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

allanteh » Sun Jan 18, 2015 7:09 am wrote:ps: eager waiting for HGI-EA.

nanningbob » Sun Jan 18, 2015 3:34 am wrote:Just a note:

FXCM Client Accounts Secure – Raises $300 Million in Capital

FXCM previously announced that due to unprecedented volatility in the EUR/CHF pair after the Swiss National Bank announcement of January 15, 2015, clients experienced significant losses and generated negative equity balances owed to FXCM.

To ensure the full financial stability of ALL client accounts, and FXCM, TODAY we have announced that Leucadia National Corporation will provide $300 Million in financing capital to FXCM Holdings LLC.

Normal trading and operations will continue for all of its customers.

The net proceeds will be used to replace capital in FXCM regulated entities.

FXCM will continue to be one of the largest forex brokers globally.

With the investment of the new capital, the Company has returned the regulatory capital it maintained prior to the losses client suffered as a result of the historic movement of the Swiss Franc early Thursday morning.

The company is in compliance with all the regulatory capital requirements in all of its jurisdictions.