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sailingconsist
Jan 21 at 10:55
29 posts
Breonnataylor posted:
Mariel23134 posted:
I prefer to trade USD EUR. In my opinion, this is the most understandable and predictable pair.

Absolutely I agree with you that EUR/USD is the easiest pair for anyone trading in forex. It is not complex and heavily liquid which is a plus. I think traders should use common pairs of trading initially.

No doubt EUR/USD are the most easiest pairs of trading but I think after some time a trader should invest his/her time to learn about the exotic forex pairs like ZAR/USD because they hold more profit potential. When the major pairs are stagnated or not providing profits, exotic pairs can come to the rescue.

Gleywilleyy
Jan 21 at 12:56
41 posts
sailingconsist posted:
Breonnataylor posted:
Mariel23134 posted:
I prefer to trade USD EUR. In my opinion, this is the most understandable and predictable pair.

Absolutely I agree with you that EUR/USD is the easiest pair for anyone trading in forex. It is not complex and heavily liquid which is a plus. I think traders should use common pairs of trading initially.

No doubt EUR/USD are the most easiest pairs of trading but I think after some time a trader should invest his/her time to learn about the exotic forex pairs like ZAR/USD because they hold more profit potential. When the major pairs are stagnated or not providing profits, exotic pairs can come to the rescue.

When the spreads get huge according to my time zone, trading gets very unprofitable. So I totally agree with you that exotic pairs can be very useful in these tricky situations. I also trade other pairs as well like the major pairs like GBP/USD and EUR/USD, depending on the time I’m trading in. That’s why I use brokers with lower swap/rollover rates and spreads at all times. Currently using Fxview and IB, which ones are you using?

Marshalsam877
Jan 22 at 10:12
20 posts
There are other popular pairs apart from USD/EUR for trading like AUD/CAD,USD/JPY, USD/GBP etc. which are worth exploring. Newbies shouldn’t venture outside this zone.

sailingconsist
Jan 22 at 11:43
29 posts
Marshalsam877 posted:
There are other popular pairs apart from USD/EUR for trading like AUD/CAD,USD/JPY, USD/GBP etc. which are worth exploring. Newbies shouldn’t venture outside this zone.

Absolutely. Exotic pair trading should not be undertaken by people with less experience because as the chance for the profit increases, the same is the risk for loss. It’s always better to balance out. In fact that’s why I am using an assortment of brokers ranging from Pepperstone to Fxview because this helps me in better risk management. Multiple brokers and multiple currencies is my strategy.

Gleywilleyy
Jan 22 at 13:20
41 posts
sailingconsist posted:
Marshalsam877 posted:
There are other popular pairs apart from USD/EUR for trading like AUD/CAD,USD/JPY, USD/GBP etc. which are worth exploring. Newbies shouldn’t venture outside this zone.

Absolutely. Exotic pair trading should not be undertaken by people with less experience because as the chance for the profit increases, the same is the risk for loss. It’s always better to balance out. In fact that’s why I am using an assortment of brokers ranging from Pepperstone to Fxview because this helps me in better risk management. Multiple brokers and multiple currencies is my strategy.

Actually I am fairly new in exotic pair trading and mostly practicing them in demo. With major pairs I am sure of strategy but want to increase my profits. Do share the strategies you use for exotic pair trading! Thanks!

acidhinity
Yesterday at 09:55
11 posts
I believe some exotic pairs can really be a pain in the neck and are difficult to trade. I avoid them as much as I can. Major pairs are good to trade.

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