Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

What Are Your Forex Sympathies and Antipathies?

January 28, 2013 (Last updated on May 1, 2021) by

It is in human nature to have some personal (usually irrational) preferences. For example, many traders are sure that euro is doomed as a currency, even though the markets do not indicate that. Others believe that the US dollar is living its last years. Some Forex traders may believe that the future is with CHF or JPY and that all the bearish movement is just temporary for those currencies. Some may go a little further and claim all fiat currencies outdated and expect the advent of the new gold standard.

You cannot say that all such claims are completely groundless. In fact, they all are based on some fundamental facts about a given currency. Yeah, sometimes such strong opinions for or against a currency are influenced more by rumors, but still they rarely turn out to be completely random. I personally believe in a long-term weakening of the US currency — simply because it is still the only globally accepted reserve currency and needs to be emitted in large quantities to accommodate worldwide GDP growth.

Such disposition towards one or more currencies may seriously affect your trades. A good idea is to constantly monitor your positions and try to find biases that could be based on such subjective thinking. The problems start when you find one but fail to modify your trading behavior to eliminate the bias.

Do you have any sympathies towards certain currencies?

View Results

Loading ... Loading ...

Please feel free to share more details regarding your preference of some currencies over the others.

Comments are closed.