Best pairs of currency to trade

[mystikdragon7]

I was wondering what are the best pairs of currency to trade at the the same time. Example eur/usd and usd/cad, or eur/usd and usd/jpn? Has anyone done any trial and error with this?

[mystikdragon7]

Anyone with an opinion?

[Earl]

eurusd is what faps says to use..

I picked usdcad because it doesn't have big rapid movement and I just wanna hit 20 pips here and there...

alan suggested today usdchf because of the good movement..

I personally don't like usdjpy...I don't think it works well with faps

[mystikdragon7]

I personally don't like usdjpy...I don't think it works well with faps

I'm thinking I don't like it either. I started several demo accounts and was trading EUR/USD and JPN/USD and the JPN/USD lost me the most money and has brought my starting balance down about 80%. When I manually traded it I did really good so I started to let faps trade it for me. OOOPS:eek:

I think I will try the EUR/USD-UDS/CHF tomorrow and see how it goes.

[alan]

I was wondering what are the best pairs of currency to trade at the the same time. Example eur/usd and usd/cad, or eur/usd and usd/jpn? Has anyone done any trial and error with this?

You mean with FAPS? Well "officially" FAPS is meant for EUR/USD only.

I did a few backtests a while back and found that it works equally well on GBP/USD, but I wouldn't trade that pair due to higher spreads.

I guess if you're trying to build a hedge with FAP you'd want to use inversely corellated pairs such as EUR/USD & USD/CHF. This may help you:

Examples of same direction moving currency pairs are:


EUR/USD and GBP/USD
EUR/USD and NZD/USD
USD/CHF and USD/JPY
AUD/USD and GBP/USD
AUD/USD and EUR/USD

Inversely moving pairs are:

EUR/USD and USD/CHF
GBP/USD and USD/JPY
GBP/USD and USD/CHF
AUD/USD and USD/CAD
AUD/USD and USD/JPY

Some interesting an relevant article:

http://www.investopedia.com/articles/forex/05/051905.asp

I also attached a useful percent change indicator for MT4.

[alan]

I'm thinking I don't like it either. I started several demo accounts and was trading EUR/USD and JPN/USD and the JPN/USD lost me the most money and has brought my starting balance down about 80%. When I manually traded it I did really good so I started to let faps trade it for me. OOOPS:eek:

I think I will try the EUR/USD-UDS/CHF tomorrow and see how it goes.

Right, but I do hope you guys realise that by using inversely correlated pairs with FAPS you ARE NOT building a true hedge because FAPS will NOT necessarily take both side of the trade. What i mean is that you may be long EUR/USD and long USD/CHF at the SAME time with FAPS and this is no hedge.

If you wanted to build a hedge with FAPS you'd have to set it to trade in only ONE direction per pair...ie long EUR/USD short USD/CHF