Which currency are you trading? - EUR/USD/AUD/JPY?

[Richerichaderson]

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

Have you been day trading all these pairs? I was actually more interested in 30 minute charts as for anything longer I am not really in a position to commit. I have very limited time to trade because of work commitments.

 

[bricklayercowardice]

STAY AWAY FROM SMALL TIME FRAMES IF YOU ARE A COMPLETE BEGINNER!

 

[Lukeronchi]

It is so irritating to see statements like these. There's nothing wrong in a newbie trying his hand at scalping. A good knowledge and analysis of the markets is all it takes to be an effective scalper. I started off with 5 minute charts and have been doing quite all right for myself from the very beginning.

 

[shriekpurser]

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 generally keep my trades open a couple of hours only but once in a while in the past have tried to make some profits off the gap b/w opening/closing of London exchange. I have sometimes seen high volume with a breakaway gap and tried going long for a gap up but never achieved what I wanted. I just dropped the idea of gap trading after a while.

 

[shriekpurser]

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.

Is it indice you are speaking of? I am more of an indicators user really, I like to leave fundamental analysis more to the domain of stock traders

 

[They]

Hi, can you elaborate a bit on the strategy used, seems interesting, thanks.

Look at the indicators on the chart and you can reverse engineer it

 

[Vettel5]

I mostly trade with GBPUSD, but due to economy not being consistent and unpredicatable would anyone suggest another currency pair that is most likely to be profitable?

 

[MarkDawn]

EURGBP and GBPUSD are the ones I trade. And have seen different returns on different platforms at the same time. Like last week on 100 lots I gained with a movement of 69 pips of the pair. But because of difference in the spreads and the trade cost my profits were different. Just a tad bit more on fxview in comparison with lynx. I‘ve come to realize that lynx costing is more suited to share trading than forex.

 

[John_09]

Mostly USD related are the one that I like to trade. Personally found it enjoyable trading with USDJPY

 

[Jastinross]

I currently trade with USD currency since it a reserve currency, and the value does not seem to have fluctuations like other currencies.

USD is expected to drop by more than 20% in the coming time, and with the stuff happening inside US Capitol, I don’t see USD regaining its strength anytime soon