Thursday, May 14, 2009

Currency pair specialization

What?! No fancy chart? No, not this time! Relax will ya!
I want to mention something about specializing in different currency pairs. It wouldn't be such a bad idea to actually focus on one pair for an extended period of time. For example I've been following the EUR/USD pair for a few months now, occasionally taking a peek at the USD matched up with the JPY, NZD and AUS. But the fact of the matter is that once you start following a pair, even if there is not much volatility to be found in it you can discover certain price patterns.
By following I mean not only technical analysis but a mixture of both technical and fundamental. In my case, I've been monitoring the EUR/USD, coming to find out that I'm more accurate then when I'm jumping from one currency to another. Try it for yourself, just for a few weeks and see if you can make a more accurate analysis then for example a pair you hardly trade.

Disclaimer:

All opinions expressed, trade recommendations/advice on this website are solely of John van der Munnik and are not affiliated with any investment firm or any other organization. You should not make an investment only based using this website VDM Trading for your trading needs without seeking help from your own financial advisor.