5 years ago it was a straight "carry trade" At 40c and a huge interest differential and a small daily volume the funds pushed the kiwi up without too much trouble, to dizzy heights in fact. Now, you need to watch the DX as much as the NZD as it could turn into a race to the bottom with ironically some good long trades on the way. You need tight stops now as both currencies are being heavily manipulated.... one by politics and one by the big funds.
YeahIknow, From what I can ascertain, the NZDUSD is in a primary downtrend and personally I believe it's a little dangerous to go long unless you intend to scalp a few pips here and there IMHO.
To whom it may concern, I am going to be posting my trades of NZD/USD on this thread. Live. So, I promise, within 60 seconds of putting on a trade I will post the exact price that I got in on. And, I also promise, within 60 seconds of getting out I will also post. Usually I'll put stop to B.E. when price has moved a bit in my favour, but I will not be posting that, otherwise I will not be taken seriously. I trade with Oanda (normally a 5 pip spread - ouch..) so the net results that I show are the actual bids that I hit or the ask that I sold to but please note "Feedback is not appreciated" My stop is set at 10 pips + spread. All in, all out. I was going to start a journal but I thought it better to post on the thread that bears the currencies name and compare trades with other traders (mods please feel free to make a refugee of me). I envision making at least one or two trades a day, maybe more, maybe less, maybe none at all if I don't feel like it. It depends, so that is why all this preamble. Discussion on fundamentals puts me in the moron category, I'm only into technicals, and I rarely look at any timeframes longer than it takes to have a satisfying crap - lest my day trading habit get interfered with. So swing traders - "I don't really want to know". I'm not mad it's just that I havn't slept in two days that is all. I'm from Sydney and I think New Zealanders are wonderful people, one of my best mates is from Christchurch (no - not WW although he did invite me to his place the year before last). Well, I gotta catch some sleep, see y'all on Monday. NZDSPeCIALISt
I just realised that posts can be altered within half an hour of them being originally posted (with no evidence of such tampering). Is their a way to "seal" the original post - and that any tampering would be made visible. Otherwise I could alter my posts as i please within 29 minutes to raise my "street cred". I hope it's not the honour system that you guys work with.. NZDSPeCIALISt
Altering them within 29 minutes isn't going to do much unless you're scalping. If you're scalping, none of us are going to be much interested anyway. Id say post your trades. We'll go with the honor system, unless, of course, you're SkALpZ here under yet another new alias.