Hi
Is there a good pair to trade for the complete novice or does it not matter which ones you pick ???
At the moment i scan over 9 diffent pairs and i think i am sppearding myself a bit thin
Jasperuk
At some point you will realize that they are just charts, but its best to start with the majors/usd pairs preferbly eurusd.
EUR/USD is generally what many people start on mainly because of the trading volumes and the attractive lower spread in comparison to other pairs.
I started trading a while back with the EUR/USD and have only now just began(begun?) to look at other pairs in the systems I trade.
depends on your trading style if your just looking for daily signals 9 charts would be ok.
if you like to place intraday trades than one pair would suffice, 4hour charts maybe 3 or 4.
best getting to grips with one pair depends on your personality what your going to like to trade Personally i find euro boring and i would prefer gbp/usd and then i would say aud/usd is a good learning pair but they all have different traits. My favorite is gbp/jpy cause i like to see it move.
Experience will bring answers to all your questions
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I think in general, you should stick with the majors, mostly because those pairs have a lot of liquidity. It gets pretty boring when you trade those weird pairs… not to mention that they have much wider spreads.
As the others said though, each pair has its own characteristics. Maybe you should concentrate on a a couple first to get a better feel of how that pair moves.
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my friend who trades forex pretty successfully advised me to trade EUD/USD, GPD/USD, USD/JPY, and USD/CAD.
so far i’m doing pretty well in my demo act on those pairs
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