As a beginner the pair is not important…
The only important thing is the Risk you use.
All pairs have a diferent behaviour, so you need to spend a lot of time with just one, and try to master It.
Banks and institutions have diferent traders for each currency, so their behaviour may look similar but it’s not.
Master one pair.
For me the best is GJ. You can Make a living trading It, as It moves nicely EVERY day.
Remember… RISK RISK RISK
The EUR/USD is not only the most liquid currency pair but also the most consistent. Traders of all experience levels find it to be the greatest option. Due to high liquidity and low spreads, this currency combination is extremely popular.
Starting with a major pair is the best practice for a beginner. Also try to focus on just 1 pair first and choose more pairs later on. I started trading with EUR/USD but the pair might not be ideal for a beginner at the moment after the parity situation. I would suggest USD/JPY as of now since it is very bullish right now.
Whilst on demo why not try them all ,bar exoctic or obscure pair s (spread far too big)have go have a go at commodities it’s only.demo.nothing to lose .
New traders should avoid much volatile type trading pairs like Gold, GBPJPY etc! On the other hand, I believe EURUSD can be a solid choice!
Always start with one major pair and focus on that only. I have been trading for quite some time but I still stick to major pairs most of the time.
I categorically reject this entirely. Why would you send a beginner out there with a small US$100.00 live account to trade gold, oil, indices or some exotic pair with a gigantic spread as against USD/JPY which has a small spread and requires far less money to place a trade and still have some left to continue if that first trade went against them?
Please lift the level of reasoning.
It is also better to trade other major pairs like GBPUSD to have an alternate currency pair for forex experience and knowledge.
EUR/USD is the best pair, though any major pair would work. New traders should shortlist a few pairs and trade with them to find out which would work for them.
According to my experience, the best currency pair for beginners to trade in the forex market is EUR/USD. It is the best option for both beginners and experienced traders. Because of the tight spreads and liquidity, this is one of the most traded currency pairs.
Any major pair would be fine. Just make sure that your strategy works well with that pair and if not modify it accordingly. Just sticking to one pair is ideal for a beginner. My first pair was EUR/USD and most beginners start with it, since it is the most traded currency pair in the forex market.
First… change your broker…
Second… everything you mentioned is not a pair neither it’s Forex.
Si Insist… The (Forex) pair is NOT important. Go trade GJ if you want. Who trades exotics anyway?
EURUSD for new traders, who are venturing into trading.
How about WTI??
Thanks for the tips. I will follow your suggestions. I will stick to the major pairs.
Thanks much
Scott
Is it volatility or liquidity that is needed to have a successful trade. I will follow your suggestions Thank you very much,
Scott
I’d say the USD/JPY is one of the best pairs for a beginner to start with. Although the exchange rate is high, the currency pair tends to follow historical chart patterns over time. USD/JPY is also one of the best currency pairs for scalping, as it is highly liquid, and for breakout strategy. Plus, the interest rates set by the BOJ and the Fed, also gives a plus point and makes it an interesting currency to trade.
It’s GOLD; but honestly volatile trading pairs (as like GOLD) are not a good option for the Forex newbies! I think, EURUSD can be a good choice!