All of these, with USD as base.
Which currency are you trading? - EUR/USD/AUD/JPY?
- Thread starter shriekpurser
- Start date
Same here. It’s safest to use USD, being the reserve currency. And no way is its value going to fluctuate like other currencies, meaning no major swings.
I have been sticking to the pin bar strategy where I always exit beyond the high/low pin bar tail. I only keep it higher when the trading range is right under resistance. Being outside resistance then has proved better (at least in my case) than right above pin bar high. In this regard I am sorted. But that's not the case with TP, still fumble there.
I’ve had most profits on USD/JPY. Trade when both countries markets are open and you’ll see a lot of green.
I reckon these contracts to be a great tool for hedging. In fact short hedging crude oil earlier last year proved to be one of my best investments of all time. In shaky times I just had to pay some extra dough as maintenance margin besides the initial partial margin that I had paid. December was good for me and I never had to put in my money beyond certain amount. I would in fact say leverage is best used in futures, same with options.
Not sure about that. I have been day trading USDJPY when New york and London markets are open but not Tokyo. Roughly in the first 3 hours of the afternoon. Biggest pip movements on this pair can be seen in this time window. And tight spreads also.
Other good currencies when New York businesses are up and running are all pairs that involve CAD and USD. And with London open, CHF, GBP and EUR are the currencies to trade.
PS. I’m no expert, but this is what’s been working best for me
I go along with this, once London closes all the big action is usually over, unless the Australian central bank announces a new interest rate or suchlike.
I update my daily charts three times a day - using London time, about 5:30pm, 10:30pm and 7:30am. Charts don't change much between the London close to the subsequent London open. A few pips here and there but usually the high and low of the day remain unchallenged and if the day printed a hammer at tea-time, its almost always still a hammer next breakfast-time.
I update my daily charts three times a day - using London time, about 5:30pm, 10:30pm and 7:30am. Charts don't change much between the London close to the subsequent London open. A few pips here and there but usually the high and low of the day remain unchallenged and if the day printed a hammer at tea-time, its almost always still a hammer next breakfast-time.
Hi, can you elaborate a bit on the strategy used, seems interesting, thanks.
I currently trade with USD currency since it a reserve currency, and the value does not seem to have fluctuations like other currencies.
Try commdollars, coming phase of pickup in the next business cycle should help them to outperform USD, JPY and CHF. If you of course focus on macro trends or prefer fundamental analysis to make predictions.