Best pair to trade ?

[Gracy2]

I like usd pairs, mostly EURUSD and GBPUSD

Yes, even for me eurusd works well, because it is not as risky and uncertain like other pairs. Liquidity is the main reason for me to choose eurusd.

 

[harry4cable]

I prefer the cable over euro for the last 20 year plus, i am still with cable only .over all volatility gbp is grater then euro especially 2008 ,2009 ,the non farm payrolls day 100-300pip within few minutes movement easy. those day is gone

 

[harry4cable]

yes trading is very hard and not suitable for most of people,

1. You need knowledge of the market, the instrument you put real money on

2. Sufficient working capital and back up funds based on your trading size that won't affect your daily life even if you make a loss

3. In terms of stop loss, I have been hunted countless of times, that is part of the business.
There is a company called Boston Technolery before with a plug in on MT4 and other firms or brokers all have a similar plug in. There is no way to avoid it.

4. I think with stop loss, you need to work out the overall percentage of the instrument you trade on with your size, then from there you can decide what to do with the stop loss.
Eg. gbp usd currelt 1.287 20pips stop =0.15 % 50 pips 0.47% of the movement

5. Trading on the turning point is the key. to be the first or second customer on board. It requires detailed knowledge of the market.

6. You will not make big money if the market has little or no movement

7. Do not be over confident that you will make money in very short time as it is a business

 

[Zerologic]

I prefer challenging pairs such as XAUUSD, EURJPY, and GBPJPY, but I will also pay attention to market patterns in several pairs and choose the pattern that might provide the best opportunity for profit. Forex pair for beginners most recommended is EURUD, low spread good average movement.

 

[tr1ps_master]

Trading the right instrument for you is like finding a partner, damn tough and a long road - but a worthwhile venture.

What you 'like' and what your brain is 'good' at reading are two different things. For example you may like the fast paced nature of GBPJPY but your brain just isn't good at reading that market...that is fine. The goal here is to make money in the most effective way possible for you (not what is easier for someone else).

The number of markets you trade should also be dictated by your trading approach. Day trading - 1 to 3 pairs max, get to know the markets.
Swing trading - you can have a watchlist as long as your arm, just remember about correlation, i.e. EURAUD and GBPAUD may give the same signals so taking trades in both will mean effectively doubling up on your position, not something I recommend.

At the beginning if you want to day trade - super difficult - but start with GBPUSD (slow) / GBPJPY (fast) and Gold (can be both). You will see what you like and are good at.

At the beginning if you want to swing trade - much more recommended - start with 6 pairs - some majors and some crosses. No need to confuse your brain with 20 charts straight away. I would recommend EURUSD / GBPUSD / USDCAD / GBPAUD / GBPJPY / GBPCHF. After 1 month I would add 2/3 more pairs.

 

[retired]

If only one pair is to be chosen, it will be EURJPY without exception. Because EUR is to the left of all pairs and JPY is to the right of all pairs. This is the strongest pair that determines 44% of the market trend.
If you determine the second pair, you determine the trend of the market by 75% and this is the key to the profit.

 

[tomorton]

If only one pair is to be chosen, it will be EURJPY without exception. Because EUR is to the left of all pairs and JPY is to the right of all pairs. This is the strongest pair that determines 44% of the market trend.
If you determine the second pair, you determine the trend of the market by 75% and this is the key to the profit.

It sounds like you have done a deal of research into this question. Would you want to share some more of your evidence?

 

[retired]

For about 25 years. The 4 images below provide much clearer information for understanding the forex market than years of effort. The market is built on 8 major currencies. Their daily fluctuations always sum to zero. These 8 major currencies create 28 currency pairs. And these pairs are arranged according to a rule. The euro must always be on the left, while the dollar is positioned 3 to the left and 4 to the right, as per the rules of zero. With this analysis table, you can understand the flow of the market by simply following the money. In a currency pair chart, there are 2 currencies. However, one currency has a stake in 7 pairs. If you analyze a single pair with a chart, your maximum ratio is 1/7. It is not true that a pair simply goes up or down. The 4 images illustrate the importance of viewing forex through mathematics and following the money. For years, the same notions based on the dream of quick wealth circulated in forums. A revered indicator that does not repaint was sought after. But this is a business.

 

[Zerologic]

Interesting analysis, but it seems more complicated than I thought, besides major currencies there are also exotic currencies even though traders rarely choose them, so far I thought that the factors driving currency prices were influenced by demand and supply, which may have other drivers such as economic news, politics and so on.

 

[ph_trader]

exotics are okay if you have enough info regarding them and maybe if you have spent enough time to study their tendencies.

 

[Zerologic]

exotics are okay if you have enough info regarding them and maybe if you have spent enough time to study their tendencies.

I once tried trading the exotic pair EURTRY at FXOpen, the first time I traded big profits, but the second time I made big losses, and now I no longer choose exotic pairs.

 

[retired]

The actual trend parity is 16.

 

[retired]

Forex is the battle between green currencies and red currencies. The market shapes itself accordingly. There are 16 pairs that align with this. Sometimes, the actions of players on the same team can lead to movements in the market that are unrelated.

In its simplest form, if money is coming out from the green team, you will make a profit by selling a total of 16 pairs.

 

[Zerologic]

I've heard of a trading strategy called a basket trading strategy that utilizes the correlation between prices in many pairs, maybe 16 pairs with each having a negative correlation, when one group tends to rise, the other group tends to fall, and traders take advantage of this anomaly to find profit opportunities. But I've never tried it, I think it requires quite a large margin and is quite confusing.

 

[tomorton]

A technique I use is a simple and objective way to determine the comparative strengths of the 8 major currencies. It is purely visual and takes only a few minutes per day.

Look at the daily price charts for the 28 key pairs involving the 8 major currencies. Apply the 50EMA to these charts. For each chart simply note whether price is above or below the 50EMA. If it is above, that is 1 bullish point for the base currency and 1 bearish point for the counter currency: if it is below, that is 1 bearish point for the base currency but 1 bullish point for the counter currency. Each currency is a member of 7 pairs, either as base currency or counter currency. Therefore you will find a bullish v's bearish points score per currency of as much as 7 or as low as 0. At that point you will know that if you wish to follow recent price action, you should be buying the pair which has a score of 7-0, and shorting the pair which has a score of 0-7.

 

[Alchemist254]

Crude oil spot.

 

[Zerologic]

A technique I use is a simple and objective way to determine the comparative strengths of the 8 major currencies. It is purely visual and takes only a few minutes per day.

Look at the daily price charts for the 28 key pairs involving the 8 major currencies. Apply the 50EMA to these charts. For each chart simply note whether price is above or below the 50EMA. If it is above, that is 1 bullish point for the base currency and 1 bearish point for the counter currency: if it is below, that is 1 bearish point for the base currency but 1 bullish point for the counter currency. Each currency is a member of 7 pairs, either as base currency or counter currency. Therefore you will find a bullish v's bearish points score per currency of as much as 7 or as low as 0. At that point you will know that if you wish to follow recent price action, you should be buying the pair which has a score of 7-0, and shorting the pair which has a score of 0-7.

This means we open 28 pairs at once, maybe this would be easier if there was an indicator board that could show it on one chart.