GBP Flash Crash

[snoopdoggydog]

When Flash Crashes like this happen Snoop always wonders who actually makes money. The Traders or the Brokers. Scary thing is that the Pound might still move higher.




All the Pips GBP made Today




Some traders had their Accounts wiped out by these moves today and some are nursing heavy losses



FX Trading, NEVER BORING

Hopefully tomorrows EU CPI is a S**t Show


Today's Winning Pound Trade Selling BTC/GBP



Nice fat 11% of Profit for the taking

 

[JerryMungo]

And some made 7 % on a single trade *cough*

 

[snoopdoggydog]

And some made 7 % on a single trade *cough*

Nice

 

[supersunbird]

The other important question is, what did some lose?

 

[snoopdoggydog]

The other important question is, what did some lose?

Some traders had their Accounts wiped out by these moves today and some are nursing heavy losses

GBP getting just as bad or maybe even worse than CHF (De-Pegged)

 

[kidnotorious]

i) A 150pip move is hardly a crash

ii) ironically, if people took the time to learn to day trade stocks, the forex thing would be a lot easier

iii) if the market gaps, its gaps. If you are the right way round at the time, lucky for you. If not. Too bad

iv) electronic platforms are nice but a lot of real money trading is still done by voice. Electronic gives the often false impression of continuous pricing and trading. Gaps / "flash crashes" are simply times where electronic liquidity dries up and if voice goes from 05/10 to 120/140 its called life. There are many instances where Designated Market Makers are obliged to make prices despite getting killed by price action