What are you basing this on?
According to me , any currency can be good if you can analyze them by passing a long time.
did you get maximal result by using major pairs particularly when scalping ?
success in scalping completely depends on lowest spreads currency pair, otherwise scalping can be useless.
in spit of lowest trading spread good result will not come out from scalping if you donāt have long term experience.
its a combination , narrowest trading spreads currency and good trading knowledge. thatās all.
Well said. At the end of the day if you have enough knowledge about the behavior of the pair then you can comfortably trade any pair. In fact theRe are some trader who trade in exotics with handsome profits. It should be about your knowledge and comfort level. Personally I prefer to stick with EUR/USD, USD/JPY, AUD/USD, USD/CAD, EUR/GBP.
1 Like
Thanks for appreciation with the terms.
1 Like
Agree. The majors are more popular due to their liquidity but some people study even the exotics quite painstakingly so they are able to earn profitably from them. Though I think there are not many such traders.
I think these are the best currencies to trade - USD/EUR, USD/GBP, USD/JPY
1 Like
You must go for majors. I like EUR/USD over any other pair. Give it a try. You will be better with it in comparison to other pairs.
There is nothing like the best currency to trade. All currency pairs work great in their time zones and as per the traderās strategies. If you are a beginner, I think you should start with the major currency pairs because they are more stable than the exotic ones.
For beginners which is the best currency to trade in live? Many suggest trading with EURUSD since it is volatile, is there any other volatile currency pair in forex?
When i started in the currency markets i was doing all of my trading in the EURUSD.
Iām a beginner in trading and would like to know if I can trade using all major currency to find a suitable one for me and Is it safe to trade with multiple currencies?
My personal choice of currency pair is EURUSD because they are volatile and widely traded; even beginners can trade using the EURUSD currency pair.
In my view the best asset for newbies is XAUUSD. It has high volatility respond perfectly to fundamental events, shifts in market sentiments and exhibit trend behaviour better than currencies (asa it repeats fluctuations of economic cycle). What makes difficult to trade Gold is very abrupt movements, price spikes which require very careful choice of position and stop loss.
I recommend trading with EURUSD currency pair if you are a beginner entering into forex for the first time because it is volatile in the market and stable.
It is best to trade on majors such as EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD, etc. You get good liquidity and spreads are usually cheaper. However, make sure that you skip trading just before big impact news events.