Me too. EURUSD is the best.
GBPUSD. It’s fast like GBPJPY with lower spreads.
I am a bit of a contrarian. So it would be CHFJPY for me. I like to dodge news. Get away from them. EURCAD is also tempting. My most profitable pair the last 6 months. AUDUSD is another good pair.
That’s an answer you don’t see often. I haven’t really checked out this pair, but do you have any tips for those who wanna start trading it?
As of now. Not so much. I trade it on the 4H and I am looking to get into trends. It is reasonably predictable, but of course you will have your fair share of losses here too. I have backtest with 208 trades. I found it interesting that if I removed trades taken 19.00 CET it increased its winrate 5 per cent.
Oooh. That’s a lot of trades! Which pairs do you usually trade for your backtesting? Or is it more like, you’re trying to see how it works for different pairs?
I did 11 pairs backtest on an Aroon strategy. A lot of the Euro pairs. USDCAD, USDJPY, GBPUSD, GBPJPY, and AUDUSD plus NZDUSD. As for my regular tests I have traded 30 pairs. It was the channel nononsenseforex that said you should avoid EURUSD, and that has been confirmed for me the last months. I had 17 forward tests the last months and 13 losses. He said we should look into AUDNZD. The theory was that it has long predictable moves. Not so choppy. The pair has been average to me. So now I am looking into the CHF pairs to see if there is a bigger success rate there than other pairs. Particularly I want to avoid news spikes in opposite direction of my trade. CHFJPY also reacts to NFP I found out. Then again trading the news after the news has come out has not been so difficult lately.
If I start trading smaller time frames then of course I will choose the most common ones EURUSD, USDJPY and GBPUSD with low spreads.
Nas100. Hands down. Although I have been trading it exclusively for over 2 years so I’m a little biased. But indexes over forex all day long.
If you have the right trading system built around your strategy, its just a matter of mathematical probabilities from there. I wrote an entire book about this actually, its fairly easy to setup.
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Investing in a single asset carries concentration risk. Diversification is often recommended to mitigate risks and optimize returns. It’s essential to conduct thorough research, consider your risk tolerance, and consult with financial professionals before making any investment decisions.
I will go with USDJPY; I like it more than most people I know in my life, and at the same time, it is my bosom buddy too!
Yeah. Haha. Which is why the question can be tricky and will really make you think.
Not sure what to say about that but you must like it very much!
I scrolled way too far to see this. I absolutely love trading on XAU/USD.
Keeping in mind I’m more of a ‘fundamental’ trader, it works perfectly with my style.
Would be interesting to see how you trade this pair!
Gold is awesome for forex trading because it’s a safe-haven asset that holds value during uncertain times, plus it adds diversification to your portfolio. And hey, there are always chances to make some sweet profits with gold’s price movements.
Yea, I was going to ask why limit yourself. Unless you’re trying to focus from a learning perspective. But I think that’s limiting.
I don’t want to name names here, but I really had to pick and stick to one, what I’d do is a distribution of historical returns analysis, and an average true range analysis from open to close and high to low, then I would try to pinpoint the one who has the most volatility. Doesn’t matter up or down. I’d look for constant volatility.
GBPUSD, it’s what professional traders use
Is it also what you trade at the moment?
For daytrading it’s one of the primary pairs, but there’s also medium and long term trading, allows you to monitor more.