trading the obscure pairs

S

stock_trad3r

everyone knows about CAD USD JPY EUR but what about TRYUSD and others?

made 40% in just one week long USDTRY

for the folks that can't make $ with forex you may want to look beyond the default exchanges


trading the most common pairs is usually for suckers
 
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made 40% in just one week long USDTRY
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Good.

Now you have 51 more weeks to go. Come back at the end of the year and tell us how much you made.

Quote from stock_trad3r:
the folks that can't make $ with forex you may want to look beyond the default exchanges
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Sure, if 95% of Forex traders cannot even make it with the major currency pairs and their small 2 to 5 pip spread, they will surely succeed with the exotic currencies and their 20, 30, 50 or more pip spread and their insane volatility (the USD/TRY for example has moved almost 300 pips in the last 5 hours alone, a routine move for that pair!).

Why didn't I think of that? :D


Quote from stock_trad3r:
trading the most common pairs is usually for suckers
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Quote from Mad Magazine, no doubt. :D
 
if you want a real ride try that NOK

or for that matter, try getting out of the KIWI at three o'clock in the afternoon

never traded the peso, I'll leave that to the experts

I'm one of those suckers that sticks to the 6 majors

It's just me and the Swiss National Bank
 
but some of the exotics have an underlying story to them ..for example, Turkey has a lot of corruption and highly dependent on inflows of cheap $ to stave of hyperinflation, so if the fed accelerates tightening look out below...

JPY has abenomics but it's not a good hedge against economic weakness in the US or tapering

EUR has euro crisis but that burned a lot of shorts in 2010-2012 . The Euro is a lot stronger than exotics and can absorb a lot bad news before giving up ground
 
Quote from stock_trad3r:

but some of the exotics have an underlying story to them ..for example, Turkey has a lot of corruption and highly dependent on inflows of cheap $ to stave of hyperinflation, so if the fed accelerates tightening look out below...

JPY has abenomics but it's not a good hedge against economic weakness in the US or tapering

EUR has euro crisis but that burned a lot of shorts in 2010-2012 . The Euro is a lot stronger than exotics and can absorb a lot bad news before giving up ground
More...

I did not say you cannot make money with the exotic currency pairs, but the spread and the volatility are so high that you better know what you are doing or you are history!

And of course don't even think about day-trading or scalping some of these exotic pairs, the spread alone will kill you, trade after trade!!
 
Quote from stock_trad3r:

but some of the exotics have an underlying story to them ..for example, Turkey has a lot of corruption and highly dependent on inflows of cheap $ to stave of hyperinflation, so if the fed accelerates tightening look out below...

JPY has abenomics but it's not a good hedge against economic weakness in the US or tapering

EUR has euro crisis but that burned a lot of shorts in 2010-2012 . The Euro is a lot stronger than exotics and can absorb a lot bad news before giving up ground
More...
I'm a trader, not a fundamental economist guesser

I like a tight spread much better than a story
 
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