So how do y'all trade currency futures? I've observed that following trend is the most profitable way to make money in currency futures. But I'm curious as to how y'all trade.
Currencies are great markets to trade intra day. They trade very well off a chart imo. Just draw trendlines and watch the orderbook.....just like in any other market lol! Good Trading
Youngtrader, thanks for the reply. They are good to trade by looking at charts. You don't even need technical indicators. Only doing live simulated trading right now. What do you look for when you watch the order book? How many points do you concentrate on? Thanks
I actually wrote a short piece on reading order flow (very crude though). I believe its in the stratagy section on ET. Its called Reading Order Flow and it talks about what I use to read the orderbook. I don't trade currencies anymore but when I did I found that they provided great risk reward ratios. It always varied on how much money I was looking to take out of the market and how much I would risk so I can't give you an exact number. I pretty much just traded the euro and pound. Good Luck
Yes, the pound and euro are the best to trade imo, as far as liquidity and trends go. Very good charts. I don't try to predict the markets, I just try to follow the trend and any breakouts that I may find along the way. Thanks.
nirav34 A response to your pm: I actually did quite well trading currency futures but found that fixed income is where its at. However currencies are a great market to cut your teeth in if your new to this game. Good Trading
i trade currencies and just stick with the trend like everyone is saying.... also throw technical indicators out the window