EURCHF The Horror!

AnotherBrian · Post by **AnotherBrian** » Thu Jan 15, 2015 6:06 pm

So who was long / short this one when the shit hit the fan? I was using Pipmashers EA and just happened to be short and on the correct side, first the first time ever during an event like this. This was all about luck.

cstrick · Post by **cstrick** » Thu Jan 15, 2015 6:46 pm

wrong side very wrong

AnotherBrian · Post by **AnotherBrian** » Thu Jan 15, 2015 11:12 pm

This email came in from AVA trade - basically says "we are ripping you off and there is nothing you can do about it". I'm not with them any longer, left a couple of years ago - never go back.

As you probably know, the Swiss National Bank removed the floor of 1.20 on the EURCHF yesterday at 9:30 GMT.
Following the announcement, there was no liquidity on the CHF pairs and the EURCHF market fell from the floor of 1.2000 to 0.95-1.00, and then further through 0.85-0.90, and liquidity finally returned at prices between 1.03-1.04, all according to the Electronic Broking Services (EBS) .

AvaTrade is applying fill levels for all executed trades/orders which occurred between the times of 09:30:00 GMT to 10:50:00, with a EURCHF price of 1.0450. For all other CHF pairs, the execution rate will be calculated and the trades/orders will be adjusted by using the EURCHF price from the above and the relevant 3rd currency price vs EUR at the time.

AvaTrade is pleased to confirm that yesterday’s SNB statement and Swiss Franc volatility had no material effect on the company’s strong financial position.

If you have any questions please do not hesitate to contact our customer care team.

Regards,
AvaTrade Team

AnotherBrian · Post by **AnotherBrian** » Fri Jan 16, 2015 3:06 pm

clearly they are doing this to stay in business. If i had an account there, I'd still want my money and my trade price and if they go broke doing that, "sucks to be them".

johnf · Post by **johnf** » Fri Jan 16, 2015 11:59 pm

AnotherBrian · Post by **AnotherBrian** » Sat Jan 17, 2015 5:15 am

johnf » Fri Jan 16, 2015 6:59 pm wrote:Worth a read and look at the comments

http://www.forexlive.com/blog/2015/01/1 ... ency-rtrs/

That's a good read, lots of confusion. Some traders are still looking for more than 100:1 leverage, one guy says he needs 500:1. I guess that's OK if you're playing with your lottery budget...

Post by **skoda2008** » Sun Jan 25, 2015 9:43 am

I just came across this, and thought it was very well done...

http://youtu.be/AFsnqmupCIc

AnotherBrian · Post by **AnotherBrian** » Sun Jan 25, 2015 3:46 pm

Good video. Substitute Hitler for Vladimir Putin.
As soon as heard this news I thought, why would they do that, must be something to do with Russia.
Here's an article on it
Also keep in mind that 68% of Russian exports are Oil, maybe that is why Saudi and USA are pumping oil like there's no tomorrow! and pushing prices down.

Post by **Gertje** » Mon Feb 02, 2015 2:06 pm

Hello Gertjan,

Decision has been reached internally regarding your account and we have erased your negative balance as you can see in your account.

So at this stage you do not owe anything to Fxpig after the SNB/CHF Debacle

Best regards,

XXX

I had contacted them just after the CHF move, how to proceed with my -/- $500,- balance.
Do I need to make up for it?

They replied that they were in contact with their LiquidityProviders to establish a minimum-value for the CHF-pairs against what they would value all trades that closed in loss.

Today the above answer came, good show.

AnotherBrian · Post by **AnotherBrian** » Mon Feb 02, 2015 4:26 pm

Gertje » Mon Feb 02, 2015 9:06 am wrote:
Hello Gertjan,

Decision has been reached internally regarding your account and we have erased your negative balance as you can see in your account.

So at this stage you do not owe anything to Fxpig after the SNB/CHF Debacle

Best regards,

XXX
I had contacted them just after the CHF move, how to proceed with my -/- $500,- balance.
Do I need to make up for it?

They replied that they were in contact with their LiquidityProviders to establish a minimum-value for the CHF-pairs against what they would value all trades that closed in loss.

Today the above answer came, good show.

That's great news for you!