Choosing a pair

Feb 25, 2021 at 12:33
2,562 Views
45 Replies
Member Since Jul 19, 2020   751 posts
Apr 01, 2021 at 13:56
Most traders try to trade a lot pairs. But it is not a good idea to trade so many pairs. Trading few pairs will give more insights about those pair as you observe those pairs for a long time.
Member Since Aug 07, 2020   75 posts
Apr 02, 2021 at 06:01
Despite the fact that brokers provide a large number of currency pairs that you can work with, it is best to have a few and completely focus on them.
Member Since Apr 03, 2021   470 posts
Apr 03, 2021 at 02:22 (edited Apr 03, 2021 at 02:23)
Since in beginner trader, most experienced trader suggested to choose pair with a low spread like as EURUSD, USDJPY, and till now I like with those pair too, but in my daily trading usually open multiple pairs, like as EURUSD, EURJPY. GBPJPY, GBPUSD, sometimes I work correlation between pair
Member Since Jul 20, 2020   399 posts
Apr 09, 2021 at 13:40
patriciablack posted:
Every pair moves differently in the market. It is up to you to decide which pair’s movement you understand the best and can trade for the long-term.

Very true. It depends on what style of trading you're doing too if you're scalping a fast pair is good if youre swinging a trending pair is best
Member Since Mar 29, 2021   9 posts
May 07, 2021 at 16:31
Choosing an fx pairs is easy - fine top 5 pairs with lowest spread then find the one that has a positive carry trade - only trade in the positive direction and get the rewards. Go with the flow , not against it
Member Since May 10, 2021   9 posts
May 11, 2021 at 11:10
SofieAndreasen posted:
Major pairs are more volatile than other pair. New traders should not use other than major pairs.
I prefer USDJPY, don't ask me why, because I have the inside information of the fund, you can experience with me😄😄
Member Since Apr 03, 2021   28 posts
May 26, 2021 at 08:19
Yes every pair has something different to offer to a trader and they should really be careful with the one they are trading. Making a systematic analysis of a particular pair becomes very important for a trader.
Member Since Apr 16, 2021   8 posts
May 26, 2021 at 10:10
Just stick to EURUSD like most newbies. It is the best pair, most liquid with low spreads. Easy
Member Since Jul 19, 2020   751 posts
May 28, 2021 at 11:49
Personally I prefer GBPUSD. To choose or find your favourite pair, you have to select 2/3 pairs and observe them a lot. By scanning their charts regularly, you will be able to find some patterns that will give you extra benefits.
Member Since Jun 15, 2021   13 posts
Jul 27, 2021 at 06:41
I prefer using EURUSD as the safest pair and has high liquidity value as well
Member Since Mar 28, 2021   617 posts
Jul 27, 2021 at 08:06
@glendawhite I prefer GBPUSD. It seems I understand this pair more than other pairs. Yeah EURUSD is a safe pair.
Member Since May 19, 2020   420 posts
Jul 27, 2021 at 09:38
The best way to choose a trading pair is to compare the news, volatility and risk data before trading and choose the option that is expected to bring the most profit. Don't look at just one pair, improve your trading and knowledge by using several.
@Marcellus8610
Member Since Jul 24, 2020   12 posts
Aug 28, 2021 at 18:50
I believe that you shouldn't spend too much time on choosing a trading pair mostly because it's just a waste of time. You just have to find out which one is the most preferable for you by checking the news, volatility and actually opportunities to earn money on a particular pair. Hence you should do it very carefully, but fast in order to save your time. Of course, no doubts, that it's very important for a trader to determine which asset is the most suitable for you, nevertheless there are lots of other things to which you will have to dedicate your time. In my opinion, you'd better concentrate on your trading strategy.
Member Since Jul 19, 2020   751 posts
Aug 31, 2021 at 10:08
You have to take time to understand a pair. Every pair has its own certain movement pattern. Without spending time on it you can not find them out.
Member Since Feb 20, 2021   7 posts
Aug 31, 2021 at 19:22
Different pairs have different properties and they can be treated not as different types of one particular financial instruments, but as different instruments. More than that, many trading strategies can perform differently while trading with different currency pairs. So, before switching to another pair, prepare yourself for such a move.
Member Since Apr 03, 2021   470 posts
Sep 01, 2021 at 00:09
There are so many pairs available in the forex market, but it depending on broker policy, because each broker is not the same about their service, but usually major pairs become the most selected pairs among traders, the reason is low spread and high volatility, but another cross pair like as GBPJPY, also good pair to trade, because high volatility
Member Since Jul 20, 2020   399 posts
Sep 01, 2021 at 07:01
Lexxt posted:
I believe that you shouldn't spend too much time on choosing a trading pair mostly because it's just a waste of time. You just have to find out which one is the most preferable for you by checking the news, volatility and actually opportunities to earn money on a particular pair. Hence you should do it very carefully, but fast in order to save your time. Of course, no doubts, that it's very important for a trader to determine which asset is the most suitable for you, nevertheless there are lots of other things to which you will have to dedicate your time. In my opinion, you'd better concentrate on your trading strategy.

I agree with this you should be fitting the strategy to the pair not the opposite way around. Some love trading GU but it doesn't suit their trading style. Its all about adapting to how you trade
Member Since May 19, 2020   420 posts
Sep 01, 2021 at 09:59
FXOday posted:
There are so many pairs available in the forex market, but it depending on broker policy, because each broker is not the same about their service, but usually major pairs become the most selected pairs among traders, the reason is low spread and high volatility, but another cross pair like as GBPJPY, also good pair to trade, because high volatility
Pound Yen pair has a good volatility and covers 2 largest markets and, accordingly, 2 trading sessions. Good volatility and unpredictable impulses make this pair challenging for newbies, but tempting for those who know how to control risk.
@Marcellus8610
Member Since Sep 01, 2021   9 posts
Sep 01, 2021 at 11:26
GJ has good volatility but I find it too unpredictable and even with the volatility the spread is generally larger than on other pairs which eats a lot of profit
Member Since Oct 20, 2020   49 posts
Sep 01, 2021 at 13:35
'Choosing a pair might seem simple, but it is also important for a trader to choose the right pair because the strategy also depends on the type of pair that will be used.

Some pairs are chosen based on the time frame and volatility in the market.'
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