EUR/CHF | Page 688 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/CHF

Similar Threads

GBP/CHF and USD/CHF 955 replies

Correlation EUR/USD, USD/CHF, EUR/CHF (Humour me please... Thx) 8 replies

EUR/CHF, USD/CHF turning up? 1 reply

Using usd/chf - eur/usd correlation to see moves in EUR/USD 46 replies

Ranging pairs? EUR/CHF, EUR/GBP, AUD/CAD? 0 replies

Attachments: EUR/CHF
Exit Attachments

EUR/CHF

  • #13,741
  • Jan 15, 2015 8:03am Jan 15, 2015 8:03am
Quoting Svizzera
There's absolutely zero chance of them rasing the peg any time soon. If it were that viable and straightfporward, they would've done it already - why do you think they didn't do anything about 6 months ago? EUR/CHF was rising up towards 1.25, and it would have seemed like the perfect time to raise the peg...but they didn't (and there's obviously a good reason for it). With more pressure than ever on the Swissie now, an increase in the floor is wishful thinking to say the least. The peg cannot go on forever, as they're spending billions defending...
I called it back in 2012. I'm posting here again for the first time in almost 3 years.Hate to say 'I told you so', but...Anyway, hope nobody got badly burned out there and that everybody with Longs had stop losses in place that were filled. It's never nice to see people get decimated.
  • #13,742
  • Jan 15, 2015 8:08am Jan 15, 2015 8:08am
My commiserations to any CHF bears. I was tempted to join the EURCHF bandwagon but I did not for the following reasons:
1. Negative swap
2. Past history - A few years back EURCHF spent 6 months on the floor before bouncing. Also, EURCHF moved 900 pips in 5 minutes at the institution of the floor, which was a surprise announcement also.
3. The unpredictability of the SNB - If anything, the surprise SNB rate cut some days ago prove to me that the SNB are truly an unreliable central bank. As much as the EURCHF bulls rejoiced then, I figured that the SNB were probably going to use the same route if they wanted to remove the floor
4. Majority of FX traders lose money and with the amount of traders on the bandwagon and the tendency of history to often repeat itself, joining the bandwagon was always not an option.

For me, I still would not hold CHF into the European session until we get assurances from the SNB that they would stop surprising markets with unscheduled announcements whenever they please.

Remember, the SNB is not your friend.
  • #13,743
  • Jan 15, 2015 8:23am Jan 15, 2015 8:23am
Quoting zoran22
{quote} at what levels you picked up stops on CME?
That's the pretty amazing part
I guess it has something to do with IB doing some market making here, because I don't explain how it's possible instead:

I had 6 contracts stops at 1.1987 (hidden stop staying on IB's servers) and they were executed 5 at 1.1994 and 1 at 1.1993, VERY, VERY impressive.
Or there was a sudden little spike that gave me this positive slippage ?

Anyway, IB, best broker in the world on this !!!

Your numbers doesn't add up, what broker would you be in the hole 250k with ?
  • #13,744
  • Jan 15, 2015 8:29am Jan 15, 2015 8:29am
Quoting Mevo
{quote} That's the pretty amazing part I guess it has something to do with IB doing some market making here, because I don't explain how it's possible instead: I had 6 contracts stops at 1.1987 (hidden stop staying on IB's servers) and they were executed 5 at 1.1994 and 1 at 1.1993, VERY, VERY impressive. Or there was a sudden little spike that gave me this positive slippage ? Anyway, IB, best broker in the world on this !!! Your numbers doesn't add up, what broker would you be in the hole 250k with ?

saxobank -100k
fxpro- 150k
  • #13,745
  • Jan 15, 2015 8:35am Jan 15, 2015 8:35am
Quoting zoran22
{quote} saxobank -100k fxpro- 150k
Man Im really sorry that is aweful
  • #13,746
  • Edited 8:50am Jan 15, 2015 8:37am | Edited 8:50am
Quoting gameofpips
For me, I still would not hold CHF into the European session until we get assurances from the SNB that they would stop surprising markets with unscheduled announcements whenever they please. Remember, the SNB is not your friend.
SNB has said goodbye to reliability for the next 50 years and cannot assure about anything anymore. Last Monday the VP was still repeating the bullshit about defending 1.20. Let's remember, on a previous occasion the wife of SNB presidend traded the night before the floor was introduced, this time we don't know who had insider information, but be reassured, someone had.
  • #13,747
  • Jan 15, 2015 8:40am Jan 15, 2015 8:40am
Quoting Jeremy Oak
{quote} Man Im really sorry that is aweful

That seems BS to me.
Especially since Saxo had lowered margin on EUR/CHF.

Any proof of that ? If that's true, this 2 brokers are scamming you, and they have unnatural gaps on quotes like Oanda and Pepperstone then.

EDIT: I just checked, FxPro doesn't seem to have suspended trading for more than 1 hour like Oanda or Pepperstone did.
  • #13,748
  • Jan 15, 2015 8:50am Jan 15, 2015 8:50am
Quoting Mevo
{quote} That seems BS to me. Especially since Saxo had lowered margin on EUR/CHF. Any proof of that ? If that's true, this 2 brokers are scamming you, and they have unnatural gaps on quotes like Oanda and Pepperstone then. EDIT: I just checked, FxPro doesn't seem to have suspended trading for more than 1 hour like Oanda or Pepperstone did.
i can not believe that my balance can go to negative, it does have no sense, hey had to close positions before that is margin call for
  • #13,749
  • Jan 15, 2015 8:54am Jan 15, 2015 8:54am
Those commenting here talking nonsense of having stop loss could had protected your accounts,shut up for god sake.

All brokers had no respect to stop losses, many like Oanda and FXCM didn't close orders until an hour after the fall. Some marked accounts in 100s of thousands and millions in negative money!

Stop loss = useless in such 1 minute(actually second) drop of 400-500 pip. I don't any Bull here had that wide stop loss number!

The only hope for those who had stop losses is charging the broker of not respecting it, the broker answer can be that there was not liquidity at that price, take them to the court and pay lawyers....hahaha

You can think of charging them for not respecting margin requirements, even if bulls were fully loaded in margin, trades must be closed when available margin goes to negative, you save some money. Charge them for this especially when I knew from many of negative balance accounts!!
  • #13,750
  • Jan 15, 2015 8:55am Jan 15, 2015 8:55am
Quoting zoran22
{quote} saxobank -100k fxpro- 150k
Are they asking you to pay for that?
  • #13,751
  • Jan 15, 2015 8:56am Jan 15, 2015 8:56am
Christ people, it's called slippage. How do brokers stop an instantaneous 1,000 pip collapse? The facade couldn't last forever. Nevertheless the crazy leverage most people run on here does no help. Means you're vastly under-capitalized.
When the facts change I change my mind, what do you do sir
  • #13,752
  • Jan 15, 2015 8:56am Jan 15, 2015 8:56am
Quoting zoran22
{quote} i can not believe that my balance can go to negative, it does have no sense, hey had to close positions before that is margin call for
Exactly. No free margin = positions closed. Charge them for this.

Don't worry of negative balance, you own them no money- the bastxxxs
  • #13,753
  • Jan 15, 2015 8:58am Jan 15, 2015 8:58am
Quoting mindscream
{quote} Are they asking you to pay for that?
saxobank yes,
fxpro not
  • #13,754
  • Jan 15, 2015 9:00am Jan 15, 2015 9:00am
Quoting zoran22
{quote} saxobank yes, fxpro not
tell them, fxck off
  • #13,755
  • Jan 15, 2015 9:02am Jan 15, 2015 9:02am
Quoting Harris27
Those commenting here talking nonsense of having stop loss could had protected your accounts,shut up for god sake. All brokers had no respect to stop losses, many like Oanda and FXCM didn't close orders until an hour after the fall. Some marked accounts in 100s of thousands and millions in negative money! Stop loss = useless in such 1 minute(actually second) drop of 400-500 pip. I don't any Bull here had that wide stop loss number! The only hope for those who had stop losses is charging the broker of not respecting it, the broker answer can be that...
Actually my stop losses with Oanda at 1.1970 were executed correctly with very little slippage.
The problem is when they TOTALLY SUSPENDED trading for more than 1 hour with ABSOLUTELY NO QUOTES at all anymore.

But legit brokers executed SL with very little slippage (and even Oanda before they suspended trading)
So, SL worked pretty well DEPENDING of the broker you were using !
  • #13,756
  • Jan 15, 2015 9:08am Jan 15, 2015 9:08am
When your broker initiates a margin call they will close your positions using a MARKET order. It is plain to see that most folks don't actually know what that is - come on folks its basic market microstructure... if you don't understand this then you shouldn't have been trading... negative balances are perfectly feasible and right in these conditions. Now whether your broker actually has the experties to reclaim these balances is doubtful - most likely most negative accts are too small (not worth sending in the baliffs) or to big (can't get blood out of a stone) most likely the broker hasn't exposed themselves anyway.. so its not real money (remember your all in the 95% so why hedge against the uninformed?).. the big question is if you were on the right side of the trade are you gonna be able to get your money out? - if I was long CHF I would be phoning my broker to close my acct immediatly and wait/hope to see the money in the bank.. before refunding any funds into a totally new acct...

BBCMicro
  • #13,757
  • Jan 15, 2015 9:10am Jan 15, 2015 9:10am
again EUR/CHF ... somebody got experience to share with us ? .. how u solve this problem ? are u panicking ? talk and cure depresion ! or u will get crazy
Attached Image (click to enlarge)
Click to Enlarge Name: foto_strapo.jpg Size: 176 KB
"I'm not answering stupid questions."
  • #13,758
  • Jan 15, 2015 9:12am Jan 15, 2015 9:12am
BBC Micro: Sure it can happen, but here some brokers SUSPENDED the whole thing for more than 1 hour and only executed trades AFTER all that time .... That's FRAUD pure and simple.
  • #13,759
  • Jan 15, 2015 9:20am Jan 15, 2015 9:20am
Quoting Harris27
{quote} Exactly. No free margin = positions closed. Charge them for this. Don't worry of negative balance, you own them no money- the bastxxxs
I think it quite funny really that even in the most liquid market you seem to have no concept of the buyer/seller need ie to sell something you need a buyer and if there is no buyer then the price heads to a level where there is. Slippage, GAPs, widening of spreads are all there for when there is a disparity. You think brokers had a heads up on this news? You think the SNB phoned the world to tell them? Look at the move, its the single largest move in any market I have ever seens and you will likely have ever seen. Look up Limit Down and Limit Up. You don't see it in Forex because of the liquity but on those occassion if you're stuck in a Limit Down or Up you cannot get out.

Also, don't worry about paying back the money to your broker because they will likely wake tomorrow morning bust, taking with them those people on the right side of the trade anyway. You'd be more pissed at that situation then seeing your account in the negative because you placed too much trust in a Central Bank.

EU Quant Easing here we come.

Before I go, I will post a chart from a trader who just went about trading the EUR/CHF, always cocky because he proved everyone wrong each time the market pulled back that the SNB intervened and he and his followers made money. This person would hold longs, adding on the way down, no Stop Losses. Well here it is, his followers are all like most here: Bust

Attached Image (click to enlarge)
Click to Enlarge Name: EUR-CHF Trader.JPG Size: 77 KB


Still adding new longs to try and save some of their positions. The upside is that the trader was not reckless in his position sizes so they avoided the wipe out, but I guess we will see if the market continues to run south further.

Attached Image (click to enlarge)
Click to Enlarge Name: EUR-CHF Trader2.JPG Size: 109 KB


Blind faith has no place in trading. I expect some backlash from angry people and that is fine. I copped it when I said the peg would fail.......
  • #13,760
  • Jan 15, 2015 9:27am Jan 15, 2015 9:27am
Before accusing brokers that 95% of are market makers, why not put fingers at Swiss NB!!

Swiss NB proved to be pussy cats!! They came out with this scandal decision from panic. If they applied -0.75% rate only, that's 3 times its 1 month ago -0.25% cut, Eurchf was today 1.21 or at worst could had been driving down like past time it went to 1.2097, so we had no positions left, closed in profits up and withdrew profits again.

Swiss NBullXXX could had guaranteed Eurchf on 1.2030 or so before ECB next week decision. Why they were that hurry to remove the cap?!

The biggest scandal and pussy cat action was applying -0.75% and removing cap, both=stupid

The idiots returned the pair to 3 year low price(even worse now), before doing that they didn't know this will happen, even a fooool knew that, had not ask themselves why they intervened in billions when the pair was at this or better price 3 years ago?? To bring it back here. Expecting it to correct itself automatically, bunch of idiots!!

The pussycat Danthine just announced from few days Swiss NB keeping the cap with utmost bullXXXX

Seriously, Swiss NB members from Jordan to the other pussycats must be taken to the court, asked about their scandal action.
17 traders viewing now