Trading aud/nzd successfully

hopefully having a range of 250 will save me, this is a nightmare being at work and only my second day live...

hows this for some food for thought....

-45x25, 8 levels, 250SL, 1.6 multiply on a $USD1000 account draws a SL Risk of 40.68%

now what about going the other way....

-25x60, 4 levels, 280SL, 3.8 multiply on a $USD1000 account draws a SL risk of 44.50%

Ok price broke M4 so right or wrong I am out.

I did the same. Wrong or right. I'm out. It is live money after all, haha. I wish I could of got the 1hr retrace like you did. I never hit take profit even once.

Even though you are doing different numbers the EAs are basically the same. They have approximately the same range. If you are going to do different numbers it is because you want to significantly change the range or the profit. Never tried 3.8, looked at 2.5 and 3.0 trades but never went live with them. You are still in range yet so good luck. The problem is the type of news story. It is the kind that changes a currency to a new level and produces what we call a death trade. It takes price outside the range of the EA and stays outside.

I only got it on one account the other two I took a SL and a voluntary loss. Still a losing day so far. I have reentered very high so hopefully now will try to recover some of the loss. At least I have the 200 range of the EA back in play.

The price has reached and crossed today's R3 level of 1.1972. Now the upward movement has slowed down. Time for it to reverse. Let us watch.

yes the range is the same but if you make the TP say 15 pips then i think profitability may go up considerably, i msut demo first to see. The reason i say this is because how often do you see it whipsaw for 30pips range for a few hours and never reach a 45 or 50 TP... im jsut thinking that it may help to acheive a high level of level 1 TP, and the retrace has to be less significant to get out of trouble if it goes on a run

OMG. Nobody see this coming ?



S&P signals possible downgrade to NZ foreign debt
WELLINGTON, Jan 13 (Reuters) - Credit-rating agency Standard and Poor's warned on Tuesday of a possible downgrade to New Zealand's foreign-currency debt, saying a 'credible' fiscal plan was needed to avoid its first such downgrade in a decade.

The country's economic flexibility is suffering from widening imbalances, reflected in a growing current-account deficit, Standard and Poor's analyst Kyran Curry said in a statement.

'The negative outlook on the foreign-currency rating reflects the likelihood of a rating downgrade if external imbalances begin to pressure the country's investment, growth and fiscal performance,' Curry said.

'A credible medium-term fiscal plan combined with an easing of New Zealand's external imbalances could result in the ratings stabilising at current levels,' Curry added.

Standard and Poor's confirmed New Zealand's foreign currency and local currency ratings at AA+ and AAA respectively. The agency also affirmed Australia's AAA and A-1+ ratings. Keywords: NEWZEALAND ECONOMY/DOWNGRADE .

OK I dont know how this will affect the currency but I definitely will pull out of the market for the day and see what happens with the EAs, enough losses for one day. I will also not trade the Aud NZd session tomorrow but will wait until mid way through the JPY market to get a read. I may be over reacting but this is really big news for a currency.

Any currency pair involving the NZD should be off the boards for trading unless you want to go with NZD losing value. It may be a good time to take a long term position with any of NZD currency pairs that way. I would be willing to bet to trade that way in the USA session for big winners today. Take any kind of simple MA cross and go with it with the NZD losing value.

HEY............ I IS A FUNDAMENTAL TRADER .....................

Unfortunately these are one of these once in a decade news stories you may not see a retrace. It can run a long time.

I have switched on regular 35x20 BUY only now so that I am with the trend at least for now.

This news was the focus of the evening news here in NZ.
They said these are the worst figures since the business survey began in 1970.

New Zealand saw a continued contraction in domestic trading along with easing pricing intentions in the fourth quarter of 2008, according to the New Zealand Institute of Economic Research (NZIER) quarterly survey of business opinion. The survey results revealed marked weakness in the domestic economy, which increases the probability of further rate cuts by the Reserve Bank of New Zealand.

New Zealand's GDP may have declined again in the fourth quarter, resulting in negative economic growth for the whole of 2008, according to the survey. The survey results also showed that business confidence indicators deteriorated in all the four sectors, namely manufacturing, construction, merchandising and services.

A net of 64 percent companies surveyed in the December quarter expect business conditions to deteriorate over the next six months compared to a net of 19 percent in the September quarter. Seasonally adjusted, a net of 77 percent expect business conditions to worsen in the next half year, compared to a net 24 percent in the September quarter.

On a seasonally adjusted basis a net 44 percent of firms reported a drop in their own activity in the December 2008 quarter, which is the worst result for this indicator since at least 1970. A net 43 percent of firms reported they expect a drop in their own activity in the March 2009 quarter, which is the worst result since at least 1970 for this indicator also.

A net 3 percent of firms reported they intend to reduce selling prices in the next three months. The last occasion a net balance of firms intended to reduce selling prices was December 1998. The net balance expecting an increase in costs has fallen from 52 percent in September to 27 percent in December.

A net 90 percent of financial services firms expect interest rates to be lower over the next 12 months than in the past year. This figure is the highest since September 1991.

A net 32 percent of firms intend to cut staff over the next three months. This figure is the highest since June 1991. There has been a notable easing in the difficulty of finding skilled and unskilled labor. A net 20 percent of firms reported it had become easier to find skilled labor and a net 43 percent that it had become easier to find unskilled labor. These figures are both their highest in 17 years.

In the December 2008 survey, capacity utilization was 88.8 percent, which is the lowest since June 1999.

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Copyright(c) 2009 RealTimeTraders.com, Inc. All Rights Reserved

....

I think we will see the NZ currency trade weaker against other currencies for quite a while now. I would use todays move as a baseline and not expect much of a retraction from this level, if any.

NZD has lost, what 10% of its value in 24 hours. WOW. Running the BUY EA only maybe your best move. Me I am out because we are going out and I am not leaving any EA on in this market without me watching it. So far the Aud/Nzd dollar has moved 350 pips without a really major retrace.

The New Zealand dollar weakened to a 4-week low against its US and Japanese counterparts during Tuesday's early Asian deals. Against the euro and the Aussie, the kiwi dropped to 8-day and 5-day lows during this time period.

The New Zealand dollar hit a 4-week low of 50.33 against the Japanese yen and 0.5628 versus the US dollar during Tuesday's early Asian trading, compared to Monday's closing values of 51.41 and 0.5759, respectively. The next downside target levels for the kiwi-dollar pair and kiwi-yen pair is seen around the 0.544 level and 48.1 level respectively.

Japan's unadjusted current account surplus for November stood at 581.2 billion yen, the Ministry of Finance said today - down 65.9 percent on year. The surplus was 960.5 billion yen in October and 1.7058 trillion yen in November of 2007.

Additionally, the Bank of Japan said that the Japanese bank lending to banks excluding trusts was up 4.1 percent on year, up from the 3.6 percent annual gain in November. Including trusts, lending was up 3.7 percent on year from the 3.2 percent annual gain in the previous month. Seasonally adjusted, lending was up 4.6 percent compared to 4.1 percent a month earlier.

The New Zealand dollar edged down against its European counterpart on Tuesday's early trading. At about 9:50 pm ET, the kiwi dipped to an 8-day low of 2.3680 against the euro, with downside target level of 2.418. The pair closed Monday's deals at 2.3208.

In trading against its Australian counterpart, the NZ kiwi dropped to a 5-day low of 1.2038 during Tuesday's early trading. The Aussie-kiwi pair closed yesterday's deals at 1.1847. If the NZ currency slips further, it may likely target the 1.214 level against the Australian dollar.

From the euro-area, the German wholesale price index has been scheduled for release at 2:00 am ET. Meanwhile across the Atlantic, the US November trade balance, monthly budget statement have been slated for release in the New York session.

For comments and feedback: contact [email protected]
Copyright(c) 2009 RealTimeTraders.com, Inc. All Rights Reserved

well atleast i know frostys excel sheet works.... 2nd day live lost 30%

The New Zealand dollar weakened to a 4-week low against its US and Japanese counterparts during Tuesday's early Asian deals. Against the euro and the Aussie, the kiwi dropped to 8-day and 5-day lows during this time period.

The New Zealand dollar hit a 4-week low of 50.33 against the Japanese yen and 0.5628 versus the US dollar during Tuesday's early Asian trading, compared to Monday's closing values of 51.41 and 0.5759, respectively. The next downside target levels for the kiwi-dollar pair and kiwi-yen pair is seen around the 0.544 level and 48.1 level respectively.

Japan's unadjusted current account surplus for November stood at 581.2 billion yen, the Ministry of Finance said today - down 65.9 percent on year. The surplus was 960.5 billion yen in October and 1.7058 trillion yen in November of 2007.

Additionally, the Bank of Japan said that the Japanese bank lending to banks excluding trusts was up 4.1 percent on year, up from the 3.6 percent annual gain in November. Including trusts, lending was up 3.7 percent on year from the 3.2 percent annual gain in the previous month. Seasonally adjusted, lending was up 4.6 percent compared to 4.1 percent a month earlier.

The New Zealand dollar edged down against its European counterpart on Tuesday's early trading. At about 9:50 pm ET, the kiwi dipped to an 8-day low of 2.3680 against the euro, with downside target level of 2.418. The pair closed Monday's deals at 2.3208.

In trading against its Australian counterpart, the NZ kiwi dropped to a 5-day low of 1.2038 during Tuesday's early trading. The Aussie-kiwi pair closed yesterday's deals at 1.1847. If the NZ currency slips further, it may likely target the 1.214 level against the Australian dollar.

From the euro-area, the German wholesale price index has been scheduled for release at 2:00 am ET. Meanwhile across the Atlantic, the US November trade balance, monthly budget statement have been slated for release in the New York session.

For comments and feedback: contact [email protected]
Copyright(c) 2009 RealTimeTraders.com, Inc. All Rights Reserved

I went to every NZD currency and placed .10 trades on against it on every currency pair I could find. The gbp/nzd ought to really make a run. I am ready for the EURO open.

Well I hit the Eur/aud the day it made the biggest move in its history. If I had turned on my EA 1 hour later I would have on the right side of the trade. Then I hit he gbp/usd on its biggest day ever and before this day is done this will probably be the biggest day ever for the NZD. Hopefully this time I will be on the right side of the trade.

The New Zealand dollar weakened to a 4-week low against its US and Japanese counterparts during Tuesday's early Asian deals. Against the euro and the Aussie, the kiwi dropped to 8-day and 5-day lows during this time period.

The New Zealand dollar hit a 4-week low of 50.33 against the Japanese yen and 0.5628 versus the US dollar during Tuesday's early Asian trading, compared to Monday's closing values of 51.41 and 0.5759, respectively. The next downside target levels for the kiwi-dollar pair and kiwi-yen pair is seen around the 0.544 level and 48.1 level respectively.

Japan's unadjusted current account surplus for November stood at 581.2 billion yen, the Ministry of Finance said today - down 65.9 percent on year. The surplus was 960.5 billion yen in October and 1.7058 trillion yen in November of 2007.

Additionally, the Bank of Japan said that the Japanese bank lending to banks excluding trusts was up 4.1 percent on year, up from the 3.6 percent annual gain in November. Including trusts, lending was up 3.7 percent on year from the 3.2 percent annual gain in the previous month. Seasonally adjusted, lending was up 4.6 percent compared to 4.1 percent a month earlier.

The New Zealand dollar edged down against its European counterpart on Tuesday's early trading. At about 9:50 pm ET, the kiwi dipped to an 8-day low of 2.3680 against the euro, with downside target level of 2.418. The pair closed Monday's deals at 2.3208.

In trading against its Australian counterpart, the NZ kiwi dropped to a 5-day low of 1.2038 during Tuesday's early trading. The Aussie-kiwi pair closed yesterday's deals at 1.1847. If the NZ currency slips further, it may likely target the 1.214 level against the Australian dollar.

From the euro-area, the German wholesale price index has been scheduled for release at 2:00 am ET. Meanwhile across the Atlantic, the US November trade balance, monthly budget statement have been slated for release in the New York session.

For comments and feedback: contact [email protected]
Copyright(c) 2009 RealTimeTraders.com, Inc. All Rights Reserved

I wouldnt have much guts to do this becoz buying now it's like buying high. Looking at the chart reminds me of Oct 2008. U never know, NZD bank might step in and give u a good 1000 pip spike. NZD has done 1000 pips spike before and they might do it again.