Most crypto are STRONGLY correlated meaning it doesn't matter which one you choose it will move in roughly the same way as all the others. Just open charts of bitcoin, etherium, litecoin and dash. They are almost identical apart in shape
Sagarmatha
Member Since Sep 26, 2018
9 posts
Sep 26 2018 at 10:28
Crypto aren't performing lately. Many just go sideways or downwards. Not the big wins that happen in 2017. I think crypto dying
vontogr
(togr)
Member Since Feb 22, 2011
4862 posts
Sep 26 2018 at 14:05
Crypto is a lot volatile.
It could make or lose 100% a day.
Patience is the key [and good crypto selection]
It could make or lose 100% a day.
Patience is the key [and good crypto selection]
JamesAnderson
Member Since Mar 26, 2018
31 posts
Oct 19 2018 at 09:20
Few Tips to choose best currency pair
- It’s better to open charts of at least seven currency pairs
- Skimming through the latest market news is a must
- Checking out latest trading strategies
- Pair up strong currencies against weak currencies
- Conduct Technical Analysis
- Narrow down your currency pairs of choice
- Go against the trading crowd, don’t forget to follow your feeling
- It’s better to open charts of at least seven currency pairs
- Skimming through the latest market news is a must
- Checking out latest trading strategies
- Pair up strong currencies against weak currencies
- Conduct Technical Analysis
- Narrow down your currency pairs of choice
- Go against the trading crowd, don’t forget to follow your feeling
I think it depends on the experience of the person trading. Seven currency pairs at the same time may be a bit too much for an unexperienced trader, but just enough for a someone who has traded for years.
kieran
(snapdragon1970)
Member Since Sep 12, 2015
1948 posts
Oct 19 2018 at 15:53
My advice is start with one pair and learn everything you can about that pair ,that takes a lot of time especially for someone new,then look at other pairs related.
"They mistook leverage with genius".
I think that the best pairs are the ones that are the most liquid like EURUSD, USDJPY. The majors essentially. These are the ones that have the most readable price movement and low spreads. Take 3 or 4 of those and follow them only. Don't bother opening 100 charts and finding the 'best' pair. The best pair is the one that you are familiar with and can know how it moves
vontogr
(togr)
Member Since Feb 22, 2011
4862 posts
Oct 21 2018 at 06:19
JamesAnderson posted:Or simply stick with EURUSD
Few Tips to choose best currency pair
- It’s better to open charts of at least seven currency pairs
- Skimming through the latest market news is a must
- Checking out latest trading strategies
- Pair up strong currencies against weak currencies
- Conduct Technical Analysis
- Narrow down your currency pairs of choice
- Go against the trading crowd, don’t forget to follow your feeling
bellabella
Member Since Apr 09, 2018
12 posts
Nov 01 2018 at 07:04
I like to trade GOLD. But such currency pairs as EURUSD, GBPUSD are also my favorite.
I would like to know your opinion about trading on the news. What do you think about this?
I would like to know your opinion about trading on the news. What do you think about this?
I prefer to avoid trading news for the most part. Why do you like trading Gold?
kieran
(snapdragon1970)
Member Since Sep 12, 2015
1948 posts
Nov 01 2018 at 14:29
Good advice from above, for someone new ,one currency is more than enough to begin with eur/usd is a good place to start, be careful trading weak against strong because its delayed data, we trade up to the news/data and after, some scalping on the release,I like to trade Gold to when its below 12.
"They mistook leverage with genius".
bellabella
Member Since Apr 09, 2018
12 posts
Nov 02 2018 at 06:28
dianajs posted:I like to trade GOLD because it always has good volatility in the market. Like the EURUSD. Also I like USDJPY currency pair.
I prefer to avoid trading news for the most part. Why do you like trading Gold?
Why do you avoid trading news?
Currencies are not meant for long term investment unless you mean position trading which takes a long term view of a currency pair to trade. The best advice I can give is look for a currency pair that has gone from a high or a low for 1000 pips. Central (sovereign?) banks don't like that much continued movement in their currency in any one direction for economic reasons so they may signal the market movers by interest rates or a strong advisory statement to the world that they may step in to change the direction.
The strong currency of the pair is the one to look for of course. You may see signs of a reversal of a long term run around that 1000 pip mark. Or hear rumors of the central bank wanting a change around that area. Kurota of Japan and Drahi are famous for their 'advisories' but sometimes they cry 'Wolf' too often.
This basically applies to the majors and other pairs which are freely traded. Exotic pairs are so volatile that who knows what they might be long term.😲
Good luck and be careful out there.
The strong currency of the pair is the one to look for of course. You may see signs of a reversal of a long term run around that 1000 pip mark. Or hear rumors of the central bank wanting a change around that area. Kurota of Japan and Drahi are famous for their 'advisories' but sometimes they cry 'Wolf' too often.
This basically applies to the majors and other pairs which are freely traded. Exotic pairs are so volatile that who knows what they might be long term.😲
Good luck and be careful out there.
You could do speculative investment in some exotic currencies that have recently devalued, Turkish lira, Russian ruble, Argentinean Peso etc. They could be good speculative investments. But all exotics carry a lot more risk (and volatility) than the majors so be careful
The following 3 pairs are the best to trade as they are highly liquid and ensure good returns.
1. USD/EUR – This currency pair is the most popular currency pair as well as not too volatile. It has got the lowest spreads and so least risk.
2. USD/GBP – Though this pair is a volatile one however, one must keep in mind that larger profits come with larger risks. So many traders prefer to trade in this pair.
3. USD/JPY – It is another popular currency which has low spreads , less risk and a great chance of generating high profits for its traders.
Other than these pairs , the following tips will help an investor to choose which currencies to trade in.
• Trade in the major pairs. Majors pairs include the US DOLLAR as one currency such as USD/CAD , AUD/USD , USD/CHF ETC.
• Take a look at the charts. Try to analyse the trends by noticing which currencies are showing absurd patterns and which are going good.
• Pair up strong currencies with the weak currencies.
• Always remain updated about the news. The economies which are progressing are always good to trade forex in and vice versa.
1. USD/EUR – This currency pair is the most popular currency pair as well as not too volatile. It has got the lowest spreads and so least risk.
2. USD/GBP – Though this pair is a volatile one however, one must keep in mind that larger profits come with larger risks. So many traders prefer to trade in this pair.
3. USD/JPY – It is another popular currency which has low spreads , less risk and a great chance of generating high profits for its traders.
Other than these pairs , the following tips will help an investor to choose which currencies to trade in.
• Trade in the major pairs. Majors pairs include the US DOLLAR as one currency such as USD/CAD , AUD/USD , USD/CHF ETC.
• Take a look at the charts. Try to analyse the trends by noticing which currencies are showing absurd patterns and which are going good.
• Pair up strong currencies with the weak currencies.
• Always remain updated about the news. The economies which are progressing are always good to trade forex in and vice versa.
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.
It differs from person to person based on their needs or expectations as traders such as long or short term aspect,spreads or you can choose the pairing of your interest because pairs tend to trending so choose which will suit you. You can keep yourself updated by latest market news or trying pair up strong currencies against weaker ones.
vontogr
(togr)
Member Since Feb 22, 2011
4862 posts
Jul 17 2019 at 06:57
smith_fx posted:
The following 3 pairs are the best to trade as they are highly liquid and ensure good returns.
1. USD/EUR – This currency pair is the most popular currency pair as well as not too volatile. It has got the lowest spreads and so least risk.
2. USD/GBP – Though this pair is a volatile one however, one must keep in mind that larger profits come with larger risks. So many traders prefer to trade in this pair.
3. USD/JPY – It is another popular currency which has low spreads , less risk and a great chance of generating high profits for its traders.
Other than these pairs , the following tips will help an investor to choose which currencies to trade in.
• Trade in the major pairs. Majors pairs include the US DOLLAR as one currency such as USD/CAD , AUD/USD , USD/CHF ETC.
• Take a look at the charts. Try to analyse the trends by noticing which currencies are showing absurd patterns and which are going good.
• Pair up strong currencies with the weak currencies.
• Always remain updated about the news. The economies which are progressing are always good to trade forex in and vice versa.
USDEUR does not exist
It is EURUSD and yes that is quite different. It is higly volatile in fact because there are lot of political and economical news affecting both EUR and USD. Single Trump tweet moves the price a lot.
i think, gold is the best investment and as for best pair currency pair for investment, it has to be the majors. i know they are highly volatile but they will generate good rate of return and you can always go with buy on dips strategy because of the volatility. just my thought.
Currency pair decision is always being an important thing for a forex trader as what a trader will receive from his trading of currencies will greatly dependent on how he can make best from the trading of different currencies. Yes, we all traders can be different in trading needs and thereby choice of currency pairs can be varying. I usually love to work with major currency pairs as these pairs show less variability.