I guess you're referring to the sell-off at 08.30 GMT, this was some 5 hours after the Thomas Cook announcement so my best guess is that someone (rightly or wrongly) mentioned bankruptcy and BREXIT in the same sentence making the dumb bots do wild. Germany's PMI print at that same time also contributed. Thomas Cook was no black swan, the surprise is that it didn't fold years ago. Anyway, it was a V recovery when the humans outnumbered the bots later in the day. There are and they are easy to find, the caveat is that if they are registered to do business here, they need to follow ASIC directives, if they aren't, if your money vanishes, there's nothing you can do. You are right here, Twice I had to deal with ASIC, I quickly learned that their style is to make a quick decision without too much research, then they'll hear arguments but disregard all of them from both sides. It's a cushy job at ASIC... make a decision without too much effort then sit back going through the motions and then announce the conclusion which always happens to be the same as the original decision. My take is that ASIC intention has nothing to do with protectin Joe trader (my dealings with them involving unfair practices and breaches of the client agreement went nowhere), the decision is aimed at stamping-out CFDs and other derivatives, probably at the request of the ATO... forcing traders to go through established exchanges that have the duty of disclosure to the ATO thus increase tax revenue. Having said that, do submit your objections to ASIC as NotKnown is doing, you never know, it migh help.
Yes the selloff and yes I expect your right lol I don't care about there being nothing I can do in such an instance. I withdraw as often as necessary to keep a minimum to trade. All cumulative designer slippages and potential shenanigans are a bigger concern though. yes I have filled out one questionnair by deliotte already..although only canned options where allowed as answers though.
The circus in the US continues, the matter revolves around one of their own so in the frantic rush to impeach Trump, the Democrats are cutting off their nose to spite their face. Trump is too smart to leave evidence against him lying around.
Since taking over the house, Pelosi has done nothing but devote her's and the house's energy and resources in putting spanners in the cogs of all of Trump's initiatives and in trying to find an impeachable action were none exist. The Democrats are sore losers, trying to reverse the result of a democratic process, yet they are justifying their actions in the name of democracy. Muller was very thorough in his investigations, then announced that there was no American collusion, he was wrong, the people that commissioned the investigation are American and are colluding to reverse a decision reached by a democratic process, he misses that point... Shameful conduct which markets are seeing-through it, her latest announcement that "Trump will be impeached" had a negligible effect on the markets... no reaction even from the bots. The looser in this latest shenanigan is Biden, one of their own.
Markets had it priced in. 15% down from tonight, to right about at the end of December. Q4 2018 all over again.
In consideration for the bulls amongst us, I won't use the words "I hope so", however, I am ready for a repeat of Dec18 Q4, I'm heavily net short just waiting for the sell-off... I even boosted my account with an extra $200k so I can go heavily long at the bottom... been waiting a long time for this.
Just leave it to me to move mountains with 3 long MNQ. I have such ultimate power at my fingertips. I will destroy anyone who gets in my way. Short the hell out of it! rAr!
You could short too if your broker allows simultaneous opposite position, enter 3 short to hedge the longs, t/p on the shorts at the bottom then wait for the recovery and t/p on the original longs. I do expect a fairly quick recovery