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[/li][li]Which [B]one[/B] currency pair have you/would you like to master?
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[/li][li]Why do you like this pair so much?
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[/li][li]What session do you find best to enter positions?
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[/li][li]Do you ever glance to see good setups on other currencies?
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I am not attached to any currency pair an always analyze all currency pair according to my strategy. Once I have a trading signal which is confirmed multiple times I trade the currency pair. Trading is not about picking favorites and getting attached to them, you should not care about the currency pair. Focus on executing your trading strategy and trade what is there and not what you want to see. The less emotions you allow to creep into your trading, the better it will be for you.
It depends on the environment. I also don’t get too attached to pairs. These days I’m looking at GBP/USD and USD/JPY for swing trades and commodity dollars (AUD/USD, GBP/AUD, EUR/NZD) for day trades. Whatever works.
@The Last Bear; I don’t attach emotions to pairs as I also trade the best pair that meets the setup criteria of my trades.
However, swap or roll over charges must be in your favor when trading trends otherwise, you maybe seeing more negative profit should there be a correction of the direction of your trade or the trend.
All am saying is that its better to go long for days or weeks on pairs with positive swap and day trade on pairs with negative swap except you have a very large account.
I majority trade with Eur/Usd and it is the best pair for me to trade and it volatility is good and all it need is to practice well in demo account to get the maximum benefit from this pair.
My most traded pair is EUR/USD and GBP/USD .They are fast moving currency pairs where all the time traders find opportunity to trade. We can choose time for us which is good for quick or slow trading . These pairs are my favourite having low spread for open positions.
I think you are right. Just observed my use of words.
Please can anyone assist in giving me links where I can build my own trading strategy without programing it myself?
Like an EA or a custom indicator where I can input my datas or parameters manually to scan for the best pair in an mt4 platform that will meet the criteria for entry and exit.
Thanks folks
I personally watch all important USD pairs, GBP, CAD, JPY, EUR, and AUD. Though I lately steer away from GBP due to the risky nature of it at the moment.
Forex being the number one decentralized market is providing good employment opportunities to the traders today. Major currency pairs are the one which I feel safe. As USD is the most common currency I can work with my desired trading tools and risk management tools here with major pairs.