Best currency pair for trading

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?

Hi @Bradley88, most beginners starts with the EURUSD pair as it more predictable on some sense. I prefer to stick to the majors because the spreads are low as well.

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.

jasonmark409 posted:

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.

Anyone currently trading with a better currency pair other than EURUSD? Because I'm looking to trade with two pairs simultaneously to improve my trading skills and profit.

As for me, today the most popular and relevant currency pair for trading is the Eurodollar.

for new trader ..USDJPY just BUY IF fall 500 point buy again ...again and again just wait and see you can get profit because this pair is safe heaven LOL

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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?

EURUSD is the best currency pair to trade for beginners, It is a much simple pair to trade, and it is more volatile than other pairs.'

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.

For many, probably the set of these pairs is advantageous in trading.

maria_taylor posted:
Which is the best currency pair for trading and in how many pairs you trade generally?

If you have started trading then, EURUSD is the best currency pair to begin with.

I think EUR/USD seems to be a very good pair to trade. Other than this, you can also look at USD/CAD, GBP/USD and various other major currency pairs.

hailddjs posted:
I think EUR/USD seems to be a very good pair to trade. Other than this, you can also look at USD/CAD, GBP/USD and various other major currency pairs.

I also like EURUSD.

For my trading, I like GBPUSD. EURUSD, I find a bit slow. Well everyone has their favourite pair based on different criteria. And mine is GBPUSD.

For me, it is major pair.

EURUSD and GBPUSD are my favorite trading pairs.

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.

The market is dynamic, so pairs can change quite quickly. You need to be prepared for this.