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Attachments: Funny / Scary forex Quotes ..on market closed.
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Funny / Scary forex Quotes ..on market closed.

  • Post #1
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  • First Post: Edited Nov 25, 2007 8:42pm Nov 24, 2007 11:20pm | Edited Nov 25, 2007 8:42pm
  •  Syafi
  • | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
See image.... 3000 pips jump on USD/JPY


Few second later GBP/JPY follow suit by 1900 pips.......
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  • Post #2
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  • Nov 25, 2007 1:42am Nov 25, 2007 1:42am
  •  Syafi
  • | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
This must be the craziest ever...........Over 52 000 pips UP.........
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  • Post #3
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  • Nov 25, 2007 2:24am Nov 25, 2007 2:24am
  •  Fumafuma
  • | Joined Dec 2006 | Status: Japanese Forex Analyst | 178 Posts
Quoting Syafi
Disliked
This must be the craziest ever...........Over 52 000 pips UP.........
Ignored
I also saw the attachments on 2ch(largest Japanese Internet forums including forex forums) a little ago, these forex quotes have become topics of conversation...
Well, my financial asset consists mostly of savings(yen deposits at Japanese banks) though, at that rate, I don't have to withdraw my investment fund priced in dollars from US brokers, LOL.
Peace and Happiness through Prosperity (by Konosuke Matsushita)
  • Post #4
  • Quote
  • Nov 25, 2007 5:56am Nov 25, 2007 5:56am
  •  Syafi
  • | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
Quoting Fumafuma
Disliked
I also saw the attachments on 2ch(largest Japanese Internet forums including forex forums) a little ago, these forex quotes have become topics of conversation...
Well, my financial asset consists mostly of savings(yen deposits at Japanese banks) though, at that rate, I don't have to withdraw my investment fund priced in dollars from US brokers, LOL.
Ignored

Wont it mean you get 50000 Yen more for each dollar if you withdraw it then
  • Post #5
  • Quote
  • Nov 25, 2007 1:27pm Nov 25, 2007 1:27pm
  •  bluebuddha
  • | Joined Apr 2007 | Status: Nobody™ | 356 Posts
Yeah, once in a blue moon, Oanda throws a huge spike on the Sunday evening open that catches a lot of traders to stop out or get into a bad position. However, they're pretty good about fixing the problem, and contribute it to their automated requoting system grabbing one of these oddball weekend prices from one particular bank and using it as the best price.
  • Post #6
  • Quote
  • Nov 25, 2007 2:44pm Nov 25, 2007 2:44pm
  •  mike w
  • Joined Jul 2006 | Status: Member | 4,090 Posts
Could you imagine being a part of that 50,000 pip move? I'd be done for the year. And maybe next. and then another after that.
I dream, therefore I become.
  • Post #7
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  • Nov 25, 2007 7:31pm Nov 25, 2007 7:31pm
  •  Tiki Trader
  • Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
Hmmmmmmm Like the 800 pip spike down today on EUR/USD....

Quoting bluebuddha
Disliked
Yeah, once in a blue moon, Oanda throws a huge spike on the Sunday evening open that catches a lot of traders to stop out or get into a bad position. However, they're pretty good about fixing the problem, and contribute it to their automated requoting system grabbing one of these oddball weekend prices from one particular bank and using it as the best price.
Ignored
  • Post #8
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  • Nov 25, 2007 9:05pm Nov 25, 2007 9:05pm
  •  Syafi
  • | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
So this is where the Spike monster come from, to scare forex newbies .....

Do these price ever came over after the market opens ?

If they do, will any trade that has no specified SL and reduced from its margin has to pay the excess thousand of pips value to the broker ? since the trade will surely slip from the available margin.....
Or can we keep the profits
  • Post #9
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  • Last Post: Nov 26, 2007 5:13pm Nov 26, 2007 5:13pm
  •  GirlFlyer
  • Joined Aug 2006 | Status: Member | 485 Posts
Quoting Syafi
Disliked
So this is where the Spike monster come from, to scare forex newbies .....

Do these price ever came over after the market opens ?

If they do, will any trade that has no specified SL and reduced from its margin has to pay the excess thousand of pips value to the broker ? since the trade will surely slip from the available margin.....
Or can we keep the profits
Ignored
Spikes to that huge degree I have never seen happen and I use Oanda who I think seems to be most susceptible to the problem. Generally they are good about reversing out trades caused by such erroneous blips on the prices. So even if you got a margin call do to such an item, they would probably reinstate any trades effected thereby nulling out any losses (or gains) due to such situations.

As to keeping profits, they usually won't let you do that, but I did have them one time miss one of these blips in my account and I got to keep the profit. Doesn't happen very often because they usually catch it. And yes I know they were looking for them because there were messages from Oanda regarding the blip saying they were correcting accounts due to such.

GF
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