For a long term option, Asian session is good. Only for day trading I wouldn’t recommend it, or else that’s the beauty of forex trading. When one session closes, another opens. Again, I wouldn’t recommend JPY for London, works better with NY open.
Which currency are you trading? - EUR/USD/AUD/JPY?
- Thread starter shriekpurser
- Start date
Any recommendations? I am a bit sceptical with cross currency pairs even, but if I hear someone’s gaining on peso or some such currency, I am eager to roll up my sleeves and learn some new tricks.
Why would that be? Although you’re right, I have never seen anyone trade the pound with this Asian currency. Am I right?
Surely caution is needed when it comes to the Beast. False signals are as common as bees on a sunny day. I tried my hand at it in a range bound market but quickly retreated back to the safety of EUR/USD.
Ya it’s called “widow maker” for a reason.
So are you trading most currencies except USD now? Because if you ask me that’s one economy that’s gonna take a long long time to come back to what it was. With Trump gone perhaps things are gonna look better, but who knows! I am rather surprised with the recovery of some of the Asian economies though, cheers to them!
It is similar to GBPNZD, equally volatile, not meant for beginners. For those just starting up, it is best to trade eurusd or gbpusd on an easier interface like metatrader (4 or 5) that many brokers like xtb, fxview etc offer.