Any traders from New Zealand here?

[LyallNZ]

Glad to talk about how I trade. Busy now though.
I feel like I have learned heaps in the last few months, especially through losing. You can make a few winning trades and feel like an expert then lose nearly everything on the next few trades. I got to where I would take guess trades. The market would be moving in a direction quite quickly and I would guess that it would keep going that way, so I would take a quick, unthinking trade and it would immediately change direction. Now one of my big rules I say out loud from time to time is " don't be an idiot Lyall". Only trade your system - no guessing. Discipline is the first thing you need to trade successfully, then a system that wins more than it loses. I will tell you about that next week.

[kyuzo]

Hello Kiwis,

Hey Lyall, what time do you trade?

I'm trading full time--both my own account and client's funds. I trade from 8am, after the kids are off to school, until noon. I then take a break--exercise, eat, take a nap, pick up kids from school. I get back on my pc and trade again from about 6pm till 10pm for the european session.

I scalp the one minute chart using stochastics and fibonaccis. Some days are good, some days I learn.

Best,

Jim

[doggie01]

What's up Kiwis !!

I've been learning and practicing for a few months now. I sometimes find it hard to keep it up because of other commitments. I work full time, study part time and run my own business in my spare time

I'm quite addicted to Currency Trading now and looking to dedicate more time towards it. I have a system and keep a journal. Click the link below to check it out and leave some feedback:

My ’So Easy It’s Ridiculous’ System

Not an expert at all but looking forward to going in for real. I've started to look at the times I trade and I'm curious to see when everyone else trades. Recently had a bad trade on my lunch hour and learnt that maybe I should stay away at that time of day

I'm down to share thoughts are strategies. Anyone want to know anything, let me know !!

[LyallNZ]

I trade any time I can. I have a job where I can leave my notebook on and look in on the charts every now and then. Every evening if there is nothing else happening I am trading. If it's the weekend I am reading forums and e-books about trading. I think I'm addicted too.
I have been reading through the Never-lose-again thread and doing what it says. It's fantastic. Mostly I have been trading on each new hour. From open price if it goes up four pips I buy and if it goes down four pips I sell. Just take 10 pips plus spread and get out unless it sky-rockets which it does do sometimes. Last month I gained 63% on a live account so feeling pretty good about trading. Looking forward to see how rich I can get in 2009.
I also trade the Forex Avenger system but that doesn't give many trades a week and they often happen in the night when I am asleep so by morning it's too late.
My own system which is ideas pinched from forums, mainly the pip-nailer way. I have SAR's plotted, an 80 Exponential Average, the AO and AC bars at the bottom. If EMA is sloping down then sell only if up then buy only. when SAR's changes sides and AC and AO change colour take the trade. I am a bit of a chicken though so have another chart set-up with a 10 and a 5 moving average, a 14 RSI and a stochastic 5,3,3. If the EMA 5 crosses the 10, the RSI crosses the lone and the stochastic is pointing in the right direction but not in the over department I definetly take the trade. I don't get many losing trades often taking 30 to 50 pips profit with this system.
Happy new trading year fellow kiwi traders.

[LyallNZ]

I would love to get this thread more active but the Never-Lose-Again thread is taking all my time. Hundreds of pages. Only got 97 to go and I will be finished.

[doggie01]

I too would like to see this thread more active

Where we at Kiwis ??

[LyallNZ]

I forgot to say, i place my trade a 5 pips lower than the last candle on my trading system.
Seems like the kiwi's are all on holiday.
I am happy with yesterday's trading, made back my losses from Saturday and up for the month by about $5. I hate being down. Probably shouldn't have been trading Saturday anyway.

[JDC]

Hi just new to FX Can you advise what FX broker you use and if they are any good?

[nzpenny]

I use interbank and alpari.
Both ok but think I prefer alpari though hate the pipettes!!!

[LyallNZ]

I use a NewZealand broker LatitudeFX and think they are great.
It's great that the balances are in New Zealand dollars. It's great to be able to deposit and withdraw real easy. It's great to be able to phone them and they even invite you to visit if ever in Auckland. Their spreads are reasonable. Their platform is as good as any other ( I use MT4). They don't use a dealing desk so any movements in the graphs are the real thing.
Saying all that I just discovered a great little site called Plus500. They give you $30 balance to start with. Real easy to learn platform with come great features.