Advantages of exotic pairs.

Since i started trading on forex, i've never traded on exotic pairs. I noticed that most traders also don't trade them. Now, i'm trying to find out whether these pairs have any form of advantage. I need your opinion guys.

HKDCHF used to be good for scalping.

I don't think it's a good idea, you should always choose the currency pair you are more familiar with and willing to study on.

forex market is an international market. there are many traders for every currency pair.

They are usually more volatile and easier to see patterns think about it when market makers want to trap retailers they will do in on the majors 90% of the time as the most money is there.

I noticed that nobody has mentioned the spreads on these exotics. So many of them will cost you a lot of money up front upon entry of the trades. This is one reason so many people don't even think about them in the first place. The other reason is that they can be way too volatile. Not worth the headache, unless you really know what you are doing and you know the specific exotic intimately (no pun intended).

I noticed that nobody has mentioned the spreads on these exotics. So many of them will cost you a lot of money up front upon entry of the trades. This is one reason so many people don't even think about them in the first place. The other reason is that they can be way too volatile. Not worth the headache, unless you really know what you are doing and you know the specific exotic intimately (no pun intended).

 

the truth is alot of brokers widen the spreads for exotics due to the lack of liquidity. therefore alot of retail traders do not find it worthwhile to trade exotics. also such pairs are not as volatile sometimes can just get stuck in a tight range for weeks.

the truth is alot of brokers widen the spreads for exotics due to the lack of liquidity. therefore alot of retail traders do not find it worthwhile to trade exotics. also such pairs are not as volatile sometimes can just get stuck in a tight range for weeks.

 

 

Choosing mainstream pairs is always not a bad idea. you will have sufficient information to work on.

The main advantage of Forex market is the volatility. When you trade exotic pairs you loose a lot of it.

The main advantage of Forex market is the volatility. When you trade exotic pairs you loose a lot of it.

 

My point is also that we should focus on the most familiar things.

i know of traders who have made tons of money on SEK, SGD, DKK all because they knew it was not so volatile and the central governments have signal their monetary policies opening. so i agree that if you are familiar with some currencies then there's money to be made there too.

Exotic pairs has some crazy spread to trade with but what I heard they easy to predict and trade with

I never trade exotic pairs cause its high spread, but it really move slower than the usual pairs so it is easy to predict

They are not easy to predict at all. If this were true, everyone would be rich.

If you need some action in a pair - take a look at Yena crosses, GBP/JPY, NZD/JPY, AUD/JPY.

Hmm, I usually just trade with major pairs. I, too, am interested if anybody trades with exotic pairs or even cross. I just want to get a feel for what those markets are like.

not easy to predict at all. If this were true, everyone would be rich.

The main advantage of Forex market is the volatility. When you trade exotic pairs you loose a lot of it.

They are very sensitive to political news and you can blow out your account in your sleep.

I don't think it's a good idea, you should always choose the currency pair you are more familiar with and willing to study on.

forex market is an international market. there are many traders for every currency pair.

politics are a big factor in many of these pairs. We cannot predict politicians

I think exotic pairs should be studied as sometime the majors are very volatile and hard to trade in these times we can shift our concentration to these exotic pairs there are chances that these might give good returns.

have anyone here even trade usdrub pair ? weeks ago many broker suspend and cease out usdrub from their platform, and there's several report entry position are force close, i dont know if the brokers taking responsible for this one sided act. firstly i dont take a glance with usdrub, and i never trade this pair ever since, just when many people talk about it especially at FF ( there's a thread discuss ruble, the one with putin meme's ) i take part my trade with armada markets platform, and when the rumours spread many brokers suspend the pair, several member said got an email from their brokers regarding those issue, while i'm not getting any email from armada and my ruble trade run normally.

have anyone here even trade usdrub pair ? weeks ago many broker suspend and cease out usdrub from their platform, and there's several report entry position are force close, i dont know if the brokers taking responsible for this one sided act. firstly i dont take a glance with usdrub, and i never trade this pair ever since, just when many people talk about it especially at FF ( there's a thread discuss ruble, the one with putin meme's ) i take part my trade with armada markets platform, and when the rumours spread many brokers suspend the pair, several member said got an email from their brokers regarding those issue, while i'm not getting any email from armada and my ruble trade run normally.

 

I tried USD/RUB last time it was on January, I bet on Rub drawdown as it was expected after Christmas spending in ruble.. Made some profit but spreads were higher than before it was a good cut from profits too.

I think exotic pairs should be studied as sometime the majors are very volatile and hard to trade in these times we can shift our concentration to these exotic pairs there are chances that these might give good returns.

 

Could you give what exotic pair example??

Hard for trade?. i think it's not exotic pairs,,,

I guess it all depends on the exotic pair we are talking about, because it is not the same talking about SEK (from an EU country with strong and stable economy) than talking about ARS (with a more instable economy). I don't think exotic pairs are suitable for non experienced traders and one should be very familiar with the currency pair and the countries involved.