Hi guys and girls, as the title topic suggest i was just wondering what currency pairs you think are best for part time traders like myself that hold trades from few days to few weeks. I find that with the two systems I’m currently testing out on demo when I actually get time don’t work so well on volatile currencies like EUR/USD . Just wanted other traders thoughts on this
well how do we answer this quesiton ?
well i could initially say that IF YOUR RISK IS CALCULATED CORRECTLY you can use any currency pair.
but then you said this…
well , the answer is obvious, is it not ?
- either look for pairs that are less volatile
- of maybe your system is the problem and not the currency pair
I mean, YOU’RE TESTING THESE SYSTEMS NOW… right ?
so, why blame the currency pair if there is a loss, why not blame the system … or both
these are my thoughts
1 Like
Hi Martin, kind of glad you answered because i follow your profile a lot and read alot of what you’ve said on other forum posts, so bit of a fan 
, well what i should of asked really is what currencies do you find trending a lot, because of my lack of experience i haven’t really figured out yet what sorta personalities some currency pairs have yet, but i think that is due to my lack of experience. However, you are right and just need to trial with different pairs. . Also in your opinion what pairs would you say are less volatile?
Also bit off topic but where would you go to do some back testing?
hehe… cool, thanks mate, never really had a fan base before, normally i just get people saying… THE POST ARE TOO BLOODY LONG 
see mate, You’re a champion… YOU’RE ALREADY DOING THE RIGHT THING
look let me point it out for you
You basically already know what to do
i’ve taught many people many things, You’re the kind of student that KNOWS WHAT NEEDS TO BE DONE, but can’t quite figure out the HOW TO DO IT part
see…
but you didn’t stop here (where most would have)
you added this…
so You’re aware of it
and the answer is GET EXPERIENCE
then you said this…
so… YOU ARE AWARE THEY HAVE PERSONALITIES… good Bloody job mate… Awesome
and you also are aware that you need to learn them (that in itself is another thing also) GOOD JOB MATE
so
the answer is this… YES They have personalities they move in a certain wy and you gotta get a feel for them
so don’t trade too many at once
i would suggest do this…
Open all the Majors… just watch them for like 6 hours or whatever or a few days… PICK ON
it’s like picking a candy bar
Pick one that you like… SIMPLE AS THAT
if you it tastes like crap you can always throw it away and try another hehe
see. i didn’t even need to tell you
ok now THE CORRECT QUESTION here is…
What pairs are less volatile compare to EURUSD
ok, GBPUSD is somewhat slower but not by a lot
if you want more slower… TRY AUDUSD (no not because i’m from Australia) it’s because we are laid back and so is out bloody currency hehe it’s lazy , too much beer in it i think
yeah try that
if you want to try other stuff
try Silver (XAGUSD) thats slow
or try US2000 thats’ not bad, it’s faster than silver but still somewhat slow
but see now we are getting into indexes and metals, but give it a try whatever works mate
i have found that forex Tester 2 is ok
i however don’t use it a lot these days, i do different kinds of tests, but most of them are done on MT-4 these days as i’m not backtesting anymore to perfect a strategy or formulate one
i already have one that works
i just tweak things here and there when they need tweaking or if i’m curious about something
but i would say try Forex Tester 2 i didn’t have an issue with it
1 Like
currencies that are better suited for part time traders?
hmm
first thing striking my mind is vehicles/usd
or maybe work/usd
or service/usd?
especially vehicles/usd is a good part time flip speculation. usually a sure winner and sure gains with little knowledge required upfront (not need to learn charts numbers figures stats math news economics for years and in the end fail anyways)
what do you think?
2 Likes
hehe, …
What would the perfect chart(s) for your systems look like?
1 Like
Sorry Martin for the late reply, I’m testing three systems out now, Two are from this site and one from what i have devised myself. Not very complicated, because when i first started i had all the indicators on the screen aha. One of the systems is the “three ducks system” all it has is 60 SMA, seems to pretty good so far on AUD/USD, the other currencies using with the systems are EUR/USD, EUR/CAD, GBP/USD, AUD/CAD. So just gotta keep writing my findings, and tweak system to suit me more if i need to, and go from there i think the next step is. Also my trades are tiny aha, just traded 0.06 of a lot to make sure i stay in my 1% stop loss aha.
All depends n your choice and practice on certain pair that you do on demo . Then it seems easy for part time traders to work on those currency pairs. I will favor major pairs that are good for normal trading one can get a good move any time so par time trader can avail good chance when they are free.
You could go two directions with this. The pairs themselves. I live on the eastcoast USA so if I could only trade evenings I would trade the AUS or JPY pairs. Another option would be time frame. When I first started I traded 4hr bars. I would get up every 4 hrs and check or adjust positions. That way I could trade any pair. By the way, it sounds worse than it was. Once you get used to the schedule its fine.
no problem mate. all good
Part time trading is always challenging, whatever trading instrument you want to use.
hey guys i was just gonna tell you what indicators im using on my systems atm so for the three duck systems is realllllll simple just a 65 SMA over three time frames, real simple but i kinda like the idea of it but i would expect it not to do as well as the rest( fake outs) but then I’ll see what results i get guess and see what pairs work for it, the next system is like robopips SMA crossover system but for bigger times, so more for traders that only have 1-2 hours a day and make one trade a week that last up to or more than a few days( hope that makes sense) , i also use a system thats similar to the SMA crossover system, but instead with EMA’s , and RSI and ADX, and my aim again is the system to hold trades for a few days/ weeks. I also stick to my 1% account stop loss for each trade and theses systems are 1:3 ratio atm, ive also downloaded forex tester 2 but have no clue how to use it haha, also my broker has a auto trading system that works on demo but i need to learn how to code as well to use it aha, but the reason i wanted to use the auto system was so i could test my systems while i was at work then record the data when i get back and do further testing myself too, but this is an ongoing thing and ill be doing my own testing at the moment when i have time in evenings. So this a very brief plan of what i am aiming to achieve
You tube Videos mate… there’s thousands of them
There are a good many of us who trade “Part-time” in that we take longer positions and only look at the charts to see how we’re doing when a trade is in progress.
You trade a timeframe which is suitable for this approach and can easily enter trades using “Pending orders” which enter at specific price values. As long as you also set Stop losses and Take profit levels, which are also “Pending orders” by definition, that will do fine.
Try it out on demo. As long as your analysis is valid, it will work as well or better than “sweating over a screen” every second of teh day.
“Which pair” ? whatever pair you feel comfortable with. positioning of the pending orders is the most important part of this approach.
2 Likes
@robotrades
Falstaff is correct, whichever pair you like, there is no 1 Magic Pair that pays out money like no one’s business. hehe
Just pick one that resonates with you
All the currency pairs work in the same manner. If someone wants to be a Forex trader then he has to work hard for building a strategy for his trades. One more thing, do not try to trade too much. People hear the facts and advices but they do not impliment them while trading. This is the reason for their poor performance.
Just a quick one guys how’s everyone’s trading going ?
Whether you are a part time trader or full-time trader, there are some things that do not get changed. You should pick a pair that you understand the most. It could be any pair. Every pair has its own specific characteristics. You have to give time and effort to choose a pair that suit you. I personally like GBPUSD. It suits me the best.