Is it better to avoid Exotic currency pairs? Why?

[tedmos38]

The exotic currencies some of the best opportunities in foreign exchange (FX). ... However, nobody ever made profits with a stagnated currency pair.TheExotic currency pairs include one major currency alongside a currency from a developing or emerging market. For example, an exotic forex pair would be formed when an exotic currency, such as the Turkish lira (TRY) or Hungarian forint (HUF), is paired with a major currency, such as the US dollar (USD) or euro (EUR). EUR/USD is not just the easiest, but also the most stable currency pair to trade. It is the best choice not only among beginners but also for professional traders. This is one of the most traded currency pairs due to tight spreads and liquidity.

Exotic pairs can be risky, since they have low liquidity and low volume, plus their charts are also very weird.

 

[naturecumforexlover]

I never tried with them, for the same reason, low volume and less liquid, no benefit i think.

 

[yana hansen]

Exotic pairs can be risky, since they have low liquidity and low volume, plus their charts are also very weird.

It is true that trading in exotic pairs is risky but what do you exactly mean here by weird charts?

 

[DepthTrade]

The exotic currencies some of the best opportunities in foreign exchange (FX). ... However, nobody ever made profits with a stagnated currency pair.TheExotic currency pairs include one major currency alongside a currency from a developing or emerging market. For example, an exotic forex pair would be formed when an exotic currency, such as the Turkish lira (TRY) or Hungarian forint (HUF), is paired with a major currency, such as the US dollar (USD) or euro (EUR). EUR/USD is not just the easiest, but also the most stable currency pair to trade. It is the best choice not only among beginners but also for professional traders. This is one of the most traded currency pairs due to tight spreads and liquidity.

I googled your name because it sounded familiar, of the many people with the name only one was associated with finance and Ally. Is that you, if so do you and the company trade currencies?
Thank you.

 

[tedmos38]

It is true that trading in exotic pairs is risky but what do you exactly mean here by weird charts?

I mean the charts have many gaps and they might not follow a clear pattern which may look strange to a new person.

 

[Teryc20]

I have never experienced them but from what I can see is that their liquidity are quick lacking which in turn making the volatility quite high, so this is what is setting me back from giving them a try

 

[Riley.R]

Never really had the guts to stick to exotic, I rather like it safe with majors and sometimes even minor, but pretty much less inclined to exotics.

 

[tedmos38]

Never really had the guts to stick to exotic, I rather like it safe with majors and sometimes even minor, but pretty much less inclined to exotics.

Same here..hahah

 

[Jasper21]

I would avoid exotic pairs because they are not as volatile as the Major pairs, and I rarely see any trader trading with exotic pairs and winning in trades.

 

[DepthTrade]

If the spreads are reasonable, trade it. All the moves are random anyways. Volume doesn't matter either, nobody here is trading any size. If anyone was trading enough size, you'd be looking for bigger moves and volume would again be irrelevant.