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EUR/CHF

  • #14,061
  • Jan 17, 2015 5:28am Jan 17, 2015 5:28am
saxo now sending "formal demand of payment" with deadline to pay, friday 23 jan
  • #14,062
  • Jan 17, 2015 6:10am Jan 17, 2015 6:10am
hehe Orion....
If there would be any kind of voting here on FF for "THE BEST POST OF THE YEAR" I will definitely vote on your post.
Just to let everybody know, this is what Orion posted here on January 6th, 2015.
It's fekin amazing.
I hope you kept your EURCHF short and cashed out large profits...
Good job man...
Good Luck :-)

Quoting Orion602
Jan 6th/2015 ( a week before Swiss Tsunami )
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.
Read Charts - Not Papers
  • #14,063
  • Jan 17, 2015 6:38am Jan 17, 2015 6:38am
Yes, I was so biased due to USDCHF long ...........

Live and learn
  • #14,064
  • Jan 17, 2015 6:41am Jan 17, 2015 6:41am
final thoughts. 11% of all the traded volume in the world was long EURCHF so one can assume that all these firms are insolvent so they will be in a hurry to collect as much as they can to avoid imminent bankrupcy before the end of the month. Tell them that you are suffering an act of God and that you have no liquidity at the moment, delay them as much as possible because in the end they are the ones in trouble... They owe the bank that offered liquidity to execute you trades, you are only one ammong hundres off thousands
  • #14,065
  • Jan 17, 2015 6:41am Jan 17, 2015 6:41am
Quoting Caa
saxo now sending "formal demand of payment" with deadline to pay, friday 23 jan
Damn... It must be really stressful.
Here's something that might interest you, buddy.

Some lies
(...)A special team on Saxo’s trading floor was working hard yesterday night to resolve the situation for clients having lost money in the Swiss currency crosses and working with the affected clients. Liquidity in the market was suddenly almost non-existent following the SNB announcement, and the team had to ensure and verify that all orders and execution requests were executed at reliable prices. For some clients this meant that their positions were stopped out.
http://www.saxoworld.com/news/press-...rency-surprise

Pure robbery:
(... from the forum below) Hi, I had stoploss orders at 1,2005, at first i seemed like the orders were excecuted above 1,20. But got a mail a couple of hours later from Saxo telling me that there might be changes.... 12 hours later I got a new mail telling me the orders were changed to 0.96.
http://www.forexlive.com/blog/2015/0...-january-2015/
Read Charts - Not Papers
  • #14,066
  • Jan 17, 2015 7:18am Jan 17, 2015 7:18am
Quoting Caa
{quote} Eurchf otc in 300k where out at around .86-.87 / 10 min after the announcment 2 Rf contracts where out around 1.015 / after the market halt Acc value was around 50k. Saxo say "you can lose more than what u have" & "you need to cover for neg balance" Obviously .86 is an extrem price that they enjoyed filling client at. Rf contract have traded for a minute above 1.19 and then have traded for 4 minutes between 1.16 and 1.17 with a huge volume. Rf contracts should have benn out at a higher price and no comment on otc fill. But again they have...
Honestly, am not that involved in OTC to give you a better advice than others. It must get the same prices updates like our normal trading platforms and methods.

It went to 0.86 in 10 min. for u, the same happened for some brokers normal accounts, others had 1.01 low

About the Swiss mafia bank, explained that before, what can i add more!, briefly, why apply both cut rates and remove peg, doing the first and waiting for market reaction was the smartest decision. Who will u talk to? Idiots like Jordan and the other basXXXrds.
Other than putting many big companies out of business including Swiss ones, the Swiss idiot bank left the companies employees and their families to the street destiny!!! What a shameful CB!!
  • #14,067
  • Jan 17, 2015 7:23am Jan 17, 2015 7:23am
Quoting LarryDarrell
{quote} I would advise everyone to remain calm. This obviously is a special situation, and brokers will at the moment push with everything they have at their disposal to get negative balance from their customers. They might even have ultra secure formulations in their contracts to enable them to do just that. But recieving the money is something very different. As far as I understand, a lot of people who have negative balance simply don't have that much money. It's their own fault, of course, read the contract before you sign anything! There was...
Good advice. No need to panic. Wait for them to make the legal step. You have time later to review and discuss the case with your lawyer depending to the scam broker charges specifically.
  • #14,068
  • Jan 17, 2015 7:26am Jan 17, 2015 7:26am
Quoting hornsant
There is a lesson behind this: only free floating instruments should be available to the public on trading platforms
Maybe best time to go back to paper money exchange, safest method out of the 95% of brokers(SCAM)
  • #14,069
  • Jan 17, 2015 7:29am Jan 17, 2015 7:29am
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.

You just made billion or even more congrats !!!
The master knows exactly the right time to do nothing.
  • #14,070
  • Jan 17, 2015 7:31am Jan 17, 2015 7:31am
Quoting de123
{quote} i simly cant get Quite, if i cant trade against saxo, because i switch broker years ago, i Will try to trade against them without account, by advising to thos who have negative balance to not pay them anything . If you have XYK negative balance, consider this as a trade, risk XK to lawyer (if you would need it all) and your profit is XYK (your negative account at them), why not take that trade???....i simply dont understand why not. evrybody saying you should pay, are either brokers people or stupid, and dont know how stuff like that goes...
Right. First, if they have the guts to make a legal step(the word will spread in forums before u know it from a letter to ur house, u have time), instantly withdraw ur money from banks, write ur properties(land, houses..etc) in the name of ur father or mother(safest, guaranteed).

Second, no need to appoint a lawyer, tell the court you can't pay him, they're obliged to assign one for u, even criminals get this.
  • #14,071
  • Jan 17, 2015 7:35am Jan 17, 2015 7:35am
Quoting gajebo
{quote} So which country still have the guts to peg their currency? edit: found my answers... apparently there's still 4 country peg their currency: Bulgaria, Bermuda, Denmark and Brunei. Denmark especially peg their currency to EUR the same as CHF and it's peg at 7.46
Add Hong kong. All have more credibility than the Swiss National Bank idiots.
  • #14,072
  • Jan 17, 2015 7:38am Jan 17, 2015 7:38am
Quoting Caa
saxo now sending "formal demand of payment" with deadline to pay, friday 23 jan
Tell them to respect stop out % first, ignore them.
  • #14,073
  • Jan 17, 2015 7:41am Jan 17, 2015 7:41am
Quoting Ken A
Yes, I was so biased due to USDCHF long ........... Live and learn
Was lucky, didn't trade usdchf that day on my other accounts. Had open orders on gbpusd audusd eurcad nzdusd audnzd usdcad and euraud, made good profit from.
  • #14,074
  • Jan 17, 2015 7:43am Jan 17, 2015 7:43am
Quoting jmn5611
{quote} Exactly. Stops are not what killed them. Leverage was.
finally someone gets it! I'm surprised FXCM is still around. I bet even European brokers lower their leverage to clients. Couldn't imagine looking at my account and owing $X,XXX
When the facts change I change my mind, what do you do sir
  • #14,075
  • Jan 17, 2015 7:45am Jan 17, 2015 7:45am
Quoting Harris27
{quote} Add Hong kong. All have more credibility than the Swiss National Bank idiots.
You kidding? The SNB finally has credibility. How is the SNB's fault traders are lazy? The credibility was lost when the peg was created in the first was place. Traders have ate out of central bankers' hands for six years and this bullshit thing called forward guidance. Surprise! This is what forex should be.
When the facts change I change my mind, what do you do sir
  • #14,076
  • Jan 17, 2015 7:45am Jan 17, 2015 7:45am
Quoting halkins
{quote} Damn... It must be really stressful. Here's something that might interest you, buddy. Some lies (...)A special team on Saxo’s trading floor was working hard yesterday night to resolve the situation for clients having lost money in the Swiss currency crosses and working with the affected clients. Liquidity in the market was suddenly almost non-existent following the SNB announcement, and the team had to ensure and verify that all orders and execution requests were executed at reliable prices. For some clients this meant that their positions...
"For some clients this meant that their positions were stopped out. "

This is what all brokers must had done if they apply the basics of trading conditions. Sadly, 95% turned to be B-Book brokers, nothin transferred to real market.
  • #14,077
  • Jan 17, 2015 7:49am Jan 17, 2015 7:49am
Quoting Pip Anon
{quote} finally someone gets it! I'm surprised FXCM is still around. I bet even European brokers lower their leverage to clients. Couldn't imagine looking at my account and owing $X,XXX
High Leverage may had killed brokers, but it must had protected clients, bcoz the more u over leverage the more ur orders must be stopped out before time(no free margin), if not all at once, partially until all available margin runs off.
  • #14,078
  • Jan 17, 2015 7:50am Jan 17, 2015 7:50am
Quoting AlwaysWinnin
Guys, I think this is getting ridiculous now. I say just get over it, take it on the chin and stop with the whining. Are you not aware that 95% of traders fail? Not all of you can be part of the 5%.
That's proven to be a myth.
When the facts change I change my mind, what do you do sir
  • #14,079
  • Jan 17, 2015 7:52am Jan 17, 2015 7:52am
Quoting Harris27
{quote} High Leverage may had killed brokers, but it must had protected clients, bcoz the more u over leverage the more ur orders must be stopped out before time(no free margin), if not all at once, partially until all available margin runs off.
Not necessarily, not in an event like this. Who knows where they're cut on a 3,500 pip drop. I have personally see traders' margin go into the negative under "normal" circumstances.
When the facts change I change my mind, what do you do sir
  • #14,080
  • Jan 17, 2015 7:55am Jan 17, 2015 7:55am
Quoting Harris27
{quote} Add Hong kong. All have more credibility than the Swiss National Bank idiots.
For sure. Not sure about hkd but chf was not pegged, buying eurchf offered an upside with no downside, words from snb offered confidence to leverage. I wasnt around 30 years ago, but i hope no one ever trust snb, in a way they let down all their partner in their monetary policy.
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