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  • #238,161
  • May 6, 2010 4:40pm May 6, 2010 4:40pm
Quoting suthmo
Price at 38.2 retrace of today's down move.
+44 now could be goin to .2312 by extension.
Founder of Sutherland Wave Principle
  • #238,162
  • May 6, 2010 4:41pm May 6, 2010 4:41pm
Quoting ido370
you expect euro to go lower in asian sessions ? or yen higher/lower?
dont know.. it may drop 200 before asia opens.. eu lower and yen crosses lower. just sell tops till it dont work.
those who can, do. those who cant, talk about those who can
  • #238,163
  • May 6, 2010 4:44pm May 6, 2010 4:44pm
Scalping opportunity seems to be drying up...
  • #238,164
  • May 6, 2010 4:44pm May 6, 2010 4:44pm
Quoting markonis
oh man just came back and see a fuckin chaos? what happened in here?

My short order got triggered, gave me 80 pips, could give almost 200 but didn't think it will go lower then 2600 today. WTF happened in here?

Who's fault is it? any news on that?

On the news they said, a man triggered a wrong order about 16 billion short on whatever and all of the sudden : PANIC....

I donīt wanna be in this guys shoes....Hell broke loose....
  • #238,165
  • May 6, 2010 4:45pm May 6, 2010 4:45pm
Quoting gatorinla
what?.... there is no bottom during capitulation
I'm already in at .2648 =D
  • #238,166
  • May 6, 2010 4:45pm May 6, 2010 4:45pm
Best advise..

Quoting gatorinla
dont know.. it may drop 200 before asia opens.. eu lower and yen crosses lower. just sell tops till it dont work.
In Charts We Trust!
  • #238,167
  • May 6, 2010 5:02pm May 6, 2010 5:02pm
Unbelievable chaos today...especially EUR/JPY's 1000 pip drop. What a volatile day...and we still have NFP to look forward to tomorrow.

Anyway, short @2645, and pending short ready @2695. Target mid-2300s.
  • #238,168
  • Edited 5:38pm May 6, 2010 5:17pm | Edited 5:38pm
Quoting 4rexLady_de
On the news they said, a man triggered a wrong order about 16 billion short on whatever and all of the sudden : PANIC....

I donīt wanna be in this guys shoes....Hell broke loose....
The market will retrace that whole spike.

I've seen this a couple of times before. Can't post a chart currently, but look on the dow chart on these dates. 7/14/2009 and 12/4/2009 Not as drastic, but still big never the less.
All that is left in FF is just plain garbage. "Cloggie"
  • #238,169
  • May 6, 2010 5:20pm May 6, 2010 5:20pm
I think you are right....I have too. Usually if its a false value due to mass panic like today, price retraces back to the intrinsic value of the currency...

So those that missed out, will have a second opportunity...


Quoting tonyo524
The market will retrace that whole spike.

I've seen this a few times before. Can't post a chart currently, but look on the dow chart on these dates. 7/14/2009 and 14/4/2009 Not as drastic, but still big never the less.
In Charts We Trust!
  • #238,170
  • May 6, 2010 5:27pm May 6, 2010 5:27pm
Quoting tonyo524
The market will retrace that whole spike.

I've seen this a couple of times before. Can't post a chart currently, but look on the dow chart on these dates. 7/14/2009 and 14/4/2009 Not as drastic, but still big never the less.
I think there was a huge amount of damage done. The level of fear even though it sounds like it was caused by a fat finger will take some time to recover from. The DOW printed below 10k for a minute. The EU needs to figure its stuff out before the bulls come out from their hiding. IMO.
  • #238,171
  • May 6, 2010 5:32pm May 6, 2010 5:32pm
Quoting Protogenos
F*#A$&#*(ing IB....could close out my G/J right now for huge profit but no trading
You can't call your broker to close your position?
  • #238,172
  • May 6, 2010 5:55pm May 6, 2010 5:55pm
NASDAQ cancelling trades between 2.4-3pm that were 60% above below market
Prices oscillate, trends persist. Trend is your friend.
  • #238,173
  • May 6, 2010 5:57pm May 6, 2010 5:57pm
I agree with you, but remember when the EUR was on top and everyone doomsdayed the U.S. and thought it was going to go under overnight and China would take over? Then in a couple weeks, things turned and the USDCHF took off like a freaggin ROCKET....and everyone forgot about the previous weeks chaos....

Same thing here I think...


Quoting homestudy
I think there was a huge amount of damage done. The level of fear even though it sounds like it was caused by a fat finger will take some time to recover from. The DOW printed below 10k for a minute. The EU needs to figure its stuff out before the bulls come out from their hiding. IMO.
In Charts We Trust!
  • #238,174
  • May 6, 2010 6:04pm May 6, 2010 6:04pm
Hello everyone,
I lost 200 pips in a matter of 10 minutes after I entered the market at 14:30. I hope I can get it back from my Broker.
Do you guys suggest a way to ask the Broker to reverse the trade or maybe NFA will act or we have to force it to do.
Thanks
  • #238,175
  • May 6, 2010 6:04pm May 6, 2010 6:04pm
Quoting jsspmk
NASDAQ cancelling trades between 2.4-3pm that were 60% above below market
This doesn't affect the FX market, does it? Even though the whole dominoes effect.
  • #238,176
  • May 6, 2010 6:05pm May 6, 2010 6:05pm
Quoting TradeToWin
Hello everyone,
I lost 200 pips in a matter of 10 minutes after I entered the market at 14:30. I hope I can get it back from my Broker.
Do you guys suggest a way to ask the Broker to reverse the trade or maybe NFA will act or we have to force it to do.
Thanks
Find out and keep us posted!
  • #238,177
  • Edited 6:22pm May 6, 2010 6:10pm | Edited 6:22pm
Forex still just a Casino.. Trend my A$$...

I place 2 low buy orders on Cable while drink some wine (Yeah Greek, Italian, French, Australian wine) ,

both get hit and it happens to be

just before election pool results.. Comeback and take profits..

I mean what charts? what indies and what f* trend you are talking about

here? 0 logic what so ever, all random..

It's a sport betting.. You bet on the team and you either win or

lose.. Unfortunately in FX you'll probably lose 90% of a time if you

use some 30-50 pips Stop loss (unless it's not 500 pips like my bud use )

Or not averaging and hedging (that's the only way to go)

I set about 10 other bets for tonight (Avoiding JPY pairs).. Yes.. Bets.. And no Stop loss..

I hope anything gets hit and I'll go from there.

Hedging is a King option, that's why it's illegal in US, too many winners *L*

Waiting for those Japanese, Chinese, whoever to take action and sell everything, except Coca-Cola

And Harley-Davidson..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #238,178
  • May 6, 2010 6:10pm May 6, 2010 6:10pm
If you call your broker and inform them, they'll give you a bullshit story about well, if you had an emergency, we have a 24hour order desk that will place any order requests for you.

They'll use that as a bullshit excuse not to help refund your $$$. I think they'll only do it if you have a significant presence with the company.

But if you call and act diplomatic about it, they may help you out...
Otherwise tell them you're part of a large FX user group or IB group that will get the word out of the incident. See if they move then.

Quoting TradeToWin
Hello everyone,
I lost 200 pips in a matter of 10 minutes after I entered the market at 14:30. I hope I can get it back from my Broker.
Do you guys suggest a way to ask the Broker to reverse the trade or maybe NFA will act or we have to force it to do.
Thanks
In Charts We Trust!
  • #238,179
  • May 6, 2010 6:14pm May 6, 2010 6:14pm
Quoting TradeToWin
Hello everyone,
I lost 200 pips in a matter of 10 minutes after I entered the market at 14:30. I hope I can get it back from my Broker.
Do you guys suggest a way to ask the Broker to reverse the trade or maybe NFA will act or we have to force it to do.
Thanks
The answer is no. You probably will not be able to. Even if it was caused by a problem on the broker's side such as connection failure. You lost the money due to your own non-diligence.

Learn more about this business before putting more money into it. In the first place, you shoudln't have allowed yourself to trade without a stoploss. If you have problems imagining a 200 pip loss you are either
1)overleveraged - which means you probably lost a shit load of cash. more than you can handle in 1 trade.
2)You are not prepared for the markets.
  • #238,180
  • May 6, 2010 6:17pm May 6, 2010 6:17pm
Quoting TradeToWin
Hello everyone,
I lost 200 pips in a matter of 10 minutes after I entered the market at 14:30. I hope I can get it back from my Broker.
Do you guys suggest a way to ask the Broker to reverse the trade or maybe NFA will act or we have to force it to do.
Thanks
Why do you think they would give it back to you?

You placed a trade and lost...why would you get your money back?
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