fully agree...not what we need and it would also be VERY costly for the Chinese to now pull out. They know it very well hence no strong rethoric on their end. But talk is now intensifying to kill the USD as an official reserve currency. BRICs are starting to flex their muscle...then Russia moving closer to Opec.....all points to the intention to replace the USD over time....truely the only alternative to the USD I see is a new currency backed by real assets but then why not going back to gold because thats exactly the same thing unless I am missing something.
the slippage issue is in my opinion pointless...the announcement came out, you either had exposure or yo did not. If you had and had a stop loss in place and it was triggered then you would have gotten filled with 99% probability at the first breather the market took after the news came out which I saw as an average 200pips away from the point it was prior to the news. So, why discussing slippage here? Why I say 99%? Because maybe only very big players would have gotten the chance to get a fill somewhere in between either buy or sell and some retails sometimes gets squeezed in, lucky for those 1%. But generally, dont count on it whatsoever.
sounds like you trade with a bucketshop and they profited handsomly from most retail trading during that news release. But to be honest I think even having traded on an ECN would have still handed you a loss of min 200pips, given you had exposure. But why I reply is that I laude you on your trade after the news. Most dont have the balls, thinking it must reverse (most probably dont even grasp the impact and situation in such short time anyway). Yes they may gain a few pips but if they are not ultra vigilent they will get killed big time. I went short USD vs 6 currencies a few hours later most trades are still on (I took off the GBPUSD long because I felt the move was exhausted). But I look to re-enter for sure because I think there is lots more of USD weakness to come.
lol, they should rename this thread the bullshitters thread Toooo funny.... Anyway, have none of you ever heard of guaranteed stops? They're made for situations like that one!
If your alive just say moooola. There must have been some real carnage yesterday in the FOREX corner. ############################## Author was participant by paper money month contest with price 5000$ account . Maximum margin 1:100 short usd/chf at 1.1850 some days before Have a wish go short by 1.1900 ,but contest platform was not opened sunday . Suspected that week before usd/chf going up from 1.1450 until 1.1940 was only deceptive tactic of great player's against crowd multiple average up .Performed 340% After that have made heavy error - Author belivied , that after 1.1450 would reaction .Entry in position long .Have multiple chance to close position ,but not made that Loosed all . In last 9 years it was most heavy usd selling in this short time . Not the problem .Author not played with real money ,with exception of prize money ,which won in paper game contest with real money prize . And essentialy not interessed in forex live account . Best wish http://www.youtube.com/watch?v=PNAxjeaT0Kk