Best FOREX markets

[fseitun]

Hi everyone

We all know that almost all systems trade very well when the market is trending; however, problems start to arise when the market gets into a sideways mode. Many systems fail under sideways market conditions. I personally think that good systems keep you out of most trades during a sideways market, thus keeping you from being stopped out all the time.

There are some forex markets - like the EURGBP - that are a bit dull. I personally don't trade a market unless its daily trading range is 100 pips or higher. Of course, dull markets might heat up in a matter of a few days if banks decide to invest in it more heavily.

What's the best way to determine when a market's trading range is getting wider ?

There are so many markets out there to keep an eye on, even outside of the forex area. I think a good trader should be ready to move from one market to another depending on the opportunites offered.

What do you guys think?


GL to all

Fed

 

[fxmarkets]

you could look at the different averages for a markets ATR on a rolling basis, they say markets spend most of the time range trading . Perhaps its better to find a method that fits in with what it does mainly, of course your time frame to consider, I assume intra day as you mention daily range of 100 pips. you generally wont know its going range bound until you are in it , if you have a tighter entry to enable you to pull out relatively flat or with a few pips rather than waiting for a break/extension of range which may well not happen.

with regards to jumping markets, it all depends how much information flow and again what time frame you trade in. Expert in one market on a intra day timeframe should suffice and build a business plan around that. Ultra jim slater zulu principle if you like with razor sharp edges on.

 

[TheWolf]

I trade most of the markets. Some of the less volatile markets often trend very nicely, but I can see why they might not be as attractive for day traders.

GBPJPY is one of my favourite markets, as it works a gem with my system. Look at it in H4. =)

 

[fseitun]

Well, first of all thanks to fxmarkets and wolf for replying to this thread.

I perhaps should have premised that I am a swing/position trader and I absolutely DO NOT DAYTRADE. Daytrading just doesnt fit my style and personality, I am looking for 100+ pips gains for my trades and not for a couple of pips here and there. Of course I may enter a trade and exit it the very next day if it goes against me, but my minimum stay in each trade is at least 24 hours unless I am stopped out.

I checket out the GBPJPY market and yes, it's indeed a very interesting market. Great swings there, I'll definetely add it to my watchlist.