Looking through the charts this evening, I noticed some unusual activity in the EUR/CHF that drew my attention.
I had an opinion on this, because I have seen this type of action before and I have always made of lot of money when I do.
Comparing the pair across brokers confirmed a discrepancy and proved to me that the large movements up and then down were, infact, "in error". So I set to work.
As the market made several of these large spikes in succession, I managed to trade in and out frequently, selling at the top and buying as the price corrected.
I could have made much larger bets but I traded with a good degree of caution because I thought there was a likelihood that the broker would try and ruin the people that were doing this.
There were two ways that I was wary of. The first had to do with the duratiion the price remained static. At first it would remain at a high for several seconds, giving plenty of time to enter the market. But eventually, it would correct so quickly the probability was high that you could click as it changed and be filled at the bottom.
The broker I use sets automatic stops on your positions and I was also aware that a short position at a low (or even at a high) could have resulted in a trader being stopped out in an extremely large spike, as happened at 9.11pm, if the margin wasn't used carefully.
Being careful like this, I missed a lot of opportunities but still managed to increase my account by over 75% in 15 minutes.
Profit - 55 points