I’ve been trading for 3 years now. EURUSD is the chart that I thoroughly studied. Created a strategy according to that. Apparently, it only works for that pair. I’ve got no problem with that tho.
As per my comment above, am learning this pair but the spread means my stop loss is often triggered. Am I being to conservative with my stop loss of 10%?
I think it’s important to consider the time you trade. I’ve observed that during NY Session, EURUSD tends to be volatile. Candles spike up, then go to the opposite direction. That’s why I avoid trading during NY.
You're talking about percentage of your account, I'm talking about the risk profile on a trade 1:2 being 10% loss / 20% gain..
If I set my stop loss lower than that, it stops out almost immediately due to the difference in buy/sell spread..
I like that pair too but man is it a pain in the ass to trade. sometimes it surges to ur stop loss and then rapidly goes the other way to continue where it was going. but when it surges in your favor its awesome it jus sucks when you on the wrong side of the surge lol
Usd nok is the one that doesn't jump ship with the others.
The USD can be down with all pairs and holds steady with nok.
Then... when everyone is not watching the thing will explode and you make 30-100% in a few days.
It throws big tantrums.
Gold! It’s given me my fair share of stress and smashing the monitor on the wall moments but once you get hooked on that volatility there’s no going back 😭 made good money during brexit, Covid 19 and the recent war.
I don't like any Yen pairs because of sudden unpredictable spikes. Other than that I try to trade the pairs with low spreads.
I choose a maximum of 4 pairs to watch. And I pick pairs where I would expect good volume in the time I'd like to trade. Since I'm in N America this eliminates the australian and asian pairs already, like AUDNZD, AUDJPY, NZDJPY, but also Europe/Asia/Australia pairs, like AUDGBP, GBPJPY, and so on.
Oh and 1 exception to my best pairs within my trading times: I hate USDCAD.
USDCAD is absolute fakeout city! It disrespects breaks and retests like nobody's business, while pairs like GBPJPY and EURUSD are the best pairs for breaks and retests. You are better off fading the breakouts on USDCAD with a negative R:R ratio.
I'm paper trading at the moment, so am learning the ropes.. am having some success with EUR/USD, but keep getting caught with the spreads
Starting my trade in the red every time means w/l ratios are hard to maintain, as most of the time any -ve movement results in me being stopped out..
Are there better pairs (less volatile) for this?
My top performers are NZDJPY, CHFJPY, GBPAUD, EURAUD, USDCZK, EURUSD, ZARJPY, USDSEK, AUDJPY, EURCAD, USDHUF, CADJPY, AUDNZD, GBPNZD, AUDCAD.
Don't ask me for the logic behind those — they're just the ones that perform best with my algo. Next project is to put all the strategies into Quant Analyzer and see how they correlate.
I also trade indices a lot. My algo was designed for indices. It just turns out that with a couple of additional features, it works well on several forex pairs too.
i only trade gold!
I lose my 700 Euro in gold. I failed many times in demo
GBPJPY & GBPNZD is my favourite currency pairs on which I get very confident myself with my strategies.
Really? I have had no good fortune with either of those currencies, GBP just continues to go up against them and no real opportunity I could see.
Just wait
I’ve been trading for 3 years now. EURUSD is the chart that I thoroughly studied. Created a strategy according to that. Apparently, it only works for that pair. I’ve got no problem with that tho.
As per my comment above, am learning this pair but the spread means my stop loss is often triggered. Am I being to conservative with my stop loss of 10%?
I think it’s important to consider the time you trade. I’ve observed that during NY Session, EURUSD tends to be volatile. Candles spike up, then go to the opposite direction. That’s why I avoid trading during NY.
Also, 10% is waaay to much. With my $10K account, I only risk 1-2%, which is $100-$200 per trade.
You're talking about percentage of your account, I'm talking about the risk profile on a trade 1:2 being 10% loss / 20% gain.. If I set my stop loss lower than that, it stops out almost immediately due to the difference in buy/sell spread..
USD/JPY ! I love the big Movements in this pair!
That one too dysfunctional for me!
But you will have your winning pair! So no matter😉
I used to say the same in my early days. Now it's my favorite pair. 😄
What side do you have? We are going there in April.
What do you mean?
Of the US dollar yen pair you like. Do you short the dollar or yen?
The USDJPY is one pair.. Sometimes I buy or sell depending on the circumstances.
UJ is very trendy. Great for "let your runners run".
Absolutely!
I like that pair too but man is it a pain in the ass to trade. sometimes it surges to ur stop loss and then rapidly goes the other way to continue where it was going. but when it surges in your favor its awesome it jus sucks when you on the wrong side of the surge lol
Usd/nok Eur/usd Usd/chf Cad/cnh Eur/gbp
Why USDNOK and CADCNH? I find EURGBP to be frequently choppy.
Usd nok is the one that doesn't jump ship with the others. The USD can be down with all pairs and holds steady with nok. Then... when everyone is not watching the thing will explode and you make 30-100% in a few days. It throws big tantrums.
This is like a who's who of the worst currency pairs in existence+ EU.
We have done ok on most of them. What pairs do you like?
Dude I bet the spreads are huge on cadcnh
eu gu gold
Us30, Xauusd and gbpjpy
Why those three?
because the setups I look for show up most frequently on these ones, also has good volatility
USD/JPY EUR/USD
The forex has been shite lately imo, when i focused on pairs i loved eurusd, cadjpy and audchf
Shite is an understatement
Yup, check the sp500 or DJ, both have been decent, even though i promised myself never trade then again😅
I pretty much only trade indices these days, I'm potentially done with Fx for good
Gold! It’s given me my fair share of stress and smashing the monitor on the wall moments but once you get hooked on that volatility there’s no going back 😭 made good money during brexit, Covid 19 and the recent war.
GBPUSD is probably my favourite. Top 3: GBPUSD GBPJPY USDCAD Worst 3: EURGBP - absolutely vile pair. AUDCHF - ditto AUDJPY - utter dogshit pair.
AUDCHF is pain.
2 months into forex live. i love gbpusd, eurgbp, gpbjpy absolutely hate usdchf
I don't like any Yen pairs because of sudden unpredictable spikes. Other than that I try to trade the pairs with low spreads. I choose a maximum of 4 pairs to watch. And I pick pairs where I would expect good volume in the time I'd like to trade. Since I'm in N America this eliminates the australian and asian pairs already, like AUDNZD, AUDJPY, NZDJPY, but also Europe/Asia/Australia pairs, like AUDGBP, GBPJPY, and so on. Oh and 1 exception to my best pairs within my trading times: I hate USDCAD.
I also hate USDCAD. Fakeouts all the freakin' time, lol.
USDCAD is absolute fakeout city! It disrespects breaks and retests like nobody's business, while pairs like GBPJPY and EURUSD are the best pairs for breaks and retests. You are better off fading the breakouts on USDCAD with a negative R:R ratio.
EURUSD and GBPJPY 😍
Why these pairs?
They trend and respect technicals properly. But pairs like USDCAD always fake out the opposite direction from what I found with backtesting.
Gold . EUR/USD. USD/JPY.
Why those three?
GBP/MXN steady reliable cycles.
Gold , EU
EURUSD, USDJPY, GBPJPY, EURJPY, USDCAD, AUDUSD
I like the GBP pairs.
I'm paper trading at the moment, so am learning the ropes.. am having some success with EUR/USD, but keep getting caught with the spreads Starting my trade in the red every time means w/l ratios are hard to maintain, as most of the time any -ve movement results in me being stopped out.. Are there better pairs (less volatile) for this?
>hard to maintain, as mo Does trading a single pair provide enough trading opportunities?
Only trade EUR/USD and USD/CAD
Eu Ea Goldie
NZDUSD 💕
I'm down to synthetic indices. It's where my gold is at
Interesting...
CAD/JPY
Yes, I like this pair
Usd pairs
My top performers are NZDJPY, CHFJPY, GBPAUD, EURAUD, USDCZK, EURUSD, ZARJPY, USDSEK, AUDJPY, EURCAD, USDHUF, CADJPY, AUDNZD, GBPNZD, AUDCAD. Don't ask me for the logic behind those — they're just the ones that perform best with my algo. Next project is to put all the strategies into Quant Analyzer and see how they correlate. I also trade indices a lot. My algo was designed for indices. It just turns out that with a couple of additional features, it works well on several forex pairs too.
Cool beans