How to select the Best Currency Pair for Investment?
Mitglied seit Jul 19, 2020
318 Posts
Sep 04, 2020 at 10:34
If you want to select the best pair, you have to research the market properly. You should be very careful. You should properly analyze the market before choosing the pair.
Mitglied seit Mar 18, 2019
98 Posts
Sep 06, 2020 at 09:37
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.
start with th majors. maybe try some metals too
Mitglied seit Jul 20, 2020
298 Posts
Sep 07, 2020 at 02:18
There are many types of currencies in Forex trading. The best of these currencies is the major currency. I have chosen to trade some currencies from this major currency. These are EURUSD, AUDUSD, USDJPY, EURJPY, and GBPUSD. The spread in these pairs is much less and the movement is much better. I make a lot of profit by trading in these pairs.
Mitglied seit Mar 17, 2021
536 Posts
Oct 04, 2021 at 20:26
lavis_book posted:Proper knowledge and experience will help you.
To select a good currency pair, it is very important that you analyze all the charts carefully and also check for all the market updates. According to the market situation and your portfolio requirements, choose currency pairs that suit you. Don’t follow the crowd and do try to pair strong currencies against the weak ones. Then run technical analysis on the currency pairs you have shortlisted to finally reach to a decision.
Mitglied seit Jul 23, 2020
869 Posts
Oct 06, 2021 at 06:12
Major pairs are best in terms of volatility, spreads.
Mitglied seit Jul 23, 2020
759 Posts
Oct 06, 2021 at 12:30
I prefer EURUSD and GBPUSD. Those are my favorite pairs.
Mitglied seit Apr 09, 2019
538 Posts
Oct 07, 2021 at 14:17
I personally started with EURUSD and then expanded to a few more from there. My reasoning was that it is closely inversely tied to the DXY and thus a strong confluence can be drawn from it.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Aug 17, 2021
94 Posts
Oct 09, 2021 at 19:09
First, identify whether the pair is a trending or non-trending pair. Second, figure out what type of strategy you will be trading. Finally, you want to know the average true range of that pair (which means how much the pair moves on a day-to-day basis).
Mitglied seit Aug 17, 2021
94 Posts
Oct 16, 2021 at 17:14
EUR/USD.
USD/JPY: Trading the 'Gopher'
GBP/USD: Trading the 'Cable'
AUD/USD: Trading the 'Aussie'
USD/CAD: Trading the 'Loonie'
USD/CNY: Trading the Yuan.
Mitglied seit Mar 17, 2021
536 Posts
Dec 11, 2021 at 06:15
You can trade on a demo account first to find the best pair.
Feb 03, 2022 at 15:00
Test all currency pairs available with your broker on a demo account and you will know what’s good for you. There’s no need to ask anybody what to trade. Find it out on your own. Of course, it will take some time but in the end you will know for sure what’s really compatible with you.
Feb 23, 2022 at 07:19
“Best” is very subjective. All pairs work differently because they all trend differently. For instance, I can trade EUR/USD rather than USD/JPY. All pairs require different analyses. It is up to you which pair you can trade well. So if you are new, try to trade with 2-3 pairs and test yourself out. However, go for major pairs or pairs which have high liquidity. You can go with EUR/USD because it is easy to trade for beginners.
Mitglied seit Jan 20, 2022
31 Posts
Mar 01, 2022 at 06:50
If you are planning to select a currency pair for trading in the forex market, I’d suggest you go for a liquid pair as they are combinations of two large economies and offer stability to a certain extent as well as are liquid and facilitate lower spreads in comparison to the illiquid pairs. Some of the heavily traded currency pairs are USD/EUR, JPY/USD, AUD/USD, GBP/USD etc.
Mitglied seit Jan 11, 2020
23 Posts
Mar 03, 2022 at 13:07
All the currency pairs might be considered as the best ones. It doesn't matter which one you would choose, the matter here is that your strategy would work for this currency pair or maybe couple of such ones. I believe traders shouldn't concentrate their attention on such minor things. They mean nothing.
To my mind, such a choice is inherent to stocks for example or maybe ETFs and something like that. In this case you can ask which stock or at least which industry is the best. Here the answer is simple, the bet industry for stock market is IT.
Always remember about the diversification of your portfolio, it has to be variable.
To my mind, such a choice is inherent to stocks for example or maybe ETFs and something like that. In this case you can ask which stock or at least which industry is the best. Here the answer is simple, the bet industry for stock market is IT.
Always remember about the diversification of your portfolio, it has to be variable.
Mar 10, 2022 at 07:22
Broadly, currency pairs are divided into 4 types - major, minor, regional and exotic. While choosing a currency pair, traders should choose pairs that have high liquidity and less volatility. Out of the four categories, major pairs make the best currency pairs to trade. They include pairs like EUR/USD, USD/JPY, USD/CAD, and GBP/USD.
Mar 14, 2022 at 06:38
A trader should consider looking into the liquidity and volatility of the currency pair they want to trade. Traders should prefer trading pairs with high liquidity and low volatility. The major currency pairs are most popular among traders and are more stable than minor and exotic currency pairs.
Mar 16, 2022 at 12:22
TanEric posted:If you are a newbie; then start with EURUSD trading pair! Don’t focus on the multiple pairs in your early stage of trading! Besides, try to avoid the exotic trading pairs!
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.
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