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Realities of Forex Investment
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mnandii
#3071 Posted : Monday, January 19, 2015 8:53:22 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
hisah wrote:
What SNB did on Thursday should be labelled as a criminal act from the sheer size of the manipulation magnitude. Hopefully the swiss corporate will not sit down and press for the CB lot to be handcuffed for shuttering many jobs and livelihoods.

The Fx broker mayhem is just beginning and in coming weeks and months there will be bankruptcies with the market digesting the turmoil.

The SNB actions have just ensured that gold and other alternatives such as bitcoin etc will get bid for a while.


My take is, and will always be, NO ONE can manipulate the market Shame on you . NONE. And especially a market as big as the currencies market.

I did voice this opinion sometime back when somebody launched a book that somehow showed 'evidence' of market manipulation. PPL made comments that the markets would crash. Well, they haven't. smile

The more plausible explanation of the SNB move was that IT WAS BECOMING EXPENSIVE TO MAINTAIN THE 1.20 PEG of CHF against the EURO. So at a point they had to do away with it because THE MARKET IS BIGGER THAN ANY INDIVIDUAL (EVEN CBs). EWI anticipated this and warned their subscribers accordingly.

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#3072 Posted : Monday, January 19, 2015 8:56:30 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
tonicasert wrote:
Interesting times for forex brokers. Time to take a breather and review how this pans out?

Luckily my broker (oanda) says they've survived, but considering withdrawal till things cool off.

@toni. Long time joh! You have been here ever since the start of this thread! smile

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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hisah
#3073 Posted : Monday, January 19, 2015 10:37:33 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
@mnandii - SNB was eventually going to give in to the market. But how the did it was so nasty. History is littered with CBs trying to goose the markets and it always ends as a spectacular failure. That EURCHF peg ensured I didn't get a proper vacation as I had been monitoring since the swiss decided to go for a referendum on gold reserves.

My take is for the SNB to move before ECB this week, the euro is in dead water going forward.

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3074 Posted : Monday, January 19, 2015 10:39:09 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
shrewdinvestor wrote:
@Hisah.I am naturally a risk taker and have enough guts to take ANYTHING in life.I am aware of the risk involved.Thanks for getting back to me.God bless.

I sure myself and others at the moment we are in a limbo on what advice to give you now that the swiss central bank acted in a way last week that could collapse many forex brokers soon!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Mainat
#3075 Posted : Monday, January 19, 2015 10:50:46 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
The timing was forced on SNB. People seem to unware that SNB is a very peculiar central bank i.e. its actually owned by private shareholders so can't just make losses willy nilly like other CBs...
Sehemu ndio nyumba
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Ceinz
#3076 Posted : Monday, January 19, 2015 11:06:20 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
mnandii wrote:
tonicasert wrote:
Interesting times for forex brokers. Time to take a breather and review how this pans out?

Luckily my broker (oanda) says they've survived, but considering withdrawal till things cool off.

@toni. Long time joh! You have been here ever since the start of this thread! smile



Him and his friend @ Mainat.

My take: Fx is a one way street, once in, never out.
“small step for man”
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Ceinz
#3077 Posted : Monday, January 19, 2015 11:14:21 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
mnandii wrote:
hisah wrote:
What SNB did on Thursday should be labelled as a criminal act from the sheer size of the manipulation magnitude. Hopefully the swiss corporate will not sit down and press for the CB lot to be handcuffed for shuttering many jobs and livelihoods.

The Fx broker mayhem is just beginning and in coming weeks and months there will be bankruptcies with the market digesting the turmoil.

The SNB actions have just ensured that gold and other alternatives such as bitcoin etc will get bid for a while.


My take is, and will always be, NO ONE can manipulate the market Shame on you . NONE. And especially a market as big as the currencies market.

I did voice this opinion sometime back when somebody launched a book that somehow showed 'evidence' of market manipulation. PPL made comments that the markets would crash. Well, they haven't. smile

The more plausible explanation of the SNB move was that IT WAS BECOMING EXPENSIVE TO MAINTAIN THE 1.20 PEG of CHF against the EURO. So at a point they had to do away with it because THE MARKET IS BIGGER THAN ANY INDIVIDUAL (EVEN CBs). EWI anticipated this and warned their subscribers accordingly.




True. Ever since the peg was put in place some 4 years ago, I knew that at some point they would have to abandon it. Come to think of it a lot of CBs, brokers etc made a lot of money from the predictable ranges due to the peg, well pay back came.

The next culprit will be the Yen. BOJ will soon have to throw in the towel in its perennial devaluation of this baby and let the market take its place.
“small step for man”
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hisah
#3078 Posted : Monday, January 19, 2015 11:44:34 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Mainat wrote:
The timing was forced on SNB. People seem to unware that SNB is a very peculiar central bank i.e. its actually owned by private shareholders so can't just make losses willy nilly like other CBs...

And many more CBs! Doesn't take much to dig up the CB rabbit hole and discover the private links. When a group of people own the patent of currency designs of any nations money the game is a private club.

The Lost Science of Money is a nice read - http://www.monetary.org/lostscienceofmoney.html

@ceinz - BoJ will screw up yet again.

Fan times as currency wars escalate to unprecendent levels...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Mainat
#3079 Posted : Monday, January 19, 2015 11:53:13 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
hisah wrote:
Mainat wrote:
The timing was forced on SNB. People seem to unware that SNB is a very peculiar central bank i.e. its actually owned by private shareholders so can't just make losses willy nilly like other CBs...

And many more CBs! Doesn't take much to dig up the CB rabbit hole and discover the private links. When a group of people own the patent of currency designs of any nations money the game is a private club.

The Lost Science of Money is a nice read - http://www.monetary.org/lostscienceofmoney.html

@ceinz - BoJ will screw up yet again.

Fan times as currency wars escalate to unprecendent levels...

My pt is none of the other big CBs are privately owned and hence have much more room to manouvre
Sehemu ndio nyumba
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hisah
#3080 Posted : Tuesday, January 20, 2015 5:59:47 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
hisah wrote:
FXCM in Talks With Jefferies for $200 Million Rescue

Whoa! Sh** just hit the fan! Largest US FX broker needs a rescue package! SNB bombshell has started claiming casualties.

Risk management people. Remember that. Time to start assessing your broker. Weak ones will be thrown under the bus with your money!

More details on the bailout terms.

http://globenewswire.com...tional-Corporation.html

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Tuesday, January 20, 2015 6:02 AM | Reason: Not specified
396 Pages«<306307308309310>»
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