Any traders from New Zealand here?

[gagan]

Originally Posted by TheJoshWarrior

Hi,
I am from Wellington & trading on minilots so would be interested in joing kiwi group.

Last couple of weeks were good 40-50 pips& loosing today 80 pips but still in trade so let see what happens next.

I hope ur being 80 pips in the negative is within your equity management...i trade mini lots as well and normally dont risk more than 0.5% of my account per trade. That being said if i find a setup very tempting then i might risk 1 or 1.5%

i learnt this lesson the hard way!!!

[TheJoshWarrior]

thanks Mate for reminding me. I am looking at 30-40 pips a day to make 5% for the day. I went short on AUD:USD at 8250 & 8296 so let see if 8336 level serves as good resistance & rejects the Aussie back to loww 8200 or not.

I moved from Napier last Year after spending 4 years in sunny Bay.

i am using FXCM as they are allowing NZ dolar accounts & it is quite good. I have attned seminars arranged by CMC this year & was quite informative & once agian attracted me to this forex market.

[TheJoshWarrior]

i do not use stop but hedge instead. 30 pips form recent hi/low of the day/session.

[gagan]

Originally Posted by TheJoshWarrior

i do not use stop but hedge instead. 30 pips form recent hi/low of the day/session.

ohh...i guess each to its own..i use latitudefx.co.nz ...the spreads arnt that great but its STP and the money stays in new zealand with ASB so yea..

Anyways good luck with your trade..the aussie is trending quite strongly today..

may i ask how long have you been trading?

[TheJoshWarrior]

booked my 50 pips for the day...even when Aussie was bullish & i shorted! there is no permenant feeling in the market - by definition it is market - price will go up & down...i book when i make 30-40 pips for the day.

FXCM is american but they have national bank account so i have account in NZ dollar. if you want to trade all currency why you bother about banking with a particular platform? as a trader my aimis to make my 30-40 pips a day. i do not feel pround if our dollar gains or it looses ground...as such Bollard wants it to go down but big traders are pumping it up...

i traded in 2004-2005 with dail up connection & lost 6K started again now from april & last 3 weeks i am using a new strategyu based on price movement with hedge no bloody technical analysis as such & no stop orders but hedge. i have consistently gain 30-40 for last 15 trading days. still testing

good to hear from you.

[Master Koala]

Hi guys, I'm down here trading in NZ. I'd be interested in being in a trading group.
I've been trading with Latitude FX Gagan, I've not had a problem with their spreads in the majors - Eur/Usd, Usd/Jpy etc... did find the Aud/Nzd and Gbp/Jpy spreads a bit wide a while back - but have noticed they got considerably better recently - so competitive there again. Eur/Jpy was better. Think the others suffered from the 'out of time zone' spreads on the Gbp and Nzd generally. Nobody seems to have any interest in NZD out of our timezone. I normally trade the Aud/Usd outside of our close.

[Master Koala]

Hi there,
Yeah I trade with Latitude FX, and have started to get along well with the guys (and girls) on the desk there. They're on the ball for sure, and you trust the money is safe - which as you say is a big concern.
I think they're only trading with Aussies and Kiwis at the moment, but no doubt you can access the platform from anywhere, and if the funds come from a NZ account - no problem I guess.
I live in NZ, but transfered some USD to them through their GT platform, and was able to set up the account.
Where you living? Being up in Europe/UK or even the USA would be good for the major moves in the market at the moment.
Be lucky!!

[gagan]

Originally Posted by Master Koala

Hi guys, I'm down here trading in NZ. I'd be interested in being in a trading group.
I've been trading with Latitude FX Gagan, I've not had a problem with their spreads in the majors - Eur/Usd, Usd/Jpy etc... did find the Aud/Nzd and Gbp/Jpy spreads a bit wide a while back - but have noticed they got considerably better recently - so competitive there again. Eur/Jpy was better. Think the others suffered from the 'out of time zone' spreads on the Gbp and Nzd generally. Nobody seems to have any interest in NZD out of our timezone. I normally trade the Aud/Usd outside of our close.

Hi Koala,

Regarding the spreads if you look at GBP/USD during london session the spreads are usually 5 pips which is quite high for this pair....when i was with MB Trading the spread incl commission was only 2 pips or 3 max!

This 2-3 pip difference might not seem big but recently i have been stopped out of trades cuz of this difference! and if the speard was tighter if would have been a different story...im not really complaining but these small things tend to be a pain in the a*** sometimes!

Anyways enough ranting for one day...wherebouts in NZ are you mate?

[EmmPlusPlus]

Hey everyone

I'm based in Auckland and new to forex trading. Been studying it pretty hard for a few weeks and really keen to get serious.

I plan on reading a ton, trying to get a decent system and test it, and then open a micro-lot account somewhere, and hopefully build up from that.

I'd like to get some dialogue going soon about best times to trade from NZ, best brokers, etc.

Are people here position traders, swing traders, day trader, or scalpers?

Cheers!