[Bulldog75] "Due To The Extreme Volatility Some Market Analysts Foresee..." Submitted by Tyler Durden on 06/13/2012 21:43 -0400 From Oanda: Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012.
OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations. Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted.
For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt. If you do intend to maintain open positions during this period, be aware that OANDA will hold exchange rates steady during the trading halt. However, when trading resumes, rates will immediately adjust to the current market rate and it is possible that the updated rate could result in a margin closeout if the price has moved significantly against your positions.
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Therefore, it is your responsibility to ensure you have adequate funds in your account to prevent a margin closeout. OANDA apologizes for any inconvenience this may cause. For more information, please contact a Customer Service representative Best regards, The OANDA team
[Bulldog75] As I have shared with many of you on Q & A's for over (6) six months: Please prepare for the 'Market Wobble of 10-20%'. If you are deep into the 'Markets' I would get immediate professional advice. Best wishes from Bulldog75. More updates below: FX Markets Bracing For Major Event Submitted by Tyler Durden on 06/14/2012 - 09:37 http://www.zerohedge.com ··· or-event Last night we noted that OandA will shut-down trading on Sunday ahead of the market-moving events surrounding the Greek election (as it seems they are unwilling to take the agency risk and potentially counterparty risk on a large gap). Nowhere is this more clearly priced into the market than the short-dated FX option market. EURUSD 1 week implied vol is at its greatest premium to realized vol ahead of this weekend than at any time in the last three-and-a-half years. The last time the level of short-dated vol was near this high (in absolute and relative terms) was December 9th 2011 and EURUSD fell 400 pips in the next few days.
[Scooby80] Bulldog75 for the tax purposes we should have our money put into trusts correct?
[Bulldog75] Scooby80 : professionally done "Irrevocable Trusts"
[Bulldog75] Mods: thats a Post. done. Gone. thanks.
[Bulldog75] 1:44PM CST: Flash: Addendum to earlier morning Post: I HAVE SPOKEN directly to 'Oanda Forex Trading Inc' and their Representative has officially said they are being closed on Sunday 6am-3pm due to the 'European Crisis'. ( I think they know more but will not address the potential of other 'Events', IMHO.) They are open Worldwide 24/7 their Rep said. FYI: http://www.oanda.sg/ http://fxtrade.oanda.ca/ http://fxtrade.oanda.co.uk/ (end)