₦airaland Forum

[center] Dear Mr XYZ ,

On 23rd June the UK will hold a Referendum to decide whether to remain or exit the European Union. This event is commonly called as BREXIT in the media. In this regard our LPs and Banks are going to increase the margin requirements on GBP and EUR based currency pairs and Equity Index CFDs and we are obliged to apply the same margin to our Traders accounts as well.
We are expecting a sharp increase in the margin requirements and decreased leverage prior and after to 23rd June 2016. We are already seeing an increase in market volatility ahead of the vote and expect this to continue over the next 2 weeks. During BREXIT event, we are expecting wide spreads on GBP and EUR based currency pairs and Equity Index CFDs. Also the liquidity may get dry, you may not able to take new positions or you may not able to close the existing ones. We strongly recommend you to reduce your exposure to these currencies and reinforce your open positions by sending extra margins. We don’t assume any responsibility for execution of your orders during that period.
PCM Brokers will raise the margin requirement and limit maximum position sizes on all GBP and EUR based currency pairs and Equity Index CFDs. Details of the margin rate changes and timings will be communicated on Friday 17th June. These temporary risk parameters may persist over the weekend of 25th and 26th June depending on the market reaction to the referendum result.[/center]



On the 23rd of June, Britons will go to the polls to vote on whether or not to leave the European Union.

The referendum has been billed as the single biggest currency event of 2016 and has the potential for extreme volatility in GBP and EUR based currency pairs regardless of the outcome.

As a result of this expected volatility, Pepperstone will make temporary changes to our trading terms for margins on GBP and EUR based pairs as well as certain index markets listed below. These leverage changes will apply as of market close on the 18th of June and will be in effect until further notice.

New leverage / margin requirements for affected instruments are as follows:


GBP pairs and UK100 maximum leverage
EUR pairs and EU indices maximum leverage
Leverage
maximum
50:1
100:1
We kindly advise our clients to carefully consider and evaluate the potential impact of the above changes as well as the event itself on your existing and future positions on these products. Please also consider the potential trading conditions below in the lead up to the event:

Extreme volatility on GBP, EUR, CHF currency pairs and on UK and European indices.
The propensity for liquidity providers to significantly limit their liquidity, leading to a considerable widening of spreads as well as potential increased amounts of slippage on executed orders.
Ensuring you have enough available margin / equity in your account for the days leading up to and during the voting/announcement of results. This includes "hedged" positions (long and short on the same symbol believing this eliminates your market risk) which if spreads widen have the potential to stop out positions.
Should any further trading terms change on our products, Pepperstone will endeavour to contact you via email, MT4 or by changes made to our website. However, we reserve the right to make further changes without notification such as increased margin requirements, trading restrictions on certain products or any other such matter.

Pepperstone will be carefully tracking market volatility indicators in order to revert to our standard terms as soon as we deem possible. Whilst it is very difficult to predict the nature or scale of the event, depending on the result it could mean these conditions could be in effect for an extended period of time.

EmmanuelD1st:
Nice!!! are you still in your EURCAD sell? My TP is ur entry...what do you think this pair is headed? cause I think it'll go way past ur entry

ITS been forming a nice lower low and lower high on the 4hr TF, this movement i guess was due to some news from CAD , I dont really expect it to take out last weeks high , it made quite some drama before deciding on its bearish move so I dont see any strong fundamental reason to take out that high.. I d rather you look for sell opportunity from the bearish 4Hr channel if it eventually gets there meaning your TP zone may or may not be realizable. if it is then my loss

USDJPY - closed with net 1030 pips

jorel1:
USDJPY added another sell from current price support level turned resistance . MEANWHILE e bi like say I don enter one - chance with GBPJPY currently in -ve 179 PIPS.

jorel1:
Operation Brexit 2390 pips Net 750% ROI so far
Closing 30Mins b4 Brexit.
Stay tuned

jorel1:
Operation Brexit 3362 pips Net so far , just like someone here would say 1000% ROI added to my account
Closing 30Mins b4 Brexit.
Stay tuned for update Friday

jorel1:
Operation Brexit 4526 pips Net 1200% ROI so far
Closing 30Mins b4 Brexit. (The momemtum is quite for encouraging for another bearish candle next week)
Stay tuned for update Next Wednesday

Operation Brexit 6689 pips Net 1650% ROI so far
Closing - not sure yet. ( Uncertainty is high from now till next week, I could lose all in a seconds ,congrats if you took all my calls )
Stay tuned for update Friday

EmmanuelD1st:
Those traders running from BREXIT pairs...you are missing oo ...A good trading system should be able fetch you pips in any fundamental Or technical condition...Trust your system and use it fearlessly.
FOOD FOR THOUGHT: If you have doubts with your system, you shouldn't be trading with it.

Over 700 pips on BREXIT pairs...Mr. Jorel, I don join your task force oo #OPERATIONbreXIT...will close it when you close yours if TP or some technical conditions do not take me out

I initially planned closing all trades 30 mins b4 Brexit , later I thought of the issues of slippage, widened spread , no execution or other tricks by brokers during this time.
The Guardian polls result next week Monday would have a huge impact on trades next week, if its still the leave camp on the leading side the expect GBP to sell crazy before the Brexit day..If its the remain camp leading then i dont know how far up the GBP will go b4 brexit day, if the buyers take it up to extreme , the bears would likely respond with a wide gap or spike down because the bears have been in control prior.

So I decided to close every open position which are less than 600 pips distance from market price on Friday 17th. leaving the rest to run during and after Brexit. But if you are conservative trader , you should close all your trade this Friday few hours after US opening session of course except you have huge appetite for risk like me .
My risks being that if Britain decides to leave , then i don hammer be that, but if they decide to remain then I dont know how far up the buyers will send the 5 minute candle after the result. I would give back some profits I already made.

amyliajane:
Pls is it the same thing as DAX index

This instrument is new for me , even this DAX. so am not sure if its dsame

USDCAD testing previous significant support on the daily, I would say it just found its high for the week.

priceaction:
hi, this ger30 indices is getting interesting and less noise like forex pairs. If i see good prospect on this, i might totally abandon fx trading for only this pair. It is sweet and likely pridictable than fx

which broker are you using, cos my broker minimum lot is a Full lot (1lot). I will like minilot for a start on my live account but they wont fill my order.
secondly, i think the market always close around 8pm and resume during frankruit open, i guess. This is what i see on my broker time may be due to the fact that it is a stock. What thou sayeth

lol, you are right .. last time i checked this pair was a weekend and couldnt test it, Although it comes with a relatively higher margin requirement + commision , but its advantages surpases in the sense that the $$ equivalent of its average range within any given period is far higher than any forex pair including the fact that trading it, you could get rid of the risk of cross dependencies of different currencies and limited risk acrued from trading limits of the eurpean session only... Infact trading this pair comes with a higher reward to risk ratio as you are only concerned with the german economy news.

I begin working on it..

Today is Tuesday ,GBPNZD no movement yet. So you can sell now for TP 900 -1000 pips close friday.. the risk is quite low , looking from the 4hr TF.
NB this call is only for those who like money

jorel1:
GBP and most likely EUR traders expect sellers to get their new record lower low before any buyers can courageously pave in... no buy retracement would be sustained past 20% this period...i expect these lows to occur next week ..

As you can see the bulls couldn't drive GBP cross prices past 23.6% fib of lasts week range.

Everyone complaining of GBP eratic movement but all i see from weekly TF are smooth candles formation.

Choose only one direction to trade , one with the highest reward to risk ratio.

mrikay:
No be me go carry last

EmmanuelD1st:
Sold it too @1.9255

so lets see how it goes

Okay, i felt tempted to open a sell on GBPAUD ...from current price , to close on friday...

mrikay:
anybody there?//?? who has eyes on gbpusd?? is this madness or what?

Thats a price rejection occuring again on the 4hr TF , sellers telling buyers , you can't cross this level..go back .

Capitals:

Nah, just my instincts telling me its due for a raise. I hope I catch the right pair though

The pair just dey form lower low dey go , e no send , if i was gonna trade it now, i d rather see this retracement as an opportunity to sell..or wait for a lower low formation on the weekly to buy big.. just my crazy opinion though

GBP and most likely EUR traders expect sellers to get their new record lower low before any buyers can courageously pave in... no buy retracement would be sustained past 20% this period...i expect these lows to occur next week ..

No signals from my side but performance updates on past calls until brexit over, to officially graduate from trading $X digits per pip to $XX digits per pip.

JLINE:
Ger30 pip value is not much ? ...pull up a chart and take a trade and remember minimum lot size is 1.0,come tell me about that statement again.

..

Truth234:
Forex Weekly Outlook June 13 – 17

http://investorsking.com/forex-weekly-outlook-june-13-17/

lol , you d be surprised the outlook posted here is likely much more accurate than what you find online.

jorel1:
Operation Brexit 4526 pips Net 1200% ROI so far
Closing 30Mins b4 Brexit. (The momemtum is quite for encouraging for another bearish candle next week)
Stay tuned for update Next Wednesday

ok closing all my trades mid day 17th june and taking the little i made to return to normal trading. I don't trust these brokers... their mouths are wide open now to swallow in the pretence of protecting their clients..

EURNZD buyers , do take care . you ll have lesser risk if you follow one direction by looking to sell the retracement ..
what do I know?

jorel1:
Operation Brexit 2390 pips Net 750% ROI so far
Closing 30Mins b4 Brexit.
Stay tuned

jorel1:
Operation Brexit 3362 pips Net so far , just like someone here would say 1000% ROI added to my account
Closing 30Mins b4 Brexit.
Stay tuned for update Friday

Operation Brexit 4526 pips Net 1200% ROI so far
Closing 30Mins b4 Brexit. (The momemtum is quite for encouraging for another bearish candle next week)
Stay tuned for update Next Wednesday

GBPUSD just added to my inventory - Sell
Is there any reason you think trade shouldnt be ? please notify so I can close it

jorel1:
am not in this trade , but i ď suggest stay with sell and eat this months candle completely .. i think this month candle for most GBP pairs gonna be a long one.
Although brexit or no brexit we 'll likely see new lows form before the bulls come in if the brexit gets a stay.

the low seems to be forming too soon..this is only NZD effect, GBP contribution not done yet

Lifecontinues:
I wish I had about $100,000 to trade fx, World bank will look for me by the time I start trading with 100 lot size.

1 pip gives $1000 and imagine basketing like 20trades with each on 100pips

Fx can make one imagine eeh

be careful and dont get too excited , the market is only reacting to some uncertanity.. and you see one currency weakening against all other currencies. you only see this happen maybe once or twice a year and thats the reason i have more than ten trades open although 5 pairs.. on a normal day i wouldnt have that much.. believe me when the market returns to normal , trading this bulk of pairs will fail you.

but when gbpjpy is moving up , gbpchf down, gbp cad up, eurcad down ... thats when one would get caught up in the butterfly effect and lose money trading so many...because of the randomness in correlation. ..very soon i will only be trading these kinds of events where one currencies gains huge strength or weakness against others.

JLINE:
bros there is no imagination,i believe one day we will get there just like what one of my bosses is doing right now. he started early anyway.check the pics below...
we will get there bro and these imaginations will come to pass. @jorel1 what you think of gbpnzd weekly,everything screaming sell on the pair and i am targeting 1800pips.

am not in this trade , but i ď suggest stay with sell and eat this months candle completely .. i think this month candle for most GBP pairs gonna be a long one.
Although brexit or no brexit we 'll likely see new lows form before the bulls come in if the brexit gets a stay.

jorel1:
USDJPY added another sell from current price support level turned resistance . MEANWHILE e bi like say I don enter one - chance with GBPJPY currently in -ve 179 PIPS.

Just entered +ve from -ve 179pips

Lifecontinues:
What I post are my trading positions and not just the balance. The time I enter trade is shown which may be regarded as trade time call.

Jorel1 did post his balance and it is just some pages ago


Anyways, I will no longer post any of my trade positions as you have corrected...regards

jorel is bad influence , not fit for a role model

US session coming with action

EmmanuelD1st:
trade closed manually +6 pips...half bread better than (according to...... )

DUNNO why u closed this trade , its d right direction