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.
but what was the expectation? How in the world could the eur appreciate against the chf? What possible explanation could anybody have?
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
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.