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Cable Update (GBPUSD)

  • #442,901
  • Oct 6, 2016 7:17pm Oct 6, 2016 7:17pm
Quoting Riskee
{quote} Yes...i blew my account ...first i thought it was another pair or a technical error...i was just going for a cup of tea ...i cant beleive what just happened ..it took me 3 years to build up this amount of money from trading
Wow... and here I am upset about losing a little over $100. Really sorry dude...
  • #442,902
  • Oct 6, 2016 7:18pm Oct 6, 2016 7:18pm
Quoting Davit
{quote} I agree with you there was similar crash on stocks caused by 1 single Pakistani programmer.I watched a program on it.He used special algos to trick other algos to sell if I recall correctly
Kind of offtopic. But is that something you could send a link to? Or the name of the program

Thanks D
MY SITTING, NEVER MY THINKING!
  • #442,903
  • Oct 6, 2016 7:19pm Oct 6, 2016 7:19pm
Quoting Nabz
I saw maximum spread of 25 pips during the drop.
Same here. Dawrinex ??

What about other brokers ? Did anyone watched his spreads?
  • #442,904
  • Oct 6, 2016 7:20pm Oct 6, 2016 7:20pm
Quoting Riskee
{quote} Yes...i blew my account ...first i thought it was another pair or a technical error...i was just going for a cup of tea ...i cant beleive what just happened ..it took me 3 years to build up this amount of money from trading
Really sorry for your loss. Anything can happen in these crazy markets.
  • #442,905
  • Oct 6, 2016 7:21pm Oct 6, 2016 7:21pm
Quoting Ratmach
{quote} Wow... and here I am upset about losing a little over $100. Really sorry dude...
I was upset as I couldnt take my profits cause broker locked online trading and wouldnt answer their phone. But then I thought about longs, feel sorry for anyone lossing that amount of pips
  • #442,906
  • Oct 6, 2016 7:21pm Oct 6, 2016 7:21pm
Quoting timos
{quote} Same here. Dawrinex ?? What about other brokers ? Did anyone watched his spreads?
Yup, I'm on Darwinex.
  • #442,907
  • Oct 6, 2016 7:21pm Oct 6, 2016 7:21pm
Quoting merrygold
{quote} Close your eyes and tell me whats guaranteed Happy trading, i am happy that you didnt lose money on this
i appreciate the sentiment. i see it this way, it is much easier for me to go into legal arbitration with a broker if i have an order set (essentially a contract), than if i close my position with a market order (i'm action-ably responsible) or if I get margin called based on whatever the broker decides to place price at.

its important for us to remember we don't trade with the 'market', we trade with a broker -- that broker is only 'encouraged' to match 'open' market pricing out of competition...obviously true ecn will have advantage in this
  • #442,908
  • Oct 6, 2016 7:22pm Oct 6, 2016 7:22pm
It looks like it was a algorithm-driven flash crash triggered by a Financial Times article based on French President Hollandes speech on Brexit, said Angus Nicholson, a markets analyst in Melbourne at IG Ltd. Given low volumes in the Asian session, it would have forced other algorithms to join in and magnify the fall.

this must be the case because all GBP pairs droped at the same time.
  • #442,909
  • Oct 6, 2016 7:24pm Oct 6, 2016 7:24pm
Its a possibility of BOE might buy now to prevent total catastrophe
sort of stabilize it. Would love some official casting doubt on Brexit now would help
If markets are manipulated it could work reverse as well
It would be funny if it hits 1.30 next 12hrs
In trading, you have to be defensive and aggressive at the same time
  • #442,910
  • Oct 6, 2016 7:26pm Oct 6, 2016 7:26pm
Quoting Davit
{quote} I agree with you there was similar crash on stocks caused by 1 single Pakistani programmer.I watched a program on it.He used special algos to trick other algos to sell if I recall correctly
 
 
Do you remember the name of said program that sounds interesting.
  • #442,911
  • Oct 6, 2016 7:27pm Oct 6, 2016 7:27pm
Quoting Riskee
Wtf.....I lost 58000$ in one minute
Lol how many lots is that.Iam sorry for you thats alot of money.
  • #442,912
  • Oct 6, 2016 7:27pm Oct 6, 2016 7:27pm
Pretty crazy move
TE started 6/4/19
  • #442,913
  • Oct 6, 2016 7:30pm Oct 6, 2016 7:30pm
that's really scary ! thanks god no open position in that time
  • #442,914
  • Oct 6, 2016 7:31pm Oct 6, 2016 7:31pm
GBP is broken. This thing is going back down to test the 1.15 low before it goes back to 1.26
  • #442,915
  • Oct 6, 2016 7:32pm Oct 6, 2016 7:32pm
Quoting TalonTromper
{quote} Â Â Do you remember the name of said program that sounds interesting.
It was few yours back on 60minutes young Pakistani wiz kid living in London with his parents.Became multimillionaire literally overnight.
Don't remember the details but do remember the program
In trading, you have to be defensive and aggressive at the same time
  • #442,916
  • Oct 6, 2016 7:34pm Oct 6, 2016 7:34pm
So I lost about $5000 because my stops didn't hold. I was reminded by a friend that last October I lost $9000 for the same reason (a huge surge in price though I don't remember what exactly) and the previous October I lost about the same for the same reason. October is NOT my friend and next year I am taking the month off.
  • #442,917
  • Oct 6, 2016 7:35pm Oct 6, 2016 7:35pm
Some spreads comparison for this move:
LMAX: Less than 25 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 3925fbbf54d9456ebea162bab34253b1.png Size: 64 KB


Darwinex: 25 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: e0174e54ee7748f7aa9e6ca1c6de75ac.png Size: 60 KB


Pepperstone: 102 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 035c235f62dc46ad9bfadbb2f69b5645.png Size: 38 KB


FxPro: 80 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 9cf7ae58abed46ef9cf17c0c561f1c9a.png Size: 34 KB


Why do people still choose bucket shoops ??

You can find your broker historical spreads here: http://www.myfxbook.com/forex-broker-spreads
  • #442,918
  • Oct 6, 2016 7:38pm Oct 6, 2016 7:38pm
Quoting timos
Some spreads comparison for this move: LMAX: Less than 25 pips {image} Darwinex: 25 Pips {image} Pepperstone: 102 pips {image} FxPro: 80 pips {image} Why do people still choose bucket shoops ?? You can find your broker historical spreads here: http://www.myfxbook.com/forex-broker-spreads
I opened live accounts, deposited money and traded with 12 brokers and in the end settled with Darwinex. Thanks for the comparison.
  • #442,919
  • Oct 6, 2016 7:40pm Oct 6, 2016 7:40pm
Quoting Davit
{quote} It was few yours back on 60minutes young Pakistani wiz kid living in London with his parents.Became multimillionaire literally overnight. Don't remember the details but do remember the program
I remember that article - I think the US government was trying to go after him or some body and he already siphoned his money elsewhere etc ... dont think they were successful.
  • #442,920
  • Oct 6, 2016 7:41pm Oct 6, 2016 7:41pm
Quoting Luther
{quote} The spread wasn't too large for a drop like this. It isn't manipulation. We're trading in an area price hasn't been in 30 years. There aren't a large amount of buy orders down here, so you can hit large pockets with no liquidity until it reaches a price buyers are interested in. In a low volume period after NY close, if the algos pile in and stops are triggered it's going to drop hard.
I wasn't complaining, just mentioning.
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