How did everyone fare in the flash crash last night? How can you prepare for this kind of thing?
I thought it was a glitch initially, I had notifications popping up that all my take profits where suddenly hit! Fortunately I was on the right side.
that was crazy, almost every major pair fell lol i didn’t have any orders in place at all, but that was interesting to watch lol
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Well I didn’t have much open since I was light during the Christmas break. I had gone long JPY that morning but 3/4 of them got stopped out on the US reversal and only 1 the EURJPY was able to take the big run lower since it didn’t do much in the US session. My TP was far but not that far.
I still haven’t figured out what happened. Where is Pip Daddy? Did he eat too much turkey and have a heart attack over the break? I am really missing those session reports…
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Oh and you don’t prepare for this. This happened in 2015? i think it was sorta at the beginning of the trading year, similar to this one some of the pairs had a massive spike lasting for a few seconds in one of the first trading days. There was the GBP stuff in 2016 and lets not forget the EURCHF one…
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Always safest to be long a given currency when its in an uptrend, short when its in a downtrend. Short AUD, long JPY are trades that have been indicated for several weeks now. The sort of moves we saw this week are too rare to draw really firm statistically valid conclusions about set-ups, but the more common but still large moves we see more regularly generally comprise up moves from uptrends and down moves from downtrends.
Don’t try to be cleverer than Citigroup.
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Threw me out on a few trades I was going to take as well.
Wasn’t sure if it was reactions to what was happening or it was going in it’s natural direction for a while after.
It can be frustrating, and the most painful part of it all is that you can barely prepare for it because it might just hit you unexpected.
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The best way to prepare is to trade small (not over-risk). It is a trading principle that helps any time, especially with 3+ sigma moves.
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what is the 3 sigma moves,is it the mark up with an M for sell and w for uptrend?
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Did any get stopped out for a large slippage? If so, which brokers do you use? They should be exposed. I believe the new EU laws are protecting people from being exploited by brokers for these kinds of reasons.
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I am sure many got wiped out…for beginners reading this…here is your reason to use a stop loss. Don’t listen to any trader that says otherwise. You willl get wiped out…as these things happen from time to time, it is just a matter of when you will be wiped out.
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Or a reminder to not set an emergency stop-loss and to minimize exposure.
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Don’t think you can prepare for this sort of thing. Was short AUD/USD (since 12/27) and NZD/CHF (entered 3 pm eastern), and was long AUD/JPY (entered 3 pm eastern) when this happened because that’s the direction those pairs had been going.
Even then, nothing is a sure thing. NZD/CHF should’ve been a good trade, but my stop loss was too tight - and the spreads too wide, the price action too chaotic.
All in all? A great day, if a bit scary.
Oh. My stop in NZD/CHF was hit almost spot on - a bit of slippage, not much. I use Oanda. On the other hand, the charts on Oanda’s various platforms weren’t updating. I was paying closer attention to NZD/CAD after the crash since I had a trade open. The daily chart wasn’t updating, and the hourly was missing at least 4 bars. I started looking at Forex.com and FXCM charts (via TradingView), and they all seemed a bit off.
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Agreed on this point.
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that flash crash was awesome! killed them on the retrace, of course I knew better than to be in any yen shorts, until after the flash crash.
none of my stop losses orders got it! I had none! and off course I wasnt overleveraged in any of my accounts 
quite a few bots and algos consumed lots of peoples accounts, many and now looking for jobs 
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Put simply, trade smart and invest what you can afford to lose for a start. My point is at the beginning invest that amount you know you won’t worry much about when things go wrong. It is called trading smart as a beginner.
Your public account is still in negative equity - and your trade history shows no such trades.
all lies, only true for those who believe this BS. Stephen System by rrram2 | Myfxbook
no stop losses, bacon sandwiches for everyone!