Sorry for the english. I have been trading forex on and off for some years...I went in to fast the first year, stopped working thinking I was readdy and lost my money (not a lot fortunately). I then stopped trading real money, went back to a job and been paper trading on my free time for years now. I have now find a way to be pretty constant in the Eur/usd as long as the daily volatility is correct. But everytime the Eur/usd is ranging in 20 or 30 pips range for a long time, it is a long and boring (and losing most of the time) day. I don't trade any other forex pair because the Eur/usd is the only one I am feeling (I find the others either slow or erratic and most of the time when the Eur/usd is ranging, they are not moving eithers) anyway, I was with Oanda but thinking of moving to IG or Eltoro for exemple in order to have more choices and to be able to trade something else when the Eur/usd is not moving. For the other forex traders, anyone have the same problem than me? What are the other instrument that you trade to complement the forex (with good volatility)? I am in Europe so I have the CFD of available. Thanks for the reply. ps : i did not post it in the forex forum as the aim is to find something else to diversify....
something wrong with your data. eurusd day range has been rather big ie rather tradable. average is about 80 pips. yesterday day range was about 110 pips.
He's probably talking about an 8 hour or so session, something one could reasonably trade day after day. Not necessarily a 24 hour period.
Yes...and I am also not talking about this last days. This last days have been good but i am thinking about this diversification for some times now.
Hello mounafia, don't change from Oanda or you won't be able to scale your balance across multiple pairs if you decide to ever do that. You have all the available options with access to 70 currency pairs. I suggest going to oanda FX labs and looking over the currency correlation heat map and picking a pair with high correlation for a given time frame. Then back to FX labs and looking over the volatility page (which is currently down) to see which correlated pair has recent volatility.
Here are the pages you want. https://www.oanda.com/forex-trading/analysis/currency-correlation https://www.oanda.com/forex-trading/analysis/currency-volatility https://www.oanda.com/forex-trading/analysis/labs/
I see that you are from Europe. I think you are trading during US session. Not advisable to trade eurusd during US session because eurusd tends to move during european session. it might move during US session especially when there is major news . so if you are trading during US session, you can consider things like US Index futures, energy futures
Be careful with that - the regulations in Europe are in the process of changing. You might look at oil, and/or at the Nasdaq: you can trade both at Oanda.