well speaking of exotics, its a simple concept really, simply avoid anything that you know less of, I mean if there is little info surrounding it then avoid it, its a crazy ride, but if you think the knowledge you have about these exotics are good then simply go for it, but to be honest most my trades at hotforex are simply around eurusd and gold at times.
Is it better to avoid Exotic currency pairs? Why?
- Thread starter RobRoss
- Start date
Yeah I also try to stick with majors and gold because majority of investors convert their assets in major currencies and it easier to predict behavior of big crowd.
My concentration is only on major pairs and among those i only trade on EURUSD with a believe that it is better to a master of one trade rather than being jack of all..
It is far better to be master of one Pair rather than being slave to all Pairs. Got its.
Do you think that applies to exotic currency pairs?
Well yes why not - I understand from what is written here that the exotic Pairs just take a little longer to move from point A to B - This appears to be their only negative point as well spread size may increase considerably. What I say above refers to knowing the Derivative well enough that you are able to trade it at a consistent Profit or to where the Derivative become Profitable to your out goings & investment. - Quote Peter Matthew Matty - It is far better to be master of one Pair rather than being slave to all Pairs.
I agree with the quote, but regarding the exotic currency pairs the other thing that one should keep in mind about them is that they are often subject to country-specific fundamentals that most traders may not be aware of, so it's important to study those too.
Those country-specific fundamentals may be the best reason for trading exotic pairs. If you live in one of those countries, you may be aware of things changing before any government or monetary policy changes catch up
L
lovethetrade
If you're a short-term and purely technical trader it makes no difference IMO. Trade whatever pair that gives you a signal, is trending, has the best carry or whatever and represents the best opportunity at that point in time.
Point Taken. All work related and interest centered around A Pair are on the Chart Bud inside your home - And not else where. In A Different Country Indeed. ? Ring the bell for the Answer. She bad bad. - A little disco for yer - Should help in getting the brain to function correctly.
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