EUR/CHF Stops on SNB day ?

E

EURCHF

Thanks for helping out folks.
I got hit hard on that fateful day.
I would be interested to learn from some of you that also got caught in that long EUR vs CHF trade and were stopped out.

- What was your broker? (particularly interested in any stops by Interactive Brokers)
- What was your stop level?
- What size were you stopped out of
- what fill did you get

I am most interested in actual FX stops rather than futures markets stops. But all info is fair game and much appreciated.

I can be directly reached at:
ib.snb.eurchf@gmail.com

Or just post here for everybody to gain knowledge from your stop experience.
 
just curious, why would anybody be long eur.chf back then. I know a lot of scalpers were buying it below the peg and selling it above, just like taking candy from a baby, but other than that, what possible outlook could anybody have that would make them trade a pegged pair which only could get unpegged. I mean it's not like they could peg it even more. What were they hoping for? Sorry if I am off topic, I'll let you get back to work now. Not trying to rub it in, I'm usually on the losing side so I know how it feels. But after the peg broke I traded eur.chf from the short side entering both on trailing stops and using trailing stop loss orders, and they were crazy. I was using 100 pip increments and would get filled on the entry almost immediately and then get stopped out at a profit a few seconds or minutes later. It seemed like it was moving 100 pips/min both ways. I was constantly getting capped, and there was a window which asked if I wanted to cancel or continue, but before I could even completely read the window I would get filled. Good luck getting it all straightened out.
 
loyek590 said:
just curious, why would anybody be long eur.chf back then. I know a lot of scalpers were buying it below the peg and selling it above, just like taking candy from a baby, but other than that, what possible outlook could anybody have that would make them trade a pegged pair which only could get unpegged. I mean it's not like they could peg it even more. What were they hoping for? Sorry if I am off topic, I'll let you get back to work now. Not trying to rub it in, I'm usually on the losing side so I know how it feels. But after the peg broke I traded eur.chf from the short side entering both on trailing stops and using trailing stop loss orders, and they were crazy. I was using 100 pip increments and would get filled on the entry almost immediately and then get stopped out at a profit a few seconds or minutes later. It seemed like it was moving 100 pips/min both ways. I was constantly getting capped, and there was a window which asked if I wanted to cancel or continue, but before I could even completely read the window I would get filled. Good luck getting it all straightened out.
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Hindsight is always 20/20.

:)
 
OTM-Options said:
The same reasoning a trader has with any long position. An expectation that it goes up.



:)
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but what was the expectation? How in the world could the eur appreciate against the chf? What possible explanation could anybody have?
 
loyek590 said:
but what was the expectation? How in the world could the eur appreciate against the chf? What possible explanation could anybody have?
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The EUR could just as easily have appreciated against the CHF, nobody knows in advance how the market will react to news - the markets are irrational. But hindsight is very powerful, it gives a sense of the event been predictable.

Your posts to this thread are good examples of Hindsight Bias. http://en.wikipedia.org/wiki/Hindsight_bias




:)
 
OTM-Options said:
The EUR could just as easily have appreciated against the CHF, nobody knows in advance how the market will react to news - the markets are irrational. But hindsight is very powerful, it gives a sense of the event been predictable.

Your posts to this thread are good examples of Hindsight Bias. http://en.wikipedia.org/wiki/Hindsight_bias




:)
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I'm not saying nobody knows, I'm asking why anybody would anticipate? Your posts are good examples of a guy who doesn't know shit about forex and tries to relegate all that which he doesn't understand to religion.
 
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