[QUOTE=“ILovePizzaMore;482256”]
Well that should help your nzdusd long a little bit… Trade balance came in above expected, saw a knee jerk reaction up by about 10 pips… I think further gains will be limited though until BoJ.[/QUOTE]
Yes, it’s about 10 pips in profit.
So how could the Boj statement affect Nz?
[QUOTE=“piptronix;482258”]
which boosts their imports which boosts demands for commodities which
[QUOTE=“ILovePizzaMore;482259”]
Two fold… BoJ stimulus boosts their economy which boosts their imports which boosts demands for commodities which boosts NZD exports which boosts demand for the kiwi lol… Essentially the better Asian economies do, the more trade Aussie and NZ do.
Secondly, Japanese investors will be seeking higher alpha which NZ and Australia can provide, so investment seeking capital flow will increase into the kiwi.
The question is will the BoJ be able to meet the high expectations that are coming into this meeting…[/QUOTE]
You make it sound so easy I almost said ‘I knew that’ . Makes sense, thanks.
So, two questions:
What exactly are we looking for in this statement?
And do you own a yacht ?
[QUOTE=“piptronix;482260”]
You make it sound so easy I almost said ‘I knew that’ . Makes sense, thanks.
So, two questions:
Ilovepizza, fundamentals are an interest of mine and I use as a support/bias for my technical setups. I know that’s considered a sacrilege on this thread however I was just wondering why you only go for 10 pip gains? Surely there are some very basic technical systems that could yield 10 pip results with less work. Given the amount of knowledge and information you need to absorb on a regular basis, would it not make more sense to go for larger wins?
Bitterseatrader…
[QUOTE=“ILovePizzaMore;478327”]
I use pretty small TP’s for a fundamental trader, 10
So are you hoping to one day raise the bar and be able to trust in your analysis enough to go for longer wins? Don’t take this question the wrong way but as you said yourself you can obtain 10 pip gains from the noise in the market. Hence given the level of work your putting into your strategy, I am wondering if there is a goal here or are you happy with 10 pip wins?
Ok, I just did a bit of research, I’ll keep it short so let me know if I’m completely wrong here.
BOJ initially had their inflation targets set for 2% within two years, but that seems like a tall order since their CPI for March came in much lower than expected.
This statement will tell us about the direction they plan to take in light of this, in other words, will they adjust their targets.
But we don’t know the value of each pip in his real account, now do we?
$10 win = $1 per pip.
That’s what he is using for this journal, yes. I’m assuming he has another account.
<shrugs> maybe he does… I am not assuming anything, just asking questions out of interest.
Bitterseat,
I’m also technical, fundamentals are fairly new to me, What i’m trying to do here is gain an understanding of how fundamentals affect the market in relation to how I trade technically. I’m lazy to post charts but I did mention that my technical setup is divergence with an oscillator on the one hour chart.
I don’t think ILovePizza will mind if you discuss your technical setup here, so post away. It will be interesting for me as well.
Cool,
Which State are you from?
[QUOTE=“piptronix;482273”]Ok, I just did a bit ofThe other signal that I will take for a trade is a 40ish pip knee jerk reaction at the release of the statement… Followed by a quick rejection and
[QUOTE=“Bitterseatrader;482272”]
So are you hoping to one day raise the bar and be able to trust in your analysis enough to go for longer wins? Don’t take this question the wrong way but as you said yourself you can obtain 10 pip gains from the noise in the market. Hence given the level of work your putting into your strategy, I am wondering if there is a goal here or are you happy with 10 pip wins?[/QUOTE]
No this is my system… 10 p
I just closed my long NZDUSD trade for 20 pips profit.
I’m done for the week, but I’ll follow along.
Thanks mate, likewise I am also trying to build my fundamental knowledge base. Fundamentals do drive the market, kind of like a company’s third quarter update drives it’s share market performance. However, unlike fundamental analysis of the share market, I find interpreting economic information a bit more difficult.
Ilovepizza has previously directed me to a few different central bank report sites but putting it all together into a working model takes time and experience. Hence my questions about going for larger pip wins.
can’t argue with results mate
I am from the north coast of NSW but now live in Sydney. Aussie?