Tag Results: FAQ
Hi Lydia, this is Arturo from Mexico, a currency trader looking for some opinion about the pairs from I was profiting last year but apparently the nice downtrend is over now. What do you think about eur/aud & eur/nzd? I have been thinking about switching to aud/usd or aud/jpy, what do you suggest?
Regards and happy trading.
Arturo
info@nimbus.mx
Anonymous
Hello Arturo!
First and foremost, I suggest trading currency pairs that you are comfortable trading. If you are comfortable trading the AUDUSD or AUDJPY, then by all means! However, if you have been trading the EURAUD and EURNZD profitably for a year, then it seems that you are very comfortable in trading those pairs. It is easy to trade when a pair is trending so don’t be discouraged by the latest trend change. In fact, both pairs have nicely reversed the long-term downtrend and the fundamentals fully support the new rallies especially in the EURNZD. Instead of fighting the new trend, embrace it! Bears will have to be more nimble.
Please note, that I do not trade any of the pairs you seek advise for. But I do know about sticking to a very select few pairs to trade. You have to be adaptable to the changing market environment. But I believe true sucess in forex trading comes when a trader is very familiar with the pairs he trades not from catching every trend available in the market.
I hope that helps put things in perspective for you in your trading. Happy trades!
