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.
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