How many Forex pairs should you trade or watch? http://www.financial-spread-betting.com/forex/forex-trading.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Best currency pairs to trade in forex - a quick guide. Trading too many currency pairs is a bad idea. There are so many currency pairs out there - and some exotic ones too. The main currency pairs are EUR/USD, GBP/USD, USD/JPY, AUD/USD and USD/CHF. Besides these of course there are plenty of others. Let's say I say I'm going to specialise on the USD/CHF and I'm a believer of specialisation, however when you get tied to a specific pair like USD/CHF you must trade it all the time. You trade it when its trending or choppy and even when its not moving and this can be very challenging as the market conditions. Most traders are either good at trading breakouts or volatility expansion or mean reversion but not all. The opposite end is to consider all currency pairs but then you have so much to look at that you will end up losing focus and this is dangerous as well. So most of the times it is better to limit yourself to 5 to 7 currency pairs. It is far easing to keep in tune with a restricted list - what are the major resistance and support levels, what are the catalysts that might impact them?
the best currencies to trade are the strongest against the weakest. websites like finviz have a strength index that shows the strongest and weakest currencies each day. i check this at the beginning of each day so i know instantly which pairs i should be looking at.
I personally think the topic has been overlooked and the way you've brought it to light as made a difference to me and I hope it does the same for others. Fantastic channel..quick and to the point useful information 👍
My trading is definetly GBP based. Over the time I came to a 3 charts setup: cable, gbp/jpy, usd/jpy. I would only trade cable but as you said, sometimes prices goes "flat" so when this happens, maybe the gbp/jpy is moving. Or even better, when happens gbp/jpy to be stuck simply means that cable and usd/jpy are going opposite ways. Love to check OIL from time to time and rare cases the usd/cad or other GBP crosses (cad, nzd, chf) but not that much in recent times.
Have you thought about teaching the Kelly Criterion. It makes sure in order to use it that you have a trading system that must be execute consistently, the system must be thoroughly backtested in order to determine the probability of success which is needed in the equation, the stop and take profit perimeters be set before entering a trade and can not be altered during the trade, and because it determs the maxim amount of effective leverage in each position it makes it impossible to over leverage one position. The Criterion is adaptable to a large segment of trading systems, and is endorsed by an original market wizard. It truly does make trading an idiot-proof activity.
PLEASE! Can there be any content on advanced trading? ANY? Only advice for the starters... I love trading but i want other people to share their strategies and ideas on the market not what is a pip, whats the difference between a quote and a base currency, what is the RSI tool etc.
Thank you for answering. Your channel is the best channel about trading no questions asked, the content deserves 10x more views. With that out of the way I have seen the interviews which are pretty advanced but when it comes to a specific field then it would be really great if there are videos about how hedge funds trade for example or how experienced traders trade the market (not interviews but actually on charts).
There is already (and we will produce plenty more) of advanced material but we also need to cater for beginners and intermediate traders so will also continue producing 'starter' material as well. The best way to check our videos is to use the playlists where we sort them in separate sections. If there is any field you are particularly interested in feel free to let us know.
Trading stocks typically have the lowest fees on eToro, which is one reason why I recommend you stick to this market when starting out.
All trades charge both a spread and daily rollover fees.
It really comes down to individual trading strategies and preference. But to give you an idea, I tend to hold on to stocks for a minimum of 6 months and all other trades tend to have an average duration of about two-three weeks.
A final word on over-trading.
This is a point that I want to expand on a little more, specifically in relation to copying other traders. Below is a screenshot of my equity chart over six months. The red line shows the number of people copying me.
My equity vs copiers chart.
The same holds true for the stock market in general.
Long-term growth of UK stock market.
How to Start Trading Cryptocurrencies.
Cryptocurrency trading can be extremely profitable if you know what you are doing, but it can also lead to disaster. Even though most traders decide to either go with fiat or bitcoin, other cryptocurrencies can represent viable income sources, as long you as you tread carefully and understand what you are doing. This guide is for those who want to start getting involved in cryptocurrency trading.
Where to trade.