Best pairs to start? newbie here...
Member Since Dec 19, 2016
4 posts
Dec 21, 2016 at 08:06
Hi, I´m new at forex, I´ve been on a demo account for almost a month.
I´d like to know if there´s something like a cuople of ideal pairs to start and get to know the market a little easier...?
Maybe it´s a stupid question but also maybe not, lol
Thanks in advance. :)
I´d like to know if there´s something like a cuople of ideal pairs to start and get to know the market a little easier...?
Maybe it´s a stupid question but also maybe not, lol
Thanks in advance. :)
Member Since Feb 22, 2011
4573 posts
Dec 21, 2016 at 08:53
EURUSD
but avoid any major news
but avoid any major news
Member Since Dec 19, 2016
4 posts
Dec 22, 2016 at 07:24
Thanks!
Member Since Jan 30, 2017
12 posts
Feb 01, 2017 at 15:40
Trade only in major pairs like GBP, EUR, JPY and AUD. These currencies have very volatile market and thus, have greater opportunities to trade and earn. New traders usually trade in difficult currencies/ not so volatile currencies which result in huge losses. Thus, it becomes further difficult for a new trader to stay in the market for a long run.
Feb 02, 2017 at 09:30
I would suggest EUR/CHF, because it is slow motion FX pair and makes many returns (market may forgive you your bad entry :) more then any other pair) and always place disaster STOP to protect your funds.
Avoid USD pairs (due to high level of market manipulation) and do not try :) news trading - have in mind some JPY pairs are traded during news, related with USD (ex. during NFP, news/spike traders uses USD/JPY :)
Avoid USD pairs (due to high level of market manipulation) and do not try :) news trading - have in mind some JPY pairs are traded during news, related with USD (ex. during NFP, news/spike traders uses USD/JPY :)
Member Since Dec 11, 2015
1462 posts
Feb 02, 2017 at 13:01
I am not fond of any CHF pairs, but I do agree that the EUR-related pairs can be quite profitable.
Member Since Feb 22, 2011
4573 posts
Feb 02, 2017 at 13:15
mlawson71 posted:
I am not fond of any CHF pairs, but I do agree that the EUR-related pairs can be quite profitable.
but eur related pairs are also volatile driven by politics
Feb 02, 2017 at 15:05
I doubt that there is any currency not driven by politics. Sound advices were given already in the discussion to avoid news trading and focus on majors. There you simply find more price action to study and learn from.
@cesaraugusto Have you chosen your pairs to start with?
@cesaraugusto Have you chosen your pairs to start with?
Member Since Feb 22, 2011
4573 posts
Feb 02, 2017 at 15:15
MC85 posted:
I doubt that there is any currency not driven by politics. Sound advices were given already in the discussion to avoid news trading and focus on majors. There you simply find more price action to study and learn from.
@cesaraugusto Have you chosen your pairs to start with?
CHF is not so driven like EUR or USD
Feb 03, 2017 at 07:47
Trade Gold and USD/JPY, been trading these for a longer period of time.
Watch daily very closely the DOW and Nikkei.
Don't use 3rd parties EA. I have tested several ones on the long run (demo's) and results are not good.
Think about it for a moment, if the EA is so successful why sell to others......
Most importantly; Do NOT listen to no one & and DO what you want to do!! Follow your strategy and plan! In special do not use Forex signals by whatsapp, never use these ever. It all looks amazing on social media or any other channel of advertisement with their beautiful presentations, videos, pictures of very exotic cars, or the excel tables on how many pips they gained etc.
Make a strategy and do what you want to do. Gold and UJ: I do only these 2 pairs, but in the end you would need to find your own pairs what suits you (in case if you decide to trade for a long period. Due trading is not something you do for a couple of days, rather it becomes part of your life)
Watch daily very closely the DOW and Nikkei.
Don't use 3rd parties EA. I have tested several ones on the long run (demo's) and results are not good.
Think about it for a moment, if the EA is so successful why sell to others......
Most importantly; Do NOT listen to no one & and DO what you want to do!! Follow your strategy and plan! In special do not use Forex signals by whatsapp, never use these ever. It all looks amazing on social media or any other channel of advertisement with their beautiful presentations, videos, pictures of very exotic cars, or the excel tables on how many pips they gained etc.
Make a strategy and do what you want to do. Gold and UJ: I do only these 2 pairs, but in the end you would need to find your own pairs what suits you (in case if you decide to trade for a long period. Due trading is not something you do for a couple of days, rather it becomes part of your life)
When systems get deleted, it's most likely because they blew up. Humans aren't normally as shy if they're successful.
Member Since Jan 31, 2017
9 posts
Feb 05, 2017 at 07:36
Mine best pairs are EURUSD and USDJPY and one of the reasons for these pairs are that they are most liquid FX pair with the lowest spread leading to low trading cost.
Member Since Dec 11, 2015
1462 posts
Feb 05, 2017 at 13:11
Personally, I prefer EUR/GBP to EUR/USD.
Member Since Dec 11, 2015
1462 posts
Feb 06, 2017 at 12:37
I somewhat agree, but I also think it’s good to point out that trading indices is not exactly like trading currency pairs.
Feb 06, 2017 at 12:57
It all depends upon the trading style that one wants to adopt. If you are interested in range bound markets and want to get involved in scalping then you can look in to the currency pair like EURUSD, this currency pair is very stable and range bound and you wouldn’t be at bigger risk if trend goes against you. Good to start with!
However, if you want to trade in currency pairs which have the potentials to generate a good amount of profits then you should be looking for the volatile currency pairs like GBUSD, GBPJPY & NZDUSD. These currency pairs are more volatile as compared to other currency pairs, giving the potential of higher profits in small time frame but your risk also get increases.
However, if you want to trade in currency pairs which have the potentials to generate a good amount of profits then you should be looking for the volatile currency pairs like GBUSD, GBPJPY & NZDUSD. These currency pairs are more volatile as compared to other currency pairs, giving the potential of higher profits in small time frame but your risk also get increases.
Member Since Dec 11, 2015
1462 posts
Feb 08, 2017 at 13:06
ema123 posted:
It all depends upon the trading style that one wants to adopt. If you are interested in range bound markets and want to get involved in scalping then you can look in to the currency pair like EURUSD, this currency pair is very stable and range bound and you wouldn’t be at bigger risk if trend goes against you. Good to start with!
However, if you want to trade in currency pairs which have the potentials to generate a good amount of profits then you should be looking for the volatile currency pairs like GBUSD, GBPJPY & NZDUSD. These currency pairs are more volatile as compared to other currency pairs, giving the potential of higher profits in small time frame but your risk also get increases.
That’s a good point. I stay away from EUR/USD because I don’t trade range very well.
