Why did I close the NZD/USD with only +5.3 profit? I lost its best momentum on breaking even, as I had opened it on 7th March and it had swung down to about -80 pips.
Governor Wheeler delivered what the market expected but the volatility was still present, so even with the 0.25 rate hike already priced in, there was enough to grab for us.
I hope you all had a fantastic event!
Looking forward to the AUD employment/unemployment data in three hours!
And paid a total of what… something around 30 pips in spreads? What was your escape plan if you had been wrong?
You apparently let one run away 80 pips at one point. Gotta watch that risk;)
Not trying to be a naysayer, it’s good that you did well. I just want to know what the rest of the plan was, and how often you commit to things like this and it turns out the opposite. If you’re going to give us the good, you have to tell us about the bad too.
Hello Kasravi! The week was a little dead in terms of market movement thus I traded the RBNZ event to catch some volatility …I do not specifically trade the news, generally. Just on a break at work, hence a short reply!
Do you log on in your desktop and or laptop regularly to watch/ place your trade? For some reason, when I use my phone or iPad to open up my MT4 doesnt update myfxbook so I have to go to my laptop and open up my MT4. I usually trade via my iPhone so it doesn’t automatically updated it ( I know it’s weird). Otherwise, you might need to check you MT 4 and see if it is link to myfxbook. Sometimes, you have to link it again manually from your desktop or laptop. Try that and see what happen…
I thought I responded to your message… Let me check it again… I’ll email you
No problem, dear PipNRoll. I just bagged 22.6 pips on selling NZD/JPY on a weak New Zealand GDP at 9.45pm (twenty minutes ago), just in time for bed! I am off to dream of pips … I will wake up refreshed and ready to read your e.mail! Good night, honorary FX Woman, PipNRoll!
Hello Huck, thank you! My main news trading approach used to involve setting up straddling buy/sell entry orders using ATR to determine stops and limits; now I trade the news by hedging a buy market order for a news-impacted pair with a sell market order for a related pair (e.g. for an RBNZ event, Buy NZD/USD and Sell NZD/JPY). I will then watch and manage the trades as the market reacts to the news. I have a 500GBP account, so I do not risk more than 1%, meaning that all my trades are 1k lots (about 2:1 leverage). I could tell you more but typing this on my 'phone is slow work!
Well, here we are, the evening of the RBNZ next rate decision… Will they hike it up to 3.00 ?
Has the market already priced this in? In which case, would there be a rally in NZD pairs but no follow through?
Here is a good, short video posted by David Song (Currency Analyst) at DailyFX.com, about the RBNZ rate decision
and possible scenarios for AUD/NZD, GBP/NZD, and NZD/USD:
Well, here we are, the evening of the RBNZ next rate decision… Will they hike it up to 3.00 ?
Has the market already priced this in? In which case, would there be a rally in NZD pairs but no follow through?
Here is a good, short video posted by David Song (Currency Analyst) at DailyFX.com, about the RBNZ rate decision
and possible scenarios for AUD/NZD, GBP/NZD, and NZD/USD:
10% up so far this month…