One of the most common mistakes traders make when moving from majors to exotics is treating all exotic pairs as if they trade in the same li

One of the most common mistakes traders make when moving from majors to exotics is treating all exotic pairs as if they trade in the same liquidity environment. They don't. The liquidity profile of $USDMXN during the New York afternoon bears almost no resemblance to $USDTRY during the Asian session. Understanding when - and why - each pair is most liquid is the difference between trading with the flow and fighting against structural thinness. The Liquidity Fundamentals For exotic pairs, liquidity is tied to three overlapping factors: the local market's business hours, the corresponding US or European session overlap, and...