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Which is the best pair to trade on the London open (intraday or scalping)
I am trading on a long term but I want to start day trading. So I want to know the best pair that behaves well on both technical and fundamental indicators.
over 2 years ago
Best Answer - Chosen by Voters
See if you can locate an article by Kristian Kerr in Currency Trader September 2004. It's called 'Day Trading the FX Market: A different approach to the pound. The strategy outlined trades best with the British Pound/US Dollar. You could try this link and see if it works http://www.forexsuccesssecrets.com/... The source was given me as a free gift Best of luck.
over 2 years ago
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If you want something for some quick profits, you can try looking at the GBPUSD pair, which has a normal trading range of about 200 pips everyday. You could scalping on a strong move at the open of the European session for some decent pips. The EURJPY pair is also pretty volatile. In any case, I suggest trading European currencies during that time. Most economic data for those pairs come out after the start of the session, so this could help give you prepare more for what trades to take.
over 2 years ago
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For my point of view EUR/USD or EUR/GBP.EUR/JPY is good pair
but not for Beginners...Best regards
over 2 years ago
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Open Questions in Trading Strategies
Resolved Questions in Trading Strategies
- What is intraday position? And how does it differ with overnight position?
- What is scalping? How profitable is it?
- Which indicator are you using? I know there are tons of indicators out there.
- Before you begin trading, do you set a certain goal to reach? If yes, is it important?
- How can I decrease the gap between entry and stop loss?
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