I started paper trading on Oanda not too long ago after learning some of the fundamentals through the education courses here on Babypips. So far i’ve developed a trading strategy/plan that has been profitable, raising my demo account balance from $500 to $759. Mainly trading USD pairs like USD/CAD, GBP/USD, USD/JPY, and EUR/USD I realized these are the pairs that perform the best with my strategy. I’ve been trying to really focus and learn at least 2 of the USD pairs that have made me profitable although I’m looking for pairs that performs oppositely from the ones I mentioned so that way i’d have other pairs to trade when these are consolidating or when i’ve decided to enter a swing position. Please help me out here and list pairs that are volatile as i’m trying to catch as many pips as I can each trade. Also the times throughout the day where these pairs are the most liquid
AUD, NZD and at certain times CAD?
What I think you should trade might end up being a bad idea.
My suggestion is to go thru every single pair available with your broker.
List each pair whose movement on your TF of choice fits your strategy.
Make your own assessment, since we don’t know what your strategy is or what kind of volatility you’re looking for.
Congratulations, by the way!! Keep it going!!
USDCHF, EURUSD, USDCAD This pair liquidity is suitable. We can work with this volatility. Maximum broker has low spread.
Along with the Babypips School of Pipsology in the Education section (click the education button at top of page), please look into these indicators that will help you for any timeframe for any pair.
and Volume or Volatility?
When you’re looking for volatility its important to realise that the number of pips of movement does not give the full picture. A pip on one pair is not the same level of movement as a pip on any other pair.
The usual measure of ATR, with a 14-day period.
ATR(14) on GBP/USD (D1) is currently 0.00562. That’s 56 pips.
ATR(14) on USD/CHF (D1) is currently 0.00472, let’s say 47 pips.
So it looks like GBP/USD is more volatile than USD/CHF, by about 20%.
In fact, 56 pips of movement on GBP/USD is about 0.41% of its price. But 47 pips of movement on USD/CHF is about 0.52% of its price. So in reality, USD/CHF is the more volatile of the two, by about 27%.
Some people seeking volatility are possibly looking in the wrong places.
Nice @tommor, brilliant way of explaining!
I am also practicing majorly on EURUSD on my demo account.
Personally I think looking at other pairs to trade outside of what is working for you is just encouraging overtrading.
I agree. If something works, don’t complicate it unnecessarily.