When The Screens Froze: Black Swan Day through Traders’ Eyes
While the news of the day no doubt focused on the looming finality surrounding key brokers, traders were also broadly
While the news of the day no doubt focused on the looming finality surrounding key brokers, traders were also broadly affected by the snap SNB decision – did you strike it big, forget to place a stop, or consumed by greed?
Everyday traders are the lifeblood of the FX industry, with Thursday and Friday being days like any other, with one notable exception – utter pandemonium reigned throughout the day with markets closed to CHF trading or worse, absolute darkness.
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
Forex Magnates would like to know how you did or what your experience was like during these trying times. While some made small fortunes, others found themselves on the wrong side perhaps losing their entire accounts. Written below are a few testimonials:
“No surprise that traders got hit hard yesterday, I got hit hard, but I will recover, I just didn’t like the actions by brokers…I usually don’t write anything, but this is enough…”
–Viktorija
“I am a trader and I do make living out of this. Meta Trader didn’t work, couldn’t connect to server, if it could connect – you couldn’t close orders or open new ones, not even on EURUSD or other trading instruments… (sending “off quotes” phrase) you just couldn’t do anything there. In order to close trades, for their support it took 3 hours…”
-Brian
Suggested articles
Viberate Teams Up with Blockparty to Deliver World’s First Live Event NFTGo to article >>
“The worst thing was that their stop losses didn’t work, orders weren’t closed. The prices passed by the stop loss and losses continued to grow!!!!”
-Erwin
“Made a total killing on my EUR short positions. Would hate to have been longing the USDCHF”
-Joao
“How can this even be legal…cannot close this order for hours and watching myself rescindd hard earned ground”
-Joseph
“Forgot to place my stops, now my account is basically at 0”
-Victor
I was expecting a breakout. Hell of a breakout indeed.
The Mr Monopoly broke image was a nice touch. Was trading with a client at IntegrityFX (dubai). Was not in any CHF position, but noticed AUD, GOLD, and other markets suddenly became volatile. I checked forexfactory to see if there was any news and saw that the Swiss had an announcement. I didn’t think much of it until I looked at the USDCHF pair and I couldn’t believe it. I thought it was a bad tick. No freezes in the platform, they offer 1:100 leverage max across all pairs. Also had a test account running at XM and Exness. No… Read more »