EUR/CHF wipeout/margin call ... negative balance ... what to do?

Turveyd said:
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.
More...
And because it was an extreme circumstance somebody else should pay for it????

I understand what happened, I traded Forex several years. You trade, it is your money, it is your profit. But when it goes wrong somebody else should take the losses???

I would like to trade like that too. Can we blame IB for the crash? NO. So why should they pay.

All this was caused by the Swiss National Bank. Sue them.
 
i am nobody said:
And because it was an extreme circumstance somebody else should pay for it????

I understand what happened, I traded Forex several years. You trade, it is your money, it is your profit. But when it goes wrong somebody else should take the losses???

I would like to trade like that too. Can we blame IB for the crash? NO. So why should they pay.

All this was caused by the Swiss National Bank. Sue them.
More...

Did I say the OP shouldn't have to pay, can he afford to pay ? most likely not, this is going to force a lot of people to go bankrupt and lose everything, there house, there cars there savings, do you think that's right for a out of control circumstance in 0.01 seconds.

That's why I HOPE they come up with a sensible plan and so would you if you suddenly owed them 30K, it's in there interest as there unlikely to see 95% of the negatives anyway.

Sue the markets for being stupid enough to be able to move that kinda distance instantly, markets shouldn't work this way it's madness, happy to profit from but madness totally.
 
Of all the people to do something like this who would have thought it was the swiss.
They could have given hints that they would gradually move in this direction. They could have announced it in the weekend to give time for the markets to digest it.

It was done in the worst possible way such that even major brokers like IB and FXCM couldnt have predicted or protected against. Shameful.
 
Turveyd said:
this is going to force a lot of people to go bankrupt and lose everything, there house, there cars there savings,
More...
If this is the case it was clearly unresponsable behaviour. You should never trade with money you cannot miss. You should always keep in mind it is dangerous business. If the losses influence your normal lifestyle it means that you overtraded.
 
roberk said:
Of all the people to do something like this who would have thought it was the swiss.
They could have given hints that they would gradually move in this direction. They could have announced it in the weekend to give time for the markets to digest it.

It was done in the worst possible way such that even major brokers like IB and FXCM couldnt have predicted or protected against. Shameful.
More...

Indeed, I completely agree. It was almost criminal from the Swiss National Bank.
 
i am nobody said:
If this is the case it was clearly unresponsable behaviour. You should never trade with money you cannot miss. You should always keep in mind it is dangerous business. If the losses influence your normal lifestyle it means that you overtraded.
More...

Sorry but your an idiot/sociopath aren't you, not the first time you've been in my face pushing for a fight.

They didn't just lose there account, say 1K of play money, there position put them maybe 20K into debt, although it "Can" happen and it's part of the risks, this has only happened once in all the years I've been trading Forex.

Yes there accounts are Zero that's a given, they've lost there trading money, but being put to -20K, show some consideration man!

1 big old trader with a huge fund, reportedly lost his account being 2.9BILLION!!

They didn't over trade, they got very very very unlucky!

Happy I don't trade CHF, but if I'd of opened a short for a quick scalp, I could be 200K in debt in 0.1seconds, game over man game over, fair ??
 
roberk said:
Of all the people to do something like this who would have thought it was the swiss.
They could have given hints that they would gradually move in this direction. They could have announced it in the weekend to give time for the markets to digest it.

It was done in the worst possible way such that even major brokers like IB and FXCM couldnt have predicted or protected against. Shameful.
More...


Still if put out on a weekend, would of opened up hugely! :( maybe not as hugely though.

Maybe they didn't expect it to move this way, maybe all there mates had long positions.
 
All this talk about stops is nonsense. They work great in a vacuum, not so great when the swiss next trade is 8% higher on 2MM notional. It's meaningless unless you can trade out. You're a big boy -- cover your obligation or walk, but stop the courteous whining. Don't come on here to bitch anonymously. None of us are party to this transaction and posting internal communications between you and IB is nonsense.
 
destriero said:
All this talk about stops is nonsense. They work great in a vacuum, not so great when the swiss next trade is 8% higher on 2MM notional. It's meaningless unless you can trade out. You're a big boy -- cover your obligation or walk, but stop the courteous whining. Don't come on here to bitch anonymously. None of us are party to this transaction and posting internal communications between you and IB is nonsense.
More...

That's your opinion and I disagree, it might be handy for others to be able to read who are in the same boat, who don't want to post on a forum.
 
You must log in or register to reply here.
Back
Top