Bradley88 posted: I will be live trading soon and have four-month experience in demo trading, would like to know which currency pair would be best for a beginner to trade?
When you are just starting out then going simple is the best. Do start with USD/EUR, AUD/EUR, and other common pairs which are the most liquid pairs.
There is no hard and fast rule that you can start with only these sets of forex pairs. I don’t think the distinction between the novice and advanced brokers exist on the basis of the skill. A person who has been demo trading for the past 6 months as an example is already much more learned than a beginner who has started real trading after not so much learning.
I absolutely agree with you Jamesmaxwell, if you know what you are doing then you can do anything. There is nothing that can stop you from making profits. Exotic pairs to leverage trades to options you can do anything; only you can stop yourself. Build confidence, there are an endless number of brokers in the market like IB, Fxview,etc. If I want to write the list will never end but it is your experience and confidence which will lead you in trading. BUT at the same time, it takes years to develop strategies that can work profitably for trading exotic pairs. To understand how markets function, liquid pairs are better.
It is better to go with some strong currency pairs and you can even trade different pairs at a time. The major pairs which I like to trade include, EUR/USD, USD/CAD, USD/JPY, GBP/USD, etc. A lot depends on the market conditions.
Actually, as far as I concerned, there are no best currency pairs for trading. There are only those which can help you to generate money. They vary from day to day, and of course, they vary from the current situation on the market. For example, if you see that news about jpy was released, you probably can think about how this news affect currency pair usd/jpy. Here you make conclusions and decide whether it's a good time to trade this pair or not. Every currency pair can possibly bring you money and experience, it depends on the time when you enter the market.
maria_taylor posted: Which is the best currency pair for trading and in how many pairs you trade generally?
I believe it depends on your own trading experience, such as I get my maximum success ratio on EURUSD trading pair, so for me EURUSD is the best one! On the other hand, I have the lowest performance on Gold; so Gold the worst trading pair for me, but your story will be different for sure!
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.