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If so, my two cents is that you should trade the USDJPY and EURUSD. They seem to be slightly more predictable in my book. I would also never recommend trading in currency pairs that do not include your home nation's.
Hey you guys have you tried any of the signal providers platform? If so would you like to share your experience with them? I agree with the post above that trading your own currency is much more predictable, but in case one would like to get into something more 'exotic' with higher margin, why not follow smb prosperous with automative signals? .....
I agree with this. You can get into trouble on contract rollovers and such, and its not quite as intuitive as trading X dollars for X euros at a set exchange rate, for example. A lot of people also get into trouble here as well when they overload themselves on pairs they trade. Stick with one or two for now that have your home nation's currency in it, it makes it easier to follow the news of the regions the money comes from. You pretty much need to pay attention to fundamentals on some level. I have gotten myself into trouble in the past when I missed economic numbers coming out. Basically, it stopped out my trades when I could have taken a decent profit.
I personally don't follow gold that much because of reasons I will mention, but I am sure it would be worth trading if you choose to follow it closely. Gold pretty much moves opposite of the stock market these days due to the banking and other financial institution crisis since its seen as a safe haven. It will not ALWAYS do this, but I suspect it will as long as the global economy continues to be uncertain. I am sort of skeptical that gold can continue to rise forever, and I sort of feel like its nearing a peak so I am avoiding it right now. The rate at which it grew over the last 7 years makes me afraid its going to be a bubble here someday. That being said, I have absolutely no real technical analysis nor fundamental analysis to support this since gold already blew through levels I thought it would maintain. Many people that are much more successful traders than I am are advocating portfolios that have 15-20 percent gold in them. Perhaps someone else with more experience can comment and help out here.
If you take a look at XAUUSD growth since 2000, it has been exponential, and nothing can maintain that sort of growth forever. Im only eye-balling this rather than doing an actual exponential regression, but at the rate its going you would expect prices of darn near 3000 in 2013-2014 if it maintains this growth level. I find that hard to believe.
In fact, nothing can even maintain linear growth forever. There's an interesting article about this written by a physicist. Its sort of a scary article, because it basically argues that one day we will not be able to expect growth in economies at all. Not a good thing for traders. I would recommend reading some articles from the following guy's blog if you are interested.
Wow!!! That's some really wicked stuff!!! I will investigate this theory further.
Thank you for the detailed reply less people nowadays actually have the time and energy to post such nice info.
Yeah, I have noticed the trend for gold bubbling up the last couple of years, more and more economists are expecting it eventually to burst, but so far it is still continuing steady to grow.. I am not a supporter myself of linear models of explaining anything more complicating stuff than a simple linear function of y = a x b, I suppose that's why the linear regression does not hold and when it comes to econometric models there is still to be done concerning the convexity of the factors.
Funny thing about my last post, I said gold couldn't maintain exponential growth forever, and now its down around 200 points. Haha.
As far as your question about signals, as long as you watch its draw down and PnL I don't see anything wrong with using them. Some signals are generated by real traders either trading simulated accounts or real accounts.
I will investigate this theory further. 
less people nowadays actually have the time and energy to post such nice info.