Favorite and first pairs

Hi there traders, i have come to you with question what is your favorite pair that you trade or what was your first pair to do so?

I just love to trade XAUUSD and never hesitate to trade in this pair even though it is more volatile in nature compared to others.

1 Like

My all-time favorite pair to trade has always been EUR/USD. It’s like an old friend, predictable yet full of surprises. But my first foray into trading was with the GBP/JPY pair. It was a wild ride, but it taught me the importance of patience and analysis in trading.

1 Like

For years, it has been USDJPY for me. :sweat_smile: Although I’m really trying to branch out and explore more currencies! :smiley: (Still with JPY tho lol)

1 Like

GOLD all the way, feels like buying on it means winning :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

From reading your posts here, @ria_rose (and I’ve read hundreds of them), it seems to me that the two biggest and best things you could do to improve your results are to stop trading JPY pairs and to stop looking at moving average crossovers. And especially to stop looking at moving average crossovers as potential trade entries!

You’re understandably very popular here and your posts are always a real pleasure to read. :smiley:

Loads of people, including me, want to try to help you.

Not surprisingly in a beginners’ forum most of them have never been profitable at all and don’t really know how to help themselves, let alone anyone else, but unfortunately you seem to treat everyone almost equally (including all the bots!!) and not to distinguish between the very few experts here and the very many people who know no more than you do, and that really does make it hard to help you. :confused: :unamused:

2 Likes

Same here, I swear to god :laughing: :laughing: :laughing:

Ooh is this because of the spread / volatility? Also what’s wrong with MA crossovers?

2 Likes

Probably partly both.

Retail forex traders do FAR, FAR worse, collectively, with JPY pairs than with other majors. The differences are huge.

As ENTRY signals, they’re useless. They’re fine for assessing the trend! In other words they’re like most things: whether they “work” depends on what you use them for, :slight_smile:

2 Likes

Moving average crossovers are the bread and butter of my strategy :rofl:

@Pipsteroid @ponponwei @ria_rose

This chart is DAX today Friday 15th Dec 8EMA/20SMA crossover on 5min chart, with Keltner for added confirmation.
Long entry at 7.10gmt - 16780 exit 10.40gmt 16860 = +80pts
Short entry at 10.40gmt - 16860 exit 14.45gmt 16740 = +120pts Total 200pts

Now, I’m not saying I did this but my neighbour’s dog could have got 20pts long and 20pts short.
This type of crossover is far from atypical on the indices.
Don’t tell me crossovers don’t work @Pipsteroid :upside_down_face: :rofl:

2 Likes

Super appreciate this Pipsteroid! :blush: I’m super super grateful to you and the other members for being very patient with me and my shortcomings. :pray: I’ve been so attached to JPY cause it used to be one of my most winnable currencies, but maybe this is something I can try out in the coming year! :blush: I’ll try to avoid JPY in 2024, and let’s see how that works out. :pray:

Exactly why no one thing applies to everyone!

2 Likes

Interesting. I could see that though. Like news wise I feel like JPY is always the most vulnerable to huge spikes.

1 Like

My go to currencies has always been EURUSD and GBPUSD.

@Moritztrader

Loving your description of EUR/USD:

EUR/USD and GBP/JPY are my favourite pairs too. In fact, they are the only two pairs I intend to trade during 2024.

Good luck for the year ahead!

CHF is my favorite; it is very stable and trustworthy, not to mention the Swiss banks and stable economy that back it up.