How To Use Your Live Forex Trading Market Tickers:
- As with all things trading, this page is best viewed on a laptop or larger.
- As with all things internet, this page is best viewed with Chrome.
The above Live Forex Market Tickers have been laid out so as to give you not just the exact data relative to each currency pair (current price, +/- % and +/- pips, all of which change to green or red depending on the direction of gain or loss) but also an overview of how each base currency is performing against a basket of it’s major counterparties.
Example 1: Take the AUD Crosses below. This ticker quotes the AUD base currency first against 5 of it’s major crosses. If the larger numbers (+/- % and +/- pips) are all green then you know immediately that the AUD is stronger today against it’s counterpart currencies – Essential information if you are currently holding an AUD trade in either direction.
Example 2: Take the GBP Crosses below. This row quotes the GBP base first against 5 of it’s major crosses. If the larger numbers are red across the board then you instantly know that the GBP is weak against it’s counterparties – Again, essential information if you are holding or are considering opening a EUR trade. In the example below the numbers are mixed, so the GBP is strong against some of it’s quoted counterparts and weak against others. As a trend trader, if I’m trading the GBP I like to see it either strong against all of its counterparts (if I’m long) or weak (if I’m short).
Example 3: Let’s look at the JPY Crosses. These are listed as inverse crosses as the JPY is the QUOTE currency and as such is quoted 2nd rather than 1st as with all the other currency pairs. Let’s say that this row is a mixture of green and red data. This would tell us straight away that the JPY is mixed (some strong, some weak) against it’s counterparties. Instantly we would know that the market is neither “risk on” nor “risk off” – An instant gauge of overall market sentiment. In the example below we can see that all BASE currencies are strong against the JPY, indicating that the JPY is weak, and as such we can deduce that the market is currently in “Risk On” mode. However you read this, I would not want to long the JPY today.
So, in a nutshell:
- All/mostly green: your base currency is strong, so you would only want to be long
- All/mostly red: your base currency is weak, so you would only want to be short
- Mixed/green and red: your base currency has no discernible direction, so you would probably want to stay out of this market
I hope this helps explain how I use these live Forex Market Tickers to their maximum potential, enabling me to trade what’s hot, and avoid what’s not.