Jump to content

Silver dropped nearly 200 points.


Guest Fresh_man

Recommended Posts

Guest Fresh_man

I have 2 accounts contracts positions were closed due to the drop at the same time BUT at different level, how could this happened?

Please have your say, thank you.

Link to comment

Hi   just some background info in case you missed it (search the thread 'Silver') I posted (with charts) the silver drop on Friday, the 1  minute spike down to 1437 and instant recovery. There was obviously a lot of head scratching amongst all the brokers. CME cancelled all orders early morning below1554, IG changed their charts about 11 am to put in a floor at 1555 (instead of the 1437 as per the chart pics in the post). I suspect you have some negotiational leverage should you contact the dealing desk. 

Link to comment
Guest Fresh_man

I lost about A$80,000 in one time, I have lost all my fund to go further, decided to leave.

BTW, I complained with the margin call that was too late activated on my account, they had unaccepted explanation for me. i felt so unfair but don't know what to do.

Link to comment

Hi    Sorry to hear that, must be absolutely devastating. The curious thing with these so called fat finger events is the one minute drop followed instantly by a one minute recovery, one would presume someone correcting the bad order by putting in a reverse order but then price returned down to retest that low during this week.

I know it was very sudden and across all the brokers not just IG. You see on the one minute chart I posted  in the thread 'Silver' (before the low was corrected) that the bar was probably nearly all slippage, as in the bar was instantly stamped rather than a majestic decline, literally jumping over all stops rather than running through them.

 

This is becoming an increasingly regular event and a concern for all, hopefully someone can offer some advice on how you might move forward.

 

Best of luck. 

Link to comment

Hi , sorry to hear you were affected by the silver flash crash recently.  I know this was a significant surprise for a number of our clients - and of course across the industry - and we have done our best to amend the low levels as per the subsequent CME corrections, so you should have seen corrections to your ledger.

 

If you'd like us to take another look at your account, or discuss it again at all, please do get in touch with the helpdesk by phone, email or live chat, and we'd be more than happy to help.

 

I appreciate that this resulted in large losses for some clients, but we do need to ensure we apply our margin policy in the same way across all clients with the same account type.  If your account balance reaches a certain level, positions are closed in order to prevent further losses being incurred.  The logic behind this is should the market affected keep dropping and we do nothing, clients could end up with huge losses running on their account.

 

Please do get in touch if we can help any further.

 

Many thanks,

Hannah

Have a question? Try searching the community to see if it has already been answered.
Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • ASX: COLES GROUP LIMITED. – COL Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COLES GROUP LIMITED. – COL. In our ASX Stocks Top 50 forecast service, we have accurately forecast a price decline from a high of around 17.15 down to around 16.00 at the current low. And we are now identifying COL could move higher in the short term outlook. ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis   ASX: COLES GROUP LIMITED. – COL 1D Chart (Semilog Scale) Analysis Function: Counter trend (Minute degree, green) Mode: Corrective Structure: Double Zigzag Position: Wave (b)-purple of Wave ((y))-green Latest forecast: Accurate forecast Details: The short-term outlook indicates that wave ((y))-green is unfolding as a Zigzag, and wave (a)-purple has ended. Therefore, wave (b)-purple is expected to continue pushing lower, seeking support around 16.01 - 15.71 before wave (c)-purple returns to rise higher. Pushing higher off 17.15 would renew the bull market view. Invalidation point: 15.35       ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis ASX: COLES GROUP LIMITED. – COL 4-Hour Chart Analysis Function: Counter trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (c)-purple of Wave ((y))-green Details: The shorter-term outlook suggests it appears the (b)-purple wave has bottomed, but a move higher than level 16.5 is needed to confirm this outlook. If this forecast is correct, wave (c)-purple will be opened to continue pushing higher, aiming for higher targets. Invalidation point: 15.37     Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: COLES GROUP LIMITED. – COL aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!  
    • Mathews Darcy mentioned that the quarterly production report released by BHP Group recently showed strong performance in copper and iron ore businesses, but adverse weather conditions affected coal production. Despite the upward trends in copper and iron ore prices, the market response to the stock price of BHP was relatively subdued. This article will delve into the analysis of the quarterly report of BHP Group and discuss its impact on the stock market and the reactions of investors. Quarterly Performance and Market Response Mathews Darcy pointed out that despite price increases in copper and iron ore on Wednesday, the stock price of BHP only saw a slight growth after the quarterly report release, reflecting the tepid response of investors to the report. Particularly noteworthy is the decline in the stock price of BHP amidst significant overnight increases in copper and nickel prices and iron ore prices maintaining a six-week high. Additionally, Mathews Darcy noted that major brokerage firms have begun adjusting their ratings and price targets for BHP based on the latest quarterly data. Several brokerage reports indicate that despite strong demand for copper and iron ore, the overall performance of BHP did not meet market expectations, possibly due to production constraints in its coal division. Investment Strategies and Future Outlook Mathews Darcy advised that when considering BHP stock, investors should carefully analyze the performance of its various divisions and future market prospects. While price fluctuations in mineral resources offer profit opportunities for BHP, investors should also be aware of the potential impact of price fluctuations on company performance. Furthermore, paying attention to brokerage research reports and rating updates will help investors better understand market dynamics and potential investment risks. Mathews Darcy also emphasized the importance of diversified investments, especially in an industry facing price volatility and geopolitical risks. Diversifying investments among different resource stocks can effectively reduce the impact of single market fluctuations on the investment portfolio.
    • Gonna participate! Personally, I'm DCAing in this memecoin....
×
×
  • Create New...
us