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EUR/CHF

  • #13,761
  • Jan 15, 2015 9:30am Jan 15, 2015 9:30am
Quoting Mevo
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.
FXCM closed orders in negative balance after an hour!
  • #13,762
  • Jan 15, 2015 9:40am Jan 15, 2015 9:40am
I was here 2 yrs ago when 1,20 was in place.
Lost everything due to over-leveraging of course like most of everyone else.
Now I'm signing off. This is my last post.
Farewell my friends.......

I will be back only if SNB regrets their decision when too strong CHF causes bad deflation & damages their economy and SNB has no choice but to repeg EC again.
Who knows this unpredictable bank.
  • #13,763
  • Jan 15, 2015 9:41am Jan 15, 2015 9:41am
Quoting Harris27
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...
Let me ask you this. IF it went the other way and ran up to 1.61 instead of .85, do you think your Broker would pay everyone the millions of dollars they would have made? Especially if they take the other side of the position...... Please wake up, you're embarrassing yourself.

Your blaming the Swiss National Bank for your overleveraged and reckless beliefs that the market was going to hold that level. If the ECB does QE next week that peg was ALWAYS going to fail. So, how about you think about the Swiss nationals instead of yourself. You, if you were long, were reckless and ignored ALL the technical signals. You would THINK that after seeing the IMMEDIATE pullback after the last INTERVENTION that the bulls had already retreated.

EIther way, no one was getting paid out of this move, not from your Retail corner street market making broker that's for sure. However, if your in now, you might be lucky enough provided your broker hasn't closed shop, either from going bust or from heading to the Caribbean with those long retail positions.
  • #13,764
  • Jan 15, 2015 9:47am Jan 15, 2015 9:47am
Sharing my experience with FXCM:

I trade a basket, 30 pairs, no stop losses. The basket index was showing downward signs over the last few days so I weighted most of my positions to the short side. Aside from the handful of little losses and gains, I was long the NZD/CHF and took a 1,200 point loss (give or take). I made out on everything else Swiss-related like a bandit which more than offset the loss. I didn't predict anything or "see it coming" - my index was pointing down so I basically shorted 80% of the pairs I trade. When I first got to my terminal, I was shocked. Surprisingly, I was able to liquidate my entire book with little trouble. Maybe five or so minutes of "off quotes" messages, probably cost me a few points across the board but all-in-all, a good experience. I still honestly believe, for most of us at least, today wasn't "skilled vs unskilled" - I think today was "good luck vs bad luck". I'm sorry for you guys who got margin called but an event like this is freak. Some may have been able to say "it's going to happen" but you never really know when. To be honest, if you can't handle unexpected events and the absence of liquidity that comes with it, to quote PipAnon: "You're vastly under-capitalized".
  • #13,765
  • Jan 15, 2015 9:48am Jan 15, 2015 9:48am
Quoting Razor_trader
{quote} Let me ask you this. IF it went the other way and ran up to 1.61 instead of .85, do you think your Broker would pay everyone the millions of dollars they would have made? Especially if they take the other side of the position...... Please wake up, you're embarrassing yourself. Your blaming the Swiss National Bank for your overleveraged and reckless beliefs that the market was going to hold that level. If the ECB does QE next week that peg was ALWAYS going to fail. So, how about you think about the Swiss nationals instead of yourself. You,...


that means YOUR BROker also every broker was in it
  • #13,766
  • Jan 15, 2015 9:49am Jan 15, 2015 9:49am
Quoting Razor_trader
{quote} Let me ask you this. IF it went the other way and ran up to 1.61 instead of .85, do you think your Broker would pay everyone the millions of dollars they would have made? Especially if they take the other side of the position...... Please wake up, you're embarrassing yourself. Your blaming the Swiss National Bank for your overleveraged and reckless beliefs that the market was going to hold that level. If the ECB does QE next week that peg was ALWAYS going to fail. So, how about you think about the Swiss nationals instead of yourself. You,...
We conclude you are defending the Swiss NBullXXXX?? What reckless beliefs are you talking about? How many times they assured cap staying, last was few days ago. What overleverage are you talking about? What account could had resisted 500 pip fall in 1 minute and over -1500 pips in 5 minutes???

What technicals are you talking about? Eurchf was supposed to kiss 1.2080 smoothly.

The reckless is in Swiss NBullXXXX removing the cap when they could had applied -0.75% alone, waiting for ECB next week or at worst do nothing, this stupid decision came from nowhere but PANIC of Swiss pussycats.
  • #13,767
  • Jan 15, 2015 9:58am Jan 15, 2015 9:58am
I feel sorry for other bulls who lost thousands or millions of $$$, maybe they didn't withdrew their profits from this pair like I had done after the 1.2097 spike.
I can afford to loose today's eurchf loss but others can not.

Swiss NB action today will stay for history to remind how reckless, cheaters they were by its scandal action.
Any bank can do whatever it wants but don't promise, actually keep on promising things to suddenly do the opposite!!

This was a disgrace from Swiss NB. One of its pussycats must come out and clarify!!
  • #13,768
  • Jan 15, 2015 10:04am Jan 15, 2015 10:04am
Quoting Harris27
{quote} We conclude you are defending the Swiss NBullXXXX?? What reckless beliefs are you talking about? How many times they assured cap staying, last was few days ago. What overleverage are you talking about? What account could had resisted 500 pip fall in 1 minute and over -1500 pips in 5 minutes??? What technicals are you talking about? Eurchf was supposed to kiss 1.2080 smoothly. The reckless is in Swiss NBullXXXX removing the cap when they could had applied -0.75% alone, waiting for ECB next week or at worst do nothing, this stupid decision...
Wow, are you 12 years of age.... What kind of mature person, of sound mind and body could come up with such utter nonsense. You THINK the SNB cares about your little account? Do you think the SNB is thinking, 'Gee that last round of intervention did nothing, we better try harder next time'.

SO let me get this straight. The SNB is pilfering the money of well off people through negative interest rates IE YOU PAY THE BANK FOR THEM TO HOLD YOUR DEPOSITS....... and you are complaining because your insignificant belief that the SNB must honour its promise FOREVER. If has for the past 3 years.

I don't take sides, I look at the entire picture which obviously you don't. So let me paint it for you

Attached Image (click to enlarge)
Click to Enlarge Name: Chart for ignorant people.JPG Size: 140 KB


You see that LONG downward trendline... That indicates a BEARISH market. Oh its the weekly EUR/CHF, yet all that intervention promise, all the promises that we will be RICH RICH RICH beyond belief because the SNB will just print money and make it so forever.

In ANY other market, if you had a Trendline like that, would you be stacking long positions WITH STOP LOSSES just under a number. Please.... Move on, obviously trading is not your Forte.
  • #13,769
  • Jan 15, 2015 10:06am Jan 15, 2015 10:06am
Shit... it is... book the loss and continue... Shit Swisterland. Shit shit shit!!!! Suckers ala Zurich... Idiot Jordan, idiot!!!
  • #13,770
  • Jan 15, 2015 10:06am Jan 15, 2015 10:06am
Quoting Razor_trader
{quote} In ANY other market, if you had a Trendline like that, would you be stacking long positions WITH STOP LOSSES just under a number. Please.... Move on, obviously trading is not your Forte.
That's an extremely valid point, lol.
  • #13,771
  • Jan 15, 2015 10:11am Jan 15, 2015 10:11am
Quoting Bilstein
Sharing my experience with FXCM: I trade a basket, 30 pairs, no stop losses. The basket index was showing downward signs over the last few days so I weighted most of my positions to the short side. Aside from the handful of little losses and gains, I was long the NZD/CHF and took a 1,200 point loss (give or take). I made out on everything else Swiss-related like a bandit which more than offset the loss. I didn't predict anything or "see it coming" - my index was pointing down so I basically shorted 80% of the pairs I trade. When I first got to my...
One of the smartest posts I have read today. Well done. Long term if QE comes in next week then I expect more gains on the CHF over the Euro. That being said, the entire market at the moment is more or less in Chaos. Similar but opposites ends of the spectrum to the Russians throwing snap interest rate hikes in recently to stop the Ruble from collapsing further.

Best of luck going forward.
  • #13,772
  • Jan 15, 2015 10:13am Jan 15, 2015 10:13am
We have to use stop loss 170 or 200 pip is ok
but never ever leave ur position without STOP
wish all could understand
  • #13,773
  • Jan 15, 2015 10:16am Jan 15, 2015 10:16am
Quoting Razor_trader
{quote} One of the smartest posts I have read today. Well done. Long term if QE comes in next week then I expect more gains on the CHF over the Euro. That being said, the entire market at the moment is more or less in Chaos. Similar but opposites ends of the spectrum to the Russians throwing snap interest rate hikes in recently to stop the Ruble from collapsing further. Best of luck going forward.
Yeah, man. I closed my book and I'm out till next week. In my eyes, the market needs time to shake this thing off. Believe me though, I completely understandthat I could have experienced the opposite results today. It's just a matter of not over-leveraging one's self. Ever the objective realist that I am, I figured some hypothetical results had I been on the losing side: 6-7% of my total account value. Would have sucked hard, but wouldn't have killed me by any means.
  • #13,774
  • Jan 15, 2015 10:17am Jan 15, 2015 10:17am
Quoting Razor_trader
{quote} Wow, are you 12 years of age.... What kind of mature person, of sound mind and body could come up with such utter nonsense. You THINK the SNB cares about your little account? Do you think the SNB is thinking, 'Gee that last round of intervention did nothing, we better try harder next time'. SO let me get this straight. The SNB is pilfering the money of well off people through negative interest rates IE YOU PAY THE BANK FOR THEM TO HOLD YOUR DEPOSITS....... and you are complaining because your insignificant belief that the SNB must honour...
People here do not need your nonsense comments. People here had been trading this pair for long and commenting continuously on this thread, not to have stupid comments like yours filling this thread, showing long term trendline only after the fall had happen and more stupidly by you, having no shorts for this pair.

An actual seller who made millions from this fall can be congratulated, but bandwagoners like yourself must leave this thread NOW
  • #13,775
  • Jan 15, 2015 10:17am Jan 15, 2015 10:17am
i think this could be end of many retail fx brokers, also of some banks exposed to CHF rate
  • #13,776
  • Jan 15, 2015 10:19am Jan 15, 2015 10:19am
Swiss NB have actually spoiled the whole market action. No pair can now be traded without big risks. This will not settle anytime soon, say a month or so(considering ECB next week another drama!)
  • #13,777
  • Jan 15, 2015 10:22am Jan 15, 2015 10:22am
Dont speak about the people here.Are you the people? Are you stupid or what? He made a good point.
Quoting Harris27
{quote} People here do not need your nonsense comments. People here had been trading this pair for long and commenting continuously on this thread, not to have stupid comments like yours filling this thread, showing long term trendline only after the fall had happen and more stupidly by you, having no shorts for this pair. An actual seller who made millions from this fall can be congratulated, but bandwagoners like yourself must leave this thread NOW
  • #13,778
  • Jan 15, 2015 10:26am Jan 15, 2015 10:26am
Quoting Harris27
{quote} People here do not need your nonsense comments. People here had been trading this pair for long and commenting continuously on this thread, not to have stupid comments like yours filling this thread, showing long term trendline only after the fall had happen and more stupidly by you, having no shorts for this pair. An actual seller who made millions from this fall can be congratulated, but bandwagoners like yourself must leave this thread NOW
LOL,

Just look back through my posts to where I clearly stated that the peg would fail. I also copped some 'short term' criticism when the SNB introduced negative rates and the market spiked for an entire hour before pulling back. I also stated that I would be short only once it broke and pulled back. I am waiting for the pullback but considering the fall I doubt I will get my entry level that will give me the best possible position without having to go through hundreds of points of drawdown or take too many losses just to get it. I would rather find other opportunities.

I don't play with fire, you get burnt that way. I will leave you to believe what ever it is you want to believe but I doubt you will go back to see the post because at the end of the day you are bitter because a 'Black Swan' (which technically it really isn't because the writing was on the wall) occurred and you got caught with your pants down. Keep blaming others for your poor trades. I have come and gone from this forum for years and seen hundreds of people come and go and you will likely disappear into the ether because that is what happens with people find no one else to blame and finally have to look at themselves.

Good luck to you
  • #13,779
  • Jan 15, 2015 10:30am Jan 15, 2015 10:30am
Quoting Bilstein
{quote} Yeah, man. I closed my book and I'm out till next week. In my eyes, the market needs time to shake this thing off. Believe me though, I completely understandthat I could have experienced the opposite results today. It's just a matter of not over-leveraging one's self. Ever the objective realist that I am, I figured some hypothetical results had I been on the losing side: 6-7% of my total account value. Would have sucked hard, but wouldn't have killed me by any means.
I agree this is not an idea of over-leverage but terrible oversight and policy by the SNB. What the SNB has done is by creating market imbalance or market inefficiencies. This hampers the credibility and trust of the SNB in eyes of the global world. As policy makers they are responsible in easing the drop/rise of any currency movements. They essentially just dropped a nuke on the markets instead of dropping a nuke on the markets with a parachute, hard landing vs soft landing. It is obviously they would eventually get rid of the peg system but no one knew when. How the SNB handled the situation is a complete disaster and at best, amateurish. In terms of over-leveraging, if you intend to make any good $$ in forex, you need some sort of leverage. There is no way any account can withstand a -1000 - -2000 pip drop in their positions without significantly affecting the account balance.
Trade what you see, not what you think!
  • #13,780
  • Jan 15, 2015 10:39am Jan 15, 2015 10:39am
Quoting Fxworld
Dont speak about the people here.Are you the people? Are you stupid or what? He made a good point. {quote}
Thanks

I am normally an extremely positive person and I don't like being negative, but when someone does something reckless and yet tries to blame everyone and everything for their personal actions then it is time to be a little negative in the hope they stand back and think 'hmmm, perhaps it was reckless, better learn something from it and move on'.

Listening to main stream media (Bloomberg, CNN etc) tends to dull the minds of people. They promote what they are told to promote. They put a positive spin on all the reports and if the reports are crap then they will just focus on whatever is positive in them. I tend to lend an ear to the renegades out there as there information seems to be a little more purist. They tend to look below the surface unlike some dopey reporter who, whilst being half decent at journalism, wouldn't have a clue about the markets except what they read of a Teleprompter.

People need to wake up sometimes and just take a step back, filter all the bullshit out and make their own choices.

Oh well, you can't save everyone can you
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