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Suffering some initial damage shorting NZD

AdamFx42 Posted 9 Aug.  in #Trader's blog #NZD #Short #Interest Rate #Rnzb
I have been trying to build up short positions Nzd since yesterday
I was right about GbpNzd being a dangerous position to go long on,
my SL was hit on this pair after GbpUsd broke below 1.30, and Nzd is not weakening as expected
I thought that i was selling Nzd at appropriate levels - below resistance,
but Nzd pairs I was selling showed a lot of strength yesterday,
and my account was being dragged down quite dramatically
At one point - last night - I was fed up, and willing to throw in the towel…
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FXRabbit avatar
FXRabbit 9 Aug.

I am not trying to scare you but I just wish you to be cautious here. For example, the AUDUSD only had a momentarily slippage when they had their interest rate cut. Horribly, the pair has only gone upwards since then making a new 3 months high today. So what if the same occurs with the NZDUSD or any other pair based on the news of interest rate cut or hike. Trading with the anticipation of fundamental news can be very profitable but can also lead to disaster. I am a prime example of how miserable days I have had in the past with making these same kind of trading mistakes and lost tons of $$$.

AdamFx42 avatar
AdamFx42 9 Aug.

I know

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Looking for a good start to this month

AdamFx42 Posted 1 Aug.  in #Trader's blog #AUD #Trader Contest #Rba #Interest Rate
I am looking to start off well in the August competition
The trade that I have picked out is selling Aud
I expect a rate cut from the RBA, which might come as a bit of a surprise
The economic data support a cut, but not all banks agree with that
Commentary from Australia support a rate cut tomorrow though
So, I am long EurAud, and short AudChf, and AudJpy
gl all
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Switching to AUD longs

AdamFx42 Posted 3 July  in #Trader's blog #Rba #Interest Rate #AUD Longs
I am switching to Aud long positions before the weekend close
I am down to about 50K in the competition now
after I lost a lot in Nzd longs - it all went the wrong way for me
I am now switching to Aud longs - small positions now before the weekend close due to margin,
and I will add to them when market opens again
The reason for Aud longs is that the RBA is expected to keep rates on hold next Tuesday
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FOMC meeting coming up today

AdamFx42 Updated 17 June  in #Trader's blog #Interest Rate #Rate Hike #Fomc Meeting #Us Projections
It could be an important day for traders as the FOMC meeting today will show US economic direction
Traders all over the world anxiously await today's FOMC in anticipation of the speakers;
traders are looking for bullish or bearish comments regarding US economy
Up to now US has indicated to wait until September to start raising rates
and to wait until then to see how current economic recovery holds up
Two major speakers today are expected to be hawkish and a dovish ones,
this could lead to big sw…
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Looking for NZD trades

AdamFx42 Posted 8 June  in #Trader's blog #NZD #Interest Rate #Risk Reward #Rnzb Decision
I will be looking to trade Nzd this week
With the RNZB interest decision coming up on Wednesday the Nzd is an interesting trade
The Nzd/Usd is as low as it has been for a long time, close to 0.7
I expect this level to act as a natural support area for traders
and I will be buying any move towards it for a decent bounce
Also, the interest rate decision is coming up this week for Nzd
Most traders believe the bank of new Zealand will not cut rates yet,
and this should lead to a strengthening/recove…
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Buying AUD before the interest rate decision

AdamFx42 Posted 1 June  in #Trader's blog #AUD #Rba #Interest Rate
I am buying Aud/Usd and Nzd/Usd at these extremely low levels
Aud/Usd because there is the interest decision tomorrow and it is highly unlikely that the RBA cuts again so soon
The decision - to hold the rate - will probably lead to buying,
Nzd/Usd should be supported above 0.7 for now, and I am looking for some kind of bounce here
gl all
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