GBPNZD 17 replies
GBPNZD hedge help 3 replies
Why does NZD carry more weight in GBPNZD? 3 replies
GBPNZD - How do you trade it? 2 replies
Disliked{quote} Huge!! Dollar is really strong overall though, so would be no surprise to see this move back in other direction due to USD gaining back against NZD..Ignored
Disliked{quote} Now don't go talking yourself out of this trade! GBPUSD has more potential than NZDUSD for a big drop , IMO.Ignored
DislikedSurvived the first impact. Now Wheeler is next. Now it is more important than ever to stick to the plan. All my instincts (read fear and greed) just want to claim the profit. My plan is to follow the system and the plan. I don`t want to exit to soon. I still can be wrong and should have taken the profit now. This is what makes trading difficult. When I first entered into the position, as always I took a risk. The risk still exists. I just have to live with it. Again, I choose to follow the plan. I try not to get to carried away, neither positively...Ignored
DislikedSurvived the first impact. Now Wheeler is next. Now it is more important than ever to stick to the plan. All my instincts (read fear and greed) just want to claim the profit. My plan is to follow the system and the plan. I don`t want to exit to soon. I still can be wrong and should have taken the profit now. This is what makes trading difficult. When I first entered into the position, as always I took a risk. The risk still exists. I just have to live with it. Again, I choose to follow the plan. I try not to get to carried away, neither positively...Ignored
Disliked{quote} nice trade, I closed mine before the news, just my personal preference. I miss alot of pips by doing this but also don't lose too many either. I applaud you for sticking to your plan. I'd be somewhat leery of wheelers speech, just my two cents which are worth 1/2 a cent. GL!Ignored
Disliked{quote} R:R 1:3 I think is acchievable. I have support a few pips below it. If this support breaks, I believe that 1:5 can be reached. It could very well turn against me at the 1:3 level. I will consider securing profits at the 1:1 level when price is testing the support at 1:3. Only if the 1:1 level is above the EMA21 line at that moment. {image}Ignored
Disliked{quote} Now you need to reap the rewards, not toss them away. Can the market go up from here and turn this short of your into a loser? Yes. But is that likely, and is there still a huge potential gain ahead if you stay short? These are the questions you should continually ask yourself.Ignored
Disliked{quote} Yes, every traders dilemma. Before going to bed, SL will be set to BE. I can`t lose on this by now. But there sure is a lot of uncertainity ahead. I geared up on this position. Normally I use 4:1. The advantage of trading the GBPNZD is that it is traded 24/5. Tonight that is a little disadvantage for me. I normally rely on my system, but there isn`t enough coffe in the world to take away my nights sleep. So I can`t be monitoring the pos. I am also short GBPAUD. I am considering staying up untill the employment numbers and Wheelers speech...Ignored
Disliked{quote} Now take it a step further and consider what would happen if you added size to your position right now, lowered your stop to 2.0764 and let it run until you see some strong buyers appear (it won't all disappear at once even when they do appear). You see what I'm getting at?Ignored
Disliked{quote} OK, one more thing before I get off my soap box. Get your sleep! A tired trader is an unfocused trader. Not to mention its bad for your health. You did your homework. You have yourself protected. When its time to go to bed, let it go and try to sleep peacefully. Its how you'll make it through years and years of this crazy endeavor of ours.Ignored
Disliked{quote} I read you on that man. It is a way to handle the risk:reward. I must consider what I have the stomach to do. It is all about that. I never do positions that unbalance me mentally. As long as I can have a slightly "i don`t care" attitude towards the position, I am ok. Then the right parts of my brain are making the decisions, in a calm way.... But I understand the thoughts behind your suggestion.Ignored
Disliked{quote} This is really what separates the winners from the losers, IMO. You can't let a loser run along until it hopefully turns, only to get out quickly if it does finally turn. This is letting your fears and greed control you. You were right at a crucial point. Now you need to reap the rewards, not toss them away.Ignored
Disliked{quote} You are so right... sometimes the best thing a trader can do is not look at his trade. Set the break even SL or the SL and just go away, let it play out. The subconscious mind can kick in really easily w/ greed & fear and cause one to take profit early looking at smaller time frames trying to catch every move etc. It usually burns a trader. May add to my short at 2.0539.. if we get there.Ignored
Disliked{quote} Yes and no, I'd say. Yes, setting stop and target and walking away can yield better results, especially for beginners. But it is not the best way, IMO. When you've done this long enough, you figure out at some point that you don't need the trade to play out perfectly to win. I think it is better to know that you might only be partially correct with your forecast, and it'd be best if you watched for signs that you are wrong. I don't mean when the market starts to retrace. I mean when you start to see POWER! Or, you may see the moves lower...Ignored