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How to select the Best Currency Pair for Investment?

kieran (snapdragon1970)
Jul 19 2017 at 18:15
1945 postów
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
13 postów
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
1487 postów
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
1945 postów
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
1487 postów
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
680 postów
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
1487 postów
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
48 postów
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
1487 postów
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
15 postów
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
Mohammadi
Aug 23 2017 at 06:54
886 postów
Newcomers should choose the currency pair which is more appropriate to the concept of trading that will be used.

Imamul
Aug 24 2017 at 13:52
680 postów
EUR/USD is the most profitable pair than other majors in my trading career. But as a newcomer I got confused because of its volatile trading spreads. But now I know how to keep pace with eur/usd.

mlawson71
Aug 25 2017 at 13:38
1487 postów
Imamul posted:
EUR/USD is the most profitable pair than other majors in my trading career. But as a newcomer I got confused because of its volatile trading spreads. But now I know how to keep pace with eur/usd.


How do you keep pace with the pair? Do you scalp?

Mohammadi
Aug 27 2017 at 06:24
886 postów
If you are a newcomer, I think you have to remove the tendency for earning money from here, and have to focus on just learning. Otherwise you can fall a great loss when you will try to earn money by trading.

Mohammadi
Aug 27 2017 at 06:25
886 postów
Because of comfortable trading spreads I like most EUR/USD from all other major pairs. But I am not willing do depend on completely just one currency. For that reason in my demo account I usually trade all major currency pair to see the performance how it works. This approach always helps me for increasing my trading performance very rapidly.

Admoni
Aug 28 2017 at 06:19
95 postów
According to me, frequently the most traded eight currency pairs have the largest liquidity and they are the most preferred trading pairs. As liquidity decreases spread increases. This enables only swing and medium term traders to trade successfully in the market. It is very difficult to do intraday or day trading in such pairs. Also, these crosses become volatile only when there is major news related to the base currency. Thus, a trader should also know about currency correlation before trading such Forex pairs.

mlawson71
Aug 28 2017 at 13:18
1487 postów
Mohammadi posted:
Because of comfortable trading spreads I like most EUR/USD from all other major pairs. But I am not willing do depend on completely just one currency. For that reason in my demo account I usually trade all major currency pair to see the performance how it works. This approach always helps me for increasing my trading performance very rapidly.


Why do you like EUR/USD the most? The low spreads? The volatility?

JamesAnderson
Sep 17 2018 at 08:17
31 postów
TanEric posted:
Can anyone help me in knowing the best currency pairs for trading in the forex market? I am dilemma please help me or share any link which could help me in knowing that.


Hi @TanEric

You can easily choose the best currency pair

- Start the discussion on active forums
- Join groups and communities in social media put you query
- Start Polls in Social Media
- Read discussions about the related question in forex forums

Forexstress
Sep 18 2018 at 10:45
11 postów
There are some websites that have currency pair heat maps. You can see which currencies are strenghening and which are weakening. You can then trade the strongest against the weakest and these should trend nicely.

lucyroberts123
Sep 25 2018 at 08:01
6 postów
There are many cryptocurrency pairs available in the market. You can selrct it as per their market price which leads to profit.

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