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Currency pair recommendation wanted

  • #21
  • May 31, 2007 8:05pm May 31, 2007 8:05pm
Quoting jimbil
Actually the pips DO matter!

if you have a strategy that works equally well amongst several different pairs. You want to choose the pairs to trade that return the BIGGEST number of pips profit.
What Samuri is talking about is the cost. It costs more to trade GBP/USD over EUR/USD. Right now it would cost me with 10:1 leverage $1,970 to trade 1 mini lot of GBP/USD. It would cost me $1,340 to trade 1 mini lot EUR/USD.

To get the same % change on the account, simply trade 1.45 mini lots of EUR/USD. Booom = GBP/USD. Just about anyway. This is why pips do not matter, only %.

If I wanted a lot of pips I would trade USD/MXN or something.

I still like EUR/JPY. It has a small spread (should be less than 4), and gives some good movement. It also gives you the benefit of the carry trade aspect.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #22
  • Jun 1, 2007 5:08am Jun 1, 2007 5:08am
Quoting jimbil
Thanks everyone

my main original question was, which currency pair/s make as big and easy a pip movement in price as GBPUSD, who's main trading hours are the UK/USA session?

EURUSD is definately too much of a slow mover.

The most likely pairs so far mentioned, with a spread comparably as narrow as GBPUSD seem to be EUR/JPY & USD/CHF. Are there any more?
Hi jimbil,

Are you looking for "pips" or looking for profit? Volatility is a 2 edge sword. Do you trade in mini lots, 100k lots, or standard 1mil lots? What leverage do you trade at? Lots to consider.....
Proper Prior Planning Prevents Piss Poor Performance
  • #23
  • Jun 1, 2007 5:14am Jun 1, 2007 5:14am
Quoting mikehabit
GBPJPY-201
GBPCHF-196
EURAUD-162
USDCHF-145
GBPUSD-128
EURJPY-127
USDJPY-117
EURUSD-102
EURCAD-101
USDCAD-98
CADJPY-93
AUDJPY-90
CHFJPY-89
NZDJPY-85
EURCHF-70
AUDUSD-68
NZDUSD-66
EURGBP-49
Those figures have been reduced GREATLY as of the last few months. EURUSD moves around 70 pips/day nowadays, USDJPY about 80, EURJPY about 110, USDCHF about 80, GBPCHF 135, etc.

I have my own indicator for looking into the Average Daily Range for the last 30 days worth of data (attached below). Make sure to not use it with a broker plotting the pesky 2-hour sunday bar (it messes up the average).
Attached File(s)
File Type: mq4 Average Daily Range.mq4   5 KB | 341 downloads
  • #24
  • Last Post: Jun 1, 2007 5:44am Jun 1, 2007 5:44am
Quoting WTB
Those figures have been reduced GREATLY as of the last few months. EURUSD moves around 70 pips/day nowadays, USDJPY about 80, EURJPY about 110, USDCHF about 80, GBPCHF 135, etc.

I have my own indicator for looking into the Average Daily Range for the last 30 days worth of data (attached below). Make sure to not use it with a broker plotting the pesky 2-hour sunday bar (it messes up the average).
Thanks Mike & WTB .
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