?
Do SLs even help in cases like that? There was a void of almost 1000 pips practicaly in an instant. If one puts his stop order in this void and something like this happens, where does your order actually get filled?
There is no money management technique that can save your account if you are positioned against this market. What is there to do in cases like that even if you have SL in place?
Triantus Shango
Sergeant Major
- Messages
- 1,371
well...
if there is liquidity at your SL level, you should get filled and the SL executed. but if your broker doesn't have access to enough liquidity (not enough LPs (liquidity providers) or LPs of poor quality), doesn't have the proper technology in place on the backend, or is simply dishonest or sloppy, or both, then chances are you SL will either not be executed at your level and with significant slippage--how's a 1000+ pips later (not a typo--one thousand pips--happened to some people i know) for slippage? insane.
so best advice is first not to use leverage. for ex, in case of a 1,000 pip loss on a $10K account with 1 mini lot, that would be a $1000 loss or 10%. not good but not a disaster either. similarly, on a $100K account with 1 standard lot, that would be a $10,000 loss. either way, you'd still be in business.
2nd best advice is to always go with broker that has not just good reputation, but very good reputation. but even that is no guarantee as things change over time and no one tells public. at the end of day, it's still the wild west in financial market land, unfortunately.
and finally, everyone who is shock due to today's event, take at least a week off from trading and news. you need to wash your brain, recover from the psychological stress, relax, find your center again before going back to the market. even more so if you are feeling depressed.
thankfully, i lost a little money, but still i feel as if i got trampled by a wild herd of buffaloes with mad buffalo disease! and i do feel blue, and pissed off at the market in general and at the SNB in particular. i also want revenge (very fuc*%#g dangerous that!) but market will only laugh in my face if i try and then you can be sure i will lose a lot more. so put on indian yoga music with beautiful songs sung in sanskrit (or Alexandrov Ensemble, that's for sive
), take deep breath, aaahhhh.... take deep breath again.... aaaahhhh.... take deep breath again.... or just go find girl (or man, not judging here ) and have good time.
all the best.
if there is liquidity at your SL level, you should get filled and the SL executed. but if your broker doesn't have access to enough liquidity (not enough LPs (liquidity providers) or LPs of poor quality), doesn't have the proper technology in place on the backend, or is simply dishonest or sloppy, or both, then chances are you SL will either not be executed at your level and with significant slippage--how's a 1000+ pips later (not a typo--one thousand pips--happened to some people i know) for slippage? insane.
so best advice is first not to use leverage. for ex, in case of a 1,000 pip loss on a $10K account with 1 mini lot, that would be a $1000 loss or 10%. not good but not a disaster either. similarly, on a $100K account with 1 standard lot, that would be a $10,000 loss. either way, you'd still be in business.
2nd best advice is to always go with broker that has not just good reputation, but very good reputation. but even that is no guarantee as things change over time and no one tells public. at the end of day, it's still the wild west in financial market land, unfortunately.
and finally, everyone who is shock due to today's event, take at least a week off from trading and news. you need to wash your brain, recover from the psychological stress, relax, find your center again before going back to the market. even more so if you are feeling depressed.
thankfully, i lost a little money, but still i feel as if i got trampled by a wild herd of buffaloes with mad buffalo disease! and i do feel blue, and pissed off at the market in general and at the SNB in particular. i also want revenge (very fuc*%#g dangerous that!) but market will only laugh in my face if i try and then you can be sure i will lose a lot more. so put on indian yoga music with beautiful songs sung in sanskrit (or Alexandrov Ensemble, that's for sive
), take deep breath, aaahhhh.... take deep breath again.... aaaahhhh.... take deep breath again.... or just go find girl (or man, not judging here ) and have good time.all the best.
Synchronicity
Sergeant
- Messages
- 182
It's not only the traders that got burned!!
The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.
Important announcement
All the best
Michael
The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.
Important announcement
All the best
Michael
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