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FLASH MOVEMENTS 2011-03-16 5pm EST

Raiden
Mar 16 2011 at 21:29
244 posts
If anyone is watching now(1700 EST, 2100 GMT), hang on for a rough ride! INSANE movements! WOOOO!!!

Most pairs moving by up to 400 pips in 20 minutes. Spreads widening to 30+ pips even for major pairs.

What's happening?

Consistency above all.
compuforexpamm (compuforexpamm)
Mar 16 2011 at 21:47
265 posts
Yeah, I just got taken for a ride I won't easily forget.............my GDF broker missed my stoploss by 112 pips😂

Wealth Creation Through Technology
Raiden
Mar 16 2011 at 21:52
244 posts
GBPJPY -530 pips
EURJPY -430 pips
AUDJPY -390 pips
USDJPY -320 pips
CADJPY -330 pips
CHFJPY -220 pips

USDCHF -170 pips
GBPCHF -310 pips
EURCHF -200 pips

AUDUSD -100 pips
GBPAUD +130 pips
EURAUD +170 pips
AUDNZD +160 pips
AUDCAD -120 pips

Civil war in Libya?

Consistency above all.
Raiden
Mar 16 2011 at 22:37
244 posts

compuforexpamm posted:
    Yeah, I just got taken for a ride I won't easily forget.............my GDF broker missed my stoploss by 112 pips😂


Sorry to hear that, man. I had prices gap below my SL before too, sucks when that happens. 112 pips is pretty insane though.

Consistency above all.
compuforexpamm (compuforexpamm)
Mar 17 2011 at 03:22
265 posts
Thanks.....been a bad month with Jade to boot. Lucky last night's fiasco only cost me about 1% but it could have been really nasty with a bit more exposure. I have come to believe that 50:1 leverage does have its benefits......it keeps risk under control.

Wealth Creation Through Technology
James_Bond
Mar 17 2011 at 07:45
556 posts
So what exactly happened to create such movement? I was away from my pc at the time..

speki
Mar 17 2011 at 08:07
735 posts
https://www.forexlive.com/173735/all/usdjpy-option-book-selling-caused-the-collapse

If you scroll the charts back to May 2010, something similar happened to U/J.

Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
James_Bond
Mar 17 2011 at 08:41
556 posts

speki posted:
    https://www.forexlive.com/173735/all/usdjpy-option-book-selling-caused-the-collapse

If you scroll the charts back to May 2010, something similar happened to U/J.


Right, I remember the day! It was the end for many carry traders..

Thanks 😄

Raiden
Mar 17 2011 at 10:26
244 posts
These kinds of flash crashes fly in the face of 'value investing' and proper price discovery. A little surprised today's movement was not mentioned much in the news, might be because it happened in the non-trading hours of the equity markets, so little to no net impact there.

Consistency above all.
James_Bond
Mar 17 2011 at 13:00
556 posts

Raiden posted:
    A little surprised today's movement was not mentioned much in the news, might be because it happened in the non-trading hours of the equity markets, so little to no net impact there.


Most likely.

I wonder if the movement was caused on off hours on purpose? Was it to prevent a deeper impact on the market?


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