The Captains Chest - Naked Trading & Other Stuff

[Piter80]

Sorry Dagger I just read You was long on usdchf

[dudest]

Snb ends cap !

So that's what it was!!

Haven't been at my PC for a few hours. Came on and thought the Swiss had been visited by Heaven!

AUDCHF: fallen over 1300 pips!
USDCHF fallen over 1800 pips!
And the biggest of all: GBPCHF: over 2550 pips!!

Wait when the Americans wake up. SHOCK and AWE is an understatement! :O

PS: Speaking of understatement,.....

GBPCHF has a short vybe to it...

Watching from sidelines <----- WHY!?, oh WHY?


.

2500 pips later!, I am slapping myself silly!! aaaargh!

[Piter80]

I thought it's war
My mate just text me he was short on eurchf from 2 weeks.His Empty4 freeze
His just text me 1400% of account in 15 min wow

[blazej]

The fox is hunted by the ultimate predator
Dudest don't be worry. There gonna be another trades.

[Piter80]

Dudest. Next time trust your feeling
And Guys don't trade without sl.Many accounts was ended within seconds.
Still audcad S.Some positions closed on loss by my broker.Rest still in game.

[dudest]

The fox is hunted by the ultimate predator
Dudest don't be worry. There gonna be another trades.

True dat blaze!, thanks

You know, the fox usually hangs around when a bigger predator is in town, in the hopes of getting a piece of his catch

Fox must have seen the baddies showing up and known something was up. Either stayed away and protected his young, or got a nice bite of the hind-quarters while the bigger guy was at the throat!

[blazej]

I am curious who had interst in this. Swiss central bank unlocked the chf in comparison to eur which earlier were stiffly correallated at 1.2 euro per frank. What is the interest of switzerland in this? It looks like speculators have won.

[dudest]

Dudest. Next time trust your feeling
And Guys don't trade without sl.Many accounts was ended within seconds.
Still audcad S.Some positions closed on loss by my broker.Rest still in game.

Bummer for the losses man, thankful you are still in business.

PS: about SL in a situation like this:

The truth is: SL would not have helped [ or it's help would have been too minimal to make a difference ]

When price gaps like it did today (even when it gaps 'normal'), you are filled at the next available price.

And as if that wasn't bad enough, the spread widens [ not an issue if are exiting a LONG, but a big problem if you are exiting a SHORT ]

=> Longs: you pay spread when entering the trade, and none when exiting [ enter at Ask, exit at Bid ]
=> Shorts: you pay no spread when entering the trade, but pay it when exiting [ enter at Bid, exit at Ask ]

So by the time price has gapped to the next available price (where someone is willing to take the opposite side of the trade) and the spread has come back to normal, you are done, even if you had an SL

Example: say you were long GBPCHF at 1.5500 with an SL at 1.5450 before the 'nightmare' started:

=> 1130-1135H UTC-2 --> drop of over 600 pips. In the 11.30min, a drop of more than 400pips. You can be sure the spread was already WIDE at this point (liquidity providers withdraw). IF YOU WERE SUPER LUCKY, your STOP would have been filled EARLIEST after then 400 pips; if not, the next opportunity would have been at 625 pips.

Say your trade size was: 0.1 lot
==> 400 pips: ~$400
==> 625 pips: ~$625

What if it was 1 lot?
==> 400 pips: ~$4000
==> 625 pips: ~$6250

=> So if your stop was not filled in those first two cases ( and it is VERY likely that it would not have been, esp if you are with an ECN/DMA broker), your a/c would have run up the $ equivalent of a further 1700+ pips in the ensuing mins after that [ 1140-1155H UTC-2 ]. Because that's where the next available fills were. But then again, the spread was probably still crazy wide, right?

I'm currently in 5 lots on AUDUSD longs. Say it had been with one of these CHFs, let's use GPBCHF again:
=> ~ $50 per pip * 2500 = $125,000 => wipeout

I agree with you. There are a FEW you are REALLY CELEBRATING, but there are VERY MANY that have lost their a/c's just like that.. :/

PS: I could be wrong but:
=> We all know that the markets are NOT random, they are RIGGED + MANIPULATED + 0wn3d
=> The Swiss had a Gold referendum the other day
=> And then like 2 months later, they remove a cap they've defended for 3 years...!!! THERE ARE NO COINCIDENCES. Gold and money manipulation have ALWAYS been together. Watch these:
[ i ] http://topdocumentaryfilms.com/the-money-masters/
[ ii ] http://topdocumentaryfilms.com/the-ascent-of-money/

Cheers

[Piter80]

Both ways are shit.
Thanks Dudest.Hope Daggerfall is ok with usdchf

[dudest]

Both ways are shit.
Thanks Dudest.Hope Daggerfall is ok with usdchf

Hope so too...

This is the closest to a Black Swan event that I've personally seen... A real Black Swan then must be terrifying (!)

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