Currency pairs

What currency pairs would you suggest to start with as a beginner?
Would you suggest to stick with the same pairs?

Thanks a lot

I like three, EurUsd, AudUsd, and GbpUsd. I like the spreads on them and they are very active.

These are good starting points. Try and focus on one currency pair first to get your bearings before you move to another currency.

thanks

Is it true that liquid currency pair means cheaper spreads?

I was advised to avoid GBP/USD while i’m getting started as it might be expensive on the losing side… What do you think of it? Can it be true or the author has very subjective opinion?

Thanks

They can all get expensive on you if you don’t have a system with rules in place. EurUsd is probably my very favorite, I know it the best and the spreads are very low if not the lowest.

Liquid markets are those where there are bids and offers at almost every price.

Like, if the market is 1.6118/20 and is going up, that means once the 20 offers have been lifted, there are 21,22 and 23 offers above it.

You want liquid markets when you are wrong you can get out.

You want illiquid markets when you have it right because the market tends to move quickly in your favor.

I found the best way to start was with one of the major pairs, and learn about that pair. I chose the GBP/USD due to it’s tight spreads and volatility. You can take small profits ‘little and often’ once you know every little quirk with the pair try trading a second then a third etc…

When I started out, I was looking at the 6 majors: EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDCAD
But since then, I’ve realized that every pair has its own personality. You could spend days – weeks – months – hundreds and hundreds of trades – studying only 1 pair, and still not discover all its idiosyncrasies.

I chose EURUSD because it has the cheapest spread and tends to be very liquid and popular. It never gets boring and my mind is beginning to automatically recognize patterns that I see over and over.

I chose AUDUSD, i will try it first. If i decide this isn’t my pair i will try EURUSD and than (if it doesn’t work too) i will take GBPUSD, USDCHF, USDJPY. Thanks for all your advices. I appreciate it very much

All good pairs to play with. Watch the swap on shorting the Aussie though. It can eat a hole in your account in a hurry if you are planning to position trade.