What a day in the currency market?!!! The impact of SNB's action on the currency market is just beginning to unfold as most brokers, and trader that were unfortunate to be on the wrong side of the market have been wiped out of business. Luckily for me, I was still sleeping when this happened and only came into the market around US open, and as soon as I saw the charts, I just decided to sit on my hands and do nothing. Although I later took a CHFJPY short, long after the dust settled and took 60+ pips in 2 minutes but just received a letter from a broker that lost all its operating capital as a result of the market moves.
I trust you guys are all okay and doing well, and this goes to underscore the important of using stop losses in our trading, although I don't know whether a SL would have made any difference today.
Trade safe guys, and God bless
Shalom
George
I trust you guys are all okay and doing well, and this goes to underscore the important of using stop losses in our trading, although I don't know whether a SL would have made any difference today.
Trade safe guys, and God bless
Shalom
George
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