Hello All,
This is my first post, so before I ask anything, I just want to thank the excellent hosts of this site, and the entire active community that makes these forums so great. I’m new to Forex, but I’ve spent a lot of time researching over the last several weeks, and it doesn’t take long to figure out that babypips.com is something special.
Sorry if my question is already answered someplace else. I looked, but I didn’t find it.
Also, I know my question deserves a “depends” answers, but I’m looking for your opinions.
I’m trying to decide on the one currency pair I want to focus on first. I believe I will be mostly day trading, and sometimes scalping. At first, I thought I would go with EUR/USD because it had the highest volumes. However, now I’m thinking GBP/USD, because it’s still in the top four traded pairs, and it may be more volatile which may fit my trading style better. Also, it might be easier to keep track of news and holidays that effect that pair vs. EUR/?, since the EU has so many members with their own news and holidays (or does the number of members dilute the impact of news and holidays for EUR/? so that it doesn’t matter as much?). Finally, until I can do this full time :), I have to squeeze my trading in around my parental and professional lives. I plan to trade the overlap between the London and New York sessions, from 7 AM CST - 11 AM CST.
Thanks!