Hi, Im from australia and im thinking if it is advisable to use AUD for the currency to prevent foreign conversion fees from bank. Is it advisable or should we stick to USD currency in trading. Thank you
Look at the majors for tight spreads and they kind of behave themselves in the sense of seeing repeated patterns
Keep your base currency as USD. This will make it easier when position sizing and managing risk against other major pairs. Transfer fees are the cost of doing business just keep it to a minimum.
You can use USD as your base currency. It has lesser risk against other pairs.
It’s better to start trading with major currency pairs. It’s easy to track their trend.
Hi Mahkeez! Kindly go through the links below.
I have started with EUR/USD/GPB, they were most familiar