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  • Originally posted by fxturtle View Post
    Why is Nick's account with Kili EC stops at 1.2003 honored? They are on the same broker.

    http://www.myfxbook.com/members/Nick...alscom/1097372

    Cheers,
    FxTurtle
    The question is "why no stop?" and it should trigger at whatever price. The thing is, the trades are on-going is because there is no SL hidden or not and SL is for such event. People are living in false hope now, hoping that price will return which may not or may not even pullback. The last time Swiss did that, if anyone knows was 3 years ago.....when they peg e/chf to 1.2.....is not a matter of overvalued or whatsoever, because market is always right.

    Comment


    • Vijay, I have two questions to determine my position vs. my broker.

      1. Was there a stop on your master account on the Buy NZDCHF at 2015/01/14 06:39:35. So that stop should have been issued through ST but not honored? Or was there no stop?
      (If there is a stop, that would make this the same situation als with Kilimanjaro. Of not, then it's different: positions intentionally left open.)

      2. The other two open trades have been opened after the disaster: Buy NZDCHF and Buy USDCHF, on the master both at exacly 2015/01/15 09:30:53. On my account later, with a very bad fill, at the top or even above the candle.
      What are these two trades? Were they open orders? At what level?

      Comment


      • Sensor, there is no SL indicated and your broker would not show that so there is no case for that. For TA and Kilim, they have stops reflected clearly but the key factor is whether you copy the SL on your broker. If your broker shows those stops, you have a case for the broker to fulfill the stops.

        The thing is, Smart trader do not have stop reflected or not even hidden SL at all, thats why trades were not closed then. If there is one and he obey his own DD level, the SL (hidden in this case) would have been taken.

        Comment


        • Anyone following this signal knows it trades without SL. There is literally nothing that can be done in this situation. You would of got stopped around about this price on UF and NF if there was a SL or if there was drawdown protection in place. This is not normal circumstances and should not be treated as so.

          We all got screwed by the SNB and a lot of us that got MC by our brokers. Lets just see how this week plays out. Good luck to all.

          Comment


          • Hey Guys,

            i want to share some of my thoughts here

            I want to hold the existing trades for few days or weeks, depending on how the market plays out. SNB has been protecting the level for 3 years now and i am sure they dont like the current levels. We are in USDCHF and NZDCHF, USD being the top performer offlate. NZD has been fundamentally strong too. Couple with this, SNB wants what we want too i.e lower CHF levels. They are heavily dependent on the exports, so a higher CHF value affects the economy a lot. Once everything settles down, SND will try to talk CHF down, they will atleast say, CHF is overvalued and they want to see the levels at x.xxxx, that itself will give us some momentum. Apart from that we have a negative interest rate on CHF, that should give some motivation for big players to buy NZDCHF, which will be very good long term buy. These are just my thoughts. I may take another trade in couple of days, i am waiting to see what ECB does on QE program which is scheduled on 22nd January. i am expecting a 50% recovery, as it was a panic move and SNB will come up with something sooner than later. If everything works as expected i am ok to take a loss around 10% and get out of this problem and rebuild the account.

            i wish all of us some luck as well.
            Trade the market, not the trader

            Comment


            • I second!
              Swiss economy will suffer alot on a strong currency. Out of my view there must be high pressure on the SNB out of nation economy to get to an acceptable level not to kill their exports and stocks.

              Nobody involved in Forex has this crystal ball which will tell us the direction of the market yet, but I believe that SNB will intervene after the first shock to get to an acceptable level for their currency.

              That said I want to thank you Vijay for being patient and looking to find an escape path and not going with the "normal" emotional direction that might come into mind in first place.

              ESG

              Originally posted by SmartTrader View Post
              Hey Guys,

              i want to share some of my thoughts here

              I want to hold the existing trades for few days or weeks, depending on how the market plays out. SNB has been protecting the level for 3 years now and i am sure they dont like the current levels. We are in USDCHF and NZDCHF, USD being the top performer offlate. NZD has been fundamentally strong too. Couple with this, SNB wants what we want too i.e lower CHF levels. They are heavily dependent on the exports, so a higher CHF value affects the economy a lot. Once everything settles down, SND will try to talk CHF down, they will atleast say, CHF is overvalued and they want to see the levels at x.xxxx, that itself will give us some momentum. Apart from that we have a negative interest rate on CHF, that should give some motivation for big players to buy NZDCHF, which will be very good long term buy. These are just my thoughts. I may take another trade in couple of days, i am waiting to see what ECB does on QE program which is scheduled on 22nd January. i am expecting a 50% recovery, as it was a panic move and SNB will come up with something sooner than later. If everything works as expected i am ok to take a loss around 10% and get out of this problem and rebuild the account.

              i wish all of us some luck as well.
              Last edited by ESG; 01-19-2015, 07:23 PM.

              Comment


              • Originally posted by SmartTrader View Post
                Hey Guys,

                i want to share some of my thoughts here

                I want to hold the existing trades for few days or weeks, depending on how the market plays out. SNB has been protecting the level for 3 years now and i am sure they dont like the current levels. We are in USDCHF and NZDCHF, USD being the top performer offlate. NZD has been fundamentally strong too. Couple with this, SNB wants what we want too i.e lower CHF levels. They are heavily dependent on the exports, so a higher CHF value affects the economy a lot. Once everything settles down, SND will try to talk CHF down, they will atleast say, CHF is overvalued and they want to see the levels at x.xxxx, that itself will give us some momentum. Apart from that we have a negative interest rate on CHF, that should give some motivation for big players to buy NZDCHF, which will be very good long term buy. These are just my thoughts. I may take another trade in couple of days, i am waiting to see what ECB does on QE program which is scheduled on 22nd January. i am expecting a 50% recovery, as it was a panic move and SNB will come up with something sooner than later. If everything works as expected i am ok to take a loss around 10% and get out of this problem and rebuild the account.

                i wish all of us some luck as well.
                Thanks ST for the update but the path u took is similar to DF's. Is not the first time I see team traders getting attached to their basket which in the end gets even higher DD. Thanks to your EA and IC's bad tick I got MC on my main account even though I was running 1x risk. Now I'm just sitting, watching, hoping for some resolution of this issue but if those trades were still open and my account were 50%DD I'd have closed without even blinking. Past experiences (Silent Spec, JohnPaul, DF) thought me that the path u decided to take is the path to disaster.

                Comment


                • Originally posted by cris47 View Post
                  Thanks ST for the update but the path u took is similar to DF's. Is not the first time I see team traders getting attached to their basket which in the end gets even higher DD. Thanks to your EA and IC's bad tick I got MC on my main account even though I was running 1x risk. Now I'm just sitting, watching, hoping for some resolution of this issue but if those trades were still open and my account were 50%DD I'd have closed without even blinking. Past experiences (Silent Spec, JohnPaul, DF) thought me that the path u decided to take is the path to disaster.
                  How many pips they sustained cris? DF and silent couldnt tolerate a 200 to 300 pips moves. My account is still not blown with a massive fall that was unprecedented. Ofcourse its a sad situation to be in, but its not a trading fault, thats what i believe. There is no point in closing at 50% level. i would have if i think we may not recover. Whole country's economy is dependent on CHF value. Its not for no reason SNB invested billions to stop CHF going up. They did by selling CHF continuously. Now they can just talk it down atleast
                  Trade the market, not the trader

                  Comment


                  • Hello Chris,

                    I would be totally with you if the trader would have been sitting on their own bad decisions over months not wanting to realize that they were wrong!
                    My view is that Vijay would have cut these positions right after the incident if he would be able to do this. But we've seen that even with SL in place accounts were blown due to the trade handling of their brokers. Only if you have been lucky in picking your broker you would have been "protected" in some way or the other.
                    Now it's time to look at the situation that is in place today. Thinking about the alternatives is the right way to handle this. This might lead to decicions taken by the follower or by the trader. As the personnel situations are manyfold there's no general way to handle it.

                    ESG

                    Originally posted by cris47 View Post
                    Thanks ST for the update but the path u took is similar to DF's. Is not the first time I see team traders getting attached to their basket which in the end gets even higher DD. Thanks to your EA and IC's bad tick I got MC on my main account even though I was running 1x risk. Now I'm just sitting, watching, hoping for some resolution of this issue but if those trades were still open and my account were 50%DD I'd have closed without even blinking. Past experiences (Silent Spec, JohnPaul, DF) thought me that the path u decided to take is the path to disaster.

                    Comment


                    • Looking back to the last 3 trades before MC, my account needed ~18000(yes! thousands) pips to get to the current state. One would need at least 10-15 years to recover this lost

                      Comment


                      • Arrrrgh,
                        That's a really bad outcome!
                        Do you think you migth come to an agreement with your broker even if there was no SL in place?

                        ESG

                        Originally posted by cris47 View Post
                        Looking back to the last 3 trades before MC, my account needed ~18000(yes! thousands) pips to get to the current state. One would need at least 10-15 years to recover this lost

                        Comment


                        • Vijay, the last two open trades have been opened after the disaster: Buy NZDCHF and Buy USDCHF, on the master both at exacly 2015/01/15 09:30:53. (On my account later, with a very bad fill, at the top or even above the candle.)
                          What are these two trades? Were they open orders? At what level?

                          Comment


                          • Sensor66, I noticed the same. These 2 orders were opened on my account well over a minute after the initial fall and were filled very high. My USDCHF was filled at 1.00533 at 09:31:16 and NZDCHF was filled at 0.77989 at 09:32:45. How can a broker get away with such an extreme spread....500 pips+ it looks like to me. I never even had a chance to close. I'm with FinFX and emailed them to review those trades along with another USDCHF from Tradealerter with the same issue. They are investigating. They already screwed me on the adjusted Kilimanjaro EURCHF closes, so I'll be surprised if I get anywhere with them. I guess I should be thankful my account did not margin call while I had no control. Such BS.

                            Comment


                            • Hey Smart, do you think we will see the same thing happen to our past NZDUSD Trades that went bad or do you think we will get a return.

                              Comment


                              • ICmarkets are even worse !
                                After I lodged a trade inquiry with them on Thursday they got back to me today and guess what ?! instead of crediting my account which has suffered an extreme loss ( -29K) they debited my account another 5k !
                                I'm taking this further and lodging an official complaint against them. Any broker that does not follow the rules, protecting their clients, offering deep liquidity should not be in business !

                                Comment

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