Oanda clears negative CHF balances
- Thread starter blakpacman
- Start date
I wonder how many retail traders taking these bailouts supported the bank bailouts in 2008.
They shouldn't have traded that big. Those retail traders wouldn't give their profits to a losing counterparty.
This is real life - not a video game. There is no such thing as a "move so extreme it shouldn't never really happen"
This is real life - not a video game. There is no such thing as a "move so extreme it shouldn't never really happen"
Nobody expects a move that big EVER, once in 10 years maybe, most of us are just hobby playing and don't for 1 minute think they can not only blow there little account but get into huge debt in seconds.
Never traded a CHF position I don't think, wasn't affected direction, indirectly Margin reduced to 50:1 from 200:1 ( not a bad thing currently ), FXCM nearly forced out of business so account frozen and no cash available for a few months maybe!
Others have lost there accounts maybe there money from Alpari, without being in at this time even.
didn't even have to be that big, a 100SL trading small and safe, took 20x's the hit, as a 10SL kinda guy I'd of taken 200x's the hit.
Never traded a CHF position I don't think, wasn't affected direction, indirectly Margin reduced to 50:1 from 200:1 ( not a bad thing currently ), FXCM nearly forced out of business so account frozen and no cash available for a few months maybe!
Others have lost there accounts maybe there money from Alpari, without being in at this time even.
didn't even have to be that big, a 100SL trading small and safe, took 20x's the hit, as a 10SL kinda guy I'd of taken 200x's the hit.
Leverage is the Siren luring traders with the promise of riches and greatness. She is most effective in shipwrecking traders' margin accounts, continually luring them back again and again. Only the rare Odysseus can sway himself from the seductive and dangerous proposition offered by leverage.
However, most seafaring passengers are not so lucky, as evidenced by the flotsam and jetsam regularly seen floating in the financial waters.
Screwed with it, screwed without it!
Even I have reduced my CFD Margin to 50:1 ( FX was reduced for me ), but I'm going to use that right to the limit
RE: Oanda clears negative CHF balances
What happens in this case? You have two traders that had an identical long EUR/CHF position that incurred a $20,000 loss.
What happens in this case? You have two traders that had an identical long EUR/CHF position that incurred a $20,000 loss.
- Trader 1 had an account balance of $2,500.00 and was using up most of his margin.
- Trader 2 had an account balance of $20,000.00 and was using a small fraction of his margin.
- Trader 1 ends up with a negative balance of about $17,500
- Trader 2 ends up with a negative balance of about $0.00
RE: Oanda clears negative CHF balances
What happens in this case? You have two traders that had an identical long EUR/CHF position that incurred a $20,000 loss.
- Trader 1 had an account balance of $2,500.00 and was using up most of his margin.
- Trader 2 had an account balance of $20,000.00 and was using a small fraction of his margin.
Oanda decides to clear the negative balances, but not cancel the trades. Trader 1 got lucky, but Trader 2 gets shafted.
- Trader 1 ends up with a negative balance of about $17,500
- Trader 2 ends up with a negative balance of about $0.00
So what your saying is GO hard, hammer that margin and use FXCM cause they guarantee no negative balance from the get go, so negative balance never an issue to me
Sucks for both, they both lost there account, just cause the value is higher, don't automatically assume that the worth to the trader is more.
my 5K+ of current, has been hard won, had to fight for it, where as someone with 20K might just of put it in for a play and might mean nothing to them. ( or hard fought ofcourse )
Absolute DisgraceRE: Oanda clears negative CHF balances
What happens in this case? You have two traders that had an identical long EUR/CHF position that incurred a $20,000 loss.
- Trader 1 had an account balance of $2,500.00 and was using up most of his margin.
- Trader 2 had an account balance of $20,000.00 and was using a small fraction of his margin.
Oanda decides to clear the negative balances, but not cancel the trades. Trader 1 got lucky, but Trader 2 gets shafted.
- Trader 1 ends up with a negative balance of about $17,500
- Trader 2 ends up with a negative balance of about $0.00