Trade Like a Forex Time Machine

Have you ever noticed that one trading strategy may work absolutely beautifully with one currency pair, but it may fail miserably with another? That is because each currency pair has its own personality, special behaviors, and idiosyncrasies. And if you don’t understand and pay attention to these differences, you will be leaving money on the table. So let’s look at which currency pairs are the absolute best for range trading.

Every currency will range at one time or another. Especially after large moves, traders need to take a break and step away, and so the currency tends to range back and forth. But some currency pairs are absolute goldmines for trading ranges.

Let’s start here – you know that interest rates are a huge factor (in fact, maybe the single most important factor) when it comes to the foreign exchange. You will get the best range trading opportunities on currency pairs where each country’s interest rate is similar.

So that means that currency pairs like the EUR/CHF and the CHF/JPY are going to be good excellent range trading pairs. That is because their interest rates are very similar, so money is not flowing strongly into either currency in comparison to another. Bring up a chart of the either of these currencies and you will see that they do not move around that much.

On the other hand, currency pairs whose countries have large interest rate differentials between each other (i.e. AUD/JPY and AUD/CHF) will tend to range much less.

Some quick basics on range trading:

1) You don’t have to wait for the price to actually hit the top and bottom of the range to enter a trade. Divide the range into 4 even sections, wait for the price to reach the upper or lower quartile, and then look for indications the market is turning.

2) Use Bollinger bands, the ADX indicator, or the Average True Range indicator to tell you then the market may turn.

3) Always put your stop loss outside of the range – never inside.

Strategy is key when it comes to the currency exchange. This market offers greater volatility and liquidity in most cases and obscene near constant trading hours. While there are advantages to trading in this market, there are greater challenges, as well. This is an article on the best forex strategy which is now embraced by more than one third of all traders in the forex market today.

The best forex strategy which I’m referring to which +30% of all traders are currently using is running an automated forex program to carry out every aspect of forex trading on their behalf. What does this mean? These are fully automated trading programs which are run on your computer and keep constant tabs on real time market data via internet connection around the clock and trade accordingly.

When I say they handle every aspect of trading, more specifically I mean they first scour the market looking for profitable, low risk trading opportunities. Once it’s found what it deems as being a high probability trading opportunity, the program invests accordingly in that currency pair, then follow the trade’s performance along in the market. Once that trend inevitably reverses, it trades away the now bad investment, thus shielding you from loss, and starts the whole process over again.

Because these programs keep a constant vigilant watch over the market and are connected to real time data, they are able to recognize potentially profitable or harmful changes in the market, assess what to do, and trade accordingly before their human counterparts. These programs are called the best forex strategy for that reason and because no human emotions or error factors into its decisions, every move is based on cold algorithmically crunched market data.

For all of this, these programs have become especially popular amongst first time and more casual traders without all the time to devote to analytics that they would like. As the technology continues to improve, we’ll likely see more and more traders embracing this automated technology, eventually breaking the 50% mark.

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