What is a good pair to start with?

Hey I’m fairly new to forex. I just finished preschool in the pipsology school and I wanted to see if anyone has some advice on a good pair to start learning with. I have little idea the advantages and disadvantages of each.

Thanks,

Hi , i m new too, but i consider that you cant make money on a range market such as EUR/USD. Instead of this it s very much better to pay attention for the currencies which are trending - such as GBP/USD. There s strong trend down, even though there’s always a risk , that a correction coming soon. But the most important thing is, of cource, money management . If your risk is >1% /pro trade it s OK. But <1% you probably could lose the deposit (like me recently). So i m looking for pairs which are in strong trend. Just my opinion. Good luck!

I play with a 100€ deposit and i sell a microlot GBPUSD. Be aware that this pair is very volatile - it can fly down 90 pips in just one second. I place stop 20 pips and take profit 40 pips. So i have 1:2 risk/reward.

That really depends on the way you want to trade. For short-term trades and scalping a pair like EUR/USD seems to be the most suitable. If you’re interested in long-term trades then perhaps something like USD/CAD would be more suitable, although that pair too has been quite choppy for months now.

If looking on gold which in platform use symbol xaudusd, this is great average movement daily and will profitable but also as risky instrument trading, usually spread for gold also higher than usual pair, for trader that like with challenge use gold on spot market this is very promising

Stick to the majors for now… you’ll find if you concentrate on minimum pairs it will be better for you

I too think that sticking to the major pairs is the most practical approach for a newbie, because there’s the most information about them in terms of analyses out there.

Because of low volatility EUR/USD is the best trading pair to start with! I may suggest you, please don’t concentrate on multiple trading pairs in your beginning stage! It will destroy your learning concentration as well as interest! In addition, most of the new Forex traders start their trading career with this popular trading instrument actually, and you can do so!

Until you get a hold of the correlation that major pairs have with other pairs, sticking to the major ones is the best option.
Hell, even sticking to one or two of the major pairs is even better sometimes. That’s what I did (started with EURUSD and GBPUSD, but of course they are too volatile now)

I think, you should start with EUR/USD or GBP/USD…as these pairs have good movement.

As EUR/USD is one of the majors as well and most of the traders trade in this pair to EU is the best pair to start with.

Eur/Usd is fav of every trader and you can also work with this easily. Most of the trader trade with this one only, next suggestion will be any JPY pairs if you are good at risk management.

EUR/USD tends to be prone to long consolidation periods though. I would recommend to start with a pair that moves more smoothly, like USD/JPY.

I started with EUR/GBP however with how GBP is I’ve kind of moved away from it and I’m trading EUR/*** Pairs I find them predicable and stable

I agree. EUR pairs are good, I started with EURUSD and trade it mostly.
GBP is not very strong due to brexit, so I prefer not to trade it at all. All that black swans… Nah

Yeah, with everything that is happening I’ve been avoiding it, I started trading it again once it became easy to predict again but now it’s back to the ‘Black Swan’ as you said

Majors… majors are a good choice to start with. EUR, USD, etc. They are pretty peredictable and comfortable to work with. Anyway, you’ll have your experience and maybe exotic pairs would be more interesting for you. I advise you to try several pairs on demo to see your individual preferences

It all depends upon the trading style that one want to adopt. If you are interested in range bound markets and want to involve in scalping then you can look in to the currency pair like EURUSD, this currency pair is very stable and range bound.
However, if you want to trade in currency pairs which have the potentials to generate a good amount of profits then you should be looking for the volatile currency pairs like GBUSD, GBPJPY & NZDUSD. These currency pairs are more volatile as compared to other currency pairs, giving the potential of higher profits in small time frame but your risk also get increases.
I would recommend you to start trade in some stable currency pair like EURUSD as you wouldn’t be at much bigger risk if trend goes against you. However, no matter which currency pair you take the success would depends on whether you are able to create a successful strategy based on the market conditions and are able to rightly find the turnaround points and breakouts.

I think so. Best the for the new comers.

I think it’s best to begin with major pairs like eurusd and eurchf, because the volatility for them is usually really good.