kwchau » Sat Jan 17, 2015 3:05 am wrote:

Aussiedoc » Fri Jan 16, 2015 9:13 pm wrote: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.

Amit » Sat Jan 17, 2015 5:30 am wrote: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

Amit » Sat Jan 17, 2015 12:30 am wrote: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 » Sat Jan 17, 2015 2:02 am wrote: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.

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

John3344 » Sat Jan 17, 2015 5:15 pm wrote:

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