AUD/USD it is then.
Copper. 100%. It’s totally cyclical. Huge ups and downs and the volatility (trading potential) that ensues.
nzd/chf ,or any pair with 0 or positive swap,trading system oriental
Interesting choice! I haven’t traded copper ever, but I’m assuming it’s pretty similar to trading the currencies? Are there any particularly helpful indicators when it comes to trading copper?
Oooh. Makes sense. Is this pair what you’re trading right now?
Yup, I personally find trading copper to be just like trading currency pairs. No particular indicators to look out for. Just don’t trust the RSI as movements in copper price can be extreme and long, leaving it overbought or oversold for long periods of time while the indicator is trying to tell you that it should change direction soon.
If I had to choose one market , though this is unrealistic, it would be the most versatile one. So it would be the one with the highest volatility, with equal propensity to move in both directions, upwards and downwards.
Volatile markets offer the most movement, the biggest bang for your buck if you like. And there are certain strategies which only really work well and profitably with a volatile instrument. But such markets are not always so extremely volatile - there are periods across days and weeks and certainly across hours of the day when they are pedestrian, and its always possible to find and trade these.
e.g. GBP/JPY
Oh wow. Extreme and long movements sounds a lot like “cha-ching $$$” to me. Hahaha. Maybe as I get more experienced, I could also explore trading copper to get in on some of those pips!
Definitely! Haha. It’s pretty hard to choose just one, especially for full-time traders who trade multiple pairs at a time. But also agree with picking a versatile one.
Interesting. I’ve been reading around and saw that it’s really quite a volatile pair. Would you say it’s more volatile than GBPUSD?
Yes, over the long run, its the most volatile major, and only 5 of the 28 leading pairs are more volatile - and 4 of that 5 of them are Australasian: the exception is CAD/JPY.
But my argument is that if you want a market on which to do everything, that market must have as many inherent capabilities as possible. So if you can only buy one vehicle to get from A to B, and you wonder if you might need to take 3 friends with you one day, then a motor bike is the wrong choice.
Ooooooh. That makes sense! Now I get it. So GBPJPY meets more of the other requirements compared to GBPUSD. Thanks for the explanation!
I would go with EUR/USD or USD/JPY. I will just stick to a major pair for sure.
DAX if only one. 8am UK time has been good for me often.
Boring boring (how I like my trading) but I’d go with EURUSD all day everyday.
It’s everyone’s favorite!
Cliché but it is so for a reason.
Actually, same here! I can’t really remember which pair I chose in the beginning, but recently, I’ve been trading USDJPY and EURUSD more and I’ve been getting more profitable results.
This kind of boring actually sounds fun, especially once it hits your TP. Haha. I hope you’ve been bagging a lot of pips cash!
It’s tough love for me.
Punchy markets are a playground once you know how!