To quote you, "this is so much speculative bullshit.", oh no wait, you're probably going to tell us your bullshit is far superior and smells of roses!
huge slippage on IDEALPRO
- Thread starter KS96
- Start date
To quote you, "this is so much speculative bullshit.", oh no wait, you're probably going to tell us your bullshit is far superior and smells of roses!
Trading the EUR/NZD is harder than it looks. And no, it is not a trending pair... not by a long shot. Its spread is very wide: 10-15 pips (unless you trade it synthetically), it is incredibly volatile, and it can turn around on you without even the slightest warning (price action will tell you nothing). It literally moves faster than some of the blue chips out there, which for the forex is a big deal (especially with leverage).
If your charts had included a longer, daily time-frame, you'd have noticed that most of the EUR exotics are highly ranging. Why? EUR/NZD being a ranging pair indicates that EUR/USD and NZD/USD correlate over the long term, since EUR/NZD measures the relative strength between the two. This means that you would have to analyze EUR/USD and NZD/USD individually and then determine the direction EUR/NZD would take... A lot of effort for little reward.
Good luck with that 200 MA.
If your charts had included a longer, daily time-frame, you'd have noticed that most of the EUR exotics are highly ranging. Why? EUR/NZD being a ranging pair indicates that EUR/USD and NZD/USD correlate over the long term, since EUR/NZD measures the relative strength between the two. This means that you would have to analyze EUR/USD and NZD/USD individually and then determine the direction EUR/NZD would take... A lot of effort for little reward.
Good luck with that 200 MA.
Quote from cabletrader:
Here you go pee_wee_trader, I've finished for the day and had a few minutes to spare....
See, some lovely trends, don't tell me you can't see them!
Hope it helps
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Way too much analysis goes into trading forex, it's really not as complicated as some people like to make out. EUR and NZD crosses are no different than a lot of other pairs, technically 'correct' on pretty much all time frames with some beautiful trends developing, and as for them being volatile well that's what some forex traders thrive on, volatility.
Seriously, you can't see anywhere to draw a trendline to trade off on those charts, really?
Those are daily charts but zoom out as much as you want, Eur/Nzd mid 2004 to end 2005, end 2005 to mid 2006, mid 2006 to mid 2007, start 2008 to now......all tradeable trends with something as basic as a trendline. Look at the weekly, same again, beautiful trends. What do you need, an invitation in writing?
How do you mean 'good luck' with it, the 200 MA is a significant technical level. Aside from that I've got to have something on the chart to make it look at least a little bit technical! Maybe I need to add some other analysis, perhaps a few oscillators so it looks complex, then talk about synthetics and blue chips to complicate things even further. Will it make my trading more profitable? Well no of course not but at least it will impress anyone who drops by the officeQuote from scexglobal:
Good luck with that 200 MA.
I'm a proponent of the KISS principle, it's worked for me for years and if it ain't broke why fix it
EUR/AUD, EUR/NZD are very different for the reasons already stated.
Btw, trend traders do no thrive on volatility, they try and avoid it whenever they can.
Beautiful ranges, yes.
Quote from scexglobal:
Beautiful ranges, yes.
I'm amazed, you really can't see the trend on this chart, you think it's a range? It's a range alright, in an upward direction between two channel lines
I think you're pulling my leg, right
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lol, wtf, scale that chart we haven't all got 42" plasmas!!!
Eur/Nzd Weekly
September 2001 to December 2005.....a 4 year trend, is that not enough for you! Jeez, you guys are hard to please
Eur/Nzd Weekly
September 2001 to December 2005.....a 4 year trend, is that not enough for you! Jeez, you guys are hard to please
I dare you to apply 1:3 leverage into that thing.
Quote from short&naked:
I dare you to apply 1:3 leverage into that thing.
Heck no, not me, I'm a short term scalper! 4 minutes is too long for me let alone 4 years!
I don't trade trendlines either, in fact I rarely even trade in the trend direction but that's beside the point
And come to think of it I don't usually trade Eur/Nzd either!
I don't know why I'm replying to this thread actually, I don't even trade with IB! Guess I must have been bored at the time.....
Quote from cabletrader:
To quote you, "this is so much speculative bullshit.", oh no wait, you're probably going to tell us your bullshit is far superior and smells of roses!
I guess you are a follower of the great philosopher Forrest Gump: to each his own ca-ca smells sweet but do not be fooled by this.