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Trading aud/nzd successfully

  • #1,481
  • Edited 12:56am Feb 25, 2009 12:34am | Edited 12:56am
Quoting Tjpld
Watch out for tomorrow and the day after tomorrow.
Last time those news came out it created a huge trend.
What news u are talking about ? The news that causes the trend on Jan 13 is the downgrade of NZD by S&P. They gonna downgrade currency again ?

I wouldn't switch off my EA becoz I'm waiting for volatility to come. This few days too little movement and doesn't have much trade like it used to be.
  • #1,482
  • Feb 25, 2009 2:29am Feb 25, 2009 2:29am
Quoting forexisfx
What news u are talking about ? The news that causes the trend on Jan 13 is the downgrade of NZD by S&P. They gonna downgrade currency again ?

I wouldn't switch off my EA becoz I'm waiting for volatility to come. This few days too little movement and doesn't have much trade like it used to be.
Mhh that's odd. I have looked back at the calender and I can't find it anywhere. It was a news announcement which came out dramatically different than expected. I thought it was the business confidence which comes out on Thursday.
I have had 17 successful trades yesterday. cant complain.
  • #1,483
  • Feb 25, 2009 4:02am Feb 25, 2009 4:02am
Quoting Tjpld
Mhh that's odd. I have looked back at the calender and I can't find it anywhere. It was a news announcement which came out dramatically different than expected. I thought it was the business confidence which comes out on Thursday.
I have had 17 successful trades yesterday. cant complain.
That's why it trend heavily. The news wasn't schedule and it came out of no where. News like business confidence only be able to move it at most for a day and it wouldnt trigger a trend.
  • #1,484
  • Feb 25, 2009 4:06am Feb 25, 2009 4:06am
I posted this on Jan 13.


Quoting forexisfx
OMG. Nobody see this coming ?



S&P signals possible downgrade to NZ foreign debt
[i] 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...

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 .


Quoting nanningbob
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...
  • #1,485
  • Feb 25, 2009 4:24am Feb 25, 2009 4:24am
Dear Thread,

Let's try to ameliorate the spread issue once again: indeed, as pointed out by White, AUDUSD/NZDUSD would be a poor proxy for trading AUDNZD since the USD part of the equation is too unknown. Judging by correlations (there is only a .49 correlation between AUDUSD to NZDUSD), he is correct. But, how about using AUDJPY/NZDJPY? The correlation there is .91 and the spreads, according to Saxo added up would be only 8.

Lenoxer
  • #1,486
  • Feb 25, 2009 4:25am Feb 25, 2009 4:25am
Thanks.
Just shows what it takes to knock this EA out of the market.
I traded with high risk and still survived the trend.
  • #1,487
  • Feb 25, 2009 6:43am Feb 25, 2009 6:43am
Quoting Tjpld
Thanks.
Just shows what it takes to knock this EA out of the market.
I traded with high risk and still survived the trend.
IMO, most news wouldnt have much effect on AUDNZD that's why it always bounds most of the time.
  • #1,488
  • Edited 9:13am Feb 25, 2009 8:57am | Edited 9:13am
Quoting forexisfx
IMO, most news wouldnt have much effect on AUDNZD that's why it always bounds most of the time.
U mean it bounds like a Kangaroo?
What I want to do is have enough capital in the account to let here bound (35x20) as much as she wants with enough levels to secure profit when the retrace happens. But what is enough capital?

Are you guys trading the original 35x20 or an ea trading some distance from ma?
  • #1,489
  • Feb 25, 2009 11:28am Feb 25, 2009 11:28am
I'm not trading the original EA as such, I am however trading pretty much the same thing, only difference is I am using one of the EA's that does buys and sells on the same chart. Oh, also the EA that I am using either opens buys or sells, not both at the same time.

Quoting Tradster
U mean it bounds like a Kangaroo?
What I want to do is have enough capital in the account to let here bound (35x20) as much as she wants with enough levels to secure profit when the retrace happens. But what is enough capital?

Are you guys trading the original 35x20 or an ea trading some distance from ma?
"The market giveth and the market taketh away"
  • #1,490
  • Feb 25, 2009 11:39am Feb 25, 2009 11:39am
Quoting urbanFX
I'm not trading the original EA as such, I am however trading pretty much the same thing, only difference is I am using one of the EA's that does buys and sells on the same chart. Oh, also the EA that I am using either opens buys or sells, not both at the same time.
Wow, that has to be one ass-kicking EA ...
  • #1,491
  • Feb 25, 2009 7:50pm Feb 25, 2009 7:50pm
Damn, this is one strong uptrend without any retracements ....
  • #1,492
  • Feb 25, 2009 8:07pm Feb 25, 2009 8:07pm
I think this is it, retrace coming.
  • #1,493
  • Feb 25, 2009 8:08pm Feb 25, 2009 8:08pm
Quoting Tradster
I think this is it, retrace coming.
I hope so ...
  • #1,494
  • Feb 25, 2009 9:39pm Feb 25, 2009 9:39pm
Hopefully the London session will push this baby down further ...
  • #1,495
  • Feb 25, 2009 9:45pm Feb 25, 2009 9:45pm
Quoting Schminner
Hopefully the London session will push this baby down further ...
hmm im not in any trouble atm only level 1... however im using bobs MA version for the EA
Grabbing the bull by the horns!
  • #1,496
  • Feb 26, 2009 9:15am Feb 26, 2009 9:15am
Looks like this pair is flying to the moon and not returning ....
  • #1,497
  • Edited 9:39am Feb 26, 2009 9:28am | Edited 9:39am
Quoting Schminner
Looks like this pair is flying to the moon and not returning ....
are you actually trading the ea or manually? I'm not having any problems as it keeps going with retraces.
From what I can see on the charts this morning you should have been able to take profit, correct?
And now we're in the next run.



Yesterday was a 7 level trade. There were no opportunities for me to get out as the red news items were approaching and so I let it ride.

This pair is moving just the way we expect it to.

Once it gets to level 6 I look to see if I can get out with little or no losses, just to be on the safer side.

I have a question for Verto or White or TJ or Bob (is he still with us here?). The problem of Oct 24 '08. Was there any way of getting around that death trade once one was in it? I've been strategy testing that time and could never survive it.
  • #1,498
  • Feb 26, 2009 10:37am Feb 26, 2009 10:37am
It's been a long time since I've seen this pair so bullish ...
  • #1,499
  • Feb 26, 2009 11:45am Feb 26, 2009 11:45am
Quoting Tradster
The problem of Oct 24 '08. Was there any way of getting around that death trade once one was in it? I've been strategy testing that time and could never survive it.
Easy don't trade when Financial Armageddon is knocking on your door.
Seriously, October was not your average trading month.
  • #1,500
  • Feb 26, 2009 1:35pm Feb 26, 2009 1:35pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Ive gone thru this thread, Its an interesting pair , although my broker dont have it..Think I shd demo it first somewhere.
I like the Big Dogs because I trade like them
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