Smart Trader

[sanriopurin]

Press conference re: CHF to be held roughly 1.5 hours from now. Vijay needs to be aware of this!

[Big River Man]

Unfortunately we had good profit. Had we still just been trading EN rather than NF then this would not have been a problem at all. I have absolutely no idea why we started buying UF at all it musty of been the robot of Smarts. BUT my suspision is that the UF and 2nd NF trades should be quite refundable. the initial NF trade will take a massive hit still.

[ste3fan]

On finfx too. Everything frozed on chf for 1h

[DannyB]

I had a hard stop on Smarttrader 1x at 25% which was hit. So the money is definitly lost or is this still an broker issue?

[Tony Darvall]

I am not sure yet how this will work out. i just posted in my thread

Hi Guys,

We have a serious market crash going on. I know many of you are hurting right now and have had margin calls. Please try and relax while we talk with brokers and see what they are going to do about this situation.

Banks stops quoting and many brokers turned off chf. I am not sure what prices they are going to honor or do about the trades. I do know ICmarkets have misquotes for sure here on my MAMM.

Even how the interbank will deal with this is up for grabs this was just posted in the bank chatroom.

getting notifications from banks: "After the SNB announcement with regards to their floor in EURCHF there have been significant issues with regards to the level at which orders have been actually transacted as opposed to the communication by system-generated confirmations. This also applies to all USDCHF and all other CHF crosses."



I will keep you all updated as we find out more. I am as worried as all of you about the impact will have on our future.

[Isochronous]

IC Markets have insurance. This might be the sort of thing they would claim insurance for to cover client losses.

If not in the worst case scenario there's the class action option.

[bjergen]

On finfx too. Everything frozed on chf for 1h

FinFX restarted price feed and I'm close to margin call. As there were no hard SLs placed by vijay I'm not sure what FinFX will actually reimburse...

[dzafik]

Thanks for the update Vijay. I am rather interested in knowing what we are going to do about the open loss. Will you close it after all or will you leave it open for some time to see what the price is doing?

[emmanuel137]

Just been on to fxcm. They say moves were legitimate so trades stand. I am truly shafted. Cannot see how it is ever going to be possible to make any money from forex. Every provider makes money until they don't and these kind of moves will happen over and over - they are completely unpredictable. I had gone down to just ST and SS on reduced risk after catastrophic losses last year, but now this shows that nowhere is safe. Unless FXCM have a change of heart I can't see how this is anything other than the end of the road for me. If anyone else is with FXCM and has any success please do let me know!

[emmanuel137]

And I should add that my trades have been closed (not by me so am assuming by the EA/ST)

[Zoli71]

Alpari seems to be turned off CHF too. So, I unable to quit I think.
Again: I should have set a SimpleTrader hard stop to about 20%.
Question for traders: is it worth not using SL-s, even some hidden SL-s handled by an EA???

[R35]

I have two identiical accounts with Axi and IC. The IC account closed all positions, the Axi one is still open with a big draw down. Let's see how it plays out.

What was the low on FXCM?

[R35]

I wonder if Vijay is seeing this or not, as I'd like to know if we are holding the positions because he thinks that's the right thing to do or simply that he is offline...

[sanriopurin]

Question for traders: is it worth not using SL-s, even some hidden SL-s handled by an EA???

My understanding: a stop loss, when triggered, becomes a MARKET ORDER. So in this case, based on what I've seen so far, the broker wouldn't even give quotes, so I'm not sure how it will be useful.

I've seen all kinds of variations of signal provider collapses (from incompetence to arrogance to pure scam), but this truly is the first time I'm thinking of quitting forex altogether. My losses are still manageable, but what future does it hold for us retail traders if this ever happens again?

[sanriopurin]

I wonder if Vijay is seeing this or not, as I'd like to know if we are holding the positions because he thinks that's the right thing to do or simply that he is offline...

Precisely! Someone needs to wake Vijay up, NOW!! Didn't I read somewhere that someone has his mobile number??