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The Really Useless Thread

  • #8,601
  • Sep 6, 2011 4:00am Sep 6, 2011 4:00am
Quoting cloggie
Decision time for the EU and the SNB..... how much money will the SNB waste trying to defend 1.20, no CB in history has ever beaten the markets......

Playing long scalps of 62 as planned here, let's see how many algos are still in the game.
  • #8,602
  • Sep 6, 2011 4:01am Sep 6, 2011 4:01am
Quoting PayTheLimit
triple lutz on the 12month'er...
Fak me! Now THAT's impressive!
  • #8,603
  • Sep 6, 2011 4:01am Sep 6, 2011 4:01am
Quoting sisse
In any case, impressive move of the SNB. This has massive policy implications and is actually a HUGE move to PEG the CHF with the euro. I am very surprise but I guess the storm is coming is HUGE and the SNB know it.

They stopped short of pegging, they "just" set a target for now.

http://www.snb.ch/en/mmr/reference/p...0110906.en.pdf
  • #8,604
  • Sep 6, 2011 4:02am Sep 6, 2011 4:02am
Quoting egkid
i USE 2 BROKERS
e/u
THE HIGH 4255 @ one broker and other 4280
what the high @ u guys?
4280, but there was massive lag, between my order entry quotes and my third party chart data, which is alpari, so alpari was the laggard...
  • #8,605
  • Sep 6, 2011 4:03am Sep 6, 2011 4:03am
The Swiss National Bank's EUR/CHF floor may be successful, if the 1978 experience of pegging the franc to the Deutsche mark is anything to go by, UBS says. "The SNB should be successful in defending this level. However, the risks for this strategy are great and the SNB will need to carefully calibrate its money-market operations, not only to maintain its current stance penalizing CHF holdings via negative implied and outright yields, but also to prevent inflationary pressures from accumulating."


I never knew they pegged the franc to the DM, then again, I was not even born yet in 1978.
  • #8,606
  • Sep 6, 2011 4:03am Sep 6, 2011 4:03am
Quoting kenfen69
Indeed. That'll do it...two seconds that changed their world.
a trader's number one priority is capital preservation..
  • #8,607
  • Sep 6, 2011 4:05am Sep 6, 2011 4:05am
Quoting egkid
i USE 2 BROKERS
e/u
THE HIGH 4255 @ one broker and other 4280
what the high @ u guys?
I have 1.4272..

It seems its time to Buy everything!!
Markets are not Random, they are designed!
  • #8,608
  • Sep 6, 2011 4:06am Sep 6, 2011 4:06am
Quoting Monroe
then again, I was not even born yet in 1978.
bastard...
Look Sharp/Trade Tight
  • #8,609
  • Sep 6, 2011 4:08am Sep 6, 2011 4:08am
Quoting attila
Shit. Now we're fucked for good.
...flat now all targets done without time to think about the next move ...gotta love when you are in the right side of the externality without expecting it....lol

I hope you enjoyed the ride and well done to most here that were in the right side with London open.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #8,610
  • Sep 6, 2011 4:08am Sep 6, 2011 4:08am
Quoting PayTheLimit
bastard...
lol 5 years later...
  • #8,611
  • Sep 6, 2011 4:08am Sep 6, 2011 4:08am
Quoting Monroe

I never knew they pegged the franc to the DM, then again, I was not even born yet in 1978.

They didn't, again, they just set a target. The only time the Franc was properly pegged was Bretton Woods.

The big problem with this 1.20 target is that the rate fluctuations will carry through as inflation and the SNB may come under fire internally. A target will help export, but will hurt domestic spending and inflation.
  • #8,612
  • Sep 6, 2011 4:11am Sep 6, 2011 4:11am
Quoting Raza
I have 1.4272..

It seems its time to Buy everything!!
spike
Attached Image (click to enlarge)
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Markets are not Random, they are designed!
  • #8,613
  • Sep 6, 2011 4:11am Sep 6, 2011 4:11am
Quoting Monroe
lol 5 years later...
correction, rat bastard...
Look Sharp/Trade Tight
  • #8,614
  • Sep 6, 2011 4:11am Sep 6, 2011 4:11am
I am out of here ) good luck, trade safe ) it's 5 am I need some sleep
  • #8,615
  • Sep 6, 2011 4:12am Sep 6, 2011 4:12am
enjoy your rest...
Look Sharp/Trade Tight
  • #8,616
  • Sep 6, 2011 4:13am Sep 6, 2011 4:13am
Quoting cloggie
Playing long scalps of 62 as planned here, let's see how many algos are still in the game.

Up 30, may build on it.
  • #8,617
  • Sep 6, 2011 4:13am Sep 6, 2011 4:13am
Quoting sofia101
I am out of here ) good luck, trade safe ) it's 5 am I need some sleep
nighty nite, sleep tight..
  • #8,618
  • Sep 6, 2011 4:13am Sep 6, 2011 4:13am
Quoting cloggie
They didn't, again, they just set a target. The only time the Franc was properly pegged was Bretton Woods.
Oh, well then DJ is a piece of shit... thanks for the clarification. I thought you were saying just now they didn't actually "peg" it yet, just set a target
  • #8,619
  • Sep 6, 2011 4:15am Sep 6, 2011 4:15am
Quoting Monroe
Oh, well then DJ is a piece of shit... thanks for the clarification. I thought you were saying just now they didn't actually "peg" it yet, just set a floor.

A mechanical peg means giving up independence to the pegged currency, not something that the SNB will do easily. The mass media misuses the term pegging in all their outlets, for 1.20 to hold as a target the SNB will have to spend countless billions. They are fighting the market here trying to keep that 1.20.
  • #8,620
  • Sep 6, 2011 4:15am Sep 6, 2011 4:15am
lol, nice...
Look Sharp/Trade Tight
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