what do you do on the weekend?
and is eur/usd a easy pair to follow and profit from
I usually sit back and analyze what I did wrong the past week and wait for 5 pm on Sunday, lol.
While EUR/USD is the most traded pair (liquid), I definitely wouldn’t say it’s more or less profitable than other pairs, otherwise that’s all I would ever trade. It does usually have one of the lowest spreads with most brokers though.
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thanks bud for the reply any tips going foward im going short on sunday if i get 25 pips im out
what are your favorite to follow or do you just focus on TA only
I don’t really have any favorites. I usually keep my eye on the major pairs (about 30) along with some of the commodities…anywhere I see opportunity. Some say to focus on just one or two to get to know them, which is certainly not bad advice.
So, out of curiosity, why did you choose to go short on this pair Sunday?
ive been getting pretty good on Technical Analysis and i have 3 confirmations broke resistance 3 in range for a reversal i could be wrong but that is my opening strategy ive also been following news on the ecb it looks pretty good to go short
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every major pair is good enough but we have to trade all others which is very supportive to increase trading performance very rapidly.
i really like the jpy pairs but dont understand the conversions on my broker are in yen so i dont trade them the loss and gain is in yen
which trading strategy you are using ? do you scalp or not
which kind of broker are you using right now
i consider myself a day trader but im in and out every 25 pips and as strategy i use fibonacci b bands and pivots with quarters theory
im using ig forex broker
Whatever currency exchange rates you trade, the profit or loss should be in the same currency as you opened your account in. Realise that you are not buying or selling currency - you are placing a bet with your broker whether the exchange rate will go up or down. He isn’t buying or selling any currency on your behalf.
As far as EUR/USD goes, I don’t day-trade but I hear that it is the most prone chart to false break-outs. So many people are trading this with so much money long and short that any price move in either direction immediately kicks off a bunch of profit-taking. The daily chart is certainly usually un-trending.
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thanks for the info Tommor like i said i am just starting out and new to this but from what i understand as long as you use the right tools you can be successful i am hear to build my knowledge with a community any input is welcomed
and im only sticking to euro usd and gbp
They’re a good selection with narrow spreads and plenty of activity.
GBP is very subject to how Brexit talks continue so expect a lot of volatility as the markets digest what Boris Johnson and the EU negotiators say. Remember the UK government is now committed to leaving the EU on 31/10 - without a deal if necessary. The more certain a no-deal Brexit looks to the market the worse for GBP, but the actual no-deal Brexit could cause a relief rally after 31/10 if the markets conclude that all the bad GBP news is now on the table and risk should not now increase any more so than for any other G7 currency.
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i understand that but if you look at the earning reports uk holds alot of the trading sone in the union by a majority they will still be in a very healthy economic state
i also know that trump is trying every thing in his power to weaken the usd but very unsuccesful almost imposssible
Yes that’s true. The UK had the fastest growing economy in the G7 on the date of the EU referendum, in fact the only large economy that was growing appreciably. And there is so much trade between the EU and the UK that neither partner will stand by while this is allowed to die. But cross-Channel trade could be sick for a very long time until it recovers.
I won’t be making a move on the GBP before the market does.
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