What currency pair are you trading?
hope to get some trading ideas about currency pairs from you.
This is probably the most difficult question any trader could answer, except for there’s no one cap that fits all. It all depends on what type of trader you are, what suits you and your lifestyle and whether you want to focus on one or two major pairs, or the whole FX 28 pairs, and/or the exotic pairs as well.
What I found out using my Ichimoku strategy was my successful pairs were consistent with one way price trend per intraday movement, and unsuccesful pairs were those with high volume, and full of retracements during a day - as is the GBP/USD which I found impossible to become profitable trading it.
Others who focus on this pair trade the waves within a large range and can be quite successful. That is not my style, though.
My profitable trend trades over one year were:
I could include EUR/CHF which is a very slow but steady and consistent one way intraday pair.
However, in our current Covid climate that’s affecting global governments, businesses, and people, market sentiment is topsy turvey and almost impossible to guage reaction to fundamental news, apart from people like Elon Musk who can affect the rise and fall price movements of Bitcoin - which would ‘normally’ be absurd.
Interesting times lay ahead.
today 17 08 2021 trade any pair except these
EURUSD GOLD AUDUSD AUDNZD EURAUD AUDCAD NZDUSD AUDCHF
You may want to check out these topics below regarding currency pairs to trade for beginners.
i am currently trading on AUDUSD and watching the up’s and down’s.
This one’s interesting! Since I do a lot of NZDCAD, my pair isn’t really here. But if you don’t mind, why do you advise against these? Initially I would think to trade Major currency pairs, but a few of them are here.
I am currently trading NZDCAD and EURJPY. Although I started with the majors, I started exploring other pairs and it seems like I have been most successful with these pairs so I stuck with them. Which pairs have you tried on demo so far?
see my previous post to understand my dear
actually you can trade them but if price go higher than yesterday high or lower than yesterday low
I trade 43 different currencies on 4HR charts. Like @steve369 said, just depends on what type of trader and your system.
thank you very much
GBP/USD for Forex day trade…
The best pair to trade is the pair whose price behaviour recently most closely matches what your strategy requires. It would be very rare to find a strategy that can only be used on one pair, so the choice of strategy is the real starting point.
I generally take trend-following positions in pairs with well-established stable trends. You can gauge the strength of a trend from not just that pair’s chart but also taking into account what the other pairs featuring those two currencies are doing and whether the overall market of 28 pairs is in a trending phase. This of course means I can’t have a favourite pair.
I can often change pairs for work depending on the market situation.
I started with these pairs too. Definitely good to get to know them well before venturing into crosses