Shane got such a positive response to his first guest blog post (below) that I wanted to keep his momentum going and give him space to give you a little peak into his world of Forex trading. Many of you have checked out his “Evil Genius Cheats” newsletter, but if you haven't I recommend you do so before he won't let any more free people in. Please enjoy the article, check out his “Evil Genius Cheats” newsletter, and let the comments FLY!!
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Ask any trader what currencies they trade and 99% of them will mention the major pairs. The EURUSD, GBPUSD, USDJPY and a handful of others. These are very active, very liquid and perhaps out of habit, the most widely traded.
What about the “exotic” pairs? The Danish Krone (USDDKK), Singapore Dollar (USDSGD) and a host of other pairs, give ample opportunity for the professional trader to make money. Right away, the main argument will be about the spread to trade exotics. True, the spread is much higher than EURUSD but look at the pip cost below while trading 100k. It is not the standard $10/pip/$100k.
