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Trading the Kiwi

  • #1
  • First Post: Edited 7:33pm Sep 4, 2007 7:18pm | Edited 7:33pm
Trades taken on this cross will be posted here. Limit and Stop Loss orders will be updated as the trade progresses in real-time.
Your Focus Determines Your Reality
  • #2
  • Sep 4, 2007 7:25pm Sep 4, 2007 7:25pm
Long position waiting for execution at the moment at the rate of:

0.6894
Your Focus Determines Your Reality
  • #3
  • Sep 4, 2007 11:40pm Sep 4, 2007 11:40pm
still anticipating the long on the kiwi. looks to be a good set up. have u noticed that the aus/usd sort of moves with the kiwi or is it just me.
  • #4
  • Sep 5, 2007 1:22am Sep 5, 2007 1:22am
Quoting moboh
still anticipating the long on the kiwi. looks to be a good set up. have u noticed that the aus/usd sort of moves with the kiwi or is it just me.
There is a small correlation between the pairs, but overall I tend not to hang on to it.
Your Focus Determines Your Reality
  • #5
  • Sep 5, 2007 5:25am Sep 5, 2007 5:25am
Long order executed at Limit price of 0.6893

current Stop Loss - 0.6866
Your Focus Determines Your Reality
  • #6
  • Sep 5, 2007 7:05am Sep 5, 2007 7:05am
Stopped out of Long position at 0.6866

Loss on trade - 27 pips
Your Focus Determines Your Reality
  • #7
  • Sep 5, 2007 7:13am Sep 5, 2007 7:13am
Quoting tribble
Stopped out of Long position at 0.6866

Loss on trade - 27 pips
hello

good evening
you got any strategy about this pair
now i open short at 0.6891
thanks
regards
gerakkilat3780
  • #8
  • Edited 7:47am Sep 5, 2007 7:30am | Edited 7:47am
Quoting gerakkilat3780
hello

good evening
you got any strategy about this pair
now i open short at 0.6891
thanks
regards
gerakkilat3780
In my opinion Short positions are the wrong place to be in right now as NZD/USD is oversold Heavily.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD - False Break.jpg Size: 91 KB
Your Focus Determines Your Reality
  • #9
  • Sep 5, 2007 9:08am Sep 5, 2007 9:08am
The Kiwi today got slammed across the board breaking its respective triangles againts all the other currencies. It was by far the weakest currency of all and thus the easiest to trade. I personally picked the NZDCHF and banked +40 pips this morning.
Attached Image
  • #10
  • Sep 5, 2007 11:52am Sep 5, 2007 11:52am
Any fundamental news out on kiwi's weakness? AUDNZD going ballistic, up nearly 600 pips the past 2 days.
  • #11
  • Sep 5, 2007 5:00pm Sep 5, 2007 5:00pm
Quoting WTB
The Kiwi today got slammed across the board breaking its respective triangles againts all the other currencies. It was by far the weakest currency of all and thus the easiest to trade. I personally picked the NZDCHF and banked +40 pips this morning.
Taking 40 pips out of the market, sure that's nice, but as a Swing trader I'm looking for the Trades that generate 400 pips and sometimes even more.

Scalping the market for 40 pips is not too complicated, show me someone that scalps 400 pips a day...
Your Focus Determines Your Reality
  • #12
  • Sep 5, 2007 6:50pm Sep 5, 2007 6:50pm
Quoting tribble
Scalping the market for 40 pips is not too complicated
Oh? Why not just do that all the time if it's so easy? Make 40 pips a day starting with 5 lots and compound your order size with each trade, you'll be a multi-millionaire by year end.
  • #13
  • Sep 5, 2007 6:56pm Sep 5, 2007 6:56pm
Quoting Trader KGB
Oh? Why not just do that all the time if it's so easy? Make 40 pips a day starting with 5 lots and compound your order size with each trade, you'll be a multi-millionaire by year end.
That is ofcourse assuming you don't have any losing trades...

have you ever tried starting a position with 5 lots?

have you taken into account your Stop Loss is also 5 times more expensive?

Your Focus Determines Your Reality
  • #14
  • Sep 5, 2007 7:30pm Sep 5, 2007 7:30pm
Quoting tribble
That is ofcourse assuming you don't have any losing trades...

have you ever tried starting a position with 5 lots?

have you taken into account your Stop Loss is also 5 times more expensive?

I trade larger sizes, and I've had my fair share of big wins and big stop outs. I'd be happy with 40 pips in any trade, and I wouldn't criticize any trader for only making 40 pips a trade.
  • #15
  • Edited 9:23pm Sep 5, 2007 7:47pm | Edited 9:23pm
Quoting Trader KGB
... and I wouldn't criticize any trader for only making 40 pips a trade.
I don't know how you took what I said as criticizm. surely that wasn't what I meant. All I wanted was to make sure members in this thread understand that Swing trading is extremely different than Scalping, So in that specific context (that you quoted) means that I don't take a Short on Kiwi in a False Break EVEN IF I'M SURE the price would drop, because the risk is still to the upside. In my point of view 40 pips are not worth the risk.

Your Focus Determines Your Reality
  • #16
  • Sep 6, 2007 2:43am Sep 6, 2007 2:43am
Quoting tribble
Taking 40 pips out of the market, sure that's nice, but as a Swing trader I'm looking for the Trades that generate 400 pips and sometimes even more.
Hello Tribble,

1) I call swing traders not someone who trades the medium term time frames but someone who trades each consecutive swing in a trend, regardless the time frame that trend is based on.

2) I closed half of my position at 40 pips, the second half is still open. Im aiming for 800 pips on this position.

3) I would sign right now for 40 pips per day. RIGHT NOW!

Quoting tribble
Scalping the market for 40 pips is not too complicated, show me someone that scalps 400 pips a day...
Sure, his name is Nostradamus. Perhaps David Copperfield could do it too.
  • #17
  • Sep 6, 2007 6:34am Sep 6, 2007 6:34am
Quoting WTB
Hello Tribble,

1) I call swing traders not someone who trades the medium term time frames but someone who trades each consecutive swing in a trend, regardless the time frame that trend is based on.

2) I closed half of my position at 40 pips, the second half is still open. Im aiming for 800 pips on this position.

3) I would sign right now for 40 pips per day. RIGHT NOW!



Sure, his name is Nostradamus. Perhaps David Copperfield could do it too.
1) Then we disagree on what is Swing Trading is.

2) Hope Your other half has a tight stop.Also I think to expect 800 pips from
it is a little naive, but that's just me...

3) I wouldn't sign up for 80 pips a day. I'm not here just for the money, I am
mostly here because I enjoy Trading

4) We're all here to learn from one another, I didn't discard your opinion please don't discard mine
Your Focus Determines Your Reality
  • #18
  • Sep 6, 2007 8:06am Sep 6, 2007 8:06am
But Tribble, you realize that no-one, not even the best trader in the world, can sustain 80 pips a day? it's just not realistic. Where did you get the idea that such outrageous scores are possible?
  • #19
  • Sep 6, 2007 9:42am Sep 6, 2007 9:42am
Quoting WTB
But Tribble, you realize that no-one, not even the best trader in the world, can sustain 80 pips a day? it's just not realistic. Where did you get the idea that such outrageous scores are possible?
Maybe not for a Scalper, but an average 80 pips a day is certainly possible for a Swing Trader.

Good Luck on your trading session
Your Focus Determines Your Reality
  • #20
  • Sep 6, 2007 9:45am Sep 6, 2007 9:45am
Entered a Short Position on NZD/JPY at 79.84 Limit.

Stop Loss at 79.96

Take Profit: Currently not set
Your Focus Determines Your Reality
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