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Which currency pair should I trade?

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

  1. dianajs

    dianajs Private, 1st Class

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    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.
     
  2. fxekspert.eu

    fxekspert.eu Recruit

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    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...
     
  3. dianajs

    dianajs Private, 1st Class

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    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.
     
  4. CryptoatForex

    CryptoatForex Recruit

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    You want to be looking at lots of different pairs, charting them up, and then taking the trades which meet your plans.
     
  5. dianajs

    dianajs Private, 1st Class

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    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.
     
  6. nahiyar

    nahiyar Private, 1st Class

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    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.
     
  7. CryptoatForex

    CryptoatForex Recruit

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    Best to learn a few pairs and become an expert on them.
     
  8. dianajs

    dianajs Private, 1st Class

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    Which pairs would you recommend?
     
  9. CryptoatForex

    CryptoatForex Recruit

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    Personally I like EUR/USD, AUD/CAD, EUR/NZD
     
  10. dianajs

    dianajs Private, 1st Class

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    Why do you like these pairs in particular?
     

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