Reply To: Discuss Forex Day Trading For Beginners

#183264
James Barra
Moderator
    DayTrading.com Team

    Hi Thorian,

    Thanks for your message.

    Exotics can be suitable for day trading but there are some key considerations to weigh up:

    • Exotics tend to exhibit higher volatility than majors, providing opportunities to profit from significant price movements over a short period.
    • Exotics tend to have lower liquidity than majors which may result in slippage (the difference between the requested and actual price).
    • Exotics tend to have wider spreads and higher trading costs than majors which can impact the profitability of short-term trading strategies.
    • Like day trading any currency pair, risk management is essential.

    Among the most popular and traded exotic currency pairs are:

    • USD/ZAR (US Dollar/South African Rand)
    • USD/SGD (US Dollar/Singapore Dollar)
    • USD/INR (US Dollar/Indian Rupee)
    • USD/HKD (US Dollar/Hong Kong Dollar)
    • EUR/TRY (Euro/Turkish Lira)