What is the best way to protect your account in events like Brexit with GBP or SNB with CHF ?

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Eleni Anna Branou
Moderator
6562
Eleni Anna Branou  
I think that in cases like these, the only way to protect your account from extinction is money management. Do you agree?
Tim Sustar
497
Tim Sustar  
Eleni Anna Branou:
I think that in cases like these, the only way to protect your account from extinction is money management. Do you agree?
Stoploss won't save you in those kind of scenarios. Brexit was scheduled and everyone knew so the best way was not to trade or trade with extra precautions. The SNB event though wasn't scheduled at all, so I guess there wasn't any way to avoid it, if you were trading it, it hit you unexpectedly. I would say avoid "risky" currencies but then again that can happen with any. Follow news, at least we knew about the SNB holding up the exchange rate... So you could had avoided it. 
Eleni Anna Branou
Moderator
6562
Eleni Anna Branou  
Yes, a way is to avoid risky currencies. I mean SNB is rumored to act again some time soon, so CHF is quite risky at any time.
soubra2003
31839
soubra2003  
Eleni Anna Branou:
I think that in cases like these, the only way to protect your account from extinction is money management. Do you agree?
The best way is only to avoid trading all the markets for such a week before/after the event
Alain Verleyen
36033
Alain Verleyen  
Mohammad Soubra:
The best way is only to avoid trading all the markets for such a week before/after the event
How are you doing that for unexpected event like SNB ?
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