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chf crosses
- Thread starter jj90
- Start date
Swiss franc appreciated at some point over 40% vs Euro. I have never seen such in my long career in currency markets. Incredible.
-29% eur/chf. -40 points ES same time. I traded thru 08 and the flash crash, thought I saw it all...
Yep, and IB capped the orders... I'm long a bunch of RF (EURCHF) futures, noticed the mess and tried to sell eurchf starting at 1.05 but tws capped the orders and they didn't go through, several times, than platform froze (had to change computers 2 times after it froze). EURCHF around 0.85, than I sold some euro stocks to free up margin. Ugly.Sold about 80% of the futures value at 1.0088 average.
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I got big profits in cad/chf short. But my bucketshop suspended the market and refused to respond to queries. I guess next they will declare bankruptcy for taking the other side of people's bets.
there was hardly any Liquidity at LMAX as well, it recovered some after the pair came back. I failed to pick up anything but then I am ok with that, I do not like to trade such high vol moves..
Yep, and IB capped the orders... I'm long a bunch of RF (EURCHF) futures, noticed the mess and tried to sell eurchf starting at 1.05 but tws capped the orders and they didn't go through, several times, than platform froze (had to change computers 2 times after it froze). EURCHF around 0.85, than I sold some euro stocks to free up margin. Ugly.Sold about 80% of the futures value at 1.0088 average.
Wooo Woooo, got my profits out. I am going the other direction now.
there was hardly any Liquidity at LMAX as well, it recovered some after the pair came back. I failed to pick up anything but then I am ok with that, I do not like to trade such high vol moves..
Well, tws was showing quotes on eurchf, but it wouldn't let my orders go through, it just capped them ABOVE the offer. There are a couple of threads about the order capping from tws, it feels nasty indeed when it happens. Had my orders above 1.05 gone through, the loss would have been less painful. Besides that's my second swiss related large loss since December, I might give the country a break for a while...
The only bright side is there were no quotes on the RF futures, hence account nav didn't crash as fast as the euro
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I am short some in usdjpy and keep it running with stop loss at entry (117.3x levels). I believe there will be some nasty fallouts from this. Margins will be adjusted, lots of margin calls, tons of trade settlement disagreements, some funds may have gone literally bust through this. THis is some nasty move we have seen here...
I havent traded it but this is how the GBP bust must have looked in the early 90s. Those guys who collected short vol premium for years from the EURCHF floor now realize the nickel finally met the steamroller.
even the pound bust pales in comparison to this, but fair comparison
I havent traded it but this is how the GBP bust must have looked in the early 90s. Those guys who collected short vol premium for years from the EURCHF floor now realize the nickel finally met the steamroller.