I would to ask for those who were trading ANY GBP major or minor cross to share your broker's name and what Prices you had on either your Winners or Losses.
I experienced several margin calls from not only my own trading but other systems that I followed through signal. These margincalls turned into Negative balance and will likely cost me over $5000 in negative balances.
Share your Charts, Broker Names, Execution delays slippage and/or log files, etc to document this latest British Pound Flash Crash.
Yup, happened all over. I took an 84% knock, refunded before margin call. The Jury is still out on exactly what caused it, speculation is human or server error (I'm not convinced a human can cause that), other suggestions are uncertainty from Brexit.
I'm putting it behind me, concentrating on recovery. Closed GBPUSD and USDJPY (won't be trading these anymore, too uncertain, when Brexit is finalized I will open those charts again).
Trying to shed light on the GBP moves overnight will be extremely difficult in the current climate, with the wide variety of trading platforms leaving all markets open to moves such as this in a community now heavily populated with machine based trading. Some have alluded to comments made by French president Hollande that the UK is facing a ‘hard Brexit’ as a potential catalyst for the move, but going through at a time when liquidity is at its weakest will have conspiracy theorists looking to market manipulation, and a fat finger trade also in the reasoning. All of this is academic now as the London market picks up the pieces, but in the 4-5 hours, we have seen Cable balancing out in the 1.2350-1.2480 range, with EUR/GBP hovering above and hold off .8900. The cross rate highs are largely accepted to have been a little shy of .9300 by consensus, but the spot rate has the more official platforms quoting the low 1.2000’s and 1.1840-45 as the lows trade. Looking ahead, we doubt the UK industrial and manufacturing production numbers will have too much impact on GBP this morning, and perhaps again after US payrolls, but we can expect to see any major moves in Cable – which will likely be the move active rate today - contained towards 1.2000 on the downside, while 1.2600-20 may cap initially higher up.
fx4btc posted: I have a slippage of 1288 pips Total trading GBPUSD . And this is just on 1 account at Tradersway. I will document more accounts through out this weekend.
The sad part about all of this is that not even the brokers are safe from these types of moves as they are the ones who are really taking the 'risk'. This is exactly what happened before with the black swan event.
What nobody is mentioning here is that the frequency of these events are increasing. Something like BREXIT or Chf is supposed to be a 10 or 15 year event. Yet we have Chf, BREXIT, Turkey, Gpb all in a very short period of time.
WARNUNG VOR HOHEM RISIKO: Der Devisenhandel birgt ein hohes Risiko, das möglicherweise nicht für alle Anleger geeignet ist.
Der Einsatz von Leverage schafft zusätzliches Risiko und Verlustgefahr. Bevor Sie sich für den Devisenhandel entscheiden, sollten Sie Ihre Anlageziele, Ihr Erfahrungsniveau und Ihre Risikotoleranz sorgfältig prüfen.
Sie könnten Ihre ursprüngliche Investition teilweise oder ganz verlieren. Investieren Sie kein Geld, das Sie sich nicht leisten können, zu verlieren. Informieren Sie sich über die mit dem Devisenhandel verbundenen Risiken und lassen Sie sich von einem unabhängigen Finanz- oder Steuerberater beraten, wenn Sie Fragen haben.
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Die vergangene Performance ist kein Indikator für zukünftige Ergebnisse.