Resolved Question
Is now a good time to trade????
I've been watching the market for a while now and I'm rarely finding any good trades cause markets are always trending down. So is now a good time for serious trading or is now the time to sit back and wait for this financial turmoil to subside. If now is a good time to trade then which pairs and why?
about 1 year ago
Best Answer - Chosen by Asker
In the forex market, you can always trade the upside and the downside. When there's a financial turmoil, go short. It is always a good time to trade, as long as there's volatility, there's always a chance to catch the trend both in the short and long term. You dont need for the market to stabilize before going in, you can always harness the chaos as long as it's within your understanding and competency. Take a look at the euro for example, it is true that the european union is in a financialll trouble, traders are still making use of this opportunity by shorting the euro, profiting from the turmoil itself. If in your perspective, the market is always trending down, then dont bother going long, go short! Good luck on your trade!
about 1 year ago
Answers (3)
You know what they say, "the trend is your friend! ". There's nothing wrong with trading right now, even if the market is trending lower and lower. There are whole systems that are based on trends. I suggest you take a look at pip surfer's and huck's trading systems - they both use moving averages, which work best when the market is trending. Of course, you can always try your hand at discretionary trading. If you have concerns shorting lows, you can wait for retracements and pullbacks to find better entry points. Try using the fibonacci tool, and look for areas where price lines up with the fibonacci levels as potential areas to enter the trend.
about 1 year ago
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I really agree that you need to go with the trend if you are willing to trade. Is good to use always a stop loss because the market is really volatile so don´t take any chances. One pair that is not so volatile is the aud/nzd, but all the pairs with eur, jpy, gbp and usd are really volatile with them you can make a lot of pips or lose your account. Good luck.
about 1 year ago
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Hey,
when you trade you are looking for the best trade, there for all you have to choose is the pair you want to trade with, and the most important it the time frame you are choosing , more then that you will need to get the decision if to go long therm or short therm , and in order to get more info about befits for your trading broker you can chat with your broker at pairforex,easy and good comparing for befits type pips,spread,and instruments
about 1 year ago
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