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  • #241
  • Jan 19, 2015 12:43pm Jan 19, 2015 12:43pm
Interview with Thomas Jordan BNS president.

He goes in details on why the peg exit was kept secret and was supposed to be a surprise.

Very interesting.

http://www.tdg.ch/economie/fin-taux-...story/14471958
So, you think you have rights? LOL
  • #242
  • Jan 19, 2015 2:23pm Jan 19, 2015 2:23pm
Quoting ForexOracle
Interview with Thomas Jordan BNS president. He goes in details on why the peg exit was kept secret and was supposed to be a surprise. Very interesting. http://www.tdg.ch/economie/fin-taux-...story/14471958
An interesting portion of that article:

La surprise était «nécessaire»
Maintenir le secret d'une décision aussi importante était crucial: «Il faut nécessairement surprendre le marché. Si vous montrez que vous réfléchissez à un changement, vous ouvrez la porte à des spéculateurs qui pensent en profiter». Aurait-il fallu prévenir Chrisine Lagarde, présidente du FMI, qui a souligné qu'elle «réservait son jugement» sur la pertinence de cette mesure? «La BNS est une banque centrale indépendante. Il nous appartient de préparer nos décisions seuls», répond Thomas Jordan.

For anglophones:
The surprise was necessary
Maintaining the secret of a decision so important was crucial. "It was necessary to surprise the market. If you were to show that you were thinking of a change, you would open the door to the speculators that plan on profiting. Should they have warned Chrisine Lagarde, the President of the International Monetary Fund, who highlighted that she "reserved her judgement" on the pertinence of such a measure? "The SNB is an independent central bank. It belongs to us alone to make our decisions, responds Thomas Jordan.
  • #243
  • Edited 3:03pm Jan 19, 2015 2:44pm | Edited 3:03pm
do you buy their story?

independent my ass, they are all in it together (led by the FED)
sure they'll all have a good laugh about duping the sheepeople while at Davos this wk
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  • #244
  • Jan 19, 2015 3:11pm Jan 19, 2015 3:11pm
Quoting ForexOracle
{quote} I don't believe for one second on those after the fact MM comments. MM made money because they win when customers lose. A lot of clients went bust so they made a killing. Now, they come busting on how they saw what was coming and all that nonsense, again AFTER THE FACT!

You are absolutely correct. Now all these mm are soliciting the clueless traders with "come trade with us... we wiped all negative balances". The only ECN I see forgiving negative balances is Dukascopy, even though their t&c state they can collect them. I wish I could trade with them, they are by far and away the best broker in the world. Hey CFTC.... I have an idea...instead of regulating us while not protecting us whatsoever, why not just let us trade with a bank in Switzerland...what a novel idea. if they were truly looking out for us, this is what they would do. Let us trade with the good brokers of the world.
  • #245
  • Jan 19, 2015 6:34pm Jan 19, 2015 6:34pm
Quoting Carlsberg
do you buy their story? independent my ass, they are all in it together (led by the FED) sure they'll all have a good laugh about duping the sheepeople while at Davos this wk {image} {image} {image}
Speaking about Davos......

I know a retired forex trader. Usually I communicate with him via e-mail but I call him once in a while.

He is from Switzerland by the way, and he always goes to those Davos meetings.

Last year (around June) I called him after he came back from Davos.

We were talking about the EUR/USD and he told me that the pair was too high and it would drop to 1.14.

I did no have he balls to trade his call, but last week I sent a e-mail congratulating him for the awesome call.

I guess this people now more than we do!!
So, you think you have rights? LOL
  • #246
  • Jan 21, 2015 8:27am Jan 21, 2015 8:27am
Bloomberg talking about the next volatility black swan.

But this time leaded by the dollar.

If I was a MM I would be salivating!

If I was a ECN I would be trembling!

If the Swissie did what it did to the markets, can you imagine a 4000 pip move on the EUR/USD?

Of course the pair is a lot more liquid and theoretically harder to move that much but anything is possible.

I believe the EUR/USD is up to a retracement .

I'm bracing myself against some nasty up moves.

http://www.bloomberg.com/news/2015-0...urrencies.html
So, you think you have rights? LOL
  • #247
  • Jan 21, 2015 9:19am Jan 21, 2015 9:19am
Quoting Profit Daily
{quote} You are absolutely correct. Now all these mm are soliciting the clueless traders with "come trade with us... we wiped all negative balances". The only ECN I see forgiving negative balances is Dukascopy, even though their t&c state they can collect them. I wish I could trade with them, they are by far and away the best broker in the world. Hey CFTC.... I have an idea...instead of regulating us while not protecting us whatsoever, why not just let us trade with a bank in Switzerland...what a novel idea. if they were truly looking out for us,...
Losses, losses, losses, losses... Where the money has gone? Are there "smart" guys who were able to foresee the event or those who were hit with crazy lucky shot??
Strangely enough with all this buzz don't see any news about funds or individual traders making a fortune on this collapse...
The only confirmed winner I have found so far https://blog.hotforex.com/hotforex-c...elling-usdchf/
Anybody else???
  • #248
  • Jan 21, 2015 12:55pm Jan 21, 2015 12:55pm
Quoting ForexOracle
{quote} Speaking about Davos...... I know a retired forex trader. Usually I communicate with him via e-mail but I call him once in a while. He is from Switzerland by the way, and he always goes to those Davos meetings. Last year (around June) I called him after he came back from Davos. We were talking about the EUR/USD and he told me that the pair was too high and it would drop to 1.14. I did no have he balls to trade his call, but last week I sent a e-mail congratulating him for the awesome call. I guess this people now more than we do!!
all of us could of been Millionaires by last Christmas

any tips from this yrs Davos will be gratefully received by the forum
  • #249
  • Jan 21, 2015 1:52pm Jan 21, 2015 1:52pm
Ok for the people with their heads stuck in the sand bashing, and calling me an alarmist !

The changes are starting

FXCM WILL CHANGE THEIR MARGIN MODEL

When I said that last Thursday's event was the great divider, and from now on forex will change, naive people didn't believe me.

http://forexmagnates.com/exclusive-f...s-two-steps-2/
So, you think you have rights? LOL
  • #250
  • Jan 21, 2015 1:57pm Jan 21, 2015 1:57pm
the article suggests this to be temporary for this week's event , given that they have already been burnt would want to be extra cautious :-)


i think given that the fodder brokers have to lure people is get rich with the leverage ... not sure if they would let go off of that handle as a permanent measure - the future days will clarify how the broker world /regulators are taking this event .. one off or keep retail trading at safe distance.....

Quoting ForexOracle
Ok for the people with their heads stuck in the sand bashing, and calling me an alarmist ! The changes are starting FXCM WILL CHANGE THEIR MARGIN MODEL When I said that last Thursday's event was the great divider and from now on forex will change, naive people didn't believe me. http://forexmagnates.com/exclusive-f...s-two-steps-2/
  • #251
  • Jan 21, 2015 2:00pm Jan 21, 2015 2:00pm
unfortunately there is no contact to verify the claim with the winner :-p


Quoting leebsurag
{quote} Losses, losses, losses, losses... Where the money has gone? Are there "smart" guys who were able to foresee the event or those who were hit with crazy lucky shot?? Strangely enough with all this buzz don't see any news about funds or individual traders making a fortune on this collapse... The only confirmed winner I have found so far https://blog.hotforex.com/hotforex-c...elling-usdchf/ Anybody else???
  • #252
  • Jan 21, 2015 2:18pm Jan 21, 2015 2:18pm
And since we are talking about forex changing......

http://forexmagnates.com/sharon-bowe...ion-retail-fx/

Ms Bowen’s........... “It is ironic, that following the enactment of Dodd-Frank, the retail foreign exchange industry is the least regulated part of the derivatives industry. I am concerned that lower standards are putting this industry in a precarious position and placing retail foreign exchange investors unnecessarily at risk.
So, you think you have rights? LOL
  • #253
  • Jan 21, 2015 2:27pm Jan 21, 2015 2:27pm
Quoting leebsurag
{quote} Losses, losses, losses, losses... Where the money has gone? Are there "smart" guys who were able to foresee the event or those who were hit with crazy lucky shot?? Strangely enough with all this buzz don't see any news about funds or individual traders making a fortune on this collapse... The only confirmed winner I have found so far https://blog.hotforex.com/hotforex-c...elling-usdchf/...
Every sentiment driven move in forex is zero sum.
The road to pipland is arduous and fraught with challenge.
  • #254
  • Jan 21, 2015 2:30pm Jan 21, 2015 2:30pm
Quoting ForexOracle
And since we are talking about forex changing...... http://forexmagnates.com/sharon-bowe...ion-retail-fx/ Ms Bowen’s........... “It is ironic, that following the enactment of Dodd-Frank, the retail foreign exchange industry is the least regulated part of the derivatives industry. I am concerned that lower standards are putting this industry in a...
If anything, I anticipate a reduction in regulation and an increase in retailer participation.
The road to pipland is arduous and fraught with challenge.
  • #255
  • Jan 21, 2015 2:36pm Jan 21, 2015 2:36pm
Quoting ForexOracle
Ok for the people with their heads stuck in the sand bashing, and calling me an alarmist ! The changes are starting FXCM WILL CHANGE THEIR MARGIN MODEL When I said that last Thursday's event was the great divider, and from now on forex will change, naive people didn't believe me. http://forexmagnates.com/exclusive-f...s-two-steps-2/
No problem. I do not have an account with them..


There are a lot of brokers to choose from
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #256
  • Jan 21, 2015 2:47pm Jan 21, 2015 2:47pm
Quoting Lacunoide
{quote} No problem. I do not have an account with them.. There are a lot of brokers to choose from
It is s trend my friend.

You can run but you can't hide.

Enjoy your leverage and spreads while you can !
So, you think you have rights? LOL
  • #257
  • Jan 21, 2015 2:51pm Jan 21, 2015 2:51pm
Quoting ForexOracle
Ok for the people with their heads stuck in the sand bashing, and calling me an alarmist ! The changes are starting FXCM WILL CHANGE THEIR MARGIN MODEL When I said that last Thursday's event was the great divider, and from now on forex will change, naive people didn't believe me. http://forexmagnates.com/exclusive-f...s-two-steps-2/

So they are changing it to what it already is in the US. There will still be brokers offering high leverage. I use them, they are fine. They managed risk properly. Risk has nothing to do with leverage. Lower leverage only requires a bigger deposit with your broker. I use high leverage brokers so I can keep the funds in my own bank account. So while I may be at 100:1 or 200:1 on the funds with my broker, I'm still only using 2-3% of my forex funds which I have in my bank. There is no safer way of protecting your money.
  • #258
  • Jan 21, 2015 2:54pm Jan 21, 2015 2:54pm
Quoting ForexOracle
And since we are talking about forex changing...... http://forexmagnates.com/sharon-bowe...ion-retail-fx/ Ms Bowen’s........... “It is ironic, that following the enactment of Dodd-Frank, the retail foreign exchange industry is the least regulated part of the derivatives industry. I am concerned that lower standards are putting this industry in a precarious position and placing retail foreign exchange investors unnecessarily at risk.
I repeat:

Their will still be brokers offering high leverage. I use them, they are fine. They managed risk properly. Risk has nothing to do with leverage. Lower leverage only requires a bigger deposit with your broker. I use high leverage brokers so I can keep the funds in my own bank account. So while I may be at 100:1 or 200:1 on the funds with my broker, I'm still only using 2-3% of my forex funds which I have in my bank. There is no safer way of protecting your money.
  • #259
  • Jan 21, 2015 2:55pm Jan 21, 2015 2:55pm
Quoting Profit Daily
{quote} I repeat: Their will still be brokers offering high leverage. I use them, they are fine. They managed risk properly. Risk has nothing to do with leverage. Lower leverage only requires a bigger deposit with your broker. I use high leverage brokers so I can keep the funds in my own bank account. So while I may be at 100:1 or 200:1 on the funds with my broker, I'm still only using 2-3% of my forex funds which I have in my bank. There is no safer way of protecting your money.
You are placing me unnecessarily at risk by reducing leverage. What aren't people understanding here. Lower leverage= bigger deposit= more risk
  • #260
  • Jan 21, 2015 2:59pm Jan 21, 2015 2:59pm
Let's be honest, I was pretty clear that there was a vacuum behind EUR/CHF 1.20. Who would be so stupid to place a buy order at let's say 1.18?! I'm really getting mad at me the more I think about it that I wasn't short EUR/CHF, because I knew that SNB would suffer when ECB launches QE. Just a tiny 0.1Lot position would have made me 2000 bucks richer. We were idiots when we believed, that SNB was to buy worthless paper money just fresh out of the money printing machine!!!

What's the conclusion for the brokers: Don't allow trades that speculate on some peg holding, or lower leverage for just these trades!!!
There is no Broker SL hunting, if your broker is non-dealing-desk.
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