Is it possible to avoid getting wiped out by a move like SNB? | Page 3 | Forex Factory

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Is it possible to avoid getting wiped out by a move like SNB?

  • #41
  • Jan 27, 2015 7:45am Jan 27, 2015 7:45am
Quoting alt11
Hi all, I've been demo trading quite successfully to the point where I'm considering going real. However the surprise move by the SNB last week and the ensuing horror stories have got me thinking. Was there a way to avoid being wiped out if you were long eurchf with a stop loss? I guess my question is: are there any brokers that would have guaranteed the execution of a stop loss even in this case, even with a huge gap? Because if not, then trading FX is just crazy. Thanks
Yep! Don't trade Fx.
This is until, however, that you understand the market.

Oh, I forgot to say, perhaps prayer helps in these situations although being of the atheist persuasion this is not in my trading plan!

One against the many.
  • #42
  • Jan 27, 2015 7:50am Jan 27, 2015 7:50am
Quoting alt11
Hi all, I've been demo trading quite successfully to the point where I'm considering going real. However the surprise move by the SNB last week and the ensuing horror stories have got me thinking. Was there a way to avoid being wiped out if you were long eurchf with a stop loss? I guess my question is: are there any brokers that would have guaranteed the execution of a stop loss even in this case, even with a huge gap? Because if not, then trading FX is just crazy. Thanks
Very easy, don't expect your order to be filled in a place where no one wants to take the other side, eg. no one was willing to buy EURCHF below 1.2 but thousands were willing to sell. I was long EURCHF on two brokers, had my SL just above 1.2 and it got filled with no slippage.

Other tips include depositing just a fraction of your money with the broker, let's say 20%, and choose the one that says your balance can't go negative.
  • #43
  • Last Post: Jan 27, 2015 7:58am Jan 27, 2015 7:58am
If want to avoid getting wiped out by a move like SNB, triangle hedge trade maybe is a effective method, i think.
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