NZD/JPY Scalpers

Looking pretty strong this evening. The goal here is long term hold and scalp as many pips as possible in range. We always wanting to be holding a basket full of NJ. Smart margin management is key.

It could be so many pips per week.

Or it could be a certain percentage increase in your account size.

It is not unresonable to increase your account size 100% per month once you get good.

I normally try for 2000 pips per week. But lately I only have the time to dedicate to make 1000 pips per week and even thatis a struggle is I am not given enough time to study and enter my orders.

Stochastics is heading up RSI is above 50 heading up,
macd has crossed over to the north. We should be able to blow through 82.40 even if it takes 3 tries.

Looks like things are heading up on the 120MIN PSAR has not corssed over yet but it will. macd is heading up but hasnt corssed yet (trailing indicator)
the stochastics are heading up and the RSI is over 50 and appears to be heading up. The trend is clearly up. We should be able to easily get back to 82.40 but may need some help to break through that level.

I ran some Fibs from some old highs and lows.
76.4% is at about 82.02 then we are back to 82.72 the old high from 5/30.

The Image is a GIF this time instead of a JPG as it should be easier to look at.

I am getting another wink or two

I was wondering what happened to you, with the number of posts you were putting out I was thinking you would be on the top of the list, but somehow couldn't find you. So I see you are switching to NZD/JPY now. The only question I have is about your swap payments. They are about half, not double. At least on IBFX. Possibly you are getting more on your broker, but most brokers give less interest for NZD/JPY than they do for GBP/JPY.

Remember that 1 lot of GBP is equal to 2.6 lots of NZD, and that is why swaps on NJ are much higher than GJ for equal amounts considering the higher interest rate applicable to NZD

But very few pips were made. It looked like much consolidating today.

There were a few pips to be made in GJ. But basically I scalped a few NJ and rebought again at the same price. I collected interest of 9 cents per 1K lot x 16 @ 5PM rollover.

AND for 1K lot of NJ costs only $1.89 and on the GJ it is $4.91 so it requires ALMOST 3 times the margin and pays close to HALF the interest for me.

Where I was? HEH BANNED. And doing a GJ thread at another forum.
I just switched to NJ TEMP.

FXSOL gives the best for NJ. LITERALLY I can make 100% interest per 21 days based on my margin put up to hold the trade. Then I have drawn down.
But Draw down in NJ isn't anything like what it is in GJ.

And more like interest on NJ is almost 6 TIMES that of GJ!
it costs almost a thrid less and pays almost twice as much.

I've traded profitably like this in the past, but never made much at it. I could never get my lot sizing quite right. I'd have a lot of profitable trades, but at the end of the month it just never added up to much. It's pretty stress free though.

How do you size your lots? For example, on a $25,000 standard account, how many lots would you be trading per entry?

to scalp NJ. It is always seeming like it is in such a tiight channel.
I hate scalping for one pip at 10 cents.
If this keeps up I am going to start playing $100 a pip

I have been sitting with the same orders all week so far except the bottom one or two.

Meanwhile GJ is bouncing almost 200 pips, which would make for some excellent scalping.

So for now I guess with NJ it is turning out to be much slower
and much less traded thaN GJ.

It is excellent for long term capital growth though. Since I am already making 80% interest a month on other investments. I really don't need to make 100% per 21 days with NJ. But I am going to hold out until all my longs hit their TP or at least can be closed for A PROFIT.

I am really a scalper at heart And GJ is a much more profitable scalping pair for me.

But when I was trading bigger balance live accounts, I would use 10K lots
@ 400:1 leverage safely with 10K min. This should work on a 25K account if your leverage is 200:1 yyou should be ok. 100:1 would be pushing it.

With GJ I get a loss leader up high and buy as it goes down.

With NJ I get a loss leader up high. Then since they are so cheap and move so slow I scale down 1 pip and buy and every pip it goes down I buy.

I have a good 10 1K lots near the top at 82.34. So I have 12 1K lots above 82.00. Then I scaled down 10 pips and bought another.
As I get near the bottoms I sometimes buy every 5 pips.
I have been trying to get 42 pips TP on each long but I am closing them early and now trying for 12 pips TP's, none have hit.

I know the market is dragging waiting for FOMC,
BUT nothing there will affect much. There is talk of a 50 bp rate increase by September, but that is sort of early. I am not expecting rate hikes until just before thanksgiving. And if the economy is sluggish and retail sales are severly suffering I do not expect any rate cuts until the end of the year or next year.

In any event things are looking up for long term price increases in all the JPY crosses.

I have made AS many as 10,000 pips a month scalping GJ, but in NJ I am making very few pips.

Hola rmrf,

Nice to see you back here... LOL.

That GJ was good... I'm sure this NJ will be too... LOL.

I am betting that this is not going to come out as high as they expect.

Gas prices are up, grain is up, food in general is up, Inflation is alive and well. Money is tight. So expect a lower than expected number which will send GJ down as much as 100 pips in the first hour.

Buy in the dips and know she will retrace all that she slides.

As for NJ I am holding those and buying more as it dips down, but I dont expect USD CC to affect NJ very much but it sure will send GJ fastly in one direction or the other.

7:50pm JPYhttp://forexfactory.com/images/misc/...act_medium.gifTrade Balance

shouldnt affect us too too much. But it could go against us, but the yen is weak it will retrace.

Kiwi Demand will always be higher than Yen as long as there is such a huge interest rate differential. Nothing like borrowing Yen at .5% and buying and holding Kiwi long @ 7.5%.

I know I do and I am digging my heels in at this point. Margin useage is 12.32%

fitting into my plans. WHile I am holding many lots making lots of interest,
I have been really very unable to do a good amount of scalping it for a profit.

With GJ I made most of my money by scalping and holding baskets full of GJ long at different prices. And holding them until they hit my TP targets.
I have no doubt that the KIWI will eventually WIN over the yen.

And surprisingly the KIWI didnt sink too low after those recent news reports.
So I will hold my KIWI and must go back to GJ trading.

This means I have to start all over again by funding an account with my money, then setting goals for pips per month, pips per week.

I don't know yet what size lots I'll be trading, but those 10 cent per pip lots just dont do it for me I guess. But I proved it can be done from almost nothing and converted to an account that all of the balance is PROFIT.
So now I have my profits locked up in some slow moving kiwi, earning
insane interest.

I guess I spend to much time trading, but it is what I really enjoy doing,
trading is like football for me. But when I look back week after week,
and think about all the time I spend trading, all the trades I make, and
noticing my percent profit ratio, I get like a sort of buyers remorse
where I feel like I have spent all this time and have gotten so little cash lately.

IN the end you have to count your trades, and count the number of trades you lost $ on and count the # of trades you made money on and divide them to get your percentage of profit on all trades. I'd say depending on your risk reward ratio, 50% could be a pretty good point to be at. I do not like the up and down at 50%. I prefer to go up at 99% even if it is in smaller amounts.

So next month I am going back to trading GJ, as it is no fun posting if my only open trades are sitting idle. NJ is too slow for me. For my own pleasure I MUST go BACK TO GJ.

It just takes too long and requires too much waiting.
I don't like to trade that way.

It is like going to a baseball game or something, very boring.