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Which currency pair should I trade?

Discussion in 'Beginners Bootcamp' started by Jeff Martinez, Oct 3, 2017.

  1. Jeff Martinez

    Jeff Martinez Recruit

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    When attempting to choose which currency combine to exchange, you have to assess the liquidity of the same. This can be accomplished by investigating the spreads, which is the contrast between the costs in a couple. The lower it is, the less demanding and more affordable it is to exchange the market. EUR/USD, USD/JPY, USD/GBP, USD/PHP. Forex trading is the future business and through this you can win more cash in the event that you can comprehend this well.
     
  2. dianajs

    dianajs Private, 1st Class

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    There are suitable currency pairs for every trader, depending on the type of trading approach they have. Some people scalp and prefer more volatile pairs with small spreads, other people keep long-term positions and are looking for pairs that are no prone to form long-term ranges. Newbies tend to stick to the most popular currency pairs because it is easier to find information and analyses about them.
     
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  3. bigdolly

    bigdolly Sergeant Major

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    Anybody trading USDRUB? If yes please described spreads, swaps especially near close and opening times.
    Thanks
     
  4. Beldavash

    Beldavash Private

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    USD/RUB is considered an "exotic" pair with minimal liquidity and not a lot of volatility. On teh one hand, that makes a more boring pair to trade on, but OTOH, depending on what you are looking for, boring can also be less risky, which is not a bad thing
     
  5. dianajs

    dianajs Private, 1st Class

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    I don't know whether I would call USD/RUB boring. The pair is very dependent on political whims and as such it can be quite risky to trade it. I, personally, avoid trading that pair.
     
  6. William Barnes

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    As forex involves the currency exchange trade it is important for the traders to select best suitable currency pairs among all the available pairs. Which pairs a trader should trade in a great matter of concern since each trader is unique and what one may like may be disliked by the others. So while selecting the best currency pairs a trader should analyze his financial conditions and the trading facilities available to him.

    For example: I prefer to work with major pairs since I think that USD is the most common currency in the world and it is easier to predict the value of USD and my broker is giving me low and fixed spread on major pairs. So; it is easier for me to work with major pairs.
     
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  7. dianajs

    dianajs Private, 1st Class

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    For the most part I prefer trading popular pairs as well. The more popular one pair is, the faster it moves, usually. And the faster it moves, the more signals one can notice on the charts.
     
  8. EURUSD

    EURUSD Sergeant Major

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    I am never trade on these pair, maybe its included as exotic pair, rarely trader choose these pair, familiar pair is GBPUSD,EURUSD, USDJPY, AUDUSD.USDCAD, these major pair which also spread is low, but I am sometime trading on gold, which on symbol is XAUUSD
     
  9. nahiyar

    nahiyar Private, 1st Class

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    I also like low spread currency pairs. They are easy to manage related risk with them. As much spread will be there on any pair profit will be late to start. USD/JPY and EUR/USD are my favorite currency pairs. I did much practice on them , also trade on other pairs too that are having good movement daily . i am than able to get some profit by hitting my targeted pips.
     
  10. dianajs

    dianajs Private, 1st Class

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    I like low spread pairs too, although I avoid EUR/USD because I think it is too prone to be range-bound most of the time. I do, however, trade USD/JPY often.
     

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