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"Due To The Extreme Volatility Some Market Analysts Foresee..."
Helmet time.
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.
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
What do you get when you mix counterparty and agency risk, and throw in some currency collapse fear for good measure? This.
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I thought the original was RoboTrader, not RobotTrader. Could be wrong, though.
Nope, there is no RoboTrader. Or at least user search produces no results for that query.
JNJ, great company, but I won't be buying it just now. Like your choice though.
Looks to me like the action in jnj already happened, what do you see here? Not trolling, serious question.
Holy Schneikies! That's gonna leave a mark.
Here's world renowned economist Nouriel Roubini's solution to the European debt crisis. Someone must have slipped him something.
From CNBC: Roubini also said the German government should give its citizens incentives to go on holiday in countries in the south of Europe that were affected by the debt crisis to help those states recover.
Roubini is an idiot tool.
Last night on Cramer: "I'm long Roubini, buy buy buy"
And when they get there, they should buy lots of thingamajigs.
Sure, Germans will love to go to Greece where they are greeted with Nazi flags and Merkel-as-Hitler posters.
haha he is losing it, like Goldman, like everyone...
He is somewhat off center. Best thing for Greece is to go back to the Drachma and get the rich Scandinavians/Russia (energy resource countries) to holiday in Greece.
The Germans, nah they will be poor as poor once France goes.
What sort of trading platform disables it's client's ability to trade because of concerns about volatility? Volatility is the lifeblood of trading - the very thing that any sensible trader craves.
OANDA is clearly some sort of amateur-hour outfit. If I had an account with them I would be closing it immediately.
Futures are starting ramp up.
I smell an surprise announcement.
Are they really surprises anymore? The air smells of surprises all the time. Easpecially at bedtime.
Right now I smell baked beans , deviled eggs, and beer because I just farted.
That might be your FB shares?
I don't think that's what you're smelling.
I just farted.
Open 2 FX accounts with 400:1 leverage. Start clicking buy as fast as you can Sunday night on account number 1.
On account number 2 start clicking sell.
Walk away from the negative account and cash the winnings on the short EURUSD account.
haha TPTB have no honor. Its like they have already lost in chess but will not admit checkmate so we have to take em out slowly, piece by piece.
WTF are people still doing in Dollars and dollar denominated investments? It's like Russian Roulette with a full mag.
Silver, Silver and more Silver.
I quit Fx trading when the DB office in NY closed and stole $3,000 from me. I did not tend to the announcement for 4 weeks and when I called 'nobody knew nothin'...it was just gone. Germany's biggest bank stole my money. At that point I knew the end was near...and it is.
I have a personal account with OANDA and was only somewhat pissed when I received this e-mail notice today.
My overall takeaway: tempest in a teapot.
As anyone with an account with this shop understands, you can trade 24x7 with them - even when markets are closed on the weekends. The (obvious) cost to trading on the weekends is that spreads blow out. OANDA may offer a 1.2 pip bid / ask spread on EUR/USD during market hours, but that spread could be 10 pips on Sundays before 3 PM EST. I've never looked into the underlying mechanics, but OANDA's FX rates also fluctuate during off hours.
It seems they instituted this policy because whatever algo controls the off hours FX rate mid-points AND spread widths is expected to be flying blind while the sheep-fucking miscreants in Greece vote for a political doctrine that has over the decades failed repeatedly. Bottom line is I'm keeping my positions open. Be happy to follow-up with a post about hiccups in case anyone has passing interest.
This is strange. " whadya mean I can't trade" , be on the sidelines, or don't get MF'd, or how do I trade the big move, who cares I got gunz.
A big move has been telegraphed to the market/world. Wierd. Which way will the sheep run. They are usually getting stampeded by the unknown and only a forensic chartist can do the post mortem.
Which way will the sheep run?
don't worry... when the crash happens
I'll be aboard David Koch's yacht tooling around the
Eastern seaboard...
here's a brief video snippet of his yacht in New York harbor
https://www.youtube.com/watch?v=9EN88esNg40
...
watch it and Weep!!!
Yeah, f those that succeed and take care of themselves. #toomanyidiots
As Europe and US crash, over here is Asia, we just keep buying those PM's.
No such things as too much Silver.
Actually you are probably about to crash Germany once their exports choke off on your channel stuffing and overcapacity + major slowdown.
We are all in this together.
And Germany is about to send the EZ bond markets into chaos:
--Rising bund yields suggest that Germany is now under pressure
--Investors are looking for more moves toward union
--Sentiment shift comes even before Greek election on Sunday
Jeff Nielson says:
"Polyester sportswear already consumes 1,200 TONS of silver per year, which (at 32,000 ounces per ton) works out to over 38 million ounces of silver permanently consumed every year – in just one application. To put this into context, there are supposedly only 600 million ounces in total, global inventories at the moment."
American Eagle sales
2002 – 10,539,026 Bullion American Silver Eagles were sold.
2003 – 8,495,008 Bullion American Silver Eagles were sold.
2004 – 8,882,754 Bullion American Silver Eagles were sold.
2005 – 8,891,025 Bullion American Silver Eagles were sold.
2006 – 10,676,522 Bullion American Silver Eagles were sold.
2007 – 9,028,036 Bullion American Silver Eagles were sold.
2008 – 20,583,000 Bullion American Silver Eagles were sold.
2009 – 30,459,000 Bullion American Silver Eagles were sold.
2010 – 34,700,000 Bullion American Silver Eagle were sold.
2011 – 39,868,500 Bullion American Silver Eagle were sold.
So annual one ounce Silver Eagle sales are almost the same as the amount of Silver used to make polyester sportswear. And it is gone forever as used in production.
And there are about 10,000 industrial uses.
Dr. Jeff Lewis says:
"A reasonable estimate is that roughly 1 billion ounces of silver currently exists above ground in investment grade form."
Guess we all should buy some Silver before there is none.
View seems to line up with this video - Unique Technical Setup Warns Of Next Impending Disaster For Equity Markets - 13 June, 2012.
Looks like someone intends to coin silver.
...so what they really mean; time to divest from the black hole.
http://www.youtube.com/watch?v=QjiWDCga__s
here we go bitcheZ...big day today.
euro area sinkin like a ship
Early weekend.
Going to have a nice Churchill to light up, and some good gin for a smashing martini.
I will dream of the SHTF for reals and dominoes falling to take down the banksters.
If I wake up Monday morning and it's the same bullshit I'm going to have to go shopping for more cigars and martini glasses.
Oanda is probably smart. If most of thier clients are short the EUR and it ramps, they have fewer clients for the future. Everybody believes the EUR will tank. What does that tell you?
It tells me you are making assumptions, probably talking your book?
Don't worry everyone. Just listened to Humphries on the Today programme interviewing Peston and banking association mouthpiece Angela Knight. Osborne is proposing 4% bank reserves to avoid risk of bank runs etc. Knight says 3% would be enough. She also says it's not of concern because of the £85 000 insurance provided by the banks. No mention or understanding of the effects of fractional reserve banking at 3% or 4%.
And the really weird thing about the interview was that Humphries got completely tied-up with the maths and uttered something about "For every £1 deposited the bank has £33"........ Peston quickly corrected him ......... but he was unwittingly describing the Fractional reserve effects generating free money for the banks!
http://www.youtube.com/watch?v=z_syZ6pA7O0&lc=rlyPIE92iD8-hwfh3Y_WWW1poDwx-QV9ZXM-W_ZRHyU&feature=inbox
Take Shelter.
oanda time is uganda time for forza Italia?
they play Croatia today...
Someone please clue me in. I have been grinding on a major project the past few weeks and am not up to speed as I should be, considering I'm holding a sizeable options portfolio (way long silver, hedged) that I may need to liquidate. What's happening this weekend that's so integral to the euro? Pathetic I know, but it be's like that sometimes...
Greek Election.
volatility=bearish market
.....remember Y2K !
I would have gone for the orderly default option though, ... but ... whatever.
If any currency is facing imminent devaluation, I would suspect it is JPY, GBP or USD to be devalued, not the EUR. Euro debts are mainly to other EUR countries. A devaluation would not reduce debts much (not enough to make a devaluation worthwhile - but would 'only' help exports)
The USD? Really?!?!?!? You've got to be kidding...we have the smartest most brilliant and peaceful man in the white house leading our country, we have the most brilliant minds in the treasury, the Fed, we have a media very supportive of the initiatives of this demi-God (apologies to Obama for understating his greatness) leading the country, we've got Warren Buffet extolling the virtues of taxation. The USD HAS to be the most stable of all.
I mean, these guys wouldn't lie about our monetary unit's strength.
Would they?
>currency collapse fear?
these guys are optimists!
they are 4 days early but they should add a week.
the new reality wont ge here b4 independence day as is.
and that's ironic.
I want off this planet.
Can someone please just telephone oanda and ask them what the f' they are on about?