Jump to content

Silver dropped nearly 200 points.


Recommended Posts

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 post

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 post

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 post

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

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      15,392
    • Total Posts
      73,880
    • Total Members
      62,282
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    celeste
    Joined 14/06/21 10:54
  • Posts

    • Yep - If the major cycle working out since 2016 repeats as its done for the past 225 years then the USA Indices are UP, UP,UP until the mid 2030's - corrections will be nothing like 2000-2009 corrections  Although chart is up to date - I wrote the below pre 2015 (can't remember exactly when) - as an absolute min I'd expect 22-25,000 for the SP500 to end on in 2034
    • Have to say Casey, your contributions on the on going Covid story (monumental ballsup) have been a tonic. Was sceptical for sometime but am more sympathetic to your premise regarding the pandemic and the reaction to it. Vaccines are such good PR, it is a shame that the general population are being used as guinea pigs for DNA altering drugs with as yet unknown and potentially damaging long-term consequences and side effects. Doubly bazarre,the governments of the planet are prepared to take the risk in the name of exigency. AZ is particularly dirty and incomplete, if not down right dangerous as to be considered a lethal weapon to some of the unfortunates unlucky enough to experience the more unpleasant side effects of being injected with it. Such is political expediency and exigency at the altar of public health. Forgive the unPC comments, but they are borne from experience, as my wife has had long-term reactions to the "cure". Most folk don't want to hear anything but the popular narrative, even if it vere's heartily away from some inconvenient truths. So thank you Casey keep up the good work, it's appreciated.
    • Don't think the bull run has ended, just a correction is very much on the cards. Timing of which suggests we have some room to manoeuvre but would not be surprised at all if the market tops out within the next couple of weeks, or anytime around 21/06....Suggest it is more a profit taking exercise than genuine full scale correction, which could/should be later in the year. Only mentioned this as markets have been red hot for months and swimming in liquidity, sooner or later some of that will be taken out in the form of profit taking. Suggest it may be a 10% er or even more. In the past have purchased  ETFs that short the market and like to buy the Vix at less than 20, as it's a fair form of insurance (Imho). Psychologically, the oil markets have a problem with WTI being over the $75, which at current rates of progress is due to top out sooner than later. Just mentioning it. 
×
×
  • Create New...