Quote:
Originally Posted by nasir.khan
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To be honest, the main correlation i see there is that there is nothing I would trade on either
(I assume it was some kind of entry/bounce from resistance type trade? you crazy kids with your touch trades and blind entries and nintendos!)
Quote:
Originally Posted by nasir.khan
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Well, I wasn't recommending those pairs
per se, just saying that if I *had* to only watch six, it would be those. I watch pretty much everything that moves. Just keep in mind that they pretty much *all* affect each other in some way, to some degree.
The main criteria for me is volume. Volume means lots of buyers and sellers, so lots of transactions, so no sudden shocks. Volume breeds predictability, and predictablity makes trading alot easier.
But, if I had to expand my draft picks to double the charts...
The starting six
AUDJPY - yay risk aversion
EURUSD - low spreads, high volume, boring
USDJPY - get some movement in your charts
EURCHF - big bad swissie
USDCAD - me like oil. me like gold.
EURGBP - for all your cross-channel needs.
First round draft picks
GBPUSD - volume with nice smooth transitions
AUDUSD - Another big risk aversion pair that can give some great runs (think carry trade)
USDCHF - the little brother of EURCHF
Second stringers
EURJPY and GBPJPY is a bit of a wash. Either one is fine.
GBPCHF - kinda like EURCHF's little sister. I watch it, but rarely trade it because the signals are usually stronger on USD and EUR
Then you could add some ranging pairs:
CHFJPY - both francs and yen are driven by the same kind of flows, so trading them against each other can be interesting.
AUDCAD - kinda like the less refined younger ex-convict brother of CHFJPY that acts a bit wild and is missing a few teeth (like most canadians

)
AUDNZD - choppier than OJ Simpson in gloves.