DislikedSNB said this is the bottom and they can buy all the euros they need to buy to keep it above 1.2000
Trading without stops is gambling, not trading.
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Don't just beat the markets, leave bruises.
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DislikedSNB said this is the bottom and they can buy all the euros they need to buy to keep it above 1.2000
Trading without stops is gambling, not trading.
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DislikedAnd what happens when the SNB gets tired of buying? The foreign exchange market is dynamic. It sets itself. Nobody, I repeat, nobody can set a floor or ceiling for any pair. They could mark up prices, but for how long??? The Euros bought to keep it above... is it Notes, Bills or Bonds? It will definitely expire. Any manipulated market will always return to normal. It's just a matter of time. See the EURUSD version of that day...Ignored
DislikedHope you were not trading the EUR/CHF with a leveraged account like that 3 weeks ago. I wonder how many accounts were blown out as she blew past stops with major slippage. Wonder how many traders owe their brokerage money because they couldn't close the positions and margin calls fast enough.
1000 pips 3 hrs. The Swiss National Bank put a floor on this pair at 1.2000.
She ain't coming back anytime soon... mabey never... SNB said this is the bottom and they can buy all the euros they need to buy to keep it above 1.2000
Trading without...Ignored
DislikedAnd what happens when the SNB gets tired of buying? The foreign exchange market is dynamic. It sets itself. Nobody, I repeat, nobody can set a floor or ceiling for any pair. They could mark up prices, but for how long??? The Euros bought to keep it above... is it Notes, Bills or Bonds? It will definitely expire. Any manipulated market will always return to normal. It's just a matter of time. See the EURUSD version of that day...Ignored
DislikedThats a good question. Is the broker who lose or the trader. let say you add put a stop-loss on that pair, but the stop loss was in the gap, what appen to your account? Is this the broker fault or not ?Ignored
DislikedTrader loses, not the broker.
Most SL orders are stop market which means they become market orders as soon as they are hit or passed in the case of a gap. You will not always get your exact price, you get best price they can fill you and you're out.
A stop limit order only fills at the price YOU specify. It can go back and forth through it without ever being triggered.
Don't use stop limit orders for stop loss.Ignored
DislikedWell, good morning to you. And good night to me, it's almost my bed time.Ignored
Dislikedwell i should use the official forex greeting then
Good MAE [ Morning Afternoon Evening ] as the case may beIgnored
DislikedI assume you are asking about that eurchf chart pic I posted. That wasn't a gap. that's a giant green candle and it happened everywhere. SNB drove the price up there and are holding that pair above that level for now.Ignored
DislikedIm my dailychart I have a big green candle too. but in the 1 min and 5 min I have a huge gapIgnored
DislikedIt seems eerily quiet, I wonder if the Bernanke speech has something to do with this. Really exciting times to trade, unfortunately I still suck at it.Ignored