Many currency pairings involving the GBP are quite popular with traders around the world, but some combinations are less popular than others. In spite of its stability and spread the GBP/NZD currency pair remains relatively undiscovered when compared to others like the GBP/USD and the GBP/EUR. I decided to take a look at the rhythm of this currency over a period of several weeks, and I have come to the conclusion that this pair represents one of the best possible opportunities to earn great returns. I’ll outline some of the bigger points that I think are relevant to those looking to trade the GBP/NZD.
Like most currency traders, much of my portfolio was concentrated on the GBP/USD and the GBP/EUR currency pair. While these are relatively steady pairs, they’re very commonly traded and there is little new ground to tread here. Most of my positions on these pairs yielded middling returns at best, but after refining my approach I managed to obtain positive returns nine straight months in a row, with my total monthly earnings exceeding £1,000 from a much smaller initial fund.
While this seems rather hard to believe for a lot of traders, this wasn’t quite as hard as some people made it seem, especially since people regard less-traded currency pairs as being too much of a risk. Keeping my trades firmly rooted in the facts, coming out ahead didn’t prove to be too difficult a task. And with my initial success came a determination and drive to do better.
My streak with the GBP/NZD occurred between October and November 2015, which is one of the better times to trade currencies. It’s understandable to be sceptical of my claim, but if you stick to your guns and play your hand smart, you can make it happen again and again. Don’t expect it to be a regular thing, but it will never happen if you don’t try.
I don’t want to give the impression that this is was an easy profit to obtain – I had an earlier losing streak that lasted for several days in a row and cost me several hundred pounds. In spite of my feelings of dejection I pressed on, and after re-assessing my strategy I managed to turn around my losses, even managing a £400 gain in 24 hours. That gain came off of just a £75 initial investment, so it was quite a tidy return. It’s easy to want to give up when things get rough, but even the best traders have rough patches. After that turbulent period, the GBP/NZD is now one of my most consistently positive investments.
That’s my own story surrounding the GBP/NZD currency pair – hopefully, it gives you some insight as to what goes on in a trader’s mind when they commit to something new. Betting on a less well-known currency pair can be a scary thing, but with time and practice, you can make it a very profitable venture. Just make sure you’ve got the funds and the patience to make it work!
Spreadbetting, CFD trading and Forex are leveraged. This means they can result in losses exceeding your original deposit. Ensure you understand the risks, seek independent financial advice if necessary. The value of shares and the income from them may go down as well as up. Nothing on this website constitutes a solicitation or recommendation to enter into any security or investment.
Alexander Bowring is a London based writer and a Southampton Solent University Screenwriting graduate. He has worked alongside TV personality and Telegraph feature writer Alison Cork, whilst also having produced content for ITV, This Morning, Canvas8, Who’s Jack, Alison at Home, and Bonallack & Bishop Solicitors. Alexander also has a keen interest in investments.