Does anyone know what happened here?
I have attached a daily chart for EURCHF.
I observed 2300 pips movement in one day!!!
What could be responsible for such a movement in one day?!
Anyone please?
SNB Crash
Wow!!!
Thanks a bunch
Does this frequently happen and what currencies are most likely affected?
The swiss national bank quited the rule to keep EURCHF value at 1.2 and changed interest rate from -0.25 to -0.75.
Thanks a bunch!
Does this frequently happen?
What currencies are prone to this kind of crashes?
I want my money safe!
Thanks a bunch!
1) Does this frequently happen?
2) What currencies are prone to this kind of crashes?
3) I want my money safe!
1) It can happen any time just think of 9/11 ...
2) No currency, gold too
3) a) don't trade, b) trade only fraction at a broker which is regulated by an auth. of a serious country and this broker claims not to request more money from you in such a case except what has been invested: Alpari GB went bankrupt because of this! (Alpari Russia still exists).
I have attached a daily chart for EURCHF.
I observed 2300 pips movement in one day!!!
What could be responsible for such a movement in one day?!
Anyone please?
The 15th January 2015 decision by the Swiss National Bank (SNB) to revoke the cap on the Swiss Franc has sent shivers around the globe. The Euro-Swiss Exchange rate crashed rapidly, followed closely by the SMI (Swiss Market Index) share prices. This marks the end of the stability which has characterized modern Swiss economic history, and the beginning of a new turbulent period.
As result Alpari UK went to insolvency
FXCM took bailout package to survive
Peppperstone server went halt
Same happened with many other broker
The 15th January 2015 decision by the Swiss National Bank (SNB) to revoke the cap on the Swiss Franc has sent shivers around the globe. The Euro-Swiss Exchange rate crashed rapidly, followed closely by the SMI (Swiss Market Index) share prices. This marks the end of the stability which has characterized modern Swiss economic history, and the beginning of a new turbulent period.
As result Alpari UK went to insolvency
FXCM took bailout package to survive
Peppperstone server went halt
Same happened with many other broker
Interesting!
Really interesting!
What happened to the money of clients in the UK who had their money with Alpari?
I was long the USDCHF and woke up one morning to the crash. My stop loss was blasted through and I had big loss.
What saved me was I traded only a small percentage of my account in that currency pair. The value changed so radically nobody got their stop filled. What happended to the money? I gave my money to the traders who happened to be short the USDCHF. It happens periodically when big monetary policy changes occur and to a smaller extent on "news days."
This is why you only want to trade 2% or something realistic in any one currency pair or commodity.
The bigger your position, the bigger your potential loss.
I was long the USDCHF and woke up one morning to the crash. My stop loss was blasted through and I had big loss.
What saved me was I traded only a small percentage of my account in that currency pair. The value changed so radically nobody got their stop filled. What happended to the money? I gave my money to the traders who happened to be short the USDCHF. It happens periodically when big monetary policy changes occur and to a smaller extent on "news days."
This is why you only want to trade 2% or something realistic in any one currency pair or commodity.
The bigger your position, the bigger your potential loss.
So sorry about your loss!
But I wonder how one can anticipate this and avoid it.
I mean, how does one know when a "Big monetary policy change" will occur.
Did you have any hint at all to that effect?
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I have attached a daily chart for EURCHF.
I observed 2300 pips movement in one day!!!
What could be responsible for such a movement in one day?!
Anyone please?