What Markets to Trade

There are thousand of markets in which you can trade along with optimum times also. The variants are once again limitless pretty much.
One thing to consider is where are you situated in the world?
For example, you won't want to trade British Pound if you are in East Asia.
Why?
Simply because when it's morning in East Asia it's the middle of the night in England so the volatility of the Pound market will probably be very limited.
That is of course, unless you are planning to trade through the night, which I would advise against.

So, to summarize, ask yourself which is likely to be the best market for you.

For me, although English, I am based in Asia. Therefore, if I want to trade in the morning then I should look for an Asian currency to trade. I can of course also opt for the Australian or New Zealand Dollar, but the volumes traded are quite small by comparison.

What I trade is the Japanese Yen and all of my posts , set-up ideas and charts will feature Japanese Yen.
The Japanese Yen is paired with the U.S dollar so it doesn't really matter where you are in the world, there will more times than not be activity in this market.

Do try to stick with one currency. You can be a jack of all trades but personally, I find it easier to master one thing at a time. This goes back to what I was saying earlier about patience.
Since many markets are USD based, or simply interconnected in some way, then if there's nothing happening in the Yen market, there's a good chance there will be nothing happening in many other markets.

Once again, patience is the key ingredient. If there's no Japanese trade available, then spend your time studying the posts or interacting with other group members.
Once the system has been laid out and everything digested, I will post trade ideas and commentary, so there will always be something to do.

One other point worth a mention is that FOREX brokers are for the most part, unregulated. This means that there could be forces at work to ensure your almost impossible job becomes even harder.
Therefore I strongly recommend playing the Yen futures market.

Now before you dismiss what I say, do understand that there's a couple of very important things to consider when trading the markets.....
1) What is everybody else doing
2) How much a trade is costing you

If your business makes $10,000 per month but your overheads are $11,000 then you are losing money, so, why pay 2 or 3 or 4 pip spreads when you don't have to?
With futures it's a 1 pip spread and it's called a tick.

If you do not have access to helpful insights as to what other traders are doing then you may as well be tossing a coin!

This system is partially based on knowing what other traders are doing.
By way of analyzing how many buyers vs how many sellers (volume) we can get a rough idea of the likely next direction. By that I mean we have more of an idea than if we were blindfolded.

With FOREX brokers, the volumes are indicative of how much volume has travelled via that particular broker. With Futures markets we have so much more accuracy and everything is in real time.

I realise that FOREX is a big word in Google search engine but in my opinion, Futures markets are safer, less vunerable to manipulation and give much more reliable data.

Which Futures broker?
Completely up to you. I am not here to tout any brokers, but for the purpose of these demonstrations I use a piece of software called Zen Trader.
There are other variations of the same software out there, all have free to use demo accounts and I find it suits my needs very well. I will begin to show you the platform in the next post.