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EUR/CHF

  • #5,081
  • Apr 11, 2012 3:39am Apr 11, 2012 3:39am
Quoting tunera
As i know, the snb offer standing at 1.2000 are at bid price, this mean that once they are in place and enough the bid price should never fall below 1.2000, the ask simply don't matter......
This is not entirely correct:

Brokers can offer a bid of say 1.1990 and ask of 1.2010
Thus, they buy euros from us at 1.1990 and sell to SNB @ 1.20 and make an easy profit. It all comes to their correctedness with clients...

I heard that Ducascopy also executed below 1.20 last Thursday. Why do not all of us share if his/her broker executed below 1.20 on Thursday or not?

I am trading via LMAX and they filled stop loss at 1.19896 even though it was set at 1.19964 in the system... a slippage of over 7 pips
  • #5,082
  • Apr 11, 2012 3:39am Apr 11, 2012 3:39am
Quoting worsttrader
morning sirs. i read all of ur comments since yesterday evening and it seems to me most of u, on both side, getting a little bit angry, nervous, upset.
pls never forget none of us here can influence the moving of eurchf, so being mad about it is totally unnecessary. only thing we can do is waiting patiently.
hanging out
  • #5,083
  • Apr 11, 2012 3:44am Apr 11, 2012 3:44am
Seems my broker (FxPRO) filled orders down to 1.19976 only. That was the low for the day.

Quoting Igrach
This is not entirely correct:

Brokers can offer a bid of say 1.1990 and ask of 1.2010
Thus, they buy euros from us at 1.1990 and sell to SNB @ 1.20 and make an easy profit. It all comes to their correctedness with clients...

I heard that Ducascopy also executed below 1.20 last Thursday. Why do not all of us share if his/her broker executed below 1.20 on Thursday or not?

I am trading via LMAX and they filled stop loss at 1.19896 even though it was set at 1.19964 in the system... a slippage of over 7 pips
  • #5,084
  • Apr 11, 2012 3:47am Apr 11, 2012 3:47am
Quoting Igrach
This is not entirely correct:
we already did it once, but here is my lowest point again:

1.19967
  • #5,085
  • Apr 11, 2012 3:50am Apr 11, 2012 3:50am

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  • #5,086
  • Apr 11, 2012 3:50am Apr 11, 2012 3:50am
Quoting Simon73
There was a lot of source (forexlive/fxstreet etc), that the initial buy position was 10 billion, and this was 9 at the end of day.
Thanks Simon, I'd missed (or forgotten ?!?) the part about 9 billion remaining.
  • #5,087
  • Apr 11, 2012 3:54am Apr 11, 2012 3:54am
Quoting Igrach
This is not entirely correct:

Brokers can offer a bid of say 1.1990 and ask of 1.2010
Thus, they buy euros from us at 1.1990 and sell to SNB @ 1.20 and make an easy profit. It all comes to their correctedness with clients...

I heard that Ducascopy also executed below 1.20 last Thursday. Why do not all of us share if his/her broker executed below 1.20 on Thursday or not?

I am trading via LMAX and they filled stop loss at 1.19896 even though it was set at 1.19964 in the system... a slippage of over 7 pips
Yes a brokeR can show whatever prices it want and make tricks with their clients, but friday the move to 1997 was "real", not a broker trick. Then I hear some broker shown a low of 1990 or 1980.. This is the fx market, love it or hate it
  • #5,088
  • Apr 11, 2012 3:55am Apr 11, 2012 3:55am
Quoting Igrach
This is not entirely correct:

Brokers can offer a bid of say 1.1990 and ask of 1.2010
Thus, they buy euros from us at 1.1990 and sell to SNB @ 1.20 and make an easy profit. It all comes to their correctedness with clients...

I heard that Ducascopy also executed below 1.20 last Thursday. Why do not all of us share if his/her broker executed below 1.20 on Thursday or not?

I am trading via LMAX and they filled stop loss at 1.19896 even though it was set at 1.19964 in the system... a slippage of over 7 pips
That's exactely my reasoning. So, I don't think we need to exchange the lowest price of last week. The most interesting would be to get an official statement of any broker out there who states that its ask price won't fall below 1,20 because of limit agreements with the snb and that the maximum spread is XXXX (or they might have fixed spread accounts). I would definitifely switch the money I would like to invest in eurchf to this broker...And there need to be some I guess...
  • #5,089
  • Apr 11, 2012 3:59am Apr 11, 2012 3:59am
So if someone of you get's a statement kind of similar to the one I mentioned above would be kind of you to share it here. I have done some requests myself...awaiting reply...
  • #5,090
  • Apr 11, 2012 4:00am Apr 11, 2012 4:00am
Quoting slovforex
will there be any news from snb today? when will be the election? today?
yes, i am waiting that news too! if the news is Jordan as new president of SNB, the floor must be broken below 1.2 strongly according to his statement: "SNB cannot exclude euro being offered below CHF 1.2000 in future". Who knows exactly the times of that news: friday or next week?
  • #5,091
  • Apr 11, 2012 4:01am Apr 11, 2012 4:01am
Quoting profitoffx
That's exactely my reasoning. So, I don't think we need to exchange the lowest price of last week. The most interesting would be to get an official statement of any broker out there who states that its ask price won't fall below 1,20 because of limit agreements with the snb and that the maximum spread is XXXX (or they might have fixed spread accounts). I would definitifely switch the money I would like to invest in eurchf to this broker...And there need to be some I guess...
Why not an agreement that your sl will never be hitten, and the broker will spike the prices to tps one or two times everyday, and a welcome bonus of +100%.
I will invest in it surely
  • #5,092
  • Apr 11, 2012 4:02am Apr 11, 2012 4:02am
One more thing: I think this is the most essentiel at the moment - having a reliable broker. I don't know if the peg will be broken or not - but the less risk is involved in this trade the better it is. And in this special situation a reliable broker is even more crucial than in others...

Besides position size and direction to trade - that's the only thing you are able to influence here...
  • #5,093
  • Apr 11, 2012 4:06am Apr 11, 2012 4:06am
Quoting tunera
Why not an agreement that your sl will never be hitten, and the broker will spike the prices to tps one or two times everyday, and a welcome bonus of +100%.
I will invest in it surely
Me too ...No seriously - it's not about being sure not loosing anything. If you take a risk you must be aware that you could lose the money invested. What I am talking about is that risk in this case could be reduced a lot if you ensure that you have a reliable broker (of course you will still lose money when peg will be broken)

So...this is my last post in this thread...it's not helpful to spend a lot of time with speculations - and this is what we are doing here...Nothing is sure in fx...I just wanted to point the discussion towards something we still can influence at this point...
  • #5,094
  • Apr 11, 2012 4:08am Apr 11, 2012 4:08am
Quoting sonmeman
yes, i am waiting that news too! if the news is Jordan as new president of SNB, the floor must be broken below 1.2 strongly according to his statement: "SNB cannot exclude euro being offered below CHF 1.2000 in future". Who knows exactly the times of that news: friday or next week?
uhm...did u read the rest of his speech?
[*]Any doubts on SNB resolve to defend franc cap misplaced[*]SNB has no plans to change monitoring system of EUR/CHF[*]To enforce minimum rate with all means at its disposal[*]Ready to buy foreign exchange in unlimited quantities[*]Poliocy unchanged after franc risises above CHF 1.2000
  • #5,095
  • Apr 11, 2012 4:16am Apr 11, 2012 4:16am
Quoting profitoffx
Me too ...No seriously - it's not about being sure not loosing anything. If you take a risk you must be aware that you could lose the money invested. What I am talking about is that risk in this case could be reduced a lot if you ensure that you have a reliable broker (of course you will still lose money when peg will be broken)

So...this is my last post in this thread...it's not helpful to spend a lot of time with speculations - and this is what we are doing here...Nothing is sure in fx...I just wanted to point the discussion towards something...
I understand your point, I hope to was not offensive, but as you say nothing is sure in fx and if you are willing to make profit you should also accept the risk side of the coin. And again true this forum is becoming not helpful at all, I guess me too I'm going to put it off. Thanks everybody
  • #5,096
  • Apr 11, 2012 4:22am Apr 11, 2012 4:22am
Quoting profitoffx
Me too ...No seriously - it's not about being sure not loosing anything. If you take a risk you must be aware that you could lose the money invested. What I am talking about is that risk in this case could be reduced a lot if you ensure that you have a reliable broker (of course you will still lose money when peg will be broken)

So...this is my last post in this thread...it's not helpful to spend a lot of time with speculations - and this is what we are doing here...Nothing is sure in fx...I just wanted to point the discussion towards something...
I understand your point, I hope to was not offensive, but as you say nothing is sure in fx and if you are willing to make profit you should also accept the risk side of the coin. And again true this forum is becoming not helpful at all, I guess me too I'm going to put it off. Thanks everybody
  • #5,097
  • Apr 11, 2012 5:26am Apr 11, 2012 5:26am
http://www.bloomberg.com/news/2012-0...-persists.html

  • #5,098
  • Apr 11, 2012 5:27am Apr 11, 2012 5:27am
Quoting worsttrader
uhm...did u read the rest of his speech?[*]Any doubts on SNB resolve to defend franc cap misplaced[*]SNB has no plans to change monitoring system of EUR/CHF[*]To enforce minimum rate with all means at its disposal[*]Ready to buy foreign exchange in unlimited quantities[*]Poliocy unchanged after franc risises above CHF 1.2000
yes but this times, his statement includes 2 new things: "the floor can be under 1.20 and he can not control completely market". Before, his statement never have this. So, i think that he does not have the self-confidence, if he doesn't have it, how he can ask everybody to believe in him. May be the next statement includes the new things....
I care now about the date and time of new election in order to run or stay
  • #5,099
  • Apr 11, 2012 5:44am Apr 11, 2012 5:44am
Quoting tunera
Yes a brokeR can show whatever prices it want and make tricks with their clients, but friday the move to 1997 was "real", not a broker trick. Then I hear some broker shown a low of 1990 or 1980.. This is the fx market, love it or hate it
hmm how would you qualify the move to 1997 as 'real' when snb themselves claimed they didn't allow the rate to fall below 1.2?
  • #5,100
  • Apr 11, 2012 5:50am Apr 11, 2012 5:50am
i predict huge volatility and fall on eurchf in the following hour beacuse of the spanish prime minister speech. be careful.
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