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How to select the Best Currency Pair for Investment?

kieran (snapdragon1970)
Jul 19 2017 at 18:15
posts 1945
I did a lot of research on different currency's but when you look at the spreads it just kills any edge, that's why I always traded eur/usd and eur/gbp ,but actually very few traded gbp when I first started, plus gbp traders tend to stay away from their own currency because of bias illusion.

"They mistook leverage with genius".
BillyBigNose
Jul 20 2017 at 12:27
posts 13
I am in UK and I try to avoid GBP. Sometimes I feel that I understand the currency better because I am in the UK but I am too scarred that I am overly optimistic

mlawson71
Jul 21 2017 at 13:36
posts 1487
I would generally recommend caution when trading with the GBP. I do trade EUR/GBP, but to be honest, I always feel pretty anxious about it.

kieran (snapdragon1970)
Jul 21 2017 at 16:53
posts 1945
That can be a problem when it is your own currency, that's why you have to stick to what the data is telling you ,not your own feeling, zero emotional attachment so you can trade in any direction. It is more volatile than eur/usd ,two ways to look at that ,is it opportunity or risk.

"They mistook leverage with genius".
mlawson71
Jul 22 2017 at 11:26
posts 1487
snapdragon1970 posted:
That can be a problem when it is your own currency, that's why you have to stick to what the data is telling you ,not your own feeling, zero emotional attachment so you can trade in any direction. It is more volatile than eur/usd ,two ways to look at that ,is it opportunity or risk.


Good point. That advice can be applied to pretty much anything and everything involved with Forex trading.

Imamul
Aug 13 2017 at 07:06
posts 624
We the traders should choose the currency pair which is more appropriate to the concept of trading that will be used , if you depend on scalping should choose the pair which always ensures lowest comfortable trading spreads.

mlawson71
Aug 13 2017 at 13:12
posts 1487
Imamul posted:
We the traders should choose the currency pair which is more appropriate to the concept of trading that will be used , if you depend on scalping should choose the pair which always ensures lowest comfortable trading spreads.


That pair is usually EUR/USD. It's volatility also makes it suitable for scalping.

argreen
Aug 13 2017 at 18:14
posts 48
Most volatile are least predictable.Based on historical data I favor AUDCAD and EURSEK.

What goes up, must go down
mlawson71
Aug 22 2017 at 13:40
posts 1487
argreen posted:
Most volatile are least predictable.Based on historical data I favor AUDCAD and EURSEK.


Why EURSEK, if I may ask?

Samuel Bonokwane (SammyB)
Aug 22 2017 at 14:59
posts 15
argreen posted:
Most volatile are least predictable.Based on historical data I favor AUDCAD and EURSEK.


When I look at 4hr charts I fully agree with you that it is easy to predict the pattern of AUDCAD. But it is diffucult to predict EURSEK

Simplicity is the ultimate sophistication
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