Possibly, what do you say about EUR/USD? There is some volatility with it in the past few years and it can get some decent returns. I have been swing trading with this pair besides EUR/GBP with Fxpro and Fxview these days. Looking for more options to explore too.
GBPJPY and GBPUSD we be good for you, please only trade very volatile pairs if your strategy needs it like a breakout strategy
You do not think that the news, or economics facts about the country will influence directly the price os forex market? A lot of day traders said that you use only the graphics information to determine your negotiation. I´m trying only with graphics, i am not confidence about using the news to determine the price of the currency,
What up Dude, how is going ? You have some good news about your trading ?
Look for pairs with volatility.
A new tool they just updated here some really cool charts
I think EURUSD moves the most predictably so probably that pair.
GBPUSD, USDCAD and other major pairs are good options to strat with
Absolutely. Every newbie must start with it and master it before move to the others.
For beginners, the best pair I would suggest is the EURUSD currency pair since it’s easy to predict, and due to its high volatility, beginners can make consistent profit with a good strategy and trading conditions.
EURUSD is a good start, like all the other major pairs. They wouldn’t be popular if they would be very complex. Then again, they are also quite the volatile ones. That’s why a good idea to start from is a demo account. You’ll understand more about the movement of a particular pair. Then again, maybe you’ll find exotic pairs more interesting, it really depends. Like it was said before, the start should be for a long run, until you understand the way the pairs move around.
Each pair has its challenges. Don’t let anyone tell you that a certain pair is predictable, because that is simply untrue.
Some pairs are more volatile and require a wider SL. Some have wider spreads and require much more margin (like exotics), but you can check with your broker on this because it varies depending on your broker and your country.
IMO it’s a personal preference and not a question you’re going to really get a clear answer on.
I’ve been trading 3 years and I still couldn’t tell you what my favorite pair is to trade.
Hi @shengen4free,
I’ve never limited myself, except for exotics. I used to trade them but the spreads are too high and they require too much margin on your account for the most part.
If you have a strategy that uses longer time-frames like daily or 4-hour, then you can keep a wider SL and not have to worry about which pairs to trade or getting taken out by volatility.
You also want to limit your trades to just 3 or 4 pairs to avoid too much correlation. For example if you trade AUDUSD and NZDUSD you are overexposing yourself because these 2 pairs typically move in tandem. Or, if you’re trading AUDUSD and USDCAD at the same time and big news hits the US, then you could get whipsawed out of both positions.
Huh, never thought about tandem pairs. Thanks for the tip!
The best pair for beginners is mostly the EURUSD, and many traders also believe that the EURUSD is easy to predict and keep track of and the other reason is because of its high volatility.
It is better if we go with common pairs such as EURUSD. GBPUSD, EURJPY, USDJPY, AUDUSD, USDCHF etc. They usually have more liquidity and brokers charge less spread to trade on them.
the best is to trade on a Major like EURUSD, USDJPY etc as there is more liquidity in such pairs and less volatility which makes it little easier for the new traders as compare to other pairs.
The best currency pair to trade for beginners is EURUSD because it is volatile and straightforward to predict when compared to other pairs.
From my own experience, I can say that everything here does not depend on the pair, but more on the trader himself. Naturally, the more attentive a trader is, the greater the likelihood of success.
I suggest trading with pairs that are predictable with suitable strategy and money management skills.
And major pairs like EURUSD or GBPUSD are mostly suitable for it; mostly, the EURUSD is a good choice because of its volatility.