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Old 27-10-2009, 21:04
MusicMan MusicMan is offline
Level 1 Lasers Member
Join Date: Oct 2009
Posts: 10

Which currency pair to trade is one of those questions I think each trader has to answer for themselves. When I started trading Forex (manually), I used to love the EURJPY cross -- it seemed to have a very predictable oscillating price pattern that common indicators (AO, Alligator, Fib retracements) were able to show, and that I was then able to trade.

All that went away as I began to look into auto-trading and scalping. Then, the spread took on a much greater importance. Now I hardly ever trade manually. Being human and a part-timer, I can't seem to bring my A-game to every session. The robot, in contrast, is consistent... not infallible, to be sure, but consistent in a way that lets me say -- "that looks like a good market for <some robot>". Plus, they don't sleep. :)

Thus, I have gone from a happy manual trader of the Yuppy (a.k.a. EURJPY) to an auto-trader of the thinnest spreads I can find, which means EURUSD. I used to avoid that pair, but for auto-trading, it seems to work.

My most recent alteration to this approach has been to add a so-called commodity currency to my mix. Right now, I have the same robot trading EURUSD and AUDCAD in the same account (different charts, obviously). I chose the AUDCAD primarily because it seemed to be not correlated with EURUSD at all... I may choose another commodity pair, but the idea of having a cross is still attractive, despite the larger spreads and the "hidden" issue of translating things to and from the account currency (USD).


Last edited by MusicMan; 27-10-2009 at 21:06.
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