FX 2007: Minors

[wasp]

Bored of cable?

Euro not move enough?

Yen too antisocial?

Go minor!


http://www.moneyrain.org/

These lovely people provide charts for crosses of countries you didn't even know existed so if your looking for some diversity in your portfolio, visit them and bring it up on here....

Currently going through every pair they've got to pick out the best trenders and movers and its a big old list so anyone else trading and looking at these different crosses, pick up a pew, post a few charts and lets dominate the worlds FX possibilities....

Heres a few to kick it off!

 

[jacinto]

Bored of cable?

Euro not move enough?

Yen too antisocial?

Go minor!


http://www.moneyrain.org/

These lovely people provide charts for crosses of countries you didn't even know existed so if your looking for some diversity in your portfolio, visit them and bring it up on here....

Currently going through every pair they've got to pick out the best trenders and movers and its a big old list so anyone else trading and looking at these different crosses, pick up a pew, post a few charts and lets dominate the worlds FX possibilities....

Heres a few to kick it off!

And I must say it is very nice to see you are opening a new thread dealing with the poor forgotten ones.

I have to say, that some of these pairs, at times have also to be seen from the eye of the fundamental trader, not only technical. Need to see how I can be of help on that front.

let me contribute on one for starters
j
edit: also the daily setup

 

[wasp]

Long way to go.......

here are the ones on my watchlist to look at a bit more closely....

 

[wasp]

And I must say it is very nice to see you are opening a new thread dealing with the poor forgotten ones.

I have to say, that some of these pairs, at times have also to be seen from the eye of the fundamental trader, not only technical. Need to see how I can be of help on that front.

let me contribute on one for starters
j
edit: also the daily setup

I don't think so, I'm a big fan of the chart leading the news and the news fitting in with what price says it should so I tend to steer away from any fundamentals.

That set up looks a nice easy text book trade mate.

 

[wasp]

The next problem of course after wittling down the list a bit, is which broker!?!?

 

[jacinto]

only said "at times", will have to agree with you on the rest.

for me, at times means......once every 3-6 months

j

aka saint germain de pres ...lol

 

[wasp]

Euro

The chosen euro few...

 

[wasp]

The pound

A few for the pound...

Loving the look of NOK

 

[wasp]

Down under

A few choice locals....

 

[wasp]

Heaven

Now we're onto something.......

USD / BWP

 

[wasp]

US of A

And of course, the dollar...

 

[wasp]

Top 3

The finalists for me........






Aha! Finally, sunshine, I'm off........!

 

[egro1egro]

What about the spread on these ones? You are not worried about it?

If you want to trade other markets, apart from GBP/USD, why not look at

a) e-minis (ER is my favorite now - it has enough volatility and nice moves, NQ/ES - as well). Don't know whether it would suite your time-zone though...
b) stocks big-caps. They present a lot of choice and continuous market like currencies. But require at least 25-30 k capital to trade intraday

 

[wasp]

What about the spread on these ones? You are not worried about it?

If you want to trade other markets, apart from GBP/USD, why not look at

a) e-minis (ER is my favorite now - it has enough volatility and nice moves, NQ/ES - as well). Don't know whether it would suite your time-zone though...
b) stocks big-caps. They present a lot of choice and continuous market like currencies. But require at least 25-30 k capital to trade intraday

Only a problem if your trading a small timeframe IMO. If trading of the 4 hr or daily, the spread, in comparison, is not a big issue.

I'm an FX trader and learnt that the hard way, whenever I touch any other market I do badly! So I am more than happy with these, despite the higher spreads.

 

[egro1egro]

I thought you were going to trade 15-min TF. When have you switched?

Even moderately big spreads (like 7-11 pips) is a little bit of a problem actually. Imaging that from all your winning and losing trades you pay like 20-30% tax. Spread can be a big issue depending on frequency of your trades and on instrument volatiliy.

As for the ones you've choosen. Botswana - you are mocking everybody, I guess.

I haven't found GBPNOK yet, but USDNOK has spread of 50 pips. Do you still not care about it?

You can look at it also in a different way. Brokers don't make market in cross-currencies. Instead they manufacture them from two (or more) normal pairs. For example, GBP/JPY (spread 7 pips) is not found in nature, but composed of two pairs GBP/USD (4 pips) and USD/JPY (3 pips). When you buy GBP/JPY your broker will have to buy GBP/USD and USD/JPY adding up the spreads. If GBP/JPY seems more volatile to you then GBP/JPY- that's because of adding one type of noise to another. The results of trading a synthetic pair will be equal to or even worse than trading each natural pair separately at the same time with their own signals.

 

[wasp]

I thought you were going to trade 15-min TF. When have you switched?

There's nowt wrong with improving consistency and profitability. I'm always playing with different TF's and each market needs its own perspective.

Even moderately big spreads (like 7-11 pips) is a little bit of a problem actually. Imaging that from all your winning and losing trades you pay like 20-30% tax. Spread can be a big issue depending on frequency of your trades and on instrument volatiliy.

As for the ones you've choosen. Botswana - you are mocking everybody, I guess.

I haven't found GBPNOK yet, but USDNOK has spread of 50 pips. Do you still not care about it?

Not caring at all mate, its all relative. Keep the risk low and the consistency high and it all works out well in the end. I've been trading USDNOK for ages very happily.

You can look at it also in a different way. Brokers don't make market in cross-currencies. Instead they manufacture them from two (or more) normal pairs. For example, GBP/JPY (spread 7 pips) is not found in nature, but composed of two pairs GBP/USD (4 pips) and USD/JPY (3 pips). When you buy GBP/JPY your broker will have to buy GBP/USD and USD/JPY adding up the spreads. If GBP/JPY seems more volatile to you then GBP/JPY- that's because of adding one type of noise to another. The results of trading a synthetic pair will be equal to or even worse than trading each natural pair separately at the same time with their own signals.

Not really, take each market with its subsequent spread at face value and adapt to the market in question and you can profit from any out there. A small cap US stock trader wouldn't touch google but its not too say they couldn't make money from it.

 

[kitelab]

Hi Wasp!

How u doing with trading the GBP/NZD? I've been real keen to try it out! CMC still have 20pip spread?

Also looks like the ZAR is about to break....to which direction, i'm not sure though.

 

[kitelab]

i was refering to the EUR/ZAR, but i see the USD pair is also looking promising! Could be quite a few pips on the move.

 

[wasp]

Hi Wasp!

How u doing with trading the GBP/NZD? I've been real keen to try it out! CMC still have 20pip spread?

Also looks like the ZAR is about to break....to which direction, i'm not sure though.

i was refering to the EUR/ZAR, but i see the USD pair is also looking promising! Could be quite a few pips on the move.

Hi Kitelab,

I went off GBP/NZD I mut take another look sometime.

I see what you mean about the ZAR pairs, both looking good to go. Also NOK's are preforming well. Just looking around for a botswana broker now!

 

[kitelab]

with the GBP/NZD i'm looking for a potential long either at its current position (2.7950) or at the next low around 2.7600. See what happens just after the wkend.