USD/JPY. It’s been going as per my estimations so far, so that’s what I would go with.
I think it is XAUUSD. The year of 2020 must be one of the best years for Gold because trends and pullbacks are especially pronounced and more predictable. Gold benefits in times of turmoil and this says it all.
Sounds great but I can’t afford to trade that.
XAU/USD- Gold won’t let you down. Goodluck
EUR/USD Euro is keeping hopes high this year. Let’s hope for the best
Yeah it has pretty wild volatility. I think trading with low leverage or betting small amount you will be able to make profit on Gold even with random entries. It is possible due to high volatility.
Oanda is telling me because of regulatory measures I can’t trade gold in the U.S . Do you know if thats entirely accurate?
I don’t know anything about that
never trade one instrument
AUDUSD. It’s the pair I cut my teeth on.
@S1ckerthanS1ck I’m on oanda and I thought they provided US traders a way to trade gold and silver unleveraged. Can’t trade CFDs as US citizen though.
Although I’m new, USD/JPY is what I’ve been learning. I’ve watched my mentor do well with XAU/USD but I can’t afford to do that on my account yet. But one day!
It would never happen. NZD pairs have been the most profitable for me over the last 6 months - Oh, and USD/JPY, which is strange because I just cannot get my head around GBP/JPY or GBP/USD.
BTCUSD tends to offer huge moves and volatility…
@lneely neely U.S. residents can trade CFD’s you just need to switch brokers. You can trade anything on Think or Swim ,Ninja Trader, AMP , Tradeovate, Webull. If you want to stay on the mt4 arena & have higher leverage look into these broker’s…Tradersway, LQDFX, LMFX, Hugosway, Uniglobe, FXGlory
I used to be enamoured with the whole specialisation and get good at one market thing
And there is a point in that, but markets are ever changing and what performed well one year might suck the next.
Im aware that many on this forum are day traders and scalpers, so do understand the idea that one market makes sense.
But sometimes we need to step back and take in the picture - even if your a scalper.
That means following the macro environment and figuring out where the money is going to flow next.
Let’s say your a scalper on the Dax, but now with Europe going into a debt deflation company earnings are not going to be good - that will affect you even intra day - the moves won’t be large
Meanwhile another market (let’s say the nasdaq) is attracting flows because of innovative tech and the moves intra day are huge.
Knowing which market the flows are going to (regardless of the timeframe traded) are what separate the average traders from the market wizards
A lot is said about only trading technicals, but you miss so much when you ignore the world and concentrate solely on one pair on a five minute chart.
This forum maybe for beginners but that doesn’t mean we shouldn’t reach for the stars and try to become market wizards
Unfortunately trading one pair I believe hinders that progress
Jeez! You are holding a gold buy that is 33year old?
If there’s a way to do it unleveraged, Oanda got me beat cause I cant find anything other than forex pairs on the charts.
@S1ckerthanS1ck sorry I could be mistaken. May have been thinking of a different broker.
Yes. That is what comes from five year cycle planning, and long term “dollar cost averaging”. I know that an eight times increase is not much after 33 years, but that very long investment over the years that was supposed to constitute between 5% and 10% of our wealth has become over 20%. That’s less to do with the increase of gold and a lot more to do with the last decade of low value property that we chose to invest in 14 years ago. And then there is crypto