Choosing a pair

Choosing a pair is one of important part in trading. every pair have different movement form and to study a pair maybe will consume a lot of time. so a trader should not jump to another pair when they still not understand the habit of previous pair.

It's true that every pair has their level of movement on daily basis yes that is true and they also have time which we suppose to trade and get the very best out of the market.

It is very important to choose a pair. I think EURUSD is the best pair to trade.

Go for the more liquid pairs and trade in them. Use your backtested strategy and you’ll earn good.

Major pairs are best to trade especially for new traders in my opinion.

Michihito posted:
Choosing a pair is one of important part in trading. every pair have different movement form and to study a pair maybe will consume a lot of time. so a trader should not jump to another pair when they still not understand the habit of previous pair.

just go through the chart of the pair and analyse it completely and check for the trend it is following.. and you will gradually understand things moving forward.

Trade majors and stay away from exotics.

I prefer trading with the EURUSD currency pair because it is widely used in the market and stable compared to other major currency pairs.

Major pairs are more volatile than other pair. New traders should not use other than major pairs.

78678676 posted:
Trade majors and stay away from exotics.

and why you suggesting to stay away from exotics?

we should choose the pair which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the pair which has most lowest trading spreads.

I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.

UweMoench posted:
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.

yeah major all the way

Choose a suitable pair according to your time frame because every pair has a level of movements daily, and using the correct time frame can give a trader the very best opportunity to profit from the market.

EUR/USD is my favourite pair and I am glued to this pair only since long.

from all trading pair i like most major , because its safe and sounds to me than others.

LyudmilLukanov posted:
Major pairs are best to trade especially for new traders in my opinion.

Completely agree. :)

To be honest, it was quite difficult to choose certain pairs for trading, because each pair has its own peculiarity.

Most newbie traders usually trade a lot of pairs but to me that's not an ideal way to trade. Every currency pair has its own movement patterns. If one can understand that it becomes easier to trade. So it good to choose few pairs.