Which Forex Pairs To Trade?

Beginner Questions
1

Hi everyone,

So I’m new in this community and would like to ask my first question:
Which forex pairs do you guys trade?

I trade the 10 major forex pairs,
(AUD/USD, EUR/USD, EUR/GBP, EUR/CHF,EUR/JPY, GBP/USD, NZD/USD, USD/CHF, USD/JPY. USD/CAD)
but also GBP/JPY.

I stay away from exotic currencies like NOK or ZAR…

I would like to trade more pairs though, so would it be wise to als start trading in other pairs like:
AUD/JPY
EUR/AUD
GBP/CHF
XAU/ USD
XAG/USD

Thanks in advance for your reactions!

2

I trade pretty much every pair, except the crappy ones.

But I do my analysis on the weekend to see what currencies are the strongest and what ones are the weakest, then take it from there.

I trade in the present, and what is happening now.

Unlike what you will read here, I have the simplest strategy you could think of, go in big and go in hard - although I don’t stick around for 300+ pips per trade.

I don’t, and have never done any of this “risk 1% of your account” stuff, and been trading a very long time.

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3

from all major which pair do you use particularly when scalping ?

4

Whichever ones are looking good at that moment in time.

If you stick to a few pairs, you could make money, but you are leaving a lot of money on the table.

Trade in the present.

5

EUR/USD is my favourite pair. And i always wait for NFP news for the biggest peak.

6

A trader just practice on one pair not does good he should try other pairs. He can not grip on all trading pairs however few pairs are best to have practice on them. If he wants success he should monitor time to time 3 or 5 pairs. Certainly he will got a chance to do good trading in anyone of them.

7

I always favor to trade major currency pairs as forex is a challenging field. And what I think is: I can better craft my trading strategies and planning with relatively stable currency pairs.

8

I don’t think, Gold/Silver is the pair of newbie’s! You should go with any 2 pairs (3 is the maximum number).

9

I am fairly new to Forex so I stick with EUR/USD. It seems to more slow and is pretty easy to see stuff coming. I also watch GBP/USD and USD/JPY. Sometimes I jump into GBP/USD but that is fairly fast moving.

10

If you love doing scalping, it’s more appropriate to choose the lowest pair, otherwise good result will not come in spite of having knowledge and experience.

11

i have seen so many brokers don’t allow scalping and hedging in their platform , so scalpers always fall a great trouble when choosing a broker.

12

You’re right, I believe as a newbie you should focus on no more than 3 pairs at a time. If you can master one pair, then that’s a great start

1 Like
13

Thanks mate! A slow start (I mean not too fast) is very important. But usually a number of newbie’s trying to learn everything just over a night.