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EUR/CHF

  • #13,661
  • Jan 15, 2015 3:39am Jan 15, 2015 3:39am
woops i didnt see the news on the Calendar !
  • #13,662
  • Jan 15, 2015 3:40am Jan 15, 2015 3:40am
And spectacular it was!
I expected it to break with a bang, but i didnt expect it to be so strong. i was thinking about some 500-600 pips on peg break day, but this is 1200+ in a minute. Incredible


Quoting Orion602
If EURUSD continues falling, I can't imagine EURCHF 1.20 will hold for much longer. and 1.20 break will be spectacular (not just eurchf, there would be shockwaves across the markets, stocks crashing, perhaps further lows on oil, emerging markets flushing down the toilet etc. ) maybe they will avoid it this time again, but it seems to be getting harder and harder now. Brace for impact. I'll keep taking more euroswissy shorts even if it goes to 1.30 before. I feel it just got to go down.
Quoting Orion602
you guys are obviously long i wish you good luck then imo if euro keeps falling like this, any SNB intervention is futile or waste of money and destined to fail. There was no situation like this in 2011 on eurusd when they intervened and made 1.20 floor. Maybe euro can find some temporary support here and shoot up, but i think its too fragile to hold for a long time. time will tell, lets wait and see
  • #13,663
  • Jan 15, 2015 3:43am Jan 15, 2015 3:43am
Holy crap,this was on big ice shower.
  • #13,664
  • Jan 15, 2015 3:44am Jan 15, 2015 3:44am
Hope you guys had pre-set stop

Weekly

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  • #13,665
  • Jan 15, 2015 3:48am Jan 15, 2015 3:48am
lol, the hell Im seeing on USDCHF ??!!!!
  • #13,666
  • Jan 15, 2015 3:50am Jan 15, 2015 3:50am
Hmm. That's a big pity. Cost me almost 10% of my net worth.

I'm still up on my forex transactions taken as a whole (over five years or so), but this hurt and I will be going quiet for a long while again now.

(Thought I should pop back in here to own up at least. Have fun.)
  • #13,667
  • Jan 15, 2015 3:52am Jan 15, 2015 3:52am
Never fight the trend

Never pick tops or bottoms
  • #13,668
  • Jan 15, 2015 3:52am Jan 15, 2015 3:52am
Quoting Ken A
Hope you guys had pre-set stop
I didn't have stops, only more short orrders above I don't envy the people who stayed long, but there were some people voicing 1.20 peg-failing bias on this thread including me. It was actualy just couple of days ago.

I guess lots of account wiped out today, sad day for many. I dont think stops were honored, maybe some brokers, but mostly there was no price, it was more like illiquid gap. no volume on particular prices to trade, no stops could be closed at that price.
  • #13,669
  • Jan 15, 2015 3:53am Jan 15, 2015 3:53am
lol, GBPCHF is the best

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  • #13,670
  • Jan 15, 2015 3:53am Jan 15, 2015 3:53am
All USDCHF profits erased in few seconds

Quoting Orion602
{quote} I didn't have stops, only more short orrders above I don't envy the people who stayed long, but there were some people voicing 1.20 peg-failing bias on this thread including me. It was actualy just couple of days ago. I guess lots of account wiped out today, sad day for many. I dont think stops were honored, maybe some brokers, but mostly there was no price, it was more like illiquid gap. no volume on particular prices to trade, no stops could be closed at that price.
Stops will be honored but the spreads registered on my feed was over 100 pips between bid and ask price
  • #13,671
  • Jan 15, 2015 3:57am Jan 15, 2015 3:57am
I was shorting USDCHF, but didnt expect such a move. If only I didnt use the take profit orders -_-!
  • #13,672
  • Jan 15, 2015 4:04am Jan 15, 2015 4:04am
Just curious, does anyone have their stops not honered by their brokers?
  • #13,673
  • Jan 15, 2015 4:06am Jan 15, 2015 4:06am
WOW, this thread went full and mad one time!!

Black point in Swiss NB History. Believe me or not, from few hours had dream about this happening. Not an easy blow but Glad to had withdraw profits from the good days like of 1.2097 to lessen the disaster of bad days like today!

The worst that any CB in the world had ever done was by Swiss NB. Instead of locking the pair and intervening slowly to keep it on 1.2008-1.2010, why didn't it intervene many times for several days after every spike up and its down covering, we could had at least been warned in someway or concluded this ending!!

Eurchf on parity now, I hope it crashes more for the Swiss NBullxxx loose more on its stupid decision. They want to free its trading from 1.20 instead from 1.30 then eat the ShxT. Lets see how can Swiss NBullxxx bring it back to even 1.20!
  • #13,674
  • Jan 15, 2015 4:07am Jan 15, 2015 4:07am
Looking out to the future guys, the de-coupling of Euro and Swiss Franc mean we now have the franc back as an independantly tradable entity. Great news since it was one of the better cleaner tradable instruments for years and the source of many a profitable trade. When it became little more than a proxy/hedge for the euro it completely lost its allure. Now we get it back to play with!!!!!!!!!!
  • #13,675
  • Jan 15, 2015 4:08am Jan 15, 2015 4:08am
I quit trading eurchf pair late last year and was tempted to take a huge long abt 2weeks ago from 1.2007.Im so glad I didnt cos I can almost guaranty you I would be dead by now, theres no way my account would have absorbed abt 4000 pips drop, not even a stoploss would have helped. My heart goes out to all eurchf bulls who had faith in snb 1.2000 floor. Congrats to all bears who had theballs to hold on to their shorts, I really do envy you right now. My biggest congrats goes to me, I just dodged a bullet.
  • #13,676
  • Jan 15, 2015 4:12am Jan 15, 2015 4:12am
Non expected this dramatic ending but at least I was sure that stop losses were useless if 1.20 1.19 1.17 or 1.15, so we knew the consequences that it was a stop out or spike green game.

Anyways, Black Point in Swiss NB history.
  • #13,677
  • Jan 15, 2015 4:12am Jan 15, 2015 4:12am
Quoting Harris27
s The worst that any CB in the world had ever done was by Swiss NB. Instead of locking the pair and intervening slowly to keep it on 1.2008-1.2010, why didn't it intervene many times for several days after every spike up and its down covering, we could had at least been warned in someway or concluded this ending!!
Right!
  • #13,678
  • Jan 15, 2015 4:13am Jan 15, 2015 4:13am
Actually, this is reminiscent of the Pound coming out of the ERM in 1992. I suspect the mechanisms of speculative pressure might well have been very similar although the pound was seriously over priced. The franc is the opposite.
  • #13,679
  • Jan 15, 2015 4:15am Jan 15, 2015 4:15am
Something tells me lots of people will be fired today....

To Keikor:
My stop losses worked fine, not at the precise level but a few pips down. It was a fast ride! my Broker is Dukascopy.

Hope no one from this thread lost whole account!

All the best

K.
  • #13,680
  • Jan 15, 2015 4:16am Jan 15, 2015 4:16am
All this from SNB" we will take any measure to secure the floor",and so they backstabbed us.The only fortunate for me,is i didnt put on new trades the last days.I was planning investing 2k on the pair on another broker.So happy ididnt.
I had one huge loss,and its bitter to think i didnt close it over a year ago.Opened at 1.24+

Well,onward we go.
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