The CHF tsunami - 15 January 2015 | Page 5 | Forex Factory

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The CHF tsunami - 15 January 2015

  • #81
  • Jan 15, 2015 4:26pm Jan 15, 2015 4:26pm
It's gotta be possible that USD/CHF has completely bottomed for the next few years where it just dropped... stupid me I bought some and then got out with a quick loss down there ,
  • #82
  • Jan 15, 2015 6:28pm Jan 15, 2015 6:28pm
"Today is a day ... that will live in infamy."

Thank god I wasn't trading with my live account today. I had chosen not to trade with my live account this month for various reasons and I'm certainly glad now I made that decision!
"Dream big and dare to fail." - Norman Vaughan
  • #83
  • Jan 15, 2015 6:42pm Jan 15, 2015 6:42pm
Surely the prior knowledge of what SNB were going to do would make most prudent traders have no positions in CHF or EUR pairs until the hurly-burly's done? I think a lesson we could all learn from this is to not trade currencies that are pegged to another currency lest the counter pegging catches you by surprise.

I'm sorry to hear so many people here lost quite a bit of money.
  • #84
  • Jan 15, 2015 7:02pm Jan 15, 2015 7:02pm
I can understand why SNB didn't give a "hint/warning" of the possibility of pulling the peg as it would have had a similar reaction but I think the better thing for them to do would have been to announce they were going to have a meeting on Jan.____ and @ ____GMT they would announce a decision on the peg similar to how the U.S. fed. decisions are announced. This would have allowed anyone that didn't want any participation in the decision to exit prior to any report. Their "surprise" decision caused many losses (& profits) and could have a longer-lasting affect for many caught on the wrong side. I feel some brokers will close as a result of the losses. Individuals in Switzerland that have retirement savings in the stock market just got a 10% chop to their savings. Will this cause some to be short of the needed money to sustain themselves through retirement?
Sorry to anyone that suffered from this decision.
  • #85
  • Jan 15, 2015 9:37pm Jan 15, 2015 9:37pm
Quoting pinktrade
{quote} Sorry for that Jyst, please let everybody in here know how that turns out for you. Hope your account is with a honest broker.
I was lucky enough to not trade any pair with CHF. In fact I woke up and start trading USDCHF, it was still crazy, but the spread was normal, around 2-ish.
I made almost $2k till around noon. Then USDCHF went down and down reached 0.8650ish then I put more and more money. the pair kept going down, meanwhile the total was negative $3k, with total of my balance was $9500 and margin balance was about 50%. I started nervous, but felt sure nothing bad would happen. Then took shower at 4.55pm-ish, done about 15 minutes later, went check my trading, and it's gone. The account balance was only $2,700 more or less, and it happened very quick. But I check the pair position sell so low around 0.8556 and buy same , around 0.8605. The spread kept changing crazily, up and down. I have never seen this before.
I then contacted my broker, chat with its rep. he said it all the rate from the bank. I kept asking him why the spread became so high, it had to be over 100, from regularly only 2-ish.

I have lost alot in the past, got liquidated many times in big amount, but it were all in normal spread. Sad, but I could accept it, but not what happened today.
  • #86
  • Jan 15, 2015 9:39pm Jan 15, 2015 9:39pm
In my opinion, it is a good news that SNB freed CHF now, which makes CHF again a free trading target for speculators like me.
After CHF was controlled around 1.2 by SNB, I never looked at it anymore, because I never touch anything that is controlled.
  • #87
  • Jan 15, 2015 10:00pm Jan 15, 2015 10:00pm
Quoting srt
I can understand why SNB didn't give a "hint/warning" of the possibility of pulling the peg as it would have had a similar reaction but I think the better thing for them to do would have been to announce they were going to have a meeting on Jan.____ and @ ____GMT they would announce a decision on the peg similar to how the U.S. fed. decisions are announced. This would have allowed anyone that didn't want any participation in the decision to exit prior to any report. Their "surprise" decision caused many losses (& profits) and could have a longer-lasting...
I completely agree with you. Your post almost makes too much sense.

I really feel for everyone who got caught up in this.
Follow me on twitter @FxLester
  • #88
  • Jan 16, 2015 1:22am Jan 16, 2015 1:22am
MY LUCKIEST DAYYYYYY !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I took a SELL order with 0.6 lot 30 minutes beforeeee this GREATT TSUNAMIIIII
I CLOSED THE TRADE WITH 13.000$ PUREEE PROFITTTTTTTTTTT
HAVE A GOOD TRADES EVERYONEEEEE
  • #89
  • Jan 16, 2015 1:43am Jan 16, 2015 1:43am
Quoting Mroue26
MY LUCKIEST DAYYYYYY !!!!!!
May I know your broker is? It is going to be though to withdrawal your money? Please share. Congrats with your trade.
  • #90
  • Jan 16, 2015 1:53am Jan 16, 2015 1:53am
Quoting koi99
{quote} May I know your broker is? It is going to be though to withdrawal your money? Please share. Congrats with your trade.
ITS ALPARI
I already Withdraw $ 2000 yesterday and no problem at alll im really surprised thank godd!
today i made $2900 in one trade too
have a good day everyonee
http://www.alpari.com/
  • #91
  • Jan 16, 2015 2:31am Jan 16, 2015 2:31am
I am wondering what's going to be with accounts went to negative balance? Will broker take legal actions against them to force to reimburse the losses?
Most probably for US clients by US brokers like FXCM (a lot of work for lawyers.).
Managed to profit a bit on retracement to ~1.00 level, my broker said all lucky beggars will get paid
  • #92
  • Jan 16, 2015 2:42am Jan 16, 2015 2:42am
Quoting Rylai
SL doesn't even save you in this type of situation
  • #93
  • Jan 16, 2015 2:43am Jan 16, 2015 2:43am
Quoting Cafitis
In my opinion, it is a good news that SNB freed CHF now, which makes CHF again a free trading target for speculators like me. After CHF was controlled around 1.2 by SNB, I never looked at it anymore, because I never touch anything that is controlled.
touche... me too lucky enough to not get with CHF trade.
my reason is simple:
1. why not trade USDCHF => because it is the same as trading EURUSD. I already shorting EU so it is useless to long USDCHF.
2. why not trade EURCHF => Thursday trade on EURCHF is purely based on fundamental. If you use technical analysis, USDCHF formed a big triangle with 1.2 as base. if the price close below 1.2 then I'll enter, if not wait and see. Unfortunately the price indeed close below 1.2 but it is already too late.
  • #94
  • Jan 16, 2015 3:04am Jan 16, 2015 3:04am
Quoting Mroue26
{quote} ITS ALPARI I already Withdraw $ 2000 yesterday and no problem at alll im really surprised thank godd! today i made $2900 in one trade too have a good day everyonee http://www.alpari.com/
Forgive my skepticism but what size was your lot today as I don't see the market moving much today in comparison to yesterday and so to get close to 20% of yesterdays win must have required a much larger lot size?
  • #95
  • Jan 16, 2015 3:25am Jan 16, 2015 3:25am
Quoting snipersk
{quote} Forgive my skepticism but what size was your lot today as I don't see the market moving much today in comparison to yesterday and so to get close to 20% of yesterdays win must have required a much larger lot size?
5 lots
  • #96
  • Jan 16, 2015 3:28am Jan 16, 2015 3:28am
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  • #97
  • Jan 16, 2015 3:49am Jan 16, 2015 3:49am
Oh My!. Alpari just declared insolvency do to loss yesterday. Account holders sustained catastrophic losses.

It just hit the news wire.
  • #98
  • Jan 16, 2015 4:00am Jan 16, 2015 4:00am
Quoting mkfxtrader
oh my!. Alpari just declared insolvency do to loss yesterday. Account holders sustained catastrophic losses. It just hit the news wire.
what do you mean?????
They are not responsible of losses done yesterday?
So ... Traders lost will pay
and traders who won will get paiiiiiiiiiid :d
  • #99
  • Jan 16, 2015 4:03am Jan 16, 2015 4:03am
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  • #100
  • Jan 16, 2015 4:03am Jan 16, 2015 4:03am
Looks to me the only one that benefited from this event was the SNB and their families. What a shame. Thank GOD, I gave up trading all CHF pairs three years ago after their announced manipulation. Hope everyone here on FF was not hurt too bad by this planned catastrophe. Alot of people hurting today.


Cheers
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