- #14,243
- Jan 19, 2015 6:39am Jan 19, 2015 6:39am
- Joined Mar 2012 | Status: Trader | 2,310 Posts
{quote} No, no, don't worry. I wanted to say: it's a very good idea to have traded equities before. Generally speaking the fx market is much more liquid and thus 'save', but this incident was a very good reminder that this isn't a given. I would still say that EurUsd for example is one of the 'savest' instruments there is to trade. But you have to arrive at this conclusion knowing the alternatives. The level of naivity here is amazing. I paid for my sins of overconfidence, and rightly so. But I think I never saw this as a sure one-way-bet. I just...
- #14,245
- Jan 19, 2015 6:48am Jan 19, 2015 6:48am
I feel very sorry for those that lost an incredible amount of money even with a stop loss in place. I hope they all get it sorted out. My question, as a beginner trader, is how could one tackle events such as this? I had no idea anything like this was going to happen, and at this magnitude. Was this some sort of big news event that should have been avoided trading? I don't really understand how a trader can grow an account with the potential risk on every trade of a massive drop, resulting in not only losing all profits, but entering negative equity....
A protection is to withdraw ur profits as much as can, least until u get back ur deposited amount.
Number 1 Protection: Deposit what u can afford to loose ONLY
- #14,247
- Jan 19, 2015 6:53am Jan 19, 2015 6:53am
{quote} Number 1 Protection: Deposit what u can afford to loose ONLY
I understand this, but how can you expect to predict what you MIGHT lose when you've no idea how much the market may potentially gap in events such as this? I mean, 2000 pip move is enormous.
Also, so if nobody can predict such moves, how can traders expect to be profitable over time? It's pure luck if you are in or out of these massive moves?
Thanks
- #14,248
- Jan 19, 2015 6:55am Jan 19, 2015 6:55am
- Joined Dec 2010 | Status: Foook Bollinger-dr.Kegel knows! | 9,794 Posts
- #14,252
- Jan 19, 2015 7:29am Jan 19, 2015 7:29am
{quote} I understand this, but how can you expect to predict what you MIGHT lose when you've no idea how much the market may potentially gap in events such as this? I mean, 2000 pip move is enormous. Also, so if nobody can predict such moves, how can traders expect to be profitable over time? It's pure luck if you are in or out of these massive moves? Thanks
Afford to loose means if the all u have in life financially is 100K, do not deposit all into a broker account, deposit 20K or whatever amount u decide according to ur life status expenses etc.If u loose the 20K from 1 trade in 1 minute or 1000 trades in 1 year, it will have less impact on ur life, financially.
- #14,260
- Jan 19, 2015 8:15am Jan 19, 2015 8:15am
I request u guys post info about ur exit prices and the exact times (in seconds too), if there was liquidity at some prices at some brokers then others may have liquidity there too bcoz many brokers get price feed from same lp's, this will help on in the legal process. lets combine our efforts.
But later Saxo Bank modified the price to 0.9625.
My charts show that the lowest price in the first minute after the SNB announcement was 1,14736. Has anybody got some other information about the price at that time? Can attach plot your charts?
Because Saxo Banks business terms say that they are entitled to change the price on which the Client's order is executed to the market value at the time at which the order from the Client was received. But the market value at that time clearly wasn't 0.9625. That was nearly the lowest price of the first 10 minutes after the SNB announcement.