How often do the currencies move this fast?

Seems rather insane to me. I'm a very new forex trader?

Based on charts, it seems like most forex moves are slower trends. How often does forex move like this? Once every few years or so maybe?

Btw, I'm definitely not complaining, but I just want to know how typical these moves are. Thanks for your help.

Greg

 

Look at AUDJPY wkly chart; same thing happened last year, it can get very wild.

 

When everyone rushes to the exits - which is what you have now in the short dollar trade - you get these time of mass moves. But it's not very often that it happens. You don't see moves like yesterday and today all the time.

 

Just off the top of my head this has to be the biggest or one of the biggest moves in the euro since i've been watching markets (late 2000) it was down over 3 handles earlier today.

 

I was just thinking that, and it was around the same time, August. Less volume during the holiday season maybe?

Gbp/Jpy fell 2,475 pips in a week, nice if you were short but unfortunately I wasn't

 

After it broke 1.5300 I stayed up all night because I knew it was going to be ridiculous.

 

word is 97% of all forex traders are making money on this move. I know you're among them

 

I started live trading on a new strategy just a week or so before that move last August, I think that event happened during my 2nd trade so I was watching things very closely as it was a new setup. I remember looking at the charts mid-meek and my gut reaction was my data provider was having errors. I PMed a few Australian friends to see if there was anything in the news, they said not really lol. My strategy was in the right direction (anti-carry trade for that month) but my risk-management + profit target limited my upside which is fine. It was definitely a good test of my discipline, to remain calm and follow the written strategy, risk control, not get greedy etc, I just wasn't expecting it my 2nd trade lol. You got to be prepared for anything, just shows (imo) how import risk control, preparation for fat tails/black swans etc is. Being on the wrong side is fine and common but you need a plan to live another day even for these once per year/decade events.

 

Euro traded like the GBPJPY today: long, smooth and volatile...

Be great if everyday was like today!

 

Who, me? I was probably the only sucker taking the other side of their trades! You know what they say, every dog has his day

Nah, conditions like this scare the crap out of me, I'm staying sidelined until their billy whizz wears off!

Heck, if only I'd followed my own advice back in April