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Daytrading the Forex can be quite a challenge, even for experienced traders.. and in this one person's opinion it is one of the hardest instruments to trade, especially for beginners and for those depending mostly on tech analysis. Forex is whipped about considerably by news and you really have to be on top of your game to even have a chance of consistent profitability. Forex lends itself better to swing trading than daytrading but you better have had huge amounts of screen time and more than a smattering of education about what drives those markets and when. |
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If you think forex is whipped around by news you should watch the fixed income markets. You've never seen anything nearly as crazy as the Bond market when the Payrolls figures come out well away from expectations. Yee-haw!
As to JPY, I actually disagree. I think it's easier than most currencies. Stay clear of the GBP in all formats while you're learning. It's very choppy. The EUR is good. AUD tends to move in slow trends. CAD has its moments.