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NZD/USD

  • #1,461
  • Apr 17, 2013 1:19pm Apr 17, 2013 1:19pm
Quoting namitak007
I have still some shorts open at 0.837 I just hope to close them in profit by the end of April!
Why didn't you short when price was 8670 86
You could of existed in profit and close the 8370 and done with it.I can't tell you what to do but sometimes you must take a loss and enter again at better number and cover original loss and make profit.
In trading, you have to be defensive and aggressive at the same time
  • #1,462
  • Apr 17, 2013 1:30pm Apr 17, 2013 1:30pm
Quoting Davit
Why didn't you short when price was 8670 86 You could of existed in profit and close the 8370 and done with it.I can't tell you what to do but sometimes you must take a loss and enter again at better number and cover original loss and make profit.
Actually I am having no money left! I mismanaged this time. I just hope for recovery!
  • #1,463
  • Edited 2:31pm Apr 17, 2013 1:49pm | Edited 2:31pm
Looks like another bucket to me. 8380ish is my near term target.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdc.jpg Size: 36 KB
FF journal: Peaks and Troffs
  • #1,464
  • Apr 17, 2013 3:00pm Apr 17, 2013 3:00pm
Quoting inpatient
Back in the game short 1 lot each .848 .849 .85

out at 0.844

150 pips total.



Will look to re enter at 0.85
Money never sleeps...
  • #1,465
  • Apr 17, 2013 4:17pm Apr 17, 2013 4:17pm
Quoting Davit
I may suggest a good technique if you are not doing it already. Never enter with full lot instead break 1 lot into 2 or 3 or 4 depending your account size and place your orders at maximum highs in stacking up method, this way your 1 lot gets better numbers and also allows multiple orders and closes. So I always divide 1 lot into 2 so my 6 orders are actually only 3 lots.This way I always have reserve troops for battle. another advantage is you are less likely to lose big amounts since if your 1st 1/2 lot is wrong trade then you loss is only half...
It sounds like we trade in an opposite way, but both pull pips out of the market . I never use limit orders, and always use a Stop just in case a flock of Black Swans flys overhead. I'll post a chart of what i do, it's pretty simplistic, but what I do is get in on the lower timeframes in line with the 1 hour. I never risk more than 1% and divide in to 3. I take 1st TP at 1:2 or 3, between 1:4 or 6 and exit the other on a trend reversal. I add on the way up at each new signal to hopefully compound the last lot, but have been paid on the way. I believe in testing the market too.
Many pips to you.
Attached Image (click to enlarge)
Click to Enlarge Name: nz ex.jpg Size: 67 KB
FF journal: Peaks and Troffs
  • #1,466
  • Apr 17, 2013 4:32pm Apr 17, 2013 4:32pm
Chart in the last few days is almost an exact replica of the S&P 500,

Nothing to suggest that the overall upward momentum in both will not resume, since the basic situation has not changed fundamentally in the US.

It should present more selling opportunities as time progresses.

Will be looking to sell into the rallies and wait for news on the US and its QE cycle. Those shorts will be held beyond the current range.
Money never sleeps...
  • #1,467
  • Apr 17, 2013 5:46pm Apr 17, 2013 5:46pm
Quoting Davit
Patience It took me over a week to close 760pips gain. .
The truth, patience is the first and maybe the only rule in trading

My shorts still running but I prefer not to take any newers in a amorphous markets as now.
  • #1,468
  • Apr 17, 2013 8:04pm Apr 17, 2013 8:04pm
Short. TPs adjusted for common sense.
Attached Image (click to enlarge)
Click to Enlarge Name: nnz.jpg Size: 68 KB
FF journal: Peaks and Troffs
  • #1,469
  • Apr 17, 2013 9:08pm Apr 17, 2013 9:08pm
Quoting pcca-matrix
The truth, patience is the first and maybe the only rule in trading My shorts still running but I prefer not to take any newers in a amorphous markets as now.
You are 100% correct.Markets go in cycles and usually you don't see an obvious opportunity everyday hence patiently waiting for right set up is critical for maximum gain.
I made 820 pips this month trading only the Kiwi.I increased my account by 30% and my monthly goal is 10% hence I can wait an entire month for right trade and when it comes I will load it up for another monster gain.
They are traders (I used to be one)sitting in front of PC all day for 10pips.To me that is wasted precious time that can be spent pursuing other things in life and family time.
I learned to avoid trading Euro most manipulated currency and the yen.To me staying away from these currencies have been immensely profitable.
One has to decide what kind of trader they want to be and work towards achieving it.
I firmly believe if you can conceive it in your mind then you can actualize it as well.
regards
In trading, you have to be defensive and aggressive at the same time
  • #1,470
  • Apr 17, 2013 9:10pm Apr 17, 2013 9:10pm
Quoting bogus
Short. TPs adjusted for common sense. {image}
You may have entered too early.Good luck friend
In trading, you have to be defensive and aggressive at the same time
  • #1,471
  • Apr 17, 2013 9:18pm Apr 17, 2013 9:18pm
My entries were comical this evening. I had a short on U/J that was nicely profitable. Closed out, switched over to look at NZD and AUD and managed to short at the very bottom of the false breakout on both. Haven't closed them yet but am now worse off than I was before I entered my U/J short. Such is life.
  • #1,472
  • Apr 17, 2013 9:23pm Apr 17, 2013 9:23pm
Quoting Davit
You may have entered too early.Good luck friend
You are right. I closed out for -10pips
FF journal: Peaks and Troffs
  • #1,473
  • Apr 17, 2013 9:27pm Apr 17, 2013 9:27pm
Quoting AtiNZ
My entries were comical this evening. I had a short on U/J that was nicely profitable. Closed out, switched over to look at NZD and AUD and managed to short at the very bottom of the false breakout on both. Haven't closed them yet but am now worse off than I was before I entered my U/J short. Such is life.
Well at least your staying upbeat bro.

For me nothing is exciting until we head back up to 0.85

Im watching US equities to see if the recent drop is made back tomorrow. I expect weakness in May (sell in may) which could carry through into this pair and send us down considerably. It is going to happen at some point its just a case of trying to hook on the orders as high as possible first. closed off twice already on shorts placed quite high because I don't think we have seen the last of the bulls yet. Im hoping for one more climb and being that we are entering late April I will likely hold these ones if I get them for the longer term. (well as long as I don't watch since I always crumble and close too early if I watch the screen)
Money never sleeps...
  • #1,474
  • Apr 17, 2013 9:29pm Apr 17, 2013 9:29pm
Quoting AtiNZ
My entries were comical this evening. I had a short on U/J that was nicely profitable. Closed out, switched over to look at NZD and AUD and managed to short at the very bottom of the false breakout on both. Haven't closed them yet but am now worse off than I was before I entered my U/J short. Such is life.
Do what I do.Place limit orders at key places and stop messing with it.If gets triggered then you are in ideal "zone" not bottom or Top depending on direction.
Control your urges specially greed factor.
In trading, you have to be defensive and aggressive at the same time
  • #1,475
  • Apr 17, 2013 10:07pm Apr 17, 2013 10:07pm
Quoting inpatient
I could have written that myself and it would be true. I spent most of last year glued to a screen looking for trends, breakouts, ranges etc Maybe the equivalent of 60 hours each week and to the point that my wife was becoming very frustrated. Net result was negative and for the amount of time invested it made zero sense. I count myself as an intelligent guy and I was not about to continue on that plan. Im amazed by people that can day trade and scalp profitably over the long term. It is not for me and now I will only enter a trade that I know will...
Stick around brother we think very similarly almost exactly.To me only 3 pairs worth trading that is less manipulated. UCAD,NZD and the Aussie.These pairs have limited range and that can be used to our advantage.
I also trade without SL but will take a loss if I am totally wrong.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,476
  • Apr 17, 2013 10:07pm Apr 17, 2013 10:07pm
Quoting inpatient
I could have written that myself and it would be true. I spent most of last year glued to a screen looking for trends, breakouts, ranges etc Maybe the equivalent of 60 hours each week and to the point that my wife was becoming very frustrated. Net result was negative and for the amount of time invested it made zero sense. I count myself as an intelligent guy and I was not about to continue on that plan. Im amazed by people that can day trade and scalp profitably over the long term. It is not for me and now I will only enter a trade that I know will...
Nice
FF journal: Peaks and Troffs
  • #1,477
  • Apr 18, 2013 7:06am Apr 18, 2013 7:06am
Looks like NZD/USD getting strong support at 0.844. I wish it can go down 0.84 by the end of this week.
  • #1,478
  • Apr 18, 2013 8:33am Apr 18, 2013 8:33am
This could become the stalemate breaker
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #1,479
  • Apr 18, 2013 9:09am Apr 18, 2013 9:09am
Quoting namitak007
Looks like NZD/USD getting strong support at 0.844. I wish it can go down 0.84 by the end of this week.
get ready you might see 84 next 1 hr
In trading, you have to be defensive and aggressive at the same time
  • #1,480
  • Apr 18, 2013 1:21pm Apr 18, 2013 1:21pm
Quoting Davit
get ready you might see 84 next 1 hr
let's celebrate .84
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