HGI

[nanningbob]

So you think its all money and roses for a broker?

FXCM
http://forexmagnates.com/fxcm-announces ... olatility/

EXCEL
http://forexmagnates.com/swiss-currency ... lose-shop/

ALPARI
http://forexmagnates.com/alpari-uk-conf ... -accounts/

I wonder how many brokers will change their high leverage offerings in the future. All of a sudden a 500 dollar account leveraged 400:1 puts them at some pretty high risk. Lets see 500 x 400 = 200,000. Wonder how many brokers will keep that up?? Oh and the trader is legally obligated for the difference. Hmmmmm makes on think about this little game. Imagine all those 300-1000 dollar accounts who now have a balance of 199,000 in the hole they need to make up.

[fx800]

G'day everyone! :hi:

Please have a close look at the attached charts. I know they are retrospective but I don't think that they would change that much in real time.
Every single CHF related pair, from the M5 to the H4, gave a 'heads-up' of a Trend change - ahead of time.

Now, how brilliant is that??

Cheers

Hi Aussiedoc,

I'm sorry to pour cold water on you while you are so excited. I think it is important for us to clear up some misconception. As Bob always said, all indicators will fail in a sudden news event ! There is no exception, even HGI in this CHF event.

I have attached two CHFJPY charts which were taken by Steve's HGB EA when the trade was executed.
The first chart is after the event and refreshing the indicator. Simply looking at it, you want say just what you have said:

"Every single CHF related pair, from the M5 to the H4, gave a 'heads-up' of a Trend change - ahead of time.
Now, how brilliant is that??"

Then please look at the second chart which was taken when the trade was closed by the EA soon after the event. You could see that the indicator had given a big Trend Sell right before the big rise. Therefore your statement : "I know they are retrospective but I don't think that they would change that much in real time " may not be correct, particularly when the market is very volatile.

I hope this clear up the situation.

Thanks for posting the charts, KWC.

This would explain why many HGB accounts blew up instead of making a killing. My sympathy for those who lost real money during this Black Swan event. C'mon, chin up, dust yourself down, and start afresh again next week. Even the big instituitons like Citi Group, Deutche Bank and Barclays with their sophisticated computer systems got hit. It is sheer bad luck and there was nothing you could have done otherwise.

By a stroke of good fortune, I was tweaking the settings of HGB on my small live account, and had removed all the ea from the 28 pairs on wednesday before the US news release at 1.30pm GMT. Otherwise, I would have suffered the same fate as many others here.

[Amit]

ON friday , 16 Jan , an hour before NYO.. there was a big fat red arrow sell on CADJPY , GBPJPY , EUROJPY and USDJPY. They all moved into profits of 10 pips - 14 pips ( which IMHO is not sufficient for moving stops to BE on any pair , especially JPYs) and then all of them reversed , kinda really big time. Obviously stops were hit , even when set at the top of the arrows.

So its a difficult thing for me personally , taking the call , to trade this big bold arrow down/ up or not since this has happened in the past too.

Is this happening to someone else too and how does one handle it...

thanks

[fx800]

ON friday , 16 Jan , an hour before NYO.. there was a big fat red arrow sell on CADJPY , GBPJPY , EUROJPY and USDJPY. They all moved into profits of 10 pips - 14 pips ( which IMHO is not sufficient for moving stops to BE on any pair , especially JPYs) and then all of them reversed , kinda really big time. Obviously stops were hit , even when set at the top of the arrows.

So its a difficult thing for me personally , taking the call , to trade this big bold arrow down/ up or not since this has happened in the past too.

Is this happening to someone else too and how does one handle it...

thanks

I would suggest avoid trading before HIGH IMPACT NEWS.

US data released from 1.30 pm thru 3 pm GMT had affected the US equities. The Dow rose, so from risk-off to risk-on mode, the yen weakened, so your trades reversed.

When the stock market falls, its risk-off, so flight to safe haven currency like the yen, the yen strengthened, your xxxjpy pairs fall. The reverse happens when equities rise.

When you are trading xxxjpy pairs, keep an eye on the stock market.

I was trading the Dow Jones on Friday, waited for the news release, then there were buy signals from HGI on H1 at 3 pm GMT that went more than 100 pips.

HIGH IMPACT NEWS move currencies and stock indices. Wait after their release, then wait for HGI signals and then TRADE.

You don't need to go chasing everything that moves. A couple of good trades like these a day, then the rest of the day off to do something else.

Get your news from FF http://www.forexfactory.com/calendar.php

I have tried automated trading on 28 pairs on HGB, so far it is up and down like a yo-yo. Still very impressive considering the turbulent market conditions lately.

[fx800]

One pair I will be watching next week will be EURUSD.

As the next ECB MEETING and the GREEK ELECTIONS draws nearer, more negative news are emerging. Drip drip drip, it is drifting lower.

http://www.forexfactory.com/news.php?do=news&id=522138

The chart shown uses Bob's 10.7 60 ATR channels. Look for the EU to retrace,bounce off the ATR line, an HGI sell signal, then pull the trigger. The ATR channels also are good areas for TP.


This will be my staple for the next few days. It can be yours too.

Let's face it, we can't all trade all 28 pairs like Master Bob. It takes years of hard graft and experience to trade like the great maestro himself.

P.S. Will not be trading EURUSD on 22 Jan until AFTER the ECB news conference.

[nanningbob]

ON friday , 16 Jan , an hour before NYO.. there was a big fat red arrow sell on CADJPY , GBPJPY , EUROJPY and USDJPY. They all moved into profits of 10 pips - 14 pips ( which IMHO is not sufficient for moving stops to BE on any pair , especially JPYs) and then all of them reversed , kinda really big time. Obviously stops were hit , even when set at the top of the arrows.

So its a difficult thing for me personally , taking the call , to trade this big bold arrow down/ up or not since this has happened in the past too.

Is this happening to someone else too and how does one handle it...

thanks

I lost money on those arrows also so it happens. NEXT

[nanningbob]

One pair I will be watching next week will be EURUSD.

As the next ECB MEETING and the GREEK ELECTIONS draws nearer, more negative news are emerging. Drip drip drip, it is drifting lower.

http://www.forexfactory.com/news.php?do=news&id=522138

The chart shown uses Bob's 10.7 60 ATR channels. Look for the EU to retrace,bounce off the ATR line, an HGI sell signal, then pull the trigger. The ATR channels also are good areas for TP.


This will be my staple for the next few days. It can be yours too.

Let's face it, we can't all trade all 28 pairs like Master Bob. It takes years of hard graft and experience to trade like the great maestro himself.

I may have 24 pairs on my screen but I don't trade all 24 pairs at the same time. I can
try to choose the best ones for the day or week.

[sponn]

News can move pair 100 maybe 200 pips so no need to worry if you use good lot size and some stops.
But it was something different. SNB change his monetary policy so on most brokers you have got eur/chf 1.20 and next tick was 1.0 so possitions weren't closed on SLs.

In the ohter hand SNB has made something like this second time. No one except SNB did it before and I believe won't do it in the future because looks like there is no way to "freeze" curency for a longer time. Even SNB has to give up because it was to expensive.

Anyway. We all have to accept the loses and move on. Nothing else.

I'm really sorry for everybody who lost his account on this event.

[John3344]

But it was something different. SNB change his monetary policy so on most brokers you have got eur/chf 1.20 and next tick was 1.0 so possitions weren't closed on SLs

Thanks for your post Sponn. You mentioned that holding a long position (for my example 1 lot long) on the EURCHF at 1.20 when SNB caused the pair to dive with the next tick a 1.00 (for example). Say they had a SL at 1.15 then their position would not have closed on the SL, but at 1.00 instead, I would assume.

I am curious what would have happened. Would the trade be closed at 1.00 or would it have been impossible to exit the trade possibly blowing the account?

To put my question another way. Some of the SHF traders were long the EURCHF when the announcement came out. Assuming they had a SL in place, were their accounts blown or did their SL close them out of the trade albeit with more than normal slippage?

This may be a painful question to answer for traders who had long positions even if protected by stop loss orders if the stops were not honored at any level. But, knowing that the stop loss orders were hit (even with slippage) would give me some minimal sense of security that stop losses will save my account even under such drastic circumstances.

If you were long EURCHF when the SNB announcement hit, please share your experience with Stop Loss orders.

John

[Gertje]

But it was something different. SNB change his monetary policy so on most brokers you have got eur/chf 1.20 and next tick was 1.0 so possitions weren't closed on SLs

Thanks for your post Sponn. You mentioned that holding a long position (for my example 1 lot long) on the EURCHF at 1.20 when SNB caused the pair to dive with the next tick a 1.00 (for example). Say they had a SL at 1.15 then their position would not have closed on the SL, but at 1.00 instead, I would assume.

I am curious what would have happened. Would the trade be closed at 1.00 or would it have been impossible to exit the trade possibly blowing the account?

To put my question another way. Some of the SHF traders were long the EURCHF when the announcement came out. Assuming they had a SL in place, were their accounts blown or did their SL close them out of the trade albeit with more than normal slippage?

This may be a painful question to answer for traders who had long positions even if protected by stop loss orders if the stops were not honored at any level. But, knowing that the stop loss orders were hit (even with slippage) would give me some minimal sense of security that stop losses will save my account even under such drastic circumstances.

If you were long EURCHF when the SNB announcement hit, please share your experience with Stop Loss orders.

John

It's even worse, it depends on your account currency.

I had an 0.01 lot buy GBPCHF that went over 4000 pips in the hole. Instead of $400+something, it went -$1600,- due to the fact that USDCHF was trading around 0.27xx at the time.

See my post @ HGB;
http://www.stevehopwoodforex.com/phpBB3 ... 70#p111263