Now that the dust is starting to settle around the SNB’s surprising decision to abandon its 1.2000 peg on EUR/CHF, I thought it might be a good idea to share with you guys some of the tweets that I’ve seen during and after the once-in-a-trader-lifetime forex event.
These updates are just some of the countless ones on Twitter and they range from shock, rage, to just plain confusion. I have grouped them into 6 types of tweets:
1. The “WTF HAPPENED?! tweets
First came the violent reactions…
SNB, are you nuts? #EURCHF – @russian_marketSNB! what have you done? this is not good. you sent many fund managers into exile – @MegafundngBravo To The SNB! A Marvelous Blow For Monetary Sanity – @DA_StockmanThis was a 180-degree about turn by the SNB. People feel hurt and betrayed. – @WallStreet_RantIf they (SNB) were a private company, I think the management would have been dismissed. – @Bono62LucaFunny how traders feel cheated by the SNB :). Dudes, it is a central bank after all. – @florincituVery cross with SNB since I’m going to Switzerland tomorrow. Suddenly very expensive trip. – @AmbroseEPI am going to stop eating Toblerone as a protest… – @EdMatts
2. The “I can’t even” tweets
When something is too overwhelming to explain, sometimes you have to resort to jokes and metaphors…
This is like finding out your mother is a secret cross dresser… SNB… – @EdMattsThis snapshot captures the Swiss Franc at the exact instant of SNB announcement – @pdacostaJordan is not only the name of the SNB president, but also of a river…and today’s SNB action is a tsunami – @davidficklingUtmostly cancelled RT @rononmanly: What happened to ‘Utmost Determination?’ – @zerohedge
3. The “I told you so” tweets
As with any black swan event, there’s no shortage of analysts who have seen it coming.
Don’t forget either there was a warning over the weekend when an ex SNB advisor stated floor should now be scrapped. – @Donnie_EagleA lone forecaster in Texas predicted the SNB’s cap would fail this year – @business
4. The “What Have You Done?!” tweets
We can’t miss traders giving their two cents on what happened with the SNB and its impact on the markets…
SNB doesn’t know that once $EURCHF peg is broken, $USDCHF no longer rises automatically w/declining $EURUSD & $EURCHF #forex – @alaidiThe SNB neatly proving that central banks are not bigger than the market and QE is useless. Is anyone listening? – @RaoulGMIToday SNB showed how quickly you can lose the credibility. – @russian_marketThe SNB, has failed at two simple tasks: keeping its word and preventing destabilising currency moves. – @shortorlong
5. The “Optimist” tweets
Because some people would rather look at the silver lining…
So who thinks the SNB reintroduces the floor at 1.30 (or thereabouts) after the ECB? – @barnejekNow that the EUR/CHF floor is gone, Philipp Hildebrand can return to SNB, right? – @cohen76PUTIN: Who cares about my #Ruble when my account in Zurich just shot up by 20% today – @alaidiI think we should at least entertain the idea that the SNB are not complete morons. – @barnejekEuros went down which means designer bags just got 20% cheaper for me – @Fashiongamble
6. The “Trading 101” tweets
Once the shock has subsided (somewhat), a lot of market players are picking up lessons to learn about this once-in-a-lifetime event.
SNB taught everyone a huge lesson today. There’s no such thing as a sure thing in finance. – @finansakrobatYou can’t control the market – you can only control your risk. Unless the SNB intervenes. – @WinnersEdgeTrad
How about you? What kinds of tweets/updates have you seen on your social media feeds for the past couple of days?
XOXO,
Huck
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“Huck loves her bucks!” I always say. The problem, of course, is how to make those bucks!! I'll be posting my adventures as I traverse the forex world while trying to catch some pips along the way. To do this, I will make use of classical charting methods as well as develop my own mechanical system. Not only will I talk about FX, but I'll also share how my day went along with any currency trade updates. Hopefully, by the end of this tale, I'll be able to achieve my goal of becoming a consistently profitable foreign exchange trader.
There is no such thing as being right or beating the market. If you make money, it is because you understood the same thing as the market did. If you lose money, it is simply because you got it wrong. There is no other way of looking at it.Musawer Mansoor Ijaz
