Aud/usd

[mmabotsa]

Hello everyone! I am currently studying AUD/USD on my demo account…is this a best currency pair for newbies or must i just stick wth EUR/USD?

[SammyW]

I have only demo traded AUD/USD and EUR/USD on my demo account too. A couple of months ago I went live and have only traded AUD/USD. I have read people’s comments on sticking to one or two pair to begin with, its even recommended in the pips school section, and have to agree with them. I was pretty overwhelmed until I focused on two pairs. It’s hard enough to make $$$ in this market without being overwhelmed!

I’m sure you will get better advice than this, but pick two and stick to them until you really get the hang of what you are doing. Good Luck!!!

[yunny1]

Hello everyone! I am currently studying AUD/USD on my demo account…is this a best currency pair for newbies or must i just stick wth EUR/USD?

In my opinion EUR/USD is the best pair for a newbie, because the high liquidity is a bit more “technical” than the other pairs. Any major is also good (eur/usd, usd/jpy, usd/chf, gbp/usd)… although I think AUD/USD is also a good pick for a beginner…

[EmeraldEyes]

Watching one pair is like only paying attention to one team in sports, but betting on the league.

IMO, go ahead a follow one or two for a week but quickly expand to all the major pairs. After you feel comfortable in keeping up with the news, include the other pairs along with commodities (gold,oil, then global stock markets. Everything is connected, every pair will retact differently depending on whats going on with the market.

ie; you’d like to short Aud but the Usd isn’t all that good either. Aud/Jpy may be the pair of choice to short instead of Aud/Usd. Try to pair the stronger currency vs the weaker. Those trades [B]will [/B]yeild more pips.

[medisoft]

Watching one pair is like only paying attention to one team in sports, but betting on the league.

IMO, go ahead a follow one or two for a week but quickly expand to all the major pairs. After you feel comfortable in keeping up with the news, include the other pairs along with commodities (gold,oil, then global stock markets. Everything is connected, every pair will retact differently depending on whats going on with the market.

ie; you’d like to short Aud but the Usd isn’t all that good either. Aud/Jpy may be the pair of choice to short instead of Aud/Usd. Try to pair the stronger currency vs the weaker. Those trades will yeild more pips.

Maybe euraud is the best on this time. Weak eur and strong aud

[elephant]

I actually studied that pair too when I first started out a couple months ago!

I have only demo traded AUD/USD and EUR/USD on my demo account too. A couple of months ago I went live and have only traded AUD/USD. I have read people’s comments on sticking to one or two pair to begin with, its even recommended in the pips school section, and have to agree with them. I was pretty overwhelmed until I focused on two pairs. It’s hard enough to make $$$ in this market without being overwhelmed!

I’m sure you will get better advice than this, but pick two and stick to them until you really get the hang of what you are doing. Good Luck!!!

[TheLastBear]

You should pay attention to more than just one pair. There are so many opportunities and you should be aware of what is going on in general. As Emerald Eyes said, paying attention to only one pair is like paying attention to one sports team and ignoring the entire league plus what may go on outside the league.