Currency Pairs Characteristics

Beginner Questions
1

EURUSD – is good for lazy intraday trading. This pair gives clear signals, but sometimes volatility is low. So in calm day, catching 30-50 pips is good.

GBPUSD – have good intraday volatility, and this pair like swinging. If you want to participate in the market whole day and catching more profit, this pair will give it. GBP will give you more time to worry about orders than EUR, but it can give more profit.

USDJPY and USDCAD – are almost same as EUR and GBP, it’s possible to trade it within a day and get profit, but I usually use these pairs for long-term trading, it gives very good signals on highest time-frames.

GBPJPY and EURJPY – are more aggressive and these pairs can give profit faster than majors. it’s good on scalping and volatility is higher.

EURGBP – good who like trading in corridors. It’s quite lazy currency pair for intraday trading, but 20-30 pips, trading in corridor, it gives.

Most of my trades I make on EURUSD, sometimes I trade GBPUSD, if I have time for monitoring 2 pairs. USDJPY and USDCAD for long-term trading, holding orders for weeks or months.

Actually, all pairs are same: chart is same, movement is same, signals are same. For example, today pair stay in range, tomorrow it will give trend; today it gives 30 pips, tomorrow 130 pips… and it happens with any pair. The difference is – name of the pair and price.

So choose any pair for trading, sit on it every day, trade it, and this pair will become your best friend for earning money.

Good luck!

4 Likes
2

Which one is your best friend? :wink: Mine is EUR/USD.

1 Like
3

Mine is GBPUSD :man_technologist:

1 Like
4

As I have a small capital and want to take low risk in trading, I trade EUSUSD always and hardly go beyond this trading pair.

1 Like
5

Great! What do you think about it right now? :cow: or :bear: ? :joy: :joy: :joy:

6

Besides GBPUSD, I also trade EURUSD because the pair moves slow and I can make decision if any wrong happens.

7

Nice summary @TradeWithLawson.

For new traders, some things have to be recognised about forex pairs which might be counter-intuitive -

  • they are not all equally good for any specific strategy: in fact, some good strategies will consistently lose money on some pairs
  • 100 pips on GBP/USD is hugely different to 100 pips on AUD/USD or USD/JPY or anything else
  • don’t hold EUR trades plus CHF trades - they’re the same thing: likewise AUD and NZD
8

Wow. First I thought it is one of those ChatGpt ones.
It is really great! Good Job.

You described that very well :grinning:

That is a big point too. If everyone is trading a pair it doesn’t mean that it can suit your trading style as well.

Could you tell me more about this one dear tommor? For example USD/CHF , do you use it for scalping?

9

I never scalp.

The two currencies EUR and CHF are so closely tied together by their respective economies that they can almost never diverge from each other. So you will see that most of the time the USD/CHF chart is just the EUR/USD chart upside down.

1 Like
10

i love eur/usd that is something good and makes a lot of profit for me
it also has low spread that help me to spend less money on those brokers
the real pain is when they change the spread a kot and do not let you make profits with high spread
i think the whole float spread is a something really terrible
i also have problem with calculating them … also i scare from the fixed spread one and i think they are scam
thank you for your good list