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Best pairs to start? newbie here...
Členem od Dec 19, 2016
4 příspěvků
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. :)
Členem od Feb 22, 2011
4573 příspěvků
Dec 21, 2016 at 08:53
EURUSD
but avoid any major news
but avoid any major news
Členem od Oct 05, 2016
12 příspěvků
Dec 21, 2016 at 09:57
From the beginning of my trading, I used to perform with EURJPY. About togr's note to avoid major news, it is a must for each new trader independently on pair
Členem od Dec 19, 2016
4 příspěvků
Dec 22, 2016 at 07:24
Thanks!
Členem od Jun 15, 2015
49 příspěvků
Dec 25, 2016 at 08:35
Yes, it is a reasonable option to start with major currency pair as the liquidity there is big enough so you can have enough price dynamics in the market to study it.
Členem od Jan 30, 2017
12 příspěvků
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.
Členem od Feb 12, 2016
507 příspěvků
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 :)
Členem od Feb 12, 2016
394 příspěvků
Feb 02, 2017 at 12:11
I can fully agree with BaldoN’s comment – try to avoid USD pairs in the beginning. Maybe EURJPY or EURCHF as mentioned before.
Accept the loss as experience
Členem od Dec 11, 2015
1462 příspěvků
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.
Členem od Feb 22, 2011
4573 příspěvků
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
Členem od Jul 09, 2015
48 příspěvků
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?
Členem od Feb 22, 2011
4573 příspěvků
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
Členem od Dec 20, 2016
3 příspěvků
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.
Členem od Jan 31, 2017
9 příspěvků
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.
Členem od Dec 11, 2015
1462 příspěvků
Feb 05, 2017 at 13:11
Personally, I prefer EUR/GBP to EUR/USD.
Členem od Oct 21, 2016
50 příspěvků
Feb 06, 2017 at 10:53
I started with EURUSD but also now I am into silver. Tried the DAX as well. I guess for newbees it is still better to focus on a single instrument first.
Trade with determination!
Členem od Oct 21, 2016
50 příspěvků
Feb 06, 2017 at 10:53
Candela posted:
Trade Gold and USD/JPY, been trading these for a longer period of time.
Watch daily very closely the DOW and Nikkei.
I like the fact that you apply diversified approach trading not only forex.
Trade with determination!
Členem od Dec 11, 2015
1462 příspěvků
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.
Členem od Feb 02, 2017
32 příspěvků
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.
Členem od Dec 11, 2015
1462 příspěvků
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.
