Hi Jan,

Merry Christmas, Excellent thread. I am in aud/jpy and looking for similar zar/jpy or kiwi/yen.

I understand the idea and believe for a newb its a good way to cultivate our caps prior to reaching other high risk currencies.

Did you since nov? If yes, how's it doing? Will be good to hear from you.

Your swap needs to be about your funding by today I guess, kaching!
Well.

First I have to emphasize that I am still demoing, and it's not real money right now (that is awful at the moment, since I would have made a healthy profit), however there will be chances within the next year too.

I have to say, that previously I made some stupid choices, and tried to get as much out as you can, without any regard, to risk. First I went 3 lots, once I made over 2500 EUR on the 3 lots (beginning capital was 5000 EUR). It was great having the value of NZD growth and receiving high interest at the moment. So of course, if we are profiting, why don't you profit more? I went and bought 5 lots of NZD. I figured since I was 2500 EUR in profit, the profit could cover a possible loss, but was at precisely the exact same time convinced that NZD will still continue to go up.

Properly the transaction turned against me, but I could afford to wait it out. After about a week, I had a negative balance of cca. 2000 EUR (since 5 lots weighted against the profitable 3 lots heavily). I shut the transactions and chose to cut back my lossess.

If I would stick it out, I would have a huge profit by today, but when the NZD would not rise again, I would have lost all.

This combined with a few other stupid things I did, reduced my account to 1500 EUR.

That is when I decided to begin playing by the rules (money management, stops, assess the currency pair, in regard to what will happen with it in the future, etc.). This is how I chose I use right now and this is the greatest problem of all - impatience and Greed.

Since 17th of November I've been playing by the rules, and so far I've an account (in open transactions) of cca. 2300 EUR, that is the that I've been planning for. I am scaling up in to trade, therefore additionally covering together with the already made profits.

I wonder what will happen with the real money, but I believe I learned my lession. Getting wealthy if not an option, losing all immediately to it is. Play your cards right, minimise risk and keep profit is the secret. Greed is the killer of all.

I can not wait to start. And I have to say I really like NZD/JPY pair, have done two transactions on AUD/JPY too, but since I said I am more concerned about those 2 transactions turning against me, but it's covered so far.

Regards, Jan