12.18.07
Better Currency Pair For Forex Trading?
Every now and then, there will be somebody who asked me either on the web forum or by phone call regarding this matter. For them, to pick the right currency pair is like hell. I know many people (normally Asian trader) loves to trades in GBP/USD or EUR/USD currency pair.
I’ve been studying the currency market for so long and found out the the better currency pair for every short term forex trader is either GBP/JPY or GBP/CHH. These two currency pair is good for short term trader (who normally trading within 12 hours or less per day) because of their volatilities of it. The more volatile the market is for selected currency pair, the more you can make money.
It better to find or chose a minimum 120 pips per days currency pair for short term trader rather than choosing a very stagnant currency pair. For short term trading, you need to act fast and to manage your trading account with proper manners. I normally saw this currency moves from Down Trend (DT) to Up Trend (UT) within 5 minutes with range more than 45 pips. If you trade for USD$200, you will get more than USD$75+ within 5 minutes if you get more than 45 pips.
As for my research, I’ve found out that GBP/JPY and GBP/CHF normally works around minimum 120 pips per day which could generate more than USD$100 per day using 2 lot trading. This is good for normal trader (who have not more than USD$1000) on their available margin.
By the way for those who want to trade in GBP/JPY or GBP/CHF, I would like to advised you not to trade using a hedging technique as this will make you loose more than what you can expect. Check the graph or candlestick when needed and follow the movement without losing control on your available margin.
Hope that you will eventually trades in either GBP/CHF or GBP/JPY soon. If you need Forex Indicator or Signal, please visit this website: FOREXINDI
