i would like to know what pair u forexperienced guys and gals think is a good pair to focus on, as it is widely known and probably best, since i am a newbie, to focus on 1 pair until u get a ‘feel’ for its movements.
i am from the uk. so would it be good/bad for me to even think about trading the gbp. what i mean is, me being a newbie, could i be swayed by sentiment-does anyone find this a factor at all???
Good question. Living in the U.S. its easy to take the public (read media) opinion on the direction or sentiment towards the dollar and have that play into your trading decisions, whether or not you mean it to. I would assume that it would be true in your case as well.
I would say to start with you should go with the pairs that are most popular on the forums then you can share ideas and ask where you went wrong or right. That means:
EURUSD
GBPUSD or
GBPJPY
The best pair to start with would be the EUR/USD, it’s a lot smoother than the USD/JPY and GBP/USD. Until you get to know yourself in live trading you should stay away from the more volatile pairs�
I get what you mean about the feeling; you�ll probably be more objective with other currencies.