To use chat, please login.
Back to contacts

How to select the Best Currency Pair for Investment?

TanEric
May 09 2017 at 11:28
6 posts
Can anyone help me in knowing the best currency pairs for trading in the forex market? I am dilemma please help me or share any link which could help me in knowing that.

mlawson71
May 09 2017 at 13:32
1487 posts
That is a simple question with a complicated answer, which depends on a lot of things - what kind of spreads do you prefer, are you a long-term or a short-term trader, which pairings are you interested in to begin with, etc.etc.

alfredgervais16
May 10 2017 at 10:21
33 posts
Hi @TanEric

@mlawson71 is definitely correct. there's a lot to consider. however, to answer your question, the most common traded pairs are EUR/USD, GBP/USD and USD/JPY. But I will provide a link that contains brief articles to increase your knowledge about different currency pairs.

https://www.itrader.com/en/page/eur-usd (EUR/USD pair)
https://www.itrader.com/en/page/gbp-eur (Cross Currency trading)

mlawson71
May 10 2017 at 12:03
1487 posts
You could also look into secondary pairs like USDCAD, NZDUSD, GBPJPY, EURGBP, EURJPY and so on.

Baldo (BaldoN)
May 11 2017 at 13:29
522 posts
TanEric posted:
Can anyone help me in knowing the best currency pairs for trading in the forex market? I am dilemma please help me or share any link which could help me in knowing that.


No one can tell you which is the best FX pairs for trading that will suit for you :)

There are pairs tend to trending, other to ranging - just need to make small research and to find which will fit you.

If you want to invest rather to trade, then is better to chose trending market like USD/TRY or EUR/TRY or GBP/JPY or GBP/NZD that forms long trends and take advantage from the large price movement.

Also you need to be aware that they hide solid risk for your investment if the market does not follow your desired direction.

AmeliaChong
May 11 2017 at 13:48
33 posts
Hello @TanEric

I was just going through some blogs and got a blog https://www.mmfsolutions.sg/blog/forex-trading-tips-investment/

I hope it could help you.

Tiffany (TiffanyK)
May 12 2017 at 12:42
427 posts
What is your dilemma? I don’t think there is such thing as “Best Currency for trading”. More likely “best currency for applying your strategy

Accept the loss as experience
TanEric
May 19 2017 at 09:32
6 posts
mlawson71
May 23 2017 at 10:48
1487 posts
TiffanyK posted:
What is your dilemma? I don’t think there is such thing as “Best Currency for trading”. More likely “best currency for applying your strategy


That was my thought too - 'the best currency pair' is a very subjective choice that is different for different people based on their needs as traders.

Eino (icepower72)
Jul 04 2017 at 14:55
13 posts
here is another interesting question - is there a pair that you could call 'the most predictable' ..., anyone?

kieran (snapdragon1970)
Jul 04 2017 at 16:37
1945 posts
icepower72 posted:
here is another interesting question - is there a pair that you could call 'the most predictable' ..., anyone?


That depends on the trader, some who specialise in one currency have a higher hit rate, even when it doesn't behave as predictable they know it will revert, for me I would say eur/gbp but its a personal thing.

"They mistook leverage with genius".
rob559
Jul 05 2017 at 06:07
1916 posts
eurusd seems the overall better pair no matter your trading style

AmeliaChong
Jul 05 2017 at 06:23
33 posts
I think predicting any currency pair is just a probability of either it will go up or down or will not. Everything depends on market fluctuations, sometimes geopolitical issues and disasters are responsible for a rate change in Forex Pairs which can't be predictable so as per my experience, there is nothing like the most predictable.

mlawson71
Jul 05 2017 at 13:08
1487 posts
To me a predictable pair is the one that often moves smoothly within its trend without much choppiness. But different pairs fit that description at different times, so one should always be paying attention.

Baldo (BaldoN)
Jul 05 2017 at 14:14
522 posts
Investment - the horizon for investment would suggest long term trading - buy and hold or sell and hold :)

Samuel Bonokwane (SammyB)
Jul 05 2017 at 14:55
15 posts
EURUSD is the most traded but I wouldn't say most predictable.

Simplicity is the ultimate sophistication
Jack Frost (jackfrost)
Jul 06 2017 at 07:12
7 posts
The main pairs I think would all be a good option, also I don't think there's a best currency since the trend is always shifting. Just have to spend time and read the market yourself.

mlawson71
Jul 08 2017 at 12:04
1487 posts
SammyB posted:
EURUSD is the most traded but I wouldn't say most predictable.


I agree. That is why I usually actually don't recommend it to newbies. I traded it as a newbie, it was a mistake.

zbyszek_uczen
Jul 19 2017 at 06:33
5 posts
Yes EURUSD is the most traded. I found more about a pattern or a setup and then how it works on the pair I like the most.

mlawson71
Jul 19 2017 at 16:42
1487 posts
zbyszek_uczen posted:
Yes EURUSD is the most traded. I found more about a pattern or a setup and then how it works on the pair I like the most.


Which pair do you like the most? EUR/USD? Doesn't the volatility bother you?

Please login to comment .