Swiss Franc

[_______]

I guess they don't want a tidal wave of cheap euros when easing starts. Big move on their part. It has to suck being a Swiss exporter today.

I own NVS and when I heard this expected to see a big drop but because it's an ADR, it got the advantage of the jump in the currency and was actually up in $ terms.

[Dick Schmidt]

I do love the sudden rush you can get in Forex. Last night I was grinding along, up maybe $400 when the bottom fell out of the Euro. Only lasted a bit until order was restored, but that was long enough to make $8400 in 7 minutes. Even with limited leverage in the U.S. Forex is the best place for the small time investor.

Dick

There are 2 secrets to success.
The first is never revealing everything you know....

[barn32]

I do love the sudden rush you can get in Forex. Last night I was grinding along, up maybe $400 when the bottom fell out of the Euro. Only lasted a bit until order was restored, but that was long enough to make $8400 in 7 minutes. Even with limited leverage in the U.S. Forex is the best place for the small time investor.

DickSo if you had been on the other side of that trade you would have lost at $8400 in 7 minutes?

[lamboguy]

there were plenty of people on the wrong side of that trade.

[Robert Goren]

there were plenty of people on the wrong side of that trade. The first of many, I suspect, is FXCM to be trouble
http://www.businessinsider.com/fxcm-currency-broker-news-2015-1

[Dick Schmidt]

So if you had been on the other side of that trade you would have lost at $8400 in 7 minutes?

If I was dumb enough to trade without stops, yes. And in a move like this, even hard stops can be blown through, though not by that much most of the time. Still, there is always the possibliity of catistrophic loss. That's why they call it trading, not winning. That's also why I keep the majority of my trading funds not in my brokerage account but in a money market account where I can easily transfer funds back and forth.

Dick


"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation." ~John Adams

"There must be a better way to make a living than this. Well, I've looked...and there isn't." Jack Parr

[badcompany]

If I was dumb enough to trade without stops, yes. And in a move like this, even hard stops can be blown through, though not by that much most of the time. Still, there is always the possibliity of catistrophic loss. That's why they call it trading, not winning. That's also why I keep the majority of my trading funds not in my brokerage account but in a money market account where I can easily transfer funds back and forth.

Dick



I was gonna mention the stop loss, but he asked you.


With regard to putting funds in a Money Market Account, it strikes me as leaving money on the table. My approach is to have an investment account and a trading account, using margin for the latter. This way, you can profit from long term investments as well as short term swings.