In this week’s market analysis on the Best Currencies to Trade Right Now, I’ll be looking at the currencies we can trade.
They are none other than the AUD/USD, NZD/USD, and USD/CAD. These commodity currencies are trending well right now and it makes sense to hop on board these trends.
Lastly, I talk about Gold and why it’s important to always have a stop loss when trading.
The Best Currencies to Trade Right Now:
I hope you have enjoyed this week’s market analysis. As always, comments are welcomed and encouraged. Cheers!
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Thank you Maurice 🙂
what is good exit strategy . if you use M.A to get out then most of the time you give back a lot to the market. and if it goes sideways your screwed over and over.
then your 200 pips up you get no close above or cross M.A and your 200 pips are gone again.
or how do you trail your stop to get the most out of the market.
what you can do is look at the prior monthly candle for direction. if prior monthly candle made an higher high and higher low. then this month you look to go long. if then the monthly candle makes a lower high and lower low. then the new month you look to go short. (monthly for direction if you trade daily ,H4)
works pretty well, not all the time. you still have your technical analysis to see if the market reverse or not.
A good exit strategy is an exit approach you feel comfortable using.
I’m a trend follower so in order for me to capture trends in the markets, i will have to give back profits. That’s the only way i can capture big trends in the market.
Thank you for sharing your approach 🙂
Hi Rayner, may I know if it is advisable to keep your positions open during the weekend until the opening week ?
This depends on your trading approach. For day traders they usually close their positions within the day.
For position and swing traders, they usually hold their positions over the weekend. For me i’m a position trader so yes i hold positions over the weekend.
Do you ever use a guaranteed stop loss ?
I don’t think my broker offers a guaranteed stop loss.