I have never seen such movement in my life. I really feel for the carry traders. I hate to say this but i have never had profitable trades like the ones i have on aud, nzd in my whole trading career. This movement is just astonishing. The only fear is that we see a shit load of consolidation come next year. I feel like i am seeing a movie. The mxn and rand are really getting hammered as well.
nobody is making a decent market in anything, this has gotten ludicrious. bucketshops have got to be getting killed tonight.
They have most probably trippled the spreads. This high volatility is really hit the carry trades hard!
lol, makes a change! Bucketshops are great, the best! Oanda, ya gotta luv 'em, narrow spreads and instant fills God Bless 'Em 248 pips in around 3 hours.... ~ ~ Oanda vs Barx, check out Cable spreads..... ~
How is oanda liquidity on usd/czk, huf, skk and pln? My brokers liquidity has completely dried up on these pairs.
Not sure as I don't trade any of those but I seem to remember someone saying they'll fill pretty much anything up to 7mio, although the spreads may be quite wide! I've had no problems getting orders filled for 3mio when I've closed a few 500k trades at once, mind you that's on the majors. When you say dried up, what are you seeing? Usd/Jpy is like it's on elastic today, boing boing....
by dried i mean that there are no qoutes. Yes, all the carry currencies responded to the co-ordinated interest rate hikes, i guess the central banks showed they are serious about trying to avoid a recession and manage the crisis. The real question is that, at the end of the day, is it enough?
I think you meant cuts but I got it. Is it enough? I don't think so, and more's the point neither does the market by the look of it, no-one is convinced. From a trading perspective the volatility is a bonus, but I guess that's a selfish approach. Ah the hell with that, every man for himself I say trackstar, tough day and it happens to us all, but I guess you already know that. When I have a bad day/week/month I look at it as just a short-term loan to the market, the money's coming back to me soon.....with interest
So is the life of a trader, its like being a boxer, can't expect to box and not let a couple of hits slip through. If you end of this year with a 10-15% drawdown, i would say good job, considering the market. My year only turned positve in july, it was six months of being underwater when everyone was putting up great numbers but the market has moved my way and from here on till december i more or less know that my i will be up for the year, hopefully above 30% and nothing less. Cabletrader, i actually did mean rate cuts.......lol.