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Just because you have money doesn’t make you capable of trading. You must have the skills and risk appetite to be able to make profitable trading decisions.

That’s one big plus exclusively with major currencies - tight spreads.

Yen is going to continue to weaken because of the corona havoc. It used to be a safe haven currency but I don’t know any more

And that’s the hardest part isn’t it? We are surrounded with so many choices: trading tools, platforms, brokers, it gets hard to make out what’s worth the time and effort and what’s not.

Absolutely, only a fool or someone with a whole lot of money rotting would start big.

Honestly I am not much for hedging as I feel volatility is what makes the markets tick, no?

It’s good to be confident but be careful there. Markets are an unknown territory always, no matter how skilled a trader becomes.

So you are in the same place as me at the moment. Been trading majors and now looking to go exotic. Let me know how your experience with the other pairs goes.

So are you trading most currencies except USD now? Because if you ask me that’s one economy that’s gonna take a long long time to come back to what it was. With Trump gone perhaps things are gonna look better, but who knows! I am rather surprised with the recovery of some of the Asian economies...

Why would that be? Although you’re right, I have never seen anyone trade the pound with this Asian currency. Am I right?

Any recommendations? I am a bit sceptical with cross currency pairs even, but if I hear someone’s gaining on peso or some such currency, I am eager to roll up my sleeves and learn some new tricks.

A whole lot of places offer that nowadays, it is like rewiring your mind for losing as a natural thing in trading. If it helps then it’s not bad.

NZD has been in the talks for a while now. It’s the second highest it’s been, trading at just a few pips below 0.7317. Could be something to consider!

That’s the NY / EUR overlap time?

Even with GBPUSD, been the worst among all. And this despite the stocks going up.

Ego trading is one big killer for the newcomers in the trading field. Trading is just like a job where we have to learn about our field, get into the field and then if things go south, learn again about our field. At dire circumstances only the markets make unexpected swings and we cannot ignore...

Sometimes forgetting the loss is the only option we have left as a trader, because no matter how technically we analyse the market, we cannot confirm that in the next five minutes the same scenario plays out as we predicted. Things are not in our hand and we lose money.

You are so convinced about this, I’m not going to try and change your mind :) But just saying, learning skills of each trader are different. And not everyone can afford losing their money just to learn. No doubt money will be lost even after practice on a demo account but chances of minimising...

The most liquid pair after all!

The experience of using the specific strategy for trading would help you to trade faster. Scalping seems to be very easy in stagnant markets but in fact it can get frustrating during the whole trading day.