How did you choose the currency pair to trade?

Hello everyone! I’m new to the forums and the whole forex scene in general so here goes my first question :slight_smile:

How did you choose to trade the given currency pair or pairs that you trade? As of now it looks to me that EUR/USD is a good choice due to the volatility and low spreads, but many people choose to go for GBP/USD in stead (which I don’t understand cuz it’s very much the same thing, but with higher spreads?), what’s the idea behind this and how did you decide which is the best for you?

I think it is better to start with one pair, and to increase the number of pairs you trade when you get more experienced. another thing is that monitoring a pair and trading a pair is not the same thing.

And last GU is not another EU with a bigger spread ; the pairs may be correlated, but sometimes they will react differently.

In forex there are many currency to trade. It is advisable to choose a currency pair that is very liquid and are traded widely. And also as a new trader it is better to stay away from currency that has wide spread because they tend to be more volatile.

I chose the currency pair to trade based on my strategy and trading the EURUSD and GBPUSD is not the same thing. Sounds like you need to spend a lot more time on education about forex before you should take actual trades.