Trading NON-MAJOR currency pairs?

I was wondering if trading non major currency pairs is a good idea. I been looking at some pairs such as USD/DKK, NZD/JPY, USD/NOK and many others. I see some very good trade setups from those charts. I only trade 4hr and daily time charts also (Demo Account). I haven’t traded these pairs, but looking at the past history I see some very profitable areas of price action that has happened. My question is; should I look past these pairs to avoid future screw-ups or does price action work on any currency pair no matter what???

I trade nzd/jpy all the time. The way I see it is just another graph with more opportunities to make money. Idk about the spreads on some of the other pairs so I would watch out for tht tho

Trade every market you can.

Price action works with any currency. Techical analysis of price action requires a minimum liquidity. But in most of cases, there is enough liquidity on the market.

 "[I]One of the most ILLiquid situations in market history occurred January 15 in some of the most historically liquid instruments of all time (SNB).  When I hear people say some currency pair is not liquid enough to trade I think: "Will they never trade Swiss again?"  If they do, they are simply biased against exotics and not for the reason of a rationally considered evaluation of possible liquidity.[/I]"
  • Some alien looking thing at the bar last night.

Lol Arbitrager This may be off topic, but you seriously look like the actor Andy **** the actor. I gotta liven this thread up lol :wink: Thank you for your info sir.

lol, how’s that been working out for you?

Its remarkable the sizes one can build up trading multiple markets medium to long term. Over 2014, I overtraded my forex account by a factor of at least 6 times and after 1200 or more trades had about a 48% drawdown. I don’t know about you, but I find that amazing.

There is no problem is trading these pairs. As you said you are trading on higher time frame so there is less change of a fake signal. If you can afford the spread on these pairs, then you can easily trade on them.

I take psychedelics, drink beers, and make jokes. If you are into that and trading, find me on facebook and Twitter. Cheers!

P.S. This response was typed at McCoys bar KCMO

I think we would get along just fine.

trading WITHOUT beers should be under punishment. it’s a serious capital market crime. cheers! :58:

I think it all depends on the timeframe you are looking at.

some of the more exotic pairs have ridiculous spreads if you trade lower timeframes so they are not worth it to me.

Personally I trade all combinations of USD, EUR, JPY, GBP, NZD, CAD, AUD as these all have fairly low spreads.

There’s nothing wrong with trading the exotics. Just understand that some minor currencies are manipulated by their central banks like the HKD, SGD or DKK.

That should answer your question. Apply your strategy across the entire spectrum. There is no reason not to trade them, numbers are numbers and you should not really care where you get your pips from. 50 pips in EURUSD or 50 pips on EURDKK (of course 1 pip will have a different value, but I think you get my point). My advice is trade what you can!

If you are trading with a no spread broker maybe. But some brokers are removing such pairs from their plattforms.