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Suffering some initial damage shorting NZD

AdamFx42 Publier 9 aou  dans #Trader's blog #NZD #Short #Interest Rate #Rnzb
I have been trying to build up short positions Nzd since yesterday
I was right about GbpNzd being a dangerous position to go long on,
my SL was hit on this pair after GbpUsd broke below 1.30, and Nzd is not weakening as expected
I thought that i was selling Nzd at appropriate levels - below resistance,
but Nzd pairs I was selling showed a lot of strength yesterday,
and my account was being dragged down quite dramatically
At one point - last night - I was fed up, and willing to throw in the towel…
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2 Commentaires
FXRabbit avatar
FXRabbit 9 aou

I am not trying to scare you but I just wish you to be cautious here. For example, the AUDUSD only had a momentarily slippage when they had their interest rate cut. Horribly, the pair has only gone upwards since then making a new 3 months high today. So what if the same occurs with the NZDUSD or any other pair based on the news of interest rate cut or hike. Trading with the anticipation of fundamental news can be very profitable but can also lead to disaster. I am a prime example of how miserable days I have had in the past with making these same kind of trading mistakes and lost tons of $$$.

AdamFx42 avatar
AdamFx42 9 aou

I know

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Rate cut for Kiwi looks likely

AdamFx42 Mis à jour 7 aou  dans #Trader's blog #Rate Cut #Short NZD #Wednesday #Rnzb
A rate cut by the RNZB looks likely on Wednesday evening
After the RBA rate cut last week, it is likely that New Zealand will follow
Interest rates are at 2,25% and will probably get lowered to 2%
Nzd is quite low against the Usd already - and a rate cut for Aud did not hurt it too much
I guess I will be building up shorts towards the decision,
because with all that is going on in the world the chance of a rate cut is very high
I do not expect NzdUsd to fall a lot though, and I will be careful t…
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