AUDUSD would be a good one i think, as you will be much aware about the news revolving around.
i suggest to start with majors. the spreads are tight and i believe thats good for begginer.
Iâd suggest you to start with any major forex pairs, they are more stable and also any news related to any upcoming event is easily available for most forex pairs.
It is always better to start trading with major currencies and one with the USD. USD is surely a safe haven and it is rear to go wrong with it. Good Luck !
Oh no nothing of that sorts. Whether youâre from Australia or not, the conversion issue shouldnât be there if youâre trading with a reliable and licensed broker. As far as the currency pairs are concerned, you should be going for majors and one of them being EUR/USD.
I canât name any currency pair without knowing your personality and financial goals.
Choose any USD currency pairs.
Major currency pairs are the most popular kinds of currency pairs to trade with. It is easier to predict the trand of major currency pairs like EUR/USD, AUD/USD etc.
You should start with stable currency pairs like GBP/USD, EUR/USD. Having two of the largest economies back this currency pair usually ensures that there will be no huge changes in a single dayUse the currency that is most liquid on your exchange and that has best trading fees with your broker. That simple!
Best trying your local currency if possible?
I think when a trader joins a new trade he should be trading with a major currency pair.
This thread has been running for 6 months and most of the replies answer the wrong question.
It depends on your account base currency. If your account base currency is USD and even if you deposit in AUD then it get get converted to your base currency.
I guess youâd better look at the various strategies or elaborate your own before pick a currency pair. Of course, it will be better for you to start trading with the most stable currencies which have minimum risks of losing money. Such currencies as usd, eur, jpy might be considered as stable, so you can pick eur/usd, usd/eur/ usd/jpy and stuff like that. Nevertheless you have to create a trading strategy in order to avoid huge losses on you first steps of trading. Itâs obvious that you should firstly trade on demo in order to watch for the rateâs movement of these pairs. Then you can start to trade on a real account complying with your strategy, money and risk management.
When I started trading as a beginner, I used the EURUSD currency pair since many traders advised using them because of their high volatility and can be predictable with a good broker & strategy.
I think it doesnât really matter which currency will you use at your early stages. Every currency pair can be analyzed and the vast majority of strategies suits for currency pairs. Everything you need to do except choosing the currency pair are creating of your personal strategy which can be the foundation of your trading activity, comply with money and risk managements, good mood and positive attitude. In my opinion these are the fundamental things which every trader has to comply with and everything will be ok. Remember that there are no bad assets, there are bad traders. They are the reason of their mistakes.
Professional traders recommend to focus on fundamental things such as predictability, volatility and other crucial aspects when you are choosing a currency pair for trading. Major currency pairs or top pairs usually include US dollar and the currency of one other of the most significant and economically developed countries. Thatâs because these currencies represent the most stable and liquid economics of the world. For example, you can choose usd/eur, usd/jpy and so on. These major pairs account for more than 70% of the total turnover of the forex market. What is more important is that these pairs are popular not only within beginners, theyâre suitable for traders of any level.
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as a my opinioun i think eurusd is the best pair for newbie to trade bcz of their low spread.
You need to trade the safe currency pairs first in order to learn Forex trading. Later you could learn the favorable timings for the other pairs and learn to trade them.