No very true i was just trying to say more pressure on the SNB as they spend billions.
I just wonder what tolerance they have set themselves
What limit they will go to.
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They don't spend, reserves is a fortune. Remember that politicians were trying to have a plan for that but Jordan didn't let them. They really know how to control the reserves not to float in their community.
No very true i was just trying to say more pressure on the SNB as they spend billions.
I just wonder what tolerance they have set themselves
What limit they will go to.
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IMO if CHF is too strong SNB just buying EUR and it`s cost them nothing! because today currency is not connected with gold and SNB just creating (printing) CHF from nothing! so SNB can print in UNLIMITED quantities if only somebody wants to buy theirs currency!
The problem is if CHF will go too weak! then if SNB want to stabilize the CHF must buy CHF with EUR, but EUR reserves of SNB are limited!
so I will stay with my longs and wait for sudden move up! And I hope without any breaks in the peg! but it will happen maybe in next two or three years...
Anyone trading at exness? Noticed that there are alot downward spikes below 1.2 frequently....
Will post a chart when I get home.
Lets say I blow my account when one of those spikes occur would I be entitled to get a refund? As those spikes are not seen anywhere else?
Thanks for the help!
MJ
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I'm trading with Exness, I have noticed the downward spikes but I have my stop set for much lower than 1.1990 level so it won't get hit unless the floor breaks, which is highly unlikely.
My exness ecn account doesn't have these spikes downward below the 1.20.
I don't think you would be entitled to a refund, but you could always ask them what would happen.
I'm trading with Exness, I have noticed the downward spikes but I have my stop set for much lower than 1.1990 level so it won't get hit unless the floor breaks, which is highly unlikely.
My exness ecn account doesn't have these spikes downward below the 1.20.
I don't think you would be entitled to a refund, but you could always ask them what would happen.
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Thanks for replying.
BUT if they are off market quotes as no other broker/site has those spikes and no one seems to have no noticed it anywhere else so wouldn't possibly
be a error from exness thus if you loose funds from these spikes a refund should be given?
Next week i will try setting a buy limit around the low of the spikes and see what happens.
BUT if they are off market quotes as no other broker/site has those spikes and no one seems to have no noticed it anywhere else so wouldn't possibly
be a error from exness thus if you loose funds from these spikes a refund should be given?
Next week i will try setting a buy limit around the low of the spikes and see what happens.
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Hi - no need to try buy limit.
I've tried & failed to get my buy limit on.
BUT if they are off market quotes as no other broker/site has those spikes and no one seems to have no noticed it anywhere else so wouldn't possibly
be a error from exness thus if you loose funds from these spikes a refund should be given?
Next week i will try setting a buy limit around the low of the spikes and see what happens.
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No problem. If i were you i would use an ecn account. It doesn't seem to have any price spikes below the 1.2000 level.
Either way, i would place my stops way below that level so they don't get hit.
GoMarkets Pro shows a bid of 1.2003 and offer of 1.20096.
Exness ECN shows a bid of 1.20072 and offer of 1.20096.
Exness Mini shows a bid of 1.20070 and offer of 1.20098.
No problem. If i were you i would use an ecn account. It doesn't seem to have any price spikes below the 1.2000 level.
Either way, i would place my stops way below that level so they don't get hit.
GoMarkets Pro shows a bid of 1.2003 and offer of 1.20096.
Exness ECN shows a bid of 1.20072 and offer of 1.20096.
Exness Mini shows a bid of 1.20070 and offer of 1.20098.
BUT if they are off market quotes as no other broker/site has those spikes and no one seems to have no noticed it anywhere else so wouldn't possibly
be a error from exness thus if you loose funds from these spikes a refund should be given?
Next week i will try setting a buy limit around the low of the spikes and see what happens.
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the spread widened u couldnt buy there i had
same spikes and watched the next day st the same time happen again. Spread artifically widen on fxcm ecn acct to get sl if barrier breaks it will get ur buy limit but dno if u want that
A trader at RBS RBS -0.42% has admitted to making a fat finger trade in the EUR/CHF pair Monday, a spokesperson for the bank told Reuters. The error caused a series of algorithmic trades from other traders to flood the market, sending the pair spiking for a short period of time.
The trades which took place on the EBS foreign exchange platform sent the currency pair to spike to levels just shy of 1.21, the highest levels seen in a long time. The currency pair has been rather stable, following the Swiss National Bank's (SNB) decision to place a floor under the pair at 1.20. The decision was made to curb capital flight from the eurozone into what are perceived as safer Swiss banks, strengthening the franc and curbing Switzerland's export-driven economy.
EBS daily charts showed that the euro surged to 1.20928 francs from around 1.2015 within three minutes on Monday as the algorithmic traders went berserk. The euro soon dropped back down and was at 1.2014 francs later Wednesday and held the 1.20 floor. EBS said that the euro spike against the Swiss franc was valid and that the high print of 1.20928 would stand.
Initial reports had claimed that it was RBS's algorithms that caused the spike. However, those reports were later proven wrong. It turns out that it was a simple fat finger trade that caused the spike and algos reacted to send the pair even higher. The trading error and ensuing algorithmic trades raised further fears of computer trading, following the trading error at Knight Capital Group KCG -5.54% that nearly bankrupted the market maker.
Knight was saved by a consortium of investors who bought up a new offering of convertible bonds with convert prices well below the market, indicating that Knight sold new shares on the cheap to raise cash. At one point during the glitch, Knight held over $7 billion in stocks, new reports show, which was much higher than their average holdings. The news of the algorithm-induced spike and the Knight error has raised further fears over the nature of high frequency and algorithmic trading in the market place.
Like who? I need a tight spread for eurchf, at least 200:1 margin or more, and a high rate of positive swap for long eurchf.
I was looking at Sunbird, Interbank FX, and maybe FXCM. Any ideas?
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I found FXCM for some reason when you are low in equity it sometimes instead of saying not enough money it will accept the trade and deduct the money, I binned them,
Sunbird are ok but again on low equity sometimes they will deduct a certain amount of cash before you get taken, they do not wait for your decision, maybe this is good, but i prefere to watch and close at my disgression
I find AVA best, generally all round best performer, sensable spread rates, sensable swap, lots of markets to choose from, tidy stop loss rates. dont know about interbank.
I think we should have a chat and an asessment on different brokers as they all differ in certain aspects, give your thoughts or experiances and problems you have had, lol
