spikes!

[bonsai]

Skim
"Milan - where on earth is Milan? Oh, it's OK it's not the US "

Oh so true !

Just as well it wasn't Paris. That would have given them pause.

 

[Skimbleshanks]

As it's the weekend the servers are quiet, so it doesn't take too long to draw off the intraday data for the Milan event in April 2002, just so that you can see visually what I was referring to.

This is the news story:
http://news.bbc.co.uk/1/hi/world/europe/1937976.stm

This is the 5 minute Dow chart showing the event, together with the market's recovery:

 

[Skimbleshanks]

And here is the ES chart for the same time:

 

[Skimbleshanks]

If anyone knows the date of the surprise interest rate announcement which sent the market tumbling, then I shall try and retrieve the intraday charts so that everyone can see what happened which caused so many to crash and burn.

 

[stevem12]

Skim

This is a 2 Min chart of the ES when the fed cut rates in April 2001, is this what your after?

Steve

 

[Skimbleshanks]

I am after the actual date it happened.

 

[stevem12]

This is an image of the NQ when te fed cut rates.

Skim the date was 18/04/2001

Steve

 

[Skimbleshanks]

Thanks Steve!

 

[stevem12]

While I`m in the chart posting mood this is the Diamonds for the same date, I`ve haven`t got the Dow futures for then,but this will be pretty similar.

 

[Skimbleshanks]

Just looking at the charts you've posted, DIA was tradeable with b*lls of steel, but NQ was not because it gapped and whipsawed violently.

 

[stevem12]

I`d say the type of b@lls required would depend on if you were in the market when it happened and whether you were short or long

 

[ap29]

Thanks to T333 for the answer to my completely dumb question,to Skimbleshanks for the advice and 2468Steve for his harsh and truthful assessment. I am truly a disaster waiting to happen :cheesy:
Spikes are the the most terrifying aspect of trading,certainly to a novice like me, in that weeks of carefully garnered profits can be wiped out and worse in seconds. For my part I shall stick to one e-mini s&p trades so even a huge spike will not result in a margin call or the broker liquidating my position and pray for the reversal.Riding out the storm may be a better risk/reward for me than my stop getting filled at the low/high of the day and watching the reversal nursing a big loss.

 

[Bigbusiness]

That was a nice spike up just now. Don't know what caused it but for once I was on the right side of it.