I just wanted someones advice.... I am relativley new to trading and have been concentrating my efforts on trading breakouts on the GBP/USD.
I am doing quite well at this however someone made a comment that trading this currency pair I would be more prone to fake breakouts and whipsaws.
They suggested that as a novice the EUR/USD is better simply for the fact that it isn't as volatile and once it does breakout it is less prone to reversing on you.
Is there any truth in this? If so what are the reasons.
I am guessing the less volatile the easier it is to follow your rules and the psychologically it is easier... Am on the right route.
Also is their anything to do with the price movement itself being more definite?
I appreciate your feedback
I am doing quite well at this however someone made a comment that trading this currency pair I would be more prone to fake breakouts and whipsaws.
They suggested that as a novice the EUR/USD is better simply for the fact that it isn't as volatile and once it does breakout it is less prone to reversing on you.
Is there any truth in this? If so what are the reasons.
I am guessing the less volatile the easier it is to follow your rules and the psychologically it is easier... Am on the right route.
Also is their anything to do with the price movement itself being more definite?
I appreciate your feedback