for trading I personally like to use a pair of eurusd, the most dangerous and unpredictable in my opinion are jpy and chf, but perhaps this is my subjective opinion
It is advisable for beginners to focus on EUR/USD. It has the highest trading volume, therefore the highest liquidity. Another positive point is that it has the lowest spread of all pairs and less chances of manipulations by huge players in the market. EUR/USD moves less than 1% on most of the days, making its movement pretty predictable. Also there is a lot of information and analysis available on this currency on the internet.
I don’t limit my self to one pair but trade what ever pair meets the criteria of my strategy. Remember that it the job of the Big boys/big banks etc to put your money into their pocket. They see where all the trades are being placed and manipulate the market accordingly to create liquidity for their benefit. I rarely trade Euro/USD because its the most manipulated pair, it can go anywhere at any time. Personally I have made more $$$ trading AUD/NZD then any other pair, it’s not sexy but plods along like plow horse putting pips in my pocket. EURO/CHF and GBP/CHF can also do well. Their economy’s are much the same like AUD/NZD and you can get slow long runs. If you think you are going to get rich quick doing this save your money and buy lotto tickets. Remember, If you do the same as everyone else does you’ll get the same as everyone else gets, NOTHING.
You can trading with any major currency pair, In particular you can start trading with EURUSD. It will help you learn more about the Forex trading.
Gold looks big but its very basic and solid for everyone. if beginners stick to gold they dont get diverted to the bank weapons.
I think XAUUSD. It has one major factor which produces movement in it - risk-aversion. When it’s high like in current situation Gold quite reluctantly gives up gains and tends to rise a lot
EUR-USD because it has the highest daily transaction volume therefore the highest liquidity. It also moves about only 1% on most days.
you can start trading with EURUSD to understand the chart patters and market movement as it is the major pair
Actually it moves much less than this. The ATR14 is only about 0.5%: the average price movement during the London and New York sessions is obviously even less.
(gold on the other hand is massively more volatile, about 3 times more, using this measure)
it would be the best if you start trading with any of the forex major pair like EURUSD,GBPUSD,USDJPY,AUDUSD
You’re right, thanks for pointing that out.
I trade EUR/USD and GBP/USD.
I prefer trading index pairs like FTSE100 than the currency pairs as it is easier to read and understand one country’s economy as a whole rather than to study the cascading effects of the various currencies on each other. Keeping an eye on current events helps me better predict the market sentiment.
I think the best pail is USD/EUR
I think the best choise are major pairs! I have started EURUSD. They have more liquidity and it is easier for beginners to understand and analyse
any major currency pair you can pick for trading.
This kitty suggests tradin’ one of the MAJORS for starters. Purrhaps EUR/USD coz it’s “cheap” on both margin requirements and spreads plus a big chunk of market action is involved on these 2 currencies as well so you’reon one of the best liquidity pools.
I don’t know who or why it is recommended for beginners to just trade 1 pair but I would suggest studying and learning to trade the 7 USD Major Pairs. Reason is the USD is the most traded currency. You would want to see clear USD strength or weakness. Then go in that direction choosing the best looking pair. This week the best could be AUSUSD the next week could be USDCHF and so on. So limiting your self to just one pair doesn’t make sense to me.
I thing EUR/USD will be the best option at the beginning. But you have to careful while trading. All the best .
Every site has its positive and negative things.