Spreads are fine,obviously with exotics you won’t get tight spreads usually yet if you compare it with others, i’d say fxview’s spreads have been quite decent.
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Which currency are you trading? - EUR/USD/AUD/JPY?
- Thread starter shriekpurser
- Start date
Spreads are fine,obviously with exotics you won’t get tight spreads usually yet if you compare it with others, i’d say fxview’s spreads have been quite decent.
I’ve actually found a good approach for combating this issue. Just pull away from the 5 min chart and trade on a longer time-scale. Trading on the daily chart with fxview and fxpro helped me negate the effect of high spread.Tried my hands and luck trading Singapore dollar and what paused me was not the volatility, but the high spreads because of it.
That’s a good approach. I’ve been trying my hands at trend trading and go long or short depending on whether the trend is bullish or bearish.I’ve actually found a good approach for combating this issue. Just pull away from the 5 min chart and trade on a longer time-scale. Trading on the daily chart with fxview and fxpro helped me negate the effect of high spread.
Good for you but for the average trader like me, learning to scale up the position size is quite intimidating. It’s the fear of outsized and unexpected losses I guess.Playing around with the position sizes is exciting isn’t it? Like, I’m using MT4, and the time frames available range from 1 minute to 1 month. Gives me ample time to work around the position size, analyze how the candlestick behave, and exit the trade when I feel it’s not profitable anymore.
Up till now I’ve been advised to stay away from exotics and trade in just one pair. The discussion on this thread says otherwise. What’s the right way?
The spreads on exotics lately have been dropping because of the competition and increased liquidity. You need to understand that if the pair has slightly higher spread, there won’t be much difference between making 200 & 198 pips. With fxview and XM, I trade with higher time frames switching from swing to position style trading and it doesn’t really matter much. Start with demo account trading if you’re at all interested to see if it suits your style.Up till now I’ve been advised to stay away from exotics and trade in just one pair. The discussion on this thread says otherwise. What’s the right way?
I try staying away from exotics. Prefer sticking to majors or a few minors.
I go with EURJPY because of the great movement and volatility. Mostly traders don’t go for it and that’s where their loss becomes my gain.
Yeah William, EUR/JPY is a decent pair to trade with low spreads and all. I also like GBP/AUD that moves quite fast and the volatility factor makes it my favorite.