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The Disciplined Trader

'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com

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Psychology Piece - Some currency pairs are better to trade than others… Right?

Posted on August 24, 2009 at 22:20 in Uncategorized by Pierre Charlebois

In some ways some pairs are better than then others to trade due to liquidity and spread but as long as you stick to the majors then there really isn’t much difference.

The reason I bring this up is I have a friend who hates trading the USD/CAD. He even calls it ‘Evil’. He believes that this pair does not follow conventional patterns movement norms.

Let me tell you this; If in your mind you really believe as my friend does that some pairs are really not tradable then you may very well never really be a very successful trader. Not because you choose not to trade many pairs or stick to one, but because you are putting the blame, therefore the responsibility on forces other than your ability as a trader.

He used to say to me: It doesn’t mater how I trade the USD/CAD… It always beats me.

Choose not to trade certain pairs for sure… But put the responsibility for the outcome of all trades, good or bad, squarely on your own shoulders. You see if a bad trade is the fault of somebody or something else, then who is responsible when the trade is positive. Otherwise you’re not trading… You’re guessing!

One Response to “Psychology Piece - Some currency pairs are better to trade than others… Right?”

  1. on 20 Dec 2009 at 10:21 am1subhash

    In my experience USD/CAD is harder to trade in shorter time frames because I find price spiking beyond solid fib levels. It is very rare in cable or euro. So I wait for deeper pullbacks to enter a position.

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