What do you think are the best pairs to trade? What are your favorite currencies or pairs to trade?
Stick to the majors is advice given to most new traders. I think that’s pretty sound. Pick one and watch it for a couple weeks or months while you learn and read the School.
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I also recommend the majors if you’re also just starting out. 
Although I’d try to stay away from GBP cause I think moves can be unpredictable and very sudden. Haha. That’s just what I think though. 
- EUR/USD (Euro – US Dollar)
- USD/JPY (US dollar – Japanese Yen)
- GBP/USD (British Pound – US Dollar)
- AUD/USD (Australian Dollar – US Dollar)
- USD/CHF (US Dollar – Swiss Franc)
- USD/CAD (US Dollar – Canadian Dollar)
I don’t know the best pair for you since, I have no idea on your trading background & portfolio; but for me EURUSD, GBPUSD & GBPJPY.
Every pair brings trade opportunities; so there is nothing like bad trading pair but the point is; you need to understand the nature before using on your live account.
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My preferred choice is liquid pairs such as EURUSD, GBPUSD, USDJPY because I use HF EA to make trades so tight spreads and fast execution are essential bricks of my trading foundation. Some people hate volatility but I consider it friend, though very risky, so treat it carefully and it rewards me well.
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I found this interesting article on volatility of currency pairs in 2019. Obviously liquidity comes up. Check it out. Check out where EURUSD ended up on the list.
What are currency pairs in the forex and when the time is right for trading?
Volatility is a temporary factor, it spikes and then reverts back. Usually I stay away from times with high volatility to keep trading risks low.
I would recommend you to trade the currencies which have good strength and which have international recognition. Euro, US dollar, Japanese Yen, Canadian Dollar, and all other big currencies paired with other currencies are good to trade on forex market. Thanks
I am also comfortable with volatile trading pair’ although I trade manually; no use trading EA.
This maybe against common advice but I have had the most success staying away from the USD.
Pairs like NZD/CAD, AUD/CHF or CAD/JPY are great. Crosses of the majors. Still want a good low spread.
I trade support and resistance and have found it to be equally as effective on any major pairs or major cross pairs. Price is either going to respect the level or break through it. I just don’t really see the point in trying to learn and become familiar with the way a particular pair “moves.” Not saying there isn’t one but for my strategy it hasn’t been a factor.
You can check here what is trading sessoin pip range on major pairs.
For starters, major currencies are most recommended since they are more stable and its easy to understand their movements. However, with the current issues of Brexit, I’d advise someone to stay away from GBP for now. Avoid it like plague unless you are tired of keeping your money
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There should be different answers to this question depending on whether you are an intra-day trader who always ends the day flat, or a long-term trader who rides trending winners.
For long-term trades, pure volatility alone doesn’t really answer the question and its hard to compare the volatilities of two different currency pairs, as each has a different total of “points” or “pips”. So a highly volatile figure of 100 points per day for AAA/BBB might be dull and boring activity for CCC/DDD.
When I’m getting into a long-term trend, I’m looking for consistency of the trend, not highest or lowest volatility day to day. I also need to be able to quickly compare the 28 pairs with each other in a meaningful way to find the best opportunities and eliminate the most risky. For this I look at weekly bars and the 50EMA: to today, count how many consecutive bars in the last 3 months were unbroken by the 50, how many consecutive bars closed above the 50, and how many in total were unbreached by the 50. A high total in each box is good for a buy. Right now only AUD/NZD scores really well.
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Manual trading is good but you lose in reaction, sometimes volatility beats you because you can’t respond fast, that’s why I advice you to code everything which can be substituted with automated action.
A perfect list; but new traders need to go with one by one! They shouldn’t start with all of three pairs initially.
Maybe; it’s your opinion! I respect! But I have no objection on manual trading. Thanks.
What’s your reasoning here for staying away from USD? Just preference?
Nice lesson here for us noobs.
I will try incorporating some of this in my trade research at the start of the week.