Why are top ranked traders trading EUR/JPY right now? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

5 hardest jobs in the world ranked 10 replies

Right Wrong Right Wrong Right Wrong 13 replies

Price Action - Right To Left Or Left To Right? 4 replies

So how bad is trading forex in US right now? 13 replies

Newb at the right place and the right time 1 reply

Why are top ranked traders trading EUR/JPY right now?

  • #1
  • First Post: Oct 4, 2012 2:58am Oct 4, 2012 2:58am
I am in one of those forex competition and see that the top of the rank are buying EUR/JPY. How does someone see that a certain currency pair will yeild greater results/Pips rather than another currency pair like EUR/USD.?????
Does it have to do with volatility???
  • #2
  • Oct 4, 2012 3:10am Oct 4, 2012 3:10am
Quoting blind88
I am in one of those forex competition and see that the top of the rank are buying EUR/JPY. How does someone see that a certain currency pair will yeild greater results/Pips rather than another currency pair like EUR/USD.?????
Does it have to do with volatility???
which competition is that?
  • #3
  • Oct 4, 2012 3:59am Oct 4, 2012 3:59am
I dont think that relevant but anyway its the roboforex competition
  • #4
  • Oct 4, 2012 6:14am Oct 4, 2012 6:14am
Look at the daily chart. Tell me what you see. Then I'll tell you what I see.
  • #5
  • Oct 4, 2012 12:15pm Oct 4, 2012 12:15pm
I don't think so top ranked trading Euro/JPY. Most of dealing with Euro/usd.
  • #6
  • Oct 5, 2012 8:33am Oct 5, 2012 8:33am
Quote
""I don't think so top ranked trading Euro/JPY. Most of dealing with Euro/usd.""
Some of them switch between EUR/USD and EUR/JPY. My question is why they dont stick to EUR/USD?
Quote
Look at the daily chart. Tell me what you see. Then I'll tell you what I see.
Well for one, the recent gains of the EUR/JPY has been somewhat less than those of the EUR/USD.
mmm... Perhaps the the last retracment on the daily chart is not as steep as the one in the EUR/JPY. (but seems quite minor)
I dunno could not find anything disctinct
  • #7
  • Oct 5, 2012 2:06pm Oct 5, 2012 2:06pm
Quoting blind88
Some of them switch between EUR/USD and EUR/JPY. My question is why they dont stick to EUR/USD?

Well for one, the recent gains of the EUR/JPY has been somewhat less than those of the EUR/USD.
mmm... Perhaps the the last retracment on the daily chart is not as steep as the one in the EUR/JPY. (but seems quite minor)
I dunno could not find anything disctinct
It's been going up for 3 months. What else do you need to buy? This is a good example of thinking too much. It's the need to predict that drives one to do so.
  • #8
  • Oct 5, 2012 2:14pm Oct 5, 2012 2:14pm
Quoting Dopey
It's been going up for 3 months. What else do you need to buy? This is a good example of thinking too much. It's the need to predict that drives one to do so.
Well said Dopey!

#1 reason why traders fail. They see a need to predict instead of just following the trend.

Tell me what you see and I'll tell you what direction you need to trade. Simple as that.
  • #9
  • Last Post: Oct 5, 2012 2:19pm Oct 5, 2012 2:19pm
Perhaps they are engaging in relative strength trading: Buy the relatively strongest currency and sell the relatively weakest currency. Euro has been the strongest risky currency lately while yen has been weakening against the US dollar.
1 trader viewing now