I just know. To trade successfully, one has to be with it. I don't care what the in the know are doing, I only care what their money is doing.
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EUR/CHF wipeout/margin call ... negative balance ... what to do?
- Thread starter Pentaquark
- Start date
I just know. To trade successfully, one has to be with it. I don't care what the in the know are doing, I only care what their money is doing.
Actually wasn't the move like 1800 points. at 1 dollar per point that is 1800 bucks? Or is there something I am missing?
So my point is, people who are truely not over leveraged wont be hurt too badly.
So my point is, people who are truely not over leveraged wont be hurt too badly.
You get it didn't happen in 1 day, or 1 hour, or 1 min, it happened in 0.01seconds, your SL hit, went market order and your down 30,000pts or what ever it was, nothing you could do about it, SL can't help.
You understand even a moderate account say $1000 trading a $1 per pip on a CHF which is fine for 1K, was suddenly SL's out at -$30000 don't you ?? in 0.1 seconds right ??
It's an extreme circumstance.
Ok oh wise one. Then how did you know there were some taking positions.
I prefer to make decisions on my own. Not what other so-called "in the know" are doing. The definition of who knows what changes like the weather - on a daily basis. Everest Capital was probably included in the "in the know" crowd till - the fit hit the sham.
I agree, Hindsight being more accurate than Foresight. The Mind "backfills" memory gaps and convinces us in hindsight that somehow we "knew all along" what was going to happen. It's quite "un Swiss" for totally unplanned events of such huge consequence, but I believe "insiders" in SNB saw the huge potential for their private investors. No doubt investigations will follow over the next few months.
A "once in a decade" type of event, but clearly "Euro turmoil" is a constant risk factor which played heavily into the "pressure" building toward this specific SNB event so, in that sense, perhaps one might have had some Foresight. And yet, it continues to shock those who believe that "Swiss gradualism" should have been the way it was handled.
Good Trading !
HyperScalper
Your are missing the part where if the day traders traded $1 a point, they'd need to go claim social security for a living. It all comes down to the inability to understand the function of capital.Actually wasn't the move like 1800 points. at 1 dollar per point that is 1800 bucks? Or is there something I am missing?
On which chf related thread is the pic with the two black swans ? Just saw 2 of them today in Macau Giant Panda park, didn't even kow this park existed until recently. Kinda funny to find them in Macau, plenty of people come here and feel hit by a black swan, leaving the territory with debts far greater than what they had planned to bet.
And Joe reversed position on the chf just before the depeg ?? I thought you wrote the chf was an obvious buy a couple of month ago already ??
And Joe reversed position on the chf just before the depeg ?? I thought you wrote the chf was an obvious buy a couple of month ago already ??
http://www.elitetrader.com/et/index...wiss-currency-move.289019/page-4#post-4076601On which chf related thread is the pic with the two black swans ? Just saw 2 of them today in Macau Giant Panda park, didn't even kow this park existed until recently. Kinda funny to find them in Macau, plenty of people come here and feel hit by a black swan, leaving the territory with debts far greater than what they had planned to bet.
And Joe reversed position on the chf just before the depeg ?? I thought you wrote the chf was an obvious buy a couple of month ago already ??
And Joe reversed position on the chf just before the depeg ?? I thought you wrote the chf was an obvious buy a couple of month ago already ??
You buy and you sell and you buy and you sell. Inter-day and the grand sweep is not the same thing. My discussion on the fundamentals is unrelated to inter-day trading, at least not my style. I don't have the capital to hold purely fundamental based positions. I rely more on a just in time approach. A static position is dangerous in any case. You would make a sitting duck and they can run you to death if they so choose.
So no you can't provide info showing others knew in advanceI just know. To trade successfully, one has to be with it. I don't care what the in the know are doing, I only care what their money is doing.
Trading is about understanding risk first and foremost.Your are missing the part where if the day traders traded $1 a point, they'd need to go claim social security for a living. It all comes down to the inability to understand the function of capital.
So no you can't provide info showing others knew in advance
Trading is about understanding risk first and foremost.
Prepositioning occurs on all market moves. This instance is no different. Prepositioning requires foreknowledge, therefore they knew. I am not a trainer. So it's not my job to tell you where the prepositions are. But if you stare at the charts long enough, maybe one day something will click and you will see them.
Understanding risk is useless if the banks have an option to force you into an unlimited loss. The solution doesn't lie within you, it lies in eliminating that option from the banks.