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Trading aud/nzd successfully

  • #681
  • Dec 17, 2008 11:26pm Dec 17, 2008 11:26pm
Quoting Verto
the funny thing is when bob or I speak up about how we don't notice any problems the result is normally, "How is it being on a brokers payroll?" etc.

I wish.
I agree, I got over the blame the broker thing a long time ago. The market bounces up and down all day long and I have checked other platforms and systems after many stop losses and found they were all there with the same prices. It is unrealistic to trade forex with 20-50 pip stop losses, I mean, what is a pip anyway, a hundredth of a penny? So price moves 20 hundredths of a penny and we complain about the broker. Do you know how small of a number that really is? We are playing with miniscule parts of a penny and we complain. I came to the conclusion that those who complain about stop hunting have no idea what they are talking about. The Euro has to move a 100 points to equal one real penny of actual money. The other day it moved over 400 pips. That is 4 cents in real money, did you really understand that is what actually happened? You are placing 10,000 dollars so you can move 10 points and make 10 dollars and you get to use that 10000 dollars with less than a 100 dollars of your own money. In real life you are trying to guess that the market will move in your favor 10 hundredths of a penny but if it move 20 30 or so hundredths of a penny against you the broker is a crook. Come on, understand this business, get to know it, what are you really doing out there? If you dont understand it, why are you trading????
  • #682
  • Dec 17, 2008 11:50pm Dec 17, 2008 11:50pm
Quoting nanningbob
I agree, I got over the blame the broker thing a long time ago. The market bounces up and down all day long and I have checked other platforms and systems after many stop losses and found they were all there with the same prices. It is unrealistic to trade forex with 20-50 pip stop losses, I mean, what is a pip anyway, a hundredth of a penny? So price moves 20 hundredths of a penny and we complain about the broker. Do you know how small of a number that really is? We are playing with miniscule parts of a penny and we complain. I came to the conclusion...
Totally agree. I will only blame the broker if they spike 1000 pip and margin call my account in 1 min
  • #683
  • Dec 17, 2008 11:59pm Dec 17, 2008 11:59pm
Quoting nanningbob
I agree, I got over the blame the broker thing a long time ago. The market bounces up and down all day long and I have checked other platforms and systems after many stop losses and found they were all there with the same prices. It is unrealistic to trade forex with 20-50 pip stop losses, I mean, what is a pip anyway, a hundredth of a penny? So price moves 20 hundredths of a penny and we complain about the broker. Do you know how small of a number that really is? We are playing with miniscule parts of a penny and we complain. I came to the conclusion...
Thanks Bob for your ever recurring,scarcley-to-be-overlooked forex education.very clarifying!

Dont you guys think its time to take a closer look at AUD/CAD? It seem to be keeping it steady all these while AUD/NZD pulled off the hook.


Charles.
  • #684
  • Dec 17, 2008 11:59pm Dec 17, 2008 11:59pm
Quoting forexisfx
Totally agree. I will only blame the broker if they spike 1000 pip and margin call my account in 1 min
Dont laugh, NZD/USD on Christmas Eve, I think 2006, did actually that. It was over 1500 pips. Wasn't the broker though, it was the bank that did it. Most of these spikes come from the bank but the broker gets the blame. The banks are either manipulating the move or someone dropped one big check on them to exchange. I mean if a company drops a 1 billion dollar check to exchange what do you think the market is going to do. The reason for currency exchange is business doing business in other countries and have to exchange money. That is why forex exists and that is why we get to participate. If the countries of the world ever go isolationists its all over for forex trading. Traders dont run the market, news can for very short periods of time, but business is what runs the forex market. Once you understand this you will play the game differently. I mean when a guy deposits his check for a big foreign sale he doesnt care that he screws up your head and shoulders or fib line or MA cross or your sto or your fundamental analysis or my EA ........ dang guy................. its the way it works folks.
  • #685
  • Dec 18, 2008 2:28am Dec 18, 2008 2:28am
just gonna wish everyone a merry xmas, ill be going to Bali tomorrow with 33 mates for my 21st so try and not let this thread and the 100x80 get too large while im gone, dont wanna read too much when i get back lol
Grabbing the bull by the horns!
  • #686
  • Dec 18, 2008 2:32am Dec 18, 2008 2:32am
Quoting whitegoodman
just gonna wish everyone a merry xmas, ill be going to Bali tomorrow with 33 mates for my 21st so try and not let this thread and the 100x80 get too large while im gone, dont wanna read too much when i get back lol
Lookin' at a pretty nasty DD currently, if the market manages to give me a good discount I plan on closing up shop and taking my vacation as well. I should of gone at the start of last week like I originally planned.

Oh well, I will always be trolling the forum though so I'm make sure to give ya plenty to read when you get back
  • #687
  • Dec 18, 2008 2:38am Dec 18, 2008 2:38am
Can I add my .25 cents worth ?
I have run,concurrently, 3 different brokers platforms,ie: igmarkets,ibfx, & gomarket, in 2 weeks I was unable to visually spot ANY difference in their quotes. I really believe that any-one with less than an account worth lots of millions simply would not be on the brokers/bankers radar ! C'mon guys,we are talking a market worth $trillions every-day, do you really think they are worried about your $1000.00
  • #688
  • Dec 18, 2008 2:39am Dec 18, 2008 2:39am
Quoting Verto
Lookin' at a pretty nasty DD currently, if the market manages to give me a good discount I plan on closing up shop and taking my vacation as well. I should of gone at the start of last week like I originally planned.

Oh well, I will always be trolling the forum though so I'm make sure to give ya plenty to read when you get back
thanks mate, if you find the holy grail while im gone make sure you let us know
Grabbing the bull by the horns!
  • #689
  • Dec 18, 2008 2:40am Dec 18, 2008 2:40am
Quoting whitegoodman
just gonna wish everyone a merry xmas, ill be going to Bali tomorrow with 33 mates for my 21st so try and not let this thread and the 100x80 get too large while im gone, dont wanna read too much when i get back lol
Need some-one to carry you bag sir ?
  • #690
  • Dec 18, 2008 2:58am Dec 18, 2008 2:58am
Quoting whitegoodman
thanks mate, if you find the holy grail while im gone make sure you let us know
I found the Holy Grail. Do one buy and one sell on any currency and you never lose money.
  • #691
  • Dec 18, 2008 3:22am Dec 18, 2008 3:22am
Quoting whitegoodman
just gonna wish everyone a merry xmas, ill be going to Bali tomorrow with 33 mates for my 21st so try and not let this thread and the 100x80 get too large while im gone, dont wanna read too much when i get back lol
Merry Christmas, Bali huh ........... some people have a tough life.
  • #692
  • Dec 18, 2008 3:41am Dec 18, 2008 3:41am
I'm out of the market for the rest of Dec.

Withdrawal form making its way through the tubes of cyberspace ~

I think I should go outside and play in the snow?
We got snow here for the first time in my 21 years of life. It is pretty amazing times we live in, all around us we are
experiencing history in the making, for better or worse.
  • #693
  • Dec 18, 2008 4:14am Dec 18, 2008 4:14am
Quoting forexisfx
Hmmm...
The difference being... white is like 6 months younger than me, he lives in Aus AND he is going to Bali.

I went to Vegas for my birthday and actually made almost 400$ on the first quarter I put into a slot. They actually use cards nowadays so I guess it cost me like 10$ since I had 10$ loaded... I think I still got that card with 9$ hanging around here somewhere.

^ I stopped and ended up with a free weekend.

edit: It is no fun when I respond to deleted posts. It makes me look even crazier than normal. Ha. I know forexisfx... trust me I'm all about the fun, very few people take me seriously...
  • #694
  • Dec 18, 2008 4:16am Dec 18, 2008 4:16am
Quoting Verto
The difference being... white is like 6 months younger than me, he lives in Aus AND he is going to Bali.

I went to Vegas for my birthday and actually made almost 400$ on the first quater I put into a slot.

^ I stopped and ended up with a free weekend.
wow. i just deleted the message [i posted it for fun] and u quote it just 1 min after i deleted it. U are fast.

I got a habit of posting useless message and delete it after.
  • #695
  • Dec 18, 2008 4:36am Dec 18, 2008 4:36am
Quoting wacazac
Need some-one to carry you bag sir ?
haha dont worry boys ill smash a few jungle juices and chics for you guys

33 blokes in an under 25's hotel with 5 of us turning 21 this month....epic
Grabbing the bull by the horns!
  • #696
  • Dec 18, 2008 4:51am Dec 18, 2008 4:51am
Quoting whitegoodman
haha dont worry boys ill smash a few jungle juices and chics for you guys

33 blokes in an under 25's hotel with 5 of us turning 21 this month....epic
should we put out a travel warning for aussies?
  • #697
  • Dec 18, 2008 8:00am Dec 18, 2008 8:00am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting nanningbob
I found the Holy Grail. Do one buy and one sell on any currency and you never lose money.
watch out, hedging will be prohibited for American brokers by new NFA rules soon....

NO Holy Grail anymore.....
  • #698
  • Dec 18, 2008 8:17am Dec 18, 2008 8:17am
Quoting onu
watch out, hedging will be prohibited for American brokers by new NFA rules soon....

NO Holy Grail anymore.....
There are Australian broker, Swiss Broker, UK Broker, etc.
  • #699
  • Dec 18, 2008 8:50am Dec 18, 2008 8:50am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting forexisfx
There are Australian broker, Swiss Broker, UK Broker, etc.
i know, i m trading with UK and Australien broker, but i think its not an easy task for american traders to go elsewhere...
  • #700
  • Edited 2:07pm Dec 18, 2008 9:50am | Edited 2:07pm
As a matter of interest, what is the aud/nzd spread with your aussie broker?
"The market giveth and the market taketh away"
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