Having traded “real money” just over 2 years i have traded all the main pairs so i have gained a bit of experience. Especially for traders just starting it can be appealing, because of its liquidity and lower cost spreads ect. I find Euro/Usd the most awkward pair to trade and might go as far as leaving all the USD pairs alone now.
All pairs with USD ex; GBP/USD USD/JPY EUR/USD and so on,are the most liquid forex pairs,and you find it most awkward because of high liquidity,those pairs can go UP 2-3 hours ,then DOWN 2 days. I guess thats the problem. But before you will leave all the USD pairs alone,think about this’’ what are you expecting from minor pairs ,with low liquidity’’
Trust me,all forex pairs that doesnt have USD,its just ■■■■■■■■,piece of ■■■■,there are not so many reall traders that trade that ■■■■■■■■.
F**k I cant use bad words on this forum,curse those admins. No freedom of speech,as if 15 years old minor virgins will read on this forum…
none of the pairs are black and white, if they was we all be rich though i feel some of the pairs are more predictable, have less false breakouts and more congruence with data. usd/euro has a tendency to range,(not a bad thing) but ranges which are nt worth trading at times…Its manipulated greatly by institutions .
Every currency pair has a time when it is most active. You can base the choice of your currency pair on that. I suggest starting with the major currency pairs like EUR/USD so that you can get an idea about how they work. Once you gain some experience, you can move to the exotic ones.
I checked the MARKET VIEW
Weekly changes: EURUSD -1.41%, GBPUSD -0.99%, USDJPY +1.98%, USDCAD -0.90%
The greenback extended its gains against all of the major currencies. The EURUSD fell to 1.19, its weakest level since November, while the USDJPY reached nearly 108.600, its strongest level since June 2020. The labour market recovery accelerated the dollar gains, which reinforced Federal Reserve Chairman Jerome Powell’s optimism and the reflation trade.
Thanks to the reopening of restaurants and bars, the U.S. economy is gaining momentum and heading into spring on solid footing. But what’s even more remarkable was the upward revision to January’s report. As more Americans become vaccinated, it’s clear how much impact fewer restrictions can have on the economy.
The Canadian dollar held onto its gains due to the positive PMI index reports. Oil prices rose, and manufacturing activity expanded at a faster pace last month. All this is very supportive of the Canadian currency. Nevertheless, while the Bank of Canada will be pleased to see these improvements, Canada is falling far behind the U.S. in COVID vaccinations, which could be a big problem.
The European Central Bank and Bank of Canada monetary policy announcements will be in focus this week.
A slow vaccine rollout, ongoing restrictions, and new increases in Italy’s coronavirus cases suggest that the eurozone will lag behind the U.S.'s recovery.
Progress on the stimulus deal will be the most critical driver of U.S. dollar flows in the coming week, along with February’s consumer price report.
thanks for your feedback,i agree with you regarding becoming familiar with a particular pair or pairs. How ever i dont understand why you feel Euro/Usa[too much traffic ] probably the most appropriate engage in.I wouldn’t touch exotic pairs firstly spread too great. I sooner trade Cad/Euro or a Aus pair
and everyone lived happily ever after
Agreed about exotic pairs, they are quite difficult. Better stick with major pairs as they have better liquidity and less volatile
I wouldn’t say I avoid the EUR/USD but it just never gives me great opportunities, so maybe comes to the same thing.
First off I’m a long-term trader working off D1, trend-following. Best opportunities for me are consistent multi-week trends and the two currencies are the strongest v’s the weakest across as many as possible of each’s 7 major charts. USD can be strong (its moving that way now) or very weak (where it has been so far this year), but its rare to find the EUR very strong/weak when the USD is very weak/strong.
EUR/USD is a pain - seems to reverse every 3 days.
good luck forex4lifetime
You too, mate
thanks for the post, yes i agree it murder, especially for wannabe day traders.There is a fair few on here who follow no nonsense , its the one bit of advice he gives which is interesting
Woo quite exciting! You really got to be either kidding or have spare money in the bank. The USD pairs are comparatively liquid and not saying you’ll always make money with them, but yes trading with them at least gives a satisfaction that you’ll end up making a little profit. I do understand you’re looking to break the monotony. I think you can trade exotics alongside a major part just to be on the safer side.
no im not kidding or been sarcastic, dont like trading usd/euro anymore i wont again, but fair play it a traders choice, that the appeal so much choice Dont trade anything outside the 8 main currencies in Forex not exotic