Which currency pair should I trade?

dianajs

Private, 1st Class
Messages
778
EUR/USD is the most traded currency pair on the Forex market with a very tight spread. All the newbies are advised to start their trading career by starting their trades on this currency pair. Moreover, you can trade on any currency pair which you feel is the best suitable for you.

I don't think that EUR/USD is necessarily the best pair for a newbie. Yes, it is very popular, but on the other hand it often moves in a choppy manner and is prone to being range-bound.
 

fxekspert.eu

Recruit
Messages
15
Every pair has it´s characteristics and I think a beginner must first research, get to know a few different currency pairs and then make further desicions.

If you have some time on your hands to read news and keep an eye on the charts, maybe you should try to pick more than one pair (2 or 3 for example). Major pairs are easier to keep a track of. Really depends on the person though...
 

dianajs

Private, 1st Class
Messages
778
I agree. One should be able to switch between several different currency pairs when trading conditions change, so it's important to study more than one pair.
 

dianajs

Private, 1st Class
Messages
778
At the same time I would caution you not to take on too many currency pairs at the same time. I think a trader should focus on more than one, but should also carefully consider how many is too many.
 

nahiyar

Private, 1st Class
Messages
816
Yes avoid trading in multiple pairs . This experience is easy and suitable on demo trading But not do it on live trading. Many pairs will involve much of your amount in trading. It will proper to be practice on demo on different pairs to find out best of them in terms of market movement, analysis and profit taking. Focus is important that should not be loosed you trade in any pair and one good advice is to choose pairs that are having low spread.
 
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