If you could trade only 1 commodity/ currency pair/ crypto for the rest of your life, what would it be?

Trading Discussion Trading Lifestyle
81

mine would be audusd, i have no idea why, but it would be!

82

Ooooh. :open_mouth: I don’t really do long term trades, but if you were to recommend a pair for long term trading, which one would it be? :blush:

83

Hahahaha! :smiley: I guess just a personal preference then? No other reason. :sweat_smile:

84

lol or maybe i just wanted to start talking to you and i had no idea how to start lol

85

HAHAHAHAHAHAHA that’s cute. Anyone can talk to me here!

86

AUDUSD. Someone once said it moves at a snail’s pace. They couldn’t be more wrong.

87

Gold or gbp usd

88

Any commodity that does not have USD in it, example XAGAUS, not XAGUSD

89

The Dow in market hours for me.

90

Definitely Gold!
It is a kind of commodity that can be traded in any circumstance. Whether the world economy is declining or enjoys some good days. Whether there is a major crisis in the world economy, or it is just an usual Tuesday.
Gold will never disappoint you with trading opportunities.
It has always been one of the most popular trading instruments, and it will remain the same for the foreseeable future.
Nevertheless, no need to mention that one has to porch it with a very conservative risk-management strategy, otherwise this commodity can hurt your feelings pretty badly.

91

Then I won’t be able to trade as efficient as I would since I couldn’t read the flow of the market. It would be super random and zero sum game in this case. All you can do is pray that your entry method is correct this time. It’s super hard for me to trade only EURUSD for example now that I know how to tell if this pair is going to move or not for this session.

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92

That makes sense. :blush: But just curious, do you currently have a go-to pair and if you do, why did you pick this? Or is it this EURUSD? :blush:

93

I really hope so. Hehe.

No, I don’t have a favorite currency pair. I want to see what currency move via correlation then I would go to that currency. If I want to sell EUR let’s say, I want to see the whole EUR group is crashing down then I pick among them. This way I can know that there’s a high chance the crash will sustain at least for that particular session.

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94

For me… probably AUD/JPY, since I need to keep an eye on that specific exchange rate for my daily life anyways (Aussie living in Japan). I’m enjoying trading the USD/JPY more at the moment though, as there is some potentially historic stuff happening over there in the next few months or so.

95

Ooh. :open_mouth: This sounds very interesting, but also time-consuming. How long do you usually spend looking through the different pairs? :open_mouth:

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96

For the first time, maybe. But once you get the hang of it, it’s not. And if done correctly, your trades run smooth like butter. Hehe.

Not that long I would say. Usually will take around 20 - 30 minutes maybe. After I discovered our in house Marketmilk, it’s even easier now. By seeing the market snapshot, I can somewhat know which currency is moving. It may not be straight forward at times but it’s a good summary to start. Really glad I’ve discovered it. Hahaha.

I’m a NY session trader spend 2-3 hours on a daily basis. I wish I could trade London also but I’m at work. Sad.

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97

I would pick GBP/USD.

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98

Oh wow. :open_mouth: You’re able to look through different pairs within just this span of time? :open_mouth: It’s basically how long I spend looking at 1 pair and waiting for a good entry. :sweat_smile: You must have developed a super efficient system already! :blush:

99

Any particular reason for this? :blush:

100

I would say yes. It’s because my setup is made from flow of the market first and pattern for entry is secondary.

This is what my mentor has hammered down into my brain hahaha. Is that I need to be swift in my decision. I can be wrong, but I shouldn’t doubt myself that I’ve made a wrong decision. This has to be my core personally in real life also. Every one that close with me keeps telling me that “Please don’t trade forex, it’s risky, bla bla bla…”. Yes, it’s true to a certain extend but if I this is what I decided what I want to do with my whole life, then I shouldn’t doubt myself.

If my setup is right in front of me, there should be no doubt. Be patience, filter it further, I need more confirmation, sometimes only means I am not good enough, I don’t believe with myself. Don’t doubt yourself.

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