ZAR trading | Forex Factory

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ZAR trading

  • #1
  • First Post: Oct 27, 2006 3:29am Oct 27, 2006 3:29am
I see nobody trades it on forex factory.

Present price 7.47- 7.52 with the predictions for year end at 8 rand to the USD. Thus far I have had success in buying dips below 7.5 and closing just above. The range trading is profitable but news trading is better.

Bad news is the key here normally good for about 50-150 pips.
Timing is everything
  • #2
  • Oct 27, 2006 3:36am Oct 27, 2006 3:36am
Hi Gull,


I also started to look at this pair (I'm South African, so maybe I should! ). I did some demo on it for a while and seems to be successful in it. When you talk about news, do you mean the US news or are there SA news that has an effect as well (and where do you get the info on that?)

Cheers
  • #3
  • Oct 27, 2006 4:04am Oct 27, 2006 4:04am
Quoting icantoo
Hi Gull,


I also started to look at this pair (I'm South African, so maybe I should! ). I did some demo on it for a while and seems to be successful in it. When you talk about news, do you mean the US news or are there SA news that has an effect as well (and where do you get the info on that?)

Cheers
Hi icantoo
Trade bad SA news and good US news which gives you a one way ticket. Bad for those who can't buy USD or EUR good for you and me. I find the best info on SA on DSTV 60 Fin news and use the web or Bloomberg for the rest. Charts help give you an idea where and when to enter and exit.

Watch out for demo trades vs real there is a world of difference.

Watch this space.
Gull
Timing is everything
  • #4
  • Oct 27, 2006 4:53am Oct 27, 2006 4:53am
Hi Gull
Could you tell me thru which broker do you have access to ZAR? on demo
Thanx
  • #5
  • Oct 27, 2006 4:58am Oct 27, 2006 4:58am
Thanks Gull,


Unfortunately I am not situated in SA but in Poland so DSTV is not available for me. Will have to do the WEB thing!

Let me know whenever you plan some trades in this, will be interesting to follow it

Cheers

Icantoo
  • #6
  • Oct 27, 2006 4:59am Oct 27, 2006 4:59am
Hi EJPDL,


I use OANDA where you can have the charts and quotes for the USD/ZAR. Works just fi9ne for me

Icantoo
  • #7
  • Oct 27, 2006 5:18am Oct 27, 2006 5:18am
Quoting ejpdl
Hi Gull
Could you tell me thru which broker do you have access to ZAR? on demo
Thanx
Most do, check free demos ZAR on google but I don't recommend sites. You can try GFXSA is where I am but demo and live are worlds apart.

Be warned.
Timing is everything
  • #8
  • Oct 27, 2006 5:25am Oct 27, 2006 5:25am
Quoting Gull
Most do, check free demos ZAR on google but I don't recommend sites. You can try GFXSA is where I am but demo and live are worlds apart.

Be warned.
On reflection most of the people who know whats going on that I deal with use the broker icantoo has recommended.
Timing is everything
  • #9
  • Edited 4:51pm Oct 27, 2006 5:42am | Edited 4:51pm
Why you okes wanting to trade ZAR? is to avoid the double risk of the Exchange rate back into ZAR after trading in USD or is it for the Volatility?

Check out {link removed} they trade currency futures though but much of a muchness. you can trade in ZAR.
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #10
  • Oct 27, 2006 6:24am Oct 27, 2006 6:24am
Hmmm... USDZAR?

Spread is 200 pips at NorthFinance. On a mini lot, it costs $28.50 for the spread or $0.1425 per pip.

Where do we get the ZAR news from?
  • #11
  • Oct 27, 2006 7:06am Oct 27, 2006 7:06am
Quoting BurgerKing
Hmmm... USDZAR?

Spread is 200 pips at NorthFinance. On a mini lot, it costs $28.50 for the spread or $0.1425 per pip.

Where do we get the ZAR news from?

Check out www.businessday.co.za Not like bloomberg or anything but well respected publication.

give me a shout if you need anything else.
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #12
  • Oct 28, 2006 8:13am Oct 28, 2006 8:13am
Last friday I shorted USDZAR 1 hour before GDP, and closed it 1 hour after GDP... I ended up with $104.37 profit (demo of course)...

If I bought and close GBPUSD at the same times, I would end up with 83 pips.

If I sold and close USDJPY at the same times, I would end up with 127 pips or $101 .

Objectively, USDZAR was most profitable of the above 3 pairs indeed.

Though USDJPY was not far behind, JPY was more prolific last friday vs USD because many USDJPY carry traders left the house.

INTERESTING! The spread was the only killer though... Hmmm...
I will highly consider this pair on demo and once I feel comfortable trading it on live, I would!


Quoting africanpip
Check out www.businessday.co.za Not like bloomberg or anything but well respected publication.

give me a shout if you need anything else.
What kind of news are we suppose to look for? What news move the ZAR?
  • #13
  • Oct 28, 2006 10:51am Oct 28, 2006 10:51am
in oanda from london open to london close usd/zar 60 pip until newyork close 120 pip.the other hours 250 pip
  • #14
  • Oct 28, 2006 2:35pm Oct 28, 2006 2:35pm
Quoting profdr
in oanda from london open to london close usd/zar 60 pip until newyork close 120 pip.the other hours 250 pip

You are referring to the spreads right?

South Africa has same timezone as that of London so I wont be surprise that the pip spread during london session is narrowest.

But my broker that offers ZAR has fix 200 pips spread.
  • #15
  • Oct 28, 2006 2:44pm Oct 28, 2006 2:44pm
yes spreads
  • #16
  • Oct 29, 2006 9:42am Oct 29, 2006 9:42am
What kind of news are we suppose to look for? What news move the ZAR?[/quote]



It more or less tracks the Euro. It is bundled in with Emerging markets so tends to be influenced by external events. Looks like another 50BP rate increase in December, Just had our second 50 BP increase now in October which saw the ZAR strengthen from around R8.00 to the USD to current level. so I think possibly a similar move but not as big. FDI, Barclays deal with one of our big 4 banks as well as vodafone impacted on the Rand. So look for big FDI deals. few and far between though.
Political statements etc typically has small impacts. check out www.reserve.co.za Also latest statement on currency policy check out following link http://www.mweb.co.za//finance/?p=Fi...ticle&i=311081
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #17
  • Oct 30, 2006 12:43pm Oct 30, 2006 12:43pm
The ZAR ran 10c + today against USD once again one of the top movers on the day pricing in the ""Bad news ahead of tomorrow????"
Timing is everything
  • #18
  • Oct 30, 2006 12:55pm Oct 30, 2006 12:55pm
[quote= It more or less tracks the Euro. It is bundled in with Emerging markets so tends to be influenced by external events. [/QUOTE]

The rand has its own idiosyncrasies and unlike the heading, everything you see or hear is not always true.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>
Gold is also set to have a hand in the rand but Aus(move) is always stronger??<o></o>

The zar is almost asleep now but in the morning (gmt+2) which way are we going???<o></o>

<o></o>
Timing is everything
  • #19
  • Oct 30, 2006 12:59pm Oct 30, 2006 12:59pm
Does anybody have a clue?
Timing is everything
  • #20
  • Oct 31, 2006 8:34am Oct 31, 2006 8:34am
Quoting Gull
Does anybody have a clue?
ZAR kicked bum to the tune of over 100 pips after yesterdays 100 pip loss on the back of trade deficit figs that were way better than expected. It almost traded 7.35 but I doubt anyone was able to buy at that price. With the major move of the day over most ZAR trader have shot their bolt and now we wait to see if the USD is srong enough to reclaim 7.50.

Any real USD strength should see 7.50 breached again.
Timing is everything
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