True! I only take it one day at a time. No trade on it today, the set up isn’t right. One funny thing… the pips aren’t as high as I thought. only one tenth I think? 
but still, profit is good!
Hello,
I don’t quite understand what you mean when you say ‘only one tenth’???
Again just listening to the radio (it’s the lunchtime finance report): one other thing that’s contributing to the ZAR’s strength is the weak dollar and WHO KNOWS how long THAT’S going to take to strengthen!!! It’s also another reason (I believe) why Gold is moving the way it is. The ‘perfect storm’ would be for the USD to strengthen, Gold to come down, and long ???/ZAR!!!
Regards,
Dale.
Someone just told me that pip values were one tenth on ZAR so when I thought I was making 600 pips it was really only 60? I havn’t taken time to calculate any of it yet. was just trading a few nano lots for testing it so the wins didn’t have much effect on my account. Still it’s nice to have wins! I’ll figure out the pip thing later when I have time. I’m not used to these exotics…
I see what you mean (although I’ve never thought about it really). Then again: ‘pips are pips’ are they not i.e. would it not depend on you position size??? In other words: let’s say that for a given position size on EUR/USD you were getting say $1 per pip movement then would you not take a sort of ‘equivalent’ position size on USD/ZAR that would ALSO give you $1 per pip movement??? That way: 600 pips on USD/ZAR IS 600 pips if that makes sense (and of course HOPEFULLY $600 in profit)!!!
Regards,
Dale.
sometime today I’m going to get out my calculator and figure that out. but your’e right, pips is pips and as long as they are positive I’m happy! 
in case you are wondering how I was trading that. If you look at my screen print earlier you’ll see a 2sma set to high and low. Since ZAR has been trending down I was only looking for sells. Look to sell when price is near the upper 2sma. target about half way or more towards the other sma.
Notice that most price bars overlap, that is, a bar’s low is usually lower than the previous bar’s high so if you sell near the daily high you are almost certain to make a profit if you exit near the next bar’s low. You can’t know for sure where the high and low are untill after the fact but you can guestimate by comparing to the SMAs
notice also that even in a downtrend you can trade long on the same logic but I think the odds are not as good.
Nice!!! And thanks for the explanation.
I was just looking at something and actually: the ???/ZAR pairs in pips are no longer ‘top of the pops’ you know i.e. the daily movements are nothing when compared to EUR/RUB (currently up for the day by around 1 450 pips) and the ???/CZK pairs (down also by around the same amount for the day). MAN: imagine getting $1 or $10 per pip on THOSE pairs every day!!! LOL!!!
Regards,
Dale.