Do you really trade on Exotic trading pairs?

[Tom Latham]

I guess, most of the traders try to use only major FX currencies (including me)! But, have any trader who like to use exotic too? What’s the main reason of using exotic pairs? Please share your opinion.

 

[Achille.Lycurgus]

Hi Tom, what is it the exotic trading pairs?

 

[lioneld]

Hi Tom, what is it the exotic trading pairs?

Hello, which currencies are usually for devolving nation like EUR/TRY (Euro/ Turkish Lira). Maybe, he will describe more.

 

[sininfinity]

Hi Tom, what is it the exotic trading pairs?

Go through this lesson https://www.babypips.com/learn/forex/buying-selling-currency-pairs

It will help you understand different types of pairs.

 

[Tom Latham]

Go through this lesson https://www.babypips.com/learn/forex/buying-selling-currency-pairs

It will help you understand different types of pairs.

Great job @sinin; yes it’s a useful link on that lesson! By the way, exotic pairs are more risky to use than the major pairs (according to my personal trading experience).

 

[sininfinity]

Great job @sinin; yes it’s a useful link on that lesson! By the way, exotic pairs are more risky to use than the major pairs (according to my personal trading experience).

Well that's what other good traders say. lol

One of the reasons that exotics are a turn off for me is their huge spread.

 

[Tom Latham]

Hardly on my part. First, he spreads aren't funny, even as low as tenkofx offers on spreads, I hardly trade exotic pairs. I stick to the majors. When you have profit coming in a certain way, what's the need to change that.

So, are you using the same trading plan as like the major? Or have any special one?

 

[Tom Latham]

I am a news traders, which makes me more interested in the major pairs, since they are highly volatile during big events or news release. I don't have issues with order execution on the tenkofx mt4 during critical news update.

Wow, that’s really great! May I know your favorite news session’s name (like FOMC, NFP etc)?.

 

[Changer]

I would not trade the exotic pairs. I always trade on the pairs which are traded with high volumes. I think we all have to trade major currencies as the spreaad between them is really low. Spread plays an important role in trading as far as I am concerned. Thanks!

 

[Tom Latham]

I would not trade the exotic pairs. I always trade on the pairs which are traded with high volumes. I think we all have to trade major currencies as the spreaad between them is really low. Spread plays an important role in trading as far as I am concerned. Thanks!

Good plan. By the way, may I get the list please? If you are interested actually. Thanks in advance.

 

[Oscar Shumack]

Be clever in using leverage and trading spread. Traders are mostly ignorant of the necessity of using narrow trading spread, which lies between ask and bid price.

 

[Nayek Pichai]

To come out of this problem, traders have to be very much cautious and should seek advice from those who already succeeded. Truly indeed, we are out of these qualities that kept us apart from reaching our target.

 

[LouBega88]

We can hardly determine how to leverage we should take based on condition so I call it a brain-shaking factor.

 

[Eduardo Lucchese]

Focus on both technical and fundamental analyses because these analyses serve traders with better market forecast.

 

[Alexander Hudson]

Turn Forex the best opportunity for you. You must start with a reliable trading broker. Because, regulated Forex brokers are safe to trade!

 

[Alexander Hudson]

To avoid being in a dilemma, you should avoid trading in confusing zones. So, traders have to be cautious about every trade they open.

 

[Bahiya Shinam]

The market is famed as the most liquid and volatile market in the world where more than $4 trillion dollars is invested a day.