International markets traders banter

[waterbottle]

FXCM is now in trouble as well.....

I've taken no chances and cleaned out my brokerage accounts...

CanOz

CanOZ are you referring to IB?
They plan on increasing margin requirements for any instrument that is CHF exposed. It seems that the only brokers to have gone under are those that are FX-specific. Even then, not all FX brokers have closed.

 

[skc]

Crazy night. That's what happens when a synthetic market is made (CHF pegged) and then natural forces takeover.

It's been described as an FX tsunami.... I think it's more like the SNB blowing up a dam (to the surprise of everyone downstream).

I had a pairs trade going long CSL... took some damage there.

 

[waterbottle]

CanOZ are you referring to IB?
They plan on increasing margin requirements for any instrument that is CHF exposed. It seems that the only brokers to have gone under are those that are FX-specific. Even then, not all FX brokers have closed.

Zerohedge is reporting a run on two of Greece's banks. Their source is a Greek newspaper (http://www.ekathimerini.com/) although it has pulled the article. Relevant sections from zerohedge are below:

Two Greek systemic banks reportedly submitted the first requests to the Bank of Greece for cash via the emergency liquidity assistance (ELA) system on Thursday, in response to the pressing liquidity conditions resulting from the growing outflow of deposits as well as the acquisition of treasury bills forced onto them by the state.



Banks usually resort to ELA when they face a cash crunch and do not have adequate collateral to draw liquidity from the European Central Bank, their main funding tool. ELA is particularly costly as it carries an interest rate of 1.55 percent, against just 0.05 percent for ECB funding.



The requests by the two lenders will be discussed by the ECB next Wednesday.



Bank officials commented that lenders are resorting to ELA earlier than expected, which reflects the deteriorating liquidity conditions in the credit sector.



Besides the decline in deposits, banks were dealt another blow on Thursday with the scrapping of the euro cap on the Swiss franc. Bank estimates put the impact of the euro’s drop on the local system’s cash flow at between 1.5 and 2 billion euros.



Deposits recorded a decline of 3 billion euros in December – a month when they traditionally expand – while in the first couple of weeks of January the outflow continued, although banks say it is under control.



A major blow to the system’s liquidity has come from the repeated issue of T-bills: In November the state drew 2.75 billion euros in this way, in December it secured 3.25 billion euros, and it has already tapped another 2.7 billion in January. Of the above amounts, a significant share – amounting to 3 billion euros according to bank estimates – was in the hands of foreign investors who will not renew them, so they have to be bought by the Greek banks.



Local lenders had also resorted to ELA in 2011 to cope with the outflow of deposits and consecutive credit rating downgrades of the state (and the banks) that made Greek paper insufficient for the supply of liquidity by the Eurosystem. In May 2012, due to the uncertainty of the twin elections at the time, local banks drew 124 billion euros in ELA to handle the unprecedented outflow of deposits.

 

[waterbottle]

Alpari UK now insolvent due to CHF volatility

 

[waterbottle]

Interactive Brokers records $120 million dollar loss due to CHF volatility
Price was down 6.8% at the time of the press release.

 

[ThingyMajiggy]

Seems to have officially died in the bottom around here lately regarding futures trading etc. Anyone out there still having a go? Or you all sailing around in your yachts still?

 

[avion]

The only sailing i do is in a bath tub... :bath:

How r u going TM?

 

[ThingyMajiggy]

The only sailing i do is in a bath tub... :bath:

How r u going TM?

EDIT: ahh nevermind you updated it haha

Yeah I'm going good, still trading away on the DAX when I can, going to watch replays of the market and record turning points and key moments so I can just watch back those moments, might help get my eye in more at the key times what are you trading av?

 

[avion]

Still plugging HSI, i am the stage where i have 8 consecutive winning days only to blow it in 2 days. Now if i could take those two days off somehow...:dunno:

BTW, today is one of those days... :bonk:

 

[ThingyMajiggy]

Still plugging HSI, i am the stage where i have 8 consecutive winning days only to blow it in 2 days. Now if i could take those two days off somehow...:dunno:

BTW, today is one of those days... :bonk:

Tried a daily stop limit? Like down a grand and you stop type thing. So easy to do with these fast markets though hey, can move so quick either way and you're day can be stuffed before you know it, or vice versa

 

[avion]

Tried a daily stop limit? Like down a grand and you stop type thing. So easy to do with these fast markets though hey, can move so quick either way and you're day can be stuffed before you know it, or vice versa

Ah, but that would take a disciplined trader..., none of that here, just a pure emotion. Knowing myself, trading is about the worst profession i could of picked for myself. And yet i think i may succeed exactly because of it... you know, push yourself out of the comfort zone, etc. Bring it on!

Are you trading full time or still have a day job?

 

[cynic]

Seems to have officially died in the bottom around here lately regarding futures trading etc. Anyone out there still having a go? Or you all sailing around in your yachts still?

Yes!

I've been cruising on the SS (So Short) DAX Titanic as it sailed straight into a 1.1 trillion QE iceberg!

 

[avion]

Yes!

I've been cruising on the SS (So Short) DAX Titanic as it sailed straight into a 1.1 trillion QE iceberg!

That sucks cynic! How come you are holding overnight, are you trading cfd's?

 

[ThingyMajiggy]

Ah, but that would take a disciplined trader..., none of that here, just a pure emotion. Knowing myself, trading is about the worst profession i could of picked for myself. And yet i think i may succeed exactly because of it... you know, push yourself out of the comfort zone, etc. Bring it on!

Are you trading full time or still have a day job?

Haha know the feeling, high of highs and low of lows this trading business

Yeah still got a part time job, its early rise early finish so most of my day is free, should actually look at some Asian markets more, but the DAX is my baby, I know it better than any other market and its at a pretty good time to trade, although I do miss the US trading session as I have to goto bed early for early rises for work

Haha hasn't the DAX had an insane 2015 so far cynic! It's really gone mental, never thought a couple years ago when it was around 8000 or something that I would see it up here this quick.

 

[cynic]

That sucks cynic! How come you are holding overnight, are you trading cfd's?

My strategies are predominantly inter day rather than intra day and yes I am CFD trading.

 

[cynic]

...Haha hasn't the DAX had an insane 2015 so far cynic! It's really gone mental, never thought a couple years ago when it was around 8000 or something that I would see it up here this quick.

Insanity is synonymous with DAX behavior.

Any level between zero and infinity is fair game!

 

[avion]

Haha hasn't the DAX had an insane 2015 so far cynic! It's really gone mental, never thought a couple years ago when it was around 8000 or something that I would see it up here this quick.

Bloody QE, it was so predictable what it did, looking what it did in US. Seem like another missed opportunity of a lifetime. But cynic missed it with inter day strategy, what chances do daytraders have - zilch, nada...

 

[cynic]

Bloody QE, it was so predictable what it did, looking what it did in US. Seem like another missed opportunity of a lifetime. But cynic missed it with inter day strategy, what chances do daytraders have - zilch, nada...

Tell me about it!

I valiantly counteracted my short exposures by opening long positions on another account. Those sharp (several hundred point) dips along the way achieved their primary objective of blowing away my long exposure prior to continuation of the uptrend.

There have been many opportunities of a lifetime in recent years. Based upon the global economic climate, I strongly suspect that there are many more yet to come.

In my opinion, any trader capable of fast adaptation to changing circumstances, will likely find many opportunities for generation of phenomenal returns.

 

[Wysiwyg]

Russia boosting business relations with Vietnam to build their first nuclear power plant and hydrocarbon exploration in Siberia among other significant deals. Russia bypassing sanctions?

Vietnam is currently implementing about a hundred projects with Russian investment. Russia hopes to shortly start building Vietnam’s first nuclear power plant and create a Center for Nuclear Science and Technology, Medvedev said.

http://rt.com/business/247033-russia-vietnam-trade-cooperation/

 

[skyQuake]

HSI freaks must be having fun with the 1300 pt range!

Southbound flow looks like set to be done before arvo cls