What's a good Forex to trade?

Discussion in 'Forex Trading' started by chiefraven, Feb 8, 2008.

  1. Hey guys,

    If i'm a candlestick guy and wants to find a good forex instrument to trade via the 2min or 3min chart, what are some of the best forex instruments?

    I have checked out a lot of the forex charts, but tons of them are choppy, or have low liquidity it seems... and there's a gap every other candle. =\
  2. eur.usd, jpy.usd are the big two by volume.

    gbp.usd, chf.usd, eur.jpy, aud.usd and cad.usd are worth a look but will be thinner.
  3. If you're insane like i am, try trading Aud/Jpy. Beware !

  4. i like gbp/usd on 4hr/1hr and 25min
  5. anyone looks at divergences between forex instruements?

    if so, which ones do you like the best?
  6. full stochastics. If price breaks out, and the stochastics is already at over-bought or over-sold levels, dont buy.
  7. mackinaw


    gbp/jpy if you can get a good spread and ride the trend.

    eur/usd when the above gets out of control.
  8. anyone familiar with this website and its correlation tables?
    I found this url link from niha's STR manual.

    it shows the 1hour and 1day correlation....

    now i know lots of you look at all the GBP or all the EUR, or all USD for divergence..
    like USDJPY USDCHF..... or GBPCHF GBPJPY....

    however, judging by the tables, it seems that this is not the most efficient way sometimes... at least correlation percentage wise..

    also.... i'm assuming we should probably use the daily correlation table from that site? since 1h correlation might be too identical to our trading instrument? so daily might be better?

    what do you guys think?
  9. trade any pair and fade the double 00's - doesnt always work but when it does - whoa nelly!

    i.e - this year EUR.USD approached 1.4900 twice and each time it sold off over 100 pips!

    Never risk more than 15 - 20 pips. Great risk to reward ratio!
  10. chf/jpy is a great range trade, has been for the past few months. low event risk
    #10     Feb 16, 2008