Funny / Scary forex Quotes ..on market closed. | Forex Factory

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Funny / Scary forex Quotes ..on market closed.

  • #1
  • First Post: Edited Nov 25, 2007 5:42pm Nov 24, 2007 8:20pm | Edited Nov 25, 2007 5:42pm
See image.... 3000 pips jump on USD/JPY


Few second later GBP/JPY follow suit by 1900 pips.......
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  • #2
  • Nov 24, 2007 10:42pm Nov 24, 2007 10:42pm
This must be the craziest ever...........Over 52 000 pips UP.........
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  • #3
  • Nov 24, 2007 11:24pm Nov 24, 2007 11:24pm
Quoting Syafi
This must be the craziest ever...........Over 52 000 pips UP.........
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)
  • #4
  • Nov 25, 2007 2:56am Nov 25, 2007 2:56am
Quoting Fumafuma
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.

Wont it mean you get 50000 Yen more for each dollar if you withdraw it then
  • #5
  • Nov 25, 2007 10:27am Nov 25, 2007 10:27am
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.
  • #6
  • Nov 25, 2007 11:44am Nov 25, 2007 11:44am
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.
  • #7
  • Nov 25, 2007 4:31pm Nov 25, 2007 4:31pm
Hmmmmmmm Like the 800 pip spike down today on EUR/USD....

Quoting bluebuddha
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.
  • #8
  • Nov 25, 2007 6:05pm Nov 25, 2007 6:05pm
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
  • #9
  • Last Post: Nov 26, 2007 2:13pm Nov 26, 2007 2:13pm
Quoting Syafi
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
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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