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Cable Update (GBPUSD)

  • #224,541
  • May 6, 2010 2:17pm May 6, 2010 2:17pm
Quoting free4440273
Wow! look at that dow last hr come-back!!

hammer time lol
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Thank You
  • #224,542
  • May 6, 2010 2:17pm May 6, 2010 2:17pm
Anyone can trade GU on FXCM trading station for CFD accounts?

the ticker is deactivated
  • #224,543
  • May 6, 2010 2:17pm May 6, 2010 2:17pm
The dow dropped 1000 points in all of that, the largest points drop ever. For those on the wrong side of the trade in the last hour, don't feel bad. This was the single biggest and fastest across the board drop in all currencies and indices we have seen in decades.
  • #224,544
  • May 6, 2010 2:18pm May 6, 2010 2:18pm
Quoting wormboy
hammer time lol
Spanner in the works

http://www.faqs.org/photo-dict/photo...945spanner.jpg
  • #224,545
  • May 6, 2010 2:18pm May 6, 2010 2:18pm
Quoting kill56
17000
WOW. you are a very smart guy. LOL
  • #224,546
  • May 6, 2010 2:19pm May 6, 2010 2:19pm
Accenture dropped from 40 dollars to 1 cent in that fall in 2 minutes, this was something big guys. We haven't heard the end of this yet.
  • #224,547
  • May 6, 2010 2:20pm May 6, 2010 2:20pm
that was a huge farttttttttttttttttttttttttttttttttttttttttt the big boys will say
Attached Image
  • #224,548
  • May 6, 2010 2:20pm May 6, 2010 2:20pm
Quoting cloggie
The dow dropped 1000 points in all of that, the largest points drop ever. For those on the wrong side of the trade in the last hour, don't feel bad. This was the single biggest and fastest across the board drop in all currencies and indices we have seen in decades.
Fat-finger f-up?

Written by Jamie Coleman
May 6, 2010 at 19:14 GMT

Traders are searching for clues as to the source of the panic that has consumed the market in the last hour. Some speculate it was a mis-laid order distorting the major averages, tripping off massive index futures sales. Procter and Gable is the focus of the talk, falling from something like $62 to $47 in a flash…that would have thrown all the averages into a tailspin…
We’re recouping some of that lost ground but there will be billions in realized losses from those caught in the crossfire.
EUR/USD is back up to 1.2610, S&Ps are down 42 points or 3.6%…we were down over 8% at the worst.
  • #224,549
  • May 6, 2010 2:22pm May 6, 2010 2:22pm
Quoting Baby-Trader
Anyone can trade GU on FXCM trading station for CFD accounts?

the ticker is deactivated
same here bro, my marketscope is not working as well
Thank You
  • #224,550
  • May 6, 2010 2:23pm May 6, 2010 2:23pm
We rode the coattails of the HFT and Flash traders, they saw a flash order and arbitrage in the indices and caused the further fall, there was just no stopping it once a stock like GE and PnG got flashed as 10% down, with all the news coming in the HFT and Flash traders just started selling with no human interference.
  • #224,551
  • May 6, 2010 2:25pm May 6, 2010 2:25pm
Another day of this tomorrow would be great -- love this volatility!!!!

Down to you sir

http://top-people.starmedia.com/tmp/...20Trichet2.jpg
  • #224,552
  • May 6, 2010 2:27pm May 6, 2010 2:27pm
now fxcm is working, position -33 pips,
mafia
  • #224,553
  • May 6, 2010 2:27pm May 6, 2010 2:27pm
Quoting free4440273
Another day of this tomorrow would be great -- love this volatility!!!!

Down to you sir

http://top-people.starmedia.com/tmp/...20Trichet2.jpg
Looks like a cross between Mr Bean and Grandpa from The Munsters
Back to basics, it has to be for me!
  • #224,554
  • May 6, 2010 2:28pm May 6, 2010 2:28pm
Quoting dag777
now fxcm is working, position -33 pips,
mafia

MT4 will never ever be able to keep up with drops like this, by the time your price gets from the broker to BT and to you, it is so old they may as well have mailed it to you.
  • #224,555
  • May 6, 2010 2:29pm May 6, 2010 2:29pm
Quoting cloggie
This has been bonkers, I kept scaling in so many times that I ended up having over 30 trades live. I use 6 screens and could barely keep track of it all, I noticed the massive gaps forming on my charts and seeing some ridiculous prices on Level II, I just hit the close button and sat back to watch the retraces on all of the screens, Some of my TS's hit 30-50 pip slippage to the good side. You are right some serious crazy shit, can't remember the last time all currencies and indices dropped 300-800 pips at a time.
What!!!That is awesome!!!! I thought when you said to just keep hitting the sell button you meant like maybe 3 or 4 times. I could only hit twice because it told me "not enough money" because I already had two open orders on fibre. How many total pips did you make for cable, and the rest for that matter if you don't mind me asking?

P.S. Proctor and Gamble are now clogging the phones with the SEC.
  • #224,556
  • May 6, 2010 2:32pm May 6, 2010 2:32pm
no more P&G handwash/toiletries
  • #224,557
  • May 6, 2010 2:34pm May 6, 2010 2:34pm
thats what foooooooooook the market up eur-jpy
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  • #224,558
  • May 6, 2010 2:34pm May 6, 2010 2:34pm
Reports are now coming out that it was bot trading, not people. prices were hitting certain levels and shorts were executed in mid to large blocks.When actual humans saw what was happening, some panicked and closed positions. Apple was hit big as well they're saying. Ipad hasn't even hit asian markets yet.
  • #224,559
  • May 6, 2010 2:37pm May 6, 2010 2:37pm
Quoting Ineedpips9
Reports are now coming out that it was bot trading, not people. prices were hitting certain levels and shorts were executed in mid to large blocks.When actual humans saw what was happening, some panicked and closed positions. Apple was hit big as well they're saying. Ipad hasn't even hit asian markets yet.

Look at my explanation earlier, Flash traders get the orders before the markets get them, they see a drop in a key stock like GE and PnG and they just start selling them off as fast as they can, there are no people involved, Flash traders only get to see the book about 1/2 second before the rest and need to make up their mind rather quickly, once the flash traders start selling the HFT's jump on the bandwagon because they see the discrepancies between orders filled and prices asked and you have a never ending cycle until someone somewhere says, hello this is not quite right lets hit the reset button.

This is a very simplistic description of a rather complicated means of trading.
  • #224,560
  • May 6, 2010 2:37pm May 6, 2010 2:37pm
Oh man, tomorrow is gonna be great. Sleep? forget sleep!!
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