Currency Pairs

Every currency pair has qualities unique to it. Find out what those qualities are.

Much has been written about the suitability of technical analysis for trading in the currency markets. While this is undoubtedly true, it can leave traders, particularly those new to the currency markets, with the impression that all technical tools are equally applicable to all major currency pairs. Perhaps most dangerous from the standpoint of profitability, it can also seduce traders into searching for the proverbial silver bullet: that magic technical tool or study that works for all currency pairs, all the time. However, anyone who has traded forex for any length of time will recognize that, for example, dollar/Yen (USD/JPY) and dollar/Swiss (USD/CHF) trade in distinctly different fashions.

Getting Started in Currency Trading - A Primer for the New Trader

Getting started as a currency trader is easy. But doing it correctly can make a big difference to you chances of success. In Forex the statistics are probably as bleak as in futures where nearly 90% of new traders fail; some very quickly.

I have traded futures, stocks and (since 1997) Forex. I made many mistakes early on; most traders do. But I was fortunate to have an experienced trader as a mentor. Had I followed all of his advice I'm sure I could have made my early trading life easier. But the markets are exciting and we tend to be caught up in that excitement.