maria_taylor posted: Which is the best currency pair for trading and in how many pairs you trade generally?
You must know which are the strongest and weakest currencies before you even go to your charts, if you're trading long term, you look for the fundamentals, if you're day trading, you look for the sentiment.
There are the MAJOR currency Forex pairs that are paired with the U.S. Dollars which are known as the best currency pairs for trading. • GBP/USD • EUR/USD • NZD/USD • AUD/USD • XAU/USD • XAG/USD Gold and Silver is also included in this list since they are quoted in U.S. Dollars and are traded regularly.
according to me, all currencies in Forex trading are good, just we have to experience with them by trading . We can trade all major currency in our demo account. Because we can see here the pairs performance how it works.
I may suggest trading USD/GBP, especially if you know English only. It's hard to trade currencies if you don't know country's language, as you will get all news with delay. It's also good trade local currencies, like NZD or AUD, but you need to pay a lot of time to analyze trends :)
It is always more profitable to trade instruments that have a narrow spread. The narrower it is, the fewer points between the divergence price and the demand price, which means there is less loss for the trader when closing a deal