In most of the cases beginners are advised to start trading with major pairs and the most popular pair for the beginners is definetely EURUSD.
Mojors are the best pairs for the newbies for different reasons. FIrst of all, they are volatile enough, so that you can earn the money there and there is always some kind of moves which are the great sources of practice. Secondly, they obtain high liquidity which prevents the deals from suffering from slippages and requotes. Such things do happen even in majors from time to time, but they are quite common for the exotic pairs. I should point out the fact that I think that majors are the best pairs for the newbies because there are lots of different learning materials which are devoted to them. There are so many trading strategies which work pretty well with EURUSD, but they are really hard to implement on minors or exotic pairs.
However, later on you can also learn the exotic pairs. More than that, I think that knowledge and skills of trading exotic pairs may broaden a trader’s horizons very much and bring him more profits from trading. However, you should think about it later, after you finish learning to trade majors and make this trading stable and consistent.
Interesting op. The ability to mix and match different currencies is such a deep advantage. There is so much to unwrap with this. The thing is its more of a complimentary skill, increasing a system’s accuracy. Sometimes I assign correlation projects to my new students, challenging them to contribute to our cutting edge work while we share a core working system with them. How comprehensively can you break down the differences between the different markets, create a visual matrix making it easy for us to see, inspire us to pursue tailored models. Im a bit vague on here but even with what ive shared so far in all my posts, it is a nudge onto the correct path. I can stop posting right now and ive already done enough to boost the few of you destined to succeed. You gotta start thinking slower about things and dig for depth into even the most basic things. Conceptual fog is unacceptable and addressed immediately. Think of any other elite sport or profession, you aint pro yet son. Stay in the gym, pull the trigger often, max out, explore the limits of whats possible
High-level system types
- Core. works on all pairs and markets
- Pair based. the most consistent in a particular pair
- Pattern based. tailored for a certain environment
None of them are very volatile u less news interferes Eurusd is the highest traded pair
Yes it has more money than any other pair traded
When I was a newbie its volatility was definitely a bit too much for me, but to each their own.
I would suggest EUR/USD and GBP/USD for beginners. EUR/USD because it has the highest liquidity and is supported by a sound economic system. And GBP/USD because it has an upright and strong movement and higher volatility.
Any major pairs would work and as many mentioned above EURUSD, i would also suggest JPYUSD as it also one of the most traded pair on daily trading so very high liquidity.
Because it is not complicated as other major pairs, its volatility is lower and can be predicted easily by using simple strategies.
Every pair requires a different strategy to work. However, you can start trading with EUR/USD initially. It’s a very liquid and less volatile pair.
Every trader has his own basic requirement for trading and the choice for currency pairs will also depend on it. It is always good to begin with major pairs like EUR/USD as it is easier to predict the movement of major currency pairs.
Focus on strategy and not pair
Forex Trading is highly volatile so for a beginner EUR USD and GBP USD are the best currency pairs as they have the highest liquidity and are supported by a sound economic system.
I’ll say, EURUSD is the best pair to go for beginners to trade.
I like to trade with EUR/USD, and all the new traders should start with this because it is easy to trade. You can pick any major pair. They are generally less volatile.
Inarguably it’s eur/usd. The pair is more predictable than others, and highly liquid too. So you’ll find good trading opportunities.
Assuming that newbies still have no well-defined edge for some particular pair, the best what they can do with little to no skill is focus on transaction costs. A way to reduce them is to pick currency pairs that are offered with small or zero spread like EURUSD, GBPUSD and a couple of other majors. For example I trade with zero spread at Hotforex, however there is no way to avoid commission, but still after many trades you will notice the difference as lower transaction costs means you can be profitable with lower win ratio.
Forex beginners are always eager to learn forex trading online as an opportunity to make money and they always wonder how to get started. It’s important to have a deep understanding of how the market works and best practices for forex trading.
For beginners, it’s always advised to trade on major and common pairs. They are easier to follow, analyze and trade.
Most of the top currency pair traded is always comes from a country or continent which holds a strong economic status such as the European continent, United States, Japan, United Kingdom, Switzerland, Australia, New Zealand, and Canada.
The 7 major pairs for beginners to trade are EUR-USD, GBP-USD, AUD-USD, NZD-USD, USD-CAD, USD-CHF, and USD-JPY. These major pairs are often referred by their nicknames such as Euro for EUR-USD, Cable for GBP-USD, Aussie for AUD-USD, Kiwi for NZD-USD, Loonie for USD-CAD, Swissy for USD-CHF, and Yen for USD-JPY.
[Removed for Forums Policy violation]