Best trending forex pairs 2014
Today I am going to share with you the most useful tool I know for finding which currency pairs are having the biggest moves after all we traders like to trade things that are moving! The Average True Range ATR indicator tells you what the average range over the last X amount of periods has been in pips. By using the ATR reading you will know how big are the current moves of a currency pair and if you should be tightening up or widening your stop loss and take profit levels depending on the size of the range.
You can use this Currency Volatility Chart tool by Oanda to find the currency pairs with the biggest movements. This is a useful tool if you are looking to find quickly which pairs are having big moves at the moment.
Markets are constantly moving between two types of phases most commonly called trending or breakout and ranging or consolidation. Do you think it is smart to use the same take profit and stop loss levels for both types of markets? Depending on your style of trading you will use the ATR differently than another trader.
You will also want to get creative. For example if you enter with one position using the above levels you will also want enter a second position with the same stop loss and a different take profit for example a 1.
But on this second position moving the stop loss to breakeven once price reaches.
What Is the Best Currency Pair to Trade?
You can get extremely creative in your positions and sizes giving yourself a necessary edge in trading. The default and best setting to use for the ATR indicator is to set it to the fourteen period. I have a specially modified ATR indicator that I use which no matter what time frame I am viewing on metatrader 4 it is going to show me the reading of the ATR on the daily time frame plus it also automatically does not include the Sunday pre-market price bar making this much better than the ATR indicator that comes default with metatrader.
You can download it here. Yes, I will add many video tutorials.
Top 6 Most Tradable Currency Pairs
If you or anyone has any suggestions of what will be helpful please let me know. Hi Jordan, great work done! I enjoyed your video tutorial and set up the charts accordingly. Waiting to practice your methods of trading! Jordan, Thanks fot your insights. I just today signed up for a FinFX Account, after I used to have OANDA.
I will get deeper into money management.
For leverage I use 1: Which currency pairs do I trade and why? Hi Jordan Thank you for sharing your knowledge.. Finding more and more on your site.
Forex | Currency Trading | Forex Trading Tips
Which Currency Pairs Have the Highest Volatility? My Settings and ATR Indicator Download The default and best setting to use for the ATR indicator is to set it to the fourteen period.
Share This Story, Choose Your Platform! Above of all I am a husband, a father. I am also a trader with a great passion for the markets. Most of all how to profit from them.
Jordan April 28, at 5: Dhirajlal Radadiya May 31, at 3: Thomas May 31, at 9: Jordan June 3, at 8: Hi Thomas, I will get deeper into money management. Andrew Brady June 15, at Leave A Comment Cancel reply Comment. Help Section Can I use any Broker? Download True Trend Indicator How to setup 8 hour Charts on MT4 FAQs. Three Systems In One Trend-Following System Counter-Trend Trades Scalping Strategy Trinity FX: Script for Placing Orders.
Conquer V2 Trading System How Conquer V2 Works Conquer V2 Flow Chart.