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GBP Pairs - Illiquid Market - Blown Accounts - What price did you get?
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McLeonis

Biedrs kopš May 16, 2014  12 ieraksti McLeonis (McLeonis) Oct 08 2016 at 06:59
theHand posted:
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.
It's telling you something.....

Exactly, faster cycle but same rules. Robo and auto trading, they makes these event worse. mad

bestdarngood

Biedrs kopš Nov 12, 2010  172 ieraksti bestdarngood Oct 08 2016 at 08:04
Luckily I only had a small trade in GBPUSD at the time, plus had a basket trade open so the other pairs compensated for the loss in GBP. You would think after the Swiss move a couple years ago, they would have something in place to help prevent such moves like this...

See my profile or message me for my latest EA
GJscalper

Biedrs kopš Jul 25, 2016  237 ieraksti GJscalper Oct 08 2016 at 13:35
bestdarngood posted:
Luckily I only had a small trade in GBPUSD at the time, plus had a basket trade open so the other pairs compensated for the loss in GBP. You would think after the Swiss move a couple years ago, they would have something in place to help prevent such moves like this...


  Are you kidding me? Don't you understand that it is for reasons like this that this market is not 'regulated'. You guys have to understand that this exchange is just as bad as bitcoin to invest into. Leaving a position overnight is a ticking time bomb ladies and gents. We see that so many accounts have blown but how many accounts actually profited from that move?

@GJscalper for more information
focusedfinance

Biedrs kopš Apr 04, 2010  14 ieraksti focusedfinance Oct 08 2016 at 16:38 (labots Oct 08 2016 at 16:41 )
theHand posted:
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.

It's telling you something.....


There is a difference between market volume and liquidity. Liquidity is the willingness for someone to take the other side of the trade (for example Bank X is asked to quote in EUR500million, makes the price and takes the trade without being able to offset the trade immediately.

Liquidity is falling because of;
- Regulation
- Electronic price matching
- Electronic trading and things like 'riskless' market making
- All the electronic stuff means there are fewer people in the system, and somewhat ironically it has reduced the level of tradecraft among dealers so guys and they are less able to deal with very big moves.

Things will get worse over time and the gaps will be bigger.

If you like it, buy it. If you don't sell it.
focusedfinance

Biedrs kopš Apr 04, 2010  14 ieraksti focusedfinance Oct 08 2016 at 16:59
GJscalper posted:
bestdarngood posted:
Luckily I only had a small trade in GBPUSD at the time, plus had a basket trade open so the other pairs compensated for the loss in GBP. You would think after the Swiss move a couple years ago, they would have something in place to help prevent such moves like this...


  Are you kidding me? Don't you understand that it is for reasons like this that this market is not 'regulated'. You guys have to understand that this exchange is just as bad as bitcoin to invest into. Leaving a position overnight is a ticking time bomb ladies and gents. We see that so many accounts have blown but how many accounts actually profited from that move?


Regulation is not the issue. Your perception of how the market works is incorrect. The Tickmill chart with a 1.14 low is not incorrect. Apparently some bank trades went through at those levels.

6% is not that big move. In the late 1990ies I traded a 75% devaluation in one day. Yes. 75%! It was the Zimbabwe Dollar. No algos or fancy stuff. No real news even (other than economic fundamentals). To this day I can't put my finger on the cause of the move other than concern turning into worry turning into panic. To top it off ZWD was an exchange controlled currency so theoretically there was no speculation. What I can tell you is that in 3 hours or mark-to-market losses were roughly 1 year's worth of the dealing desk budget. And interestingly enough it happened on a Friday.

If you like it, buy it. If you don't sell it.
exnessdubai

Biedrs kopš Sep 25, 2016  8 ieraksti exnessdubai Oct 09 2016 at 06:27
i have a good trading system,it will give 30-200% profit, but opposite move in single candle is only one issue for my system,how can i rectify this?

we can stop trade during news time.it is expected one.but unexpected move???

any idea?

pwnsweet

Biedrs kopš Dec 21, 2015  1 ieraksti pwnsweet Oct 09 2016 at 06:41
McLeonis posted:

I remember that moment, very big move. And many other I went through.
Still, i survive and make profit from that. Smart investors will win. grin


A 50% move in a tick is not something you can predict. How smart you are has nothing to do with it.

pwnsweet@
heisenberg102030

Biedrs kopš Dec 06, 2013  3 ieraksti heisenberg102030 Oct 09 2016 at 06:56
I've read terrible stories of people that lost hundreds of thousands with relatively small accounts that day of the CHF crash.
To me it is imperative to trade using a corporation account in order to limit the damage in case something goes really funky,otherwise you are risking your house . Do some math.Even a few lots trades can be disastrous with a drop of that entity.

Kingace

Biedrs kopš Dec 20, 2014  13 ieraksti Tony Ekwemuka (Kingace) Oct 09 2016 at 07:37
I was having a 33% DD with _1% loss on my account until the GBP move, Now i have closed all open trades with +11% profit.......So i can safely say that i benefited from the move.smileycool



Proverbs 22 vs 29
McLeonis

Biedrs kopš May 16, 2014  12 ieraksti McLeonis (McLeonis) Oct 09 2016 at 11:02
pwnsweet posted:
A 50% move in a tick is not something you can predict. How smart you are has nothing to do with it.

I can smell the crash. Same rules but different period. twist

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