Skip to comments.Due To The Extreme Volatility Some Market Analysts Foresee...(Currency Trading Halt Sunday!)
Posted on 06/13/2012 11:15:58 PM PDT by tcrlaf
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
OANDA will alow no currency trading during the period of the Greek Elections on Sunday. They are also warning that large Margin Calls are likely, and urging currency investors to NOT hold large positions at that time (Donn't hold Euros, without actually saying Euros)
Looks like the time to go long in Ammunition, canned food, and gold/silver bullion might finally be upon us. Hopey-Changey, folks!
Huge selloff after lunch on Friday?
Thanks for this, tcrlaf.
So its the Greek Elections that triggered this move. Yikes. Flipping socialists. They cannot admit their own failure and take their medicine.
The election was still up in the air until the Spanish bailout. After that, it’s Tsipras (the leftists) in a landslide.
Then the Greeks stick the Euros with their bill and get kicked out of the EU ?
As Nigel stated, that then brings down the main EU central bank ?
Bookmark... Hang on tight!
Hang on tight!
Man...this could get sporty.
Sideways market, with a small retracement on the EU/USD this week.
Most retail traders get out of the market on Friday anyway.
I pulled some off the table yesterday. And will do so again today. Bookmark.
Something to contemplate with your morning coffee - ping...
"So traders like the stability of the pro-bailout, conservative New Democracy party over the chaos of the left-wing SYRIZA party, and thus at least right now are speculating that the status quo wll remain.
Yeah I am just scalping getting 15-20 pips at a time this week. Will sit on the sidelines till the London opening on Monday.