Hello everyone,
Something that I can't explain, I trade the EUR/USD pair using 6 pip renko (wicked) charts even though I'm not loosing but I struggle with it, I use the same setups and entry rules that I use with the ES yet I make a lot more trading only a couple of hours every day than the whole week trading the EUR/USDspot. I use 2 tick Renko (wicked) for the ES and I only risk 4 ticks (50 dollars) for a 10 tick target and I hit it 70 % of the time and rarely I end my trading with a loss but with Forex it's another story, I risk anywhere from 15 to 21 pips basically using the same rules of entry and if I win one I usually end up loosing the next two or just having to leave the market either at a small loss or small profit and after doing so much research i found quite a few traders that traded both that agree that trading the ES is lot easier than trading any of the forex pairs their reasoning is that currency volatility is very very very erratic causing tons of false signals, does anyone here that have tried both feel the same way?
I would never trade currency futures since price volatility is the same as spot, and I do believe if you really want to trade currencies you should go through spot since you can manage your risk a lot better than currency futures. I would love to stay with both since if one is not moving and you can try the other but like this I'm not so sure if spot could be an alternative. I have increased my renko bricks but I like to day trade and not fall asleep looking at the computer. Sometimes I see this market moving for a few minutes and than all of the sudden just hangs in there for hours not going anywhere. I would appreciate any insights from people that have traded both. Happy trading.
Something that I can't explain, I trade the EUR/USD pair using 6 pip renko (wicked) charts even though I'm not loosing but I struggle with it, I use the same setups and entry rules that I use with the ES yet I make a lot more trading only a couple of hours every day than the whole week trading the EUR/USDspot. I use 2 tick Renko (wicked) for the ES and I only risk 4 ticks (50 dollars) for a 10 tick target and I hit it 70 % of the time and rarely I end my trading with a loss but with Forex it's another story, I risk anywhere from 15 to 21 pips basically using the same rules of entry and if I win one I usually end up loosing the next two or just having to leave the market either at a small loss or small profit and after doing so much research i found quite a few traders that traded both that agree that trading the ES is lot easier than trading any of the forex pairs their reasoning is that currency volatility is very very very erratic causing tons of false signals, does anyone here that have tried both feel the same way?
I would never trade currency futures since price volatility is the same as spot, and I do believe if you really want to trade currencies you should go through spot since you can manage your risk a lot better than currency futures. I would love to stay with both since if one is not moving and you can try the other but like this I'm not so sure if spot could be an alternative. I have increased my renko bricks but I like to day trade and not fall asleep looking at the computer. Sometimes I see this market moving for a few minutes and than all of the sudden just hangs in there for hours not going anywhere. I would appreciate any insights from people that have traded both. Happy trading.
