Your favorite trading pairs!!!

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HeeraThakur

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Hey guys what are youre favorite trading pairs and why? :) I want to focus on a few charts where I can follow my chartings for some months. Currently watching EUR/USD GBP/USD EUR/JPY obviously I trade them because I live in EU timezone, also I like the way the candles go in impulsive zones at the mentioned charts and beeing a part of a economic gigantic battle between big sharks and us the small fishes arround is cool :p
 
my fav are gbpjpy & usdcad, they're always volatile good to pick up pips here and there.
 
My fav pairs are the ones showing obvious trend activity.
So much easier to forecast for a profit.
 
doodz said:
my fav are gbpjpy & usdcad, they're always volatile good to pick up pips here and there.
Click to expand...


the GBPJPY is The dude for action..........combines 2 of the mot serious volaile currencies in the G8

CADs not too bad either ......us session best for that critter to flame on......
 
HeeraThakur said:
Hey guys what are youre favorite trading pairs and why? :) I want to focus on a few charts where I can follow my chartings for some months. Currently watching EUR/USD GBP/USD EUR/JPY obviously I trade them because I live in EU timezone, also I like the way the candles go in impulsive zones at the mentioned charts and beeing a part of a economic gigantic battle between big sharks and us the small fishes arround is cool :p
Click to expand...

Well I don't have "favorite pairs" in terms of my emotional attitude to them, but I trade instruments which choice I somehow substantiated. For example, in forex my trading approach requires liquidity and volatility, that's why I trade majors. Some pairs can be characterized with some unique factor which drives their movement. For example for USDRUB it is carry trade flows vs. EM asset risks. Such information gives you additional vector of research (like factors which help to identify primary factors). This is how the notion of "favorite" is applied in my trading.
 
There are so many pairs and it's best to restrict yourself to perhaps 2 or a maximum of 4. Again this could vary according to one's temperament.

I personally follow EURUSD, GBPUSD, USDJPY and USDCAD. You should be deciding what time frame you are going to be focusing upon and go through price action for most pairs and decide what suits your personality. Which one's have smooth trends and which ones are violent?Which ones are too slow for you? You see?

IF you have already identified a method to trade then you could focus on less pairs to begin with. Once you feel confident(this is relative; you should be doing manual back testing of your method to help you develop absolute confidence in your method so that during market hours(if you intend to day trade) you don't use valuable time for analysis as much as become mechanical and simply trade your patterns/methods). As your confidence begins to go up with a series of history of wins then you can begin to focus on more pairs. Less in general is always better the way I have found it over time.

Another option for you(say you have a structure or a plan in place to do your homework or end of the day/week/month, etc analysis)is to go through all pairs and find which ones are setting up as per your method and focus only on them the next day. In other words which markets are ready to take off or ripe for exits out of congestion? Which ones might continue their trend runs? Which are the ones that might be going into a range bound mode?

Find those markets that suits your temperaement, your method and ultimately your sanity and stick with them.
Good Luck
 
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Well my favorite pair is undoubtedly EUR/USD since they are highly liquid. Apart from that , i always prefer to trade majors only like GBP/USD , USD/CAD , AUD/USD.
 
My favorite pair is XAUUSG which represents the changes of gold prices. Actually, it is a CFD on gold commodity. The main advantages of this pair are the following:
- it is quite easy to find information on fundamental factors impacting the prices,including research papers issued by financial companies,
- price patterns appearing on the chart are quite understandable since they appearance is quite close to one described in books dedicated to technical analysis. All elements of technical analysis, such as trendlines or triangles work almost great on gold charts, especially on lower timeframes,
- it is quite easy to find interesting trading opportunities since the underlying (Gold commodity futures) is traded almost the whole day.

Another important point is that you can easily find detailed historical data for many years (including even tick data)for XAUUSD to backtest strategies. The simplies way to backtest it is to use special software like Forex Tester, that would be suitable if you are not familiar with coding. The dynamic of gold prices is similar to one that was many years ago, so it is the case when past performance provides useful information.
By the way, in future, it would be possible to switch to trading gold futures (GC) if it would be necessary to increase trading volume or to be able to trade at regulated market.
 
I trade EURUSD, BTCUSD, USDJPY. Majors have liquidity and low transaction costs, crypto has volatility and more predictable from the technical point of view. We have to build trading approach to them according to their potential edges.
 
actually , traders we are choose trading pair according to our trading strategies , if you love doing scalping should choose the pair which contains most narrowest spreads, in my trading career from my first day of trading still i always like to trade only major pairs. its my habit
 
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