Jump to content

How To Choose Your Best Pair


Recommended Posts

in forex trading we need to choose a pair that we understand well its characteristics so that we will be able to pair that makes us comfortable to trade with a maximum

Link to comment
Share on other sites

Personally, I always want to trade I major currencies. Because, it’s very boring to trade in non-popular trading pair and also have another problem this is high trading spreads. On the other hand, I get only one pip trading spreads for all major currencies from regulated trading platform 'GCI' that inspire me very much for using scalping strategy. Actually, I always open my trade after doing marker analysis. I am very active to find a good entry point according to currencies co-relation. Therefore, now easily I can earn huge money around the month. I never open my trade without making my analysis. Personally, EUR/USD, GOLD and GBP/JPY is my favorite trading pair.

Link to comment
Share on other sites

I don’t really understand why we want to trade in few pairs? If we have the general idea of doing analysis and doing trading according to a plan than does it really matter which currency pair we are trading on since we will be able to make good returns out of it, so that is what matters the most in my view.

I currently trade with OctaFX broker and they have so many pairs with mostly having 0.2 pips spread so I select any pair and start trading with them and yet I get pretty decent results, so that is how we should go with good knowledge which will allow us to trade in almost any currency pair we wish to.

Link to comment
Share on other sites

for newbie I think we need to choose a pair that makes us comfortable for trading. like a pair that has a rapid movement as EUR / USD or GBP / USD. so the profit that we can get quickly

Link to comment
Share on other sites

There is nothing like choosing, it is obvious that an amateur would trade mainly on Eur/Usd and I am not saying from personal experience but the overall search. I select pair depending on the way I trade with them. If I do scalping then I select Eur/Jpy or pairs connecting Japanese Yen, it is a fast movement pair so suitable for scalping and for longer period trade it is Eur/Usd that’s most suitable with their steady speed of movement that occurs.

Link to comment
Share on other sites

  • 2 weeks later...

Some days ago I trade in gold pair devoid of having accurate trading skill. Then I fall a great loss and almost lost my whole balance due to having its very fast movement. I taught a good lesion that I did. Therefore, there is a lot of pair in my trading platform ‘ProfiForex’ but now I am willing to trade in EURO/USD. Because, its faction too much unhurried to understand it. But I can trade all major currencies in this platform.

Link to comment
Share on other sites

There is nothing like choosing, it is obvious that an amateur would trade mainly on Eur/Usd and I am not saying from personal experience but the overall search. I select pair depending on the way I trade with them. If I do scalping then I select Eur/Jpy or pairs connecting Japanese Yen, it is a fast movement pair so suitable for scalping and for longer period trade it is Eur/Usd that’s most suitable with their steady speed of movement that occurs.

Try to use demo account first if we are still new to do new strategy. Scalping, long term, etc, we must know that we need to familiarize ourselves with it. Do not forget to more improve skills from time to time. Try to learn from experience.

"Invite your friend, get $10 and win $5,000"

Link to comment
Share on other sites

I go along with everyone pairs, mostly with major EURUSD is the most widely traded pair, and therefore it carries the highest volume of all currency pairs, this also means it is the most liquid, which is another reason I prefer it over its correlated counter-parts. The EURUSD makes up about 27% of forex trading volume, next is the USDJPY at 13%, followed by the GBPUSD at 12% of the total forex trading volume. and my ECN with Tickmill equipped with competitive transaction cost, USD 3.80 per USD 100k traded (round-turn).

Link to comment
Share on other sites

I go along with everyone pairs, mostly with major EURUSD is the most widely traded pair, and therefore it carries the highest volume of all currency pairs, this also means it is the most liquid, which is another reason I prefer it over its correlated counter-parts. The EURUSD makes up about 27% of forex trading volume, next is the USDJPY at 13%, followed by the GBPUSD at 12% of the total forex trading volume. and my ECN with Tickmill equipped with competitive transaction cost, USD 3.80 per USD 100k traded (round-turn).

Yes, even i also use this pair every i trade. But any pair we will use for trading, we must try to use it in demo account first. We can understand the characteristic of pairs which we use for trading

Link to comment
Share on other sites









we can use a demo account to choose a pair that will be used for trading. With the demo account then we will be able to learn to understand the characteristics of a pair that will be used for trading

Link to comment
Share on other sites

In point of fact, there are various types of currency in Forex trading. Here traders are capable to trade in any currency pair. Pairs are categories by their strengthen ,so pragmatically all pairs value cannot same at all. Concerning this issue, I think EURUSD is the most reliable and prominent pair in whole Forex market place. It is most usable trading pair especially the newcomer due to having its slow motion. By the way, in my trading broker MxTrade is most well-known for having many strong and valuable currencies. Almost 50 up currencies here are available. So my trading performance is increasing very rapidly. And I am able to trade in these trading currency pair with competitive low spread that’s why it is possible by me to bring profit in a short time with easily.

Link to comment
Share on other sites

  • 1 month later...

When it comes to best pairs then we should look at level of comfort according to our capital because if it’s small then it suits Eur/Usd more but if it’s more than we can look at other pairs. Eur/Usd is also my personal favorite and trading that with OctaFX brokers makes it a sweet combination thanks to their low spread of just 0.2 pips and smooth trading platform where I never get the trade into requote mode but it’s accepted instantly.

Link to comment
Share on other sites

Margin and leverage is very important for traders to make trades. Now I use the leverage of 1: 500 in TICKMILL using 0:05 lot every trading by using the pair EUR/USD. using the facilities Calculators & FX Quotes, I get a margin 10$ and pip value 0.45$. With the condition spreads as low as 0 makes me comfortable to gain profit in TICKMILL
Link to comment
Share on other sites

Guest gaban

choose the best pair is to try to choose a pair of the most widely used by traders as the pair EUR / USD, or GBP / USD. The second pair is a major pair that has a rapid movement

Link to comment
Share on other sites

Ever since starting trading I have been taught to try out EUR/USD pair as this is most stable one and I really did not want to change anything given that I am trading with such a wonderful broker like Nova FX, it has just 1.5 pips spread for this pair so I always prefer to stick to this and have been making great profits while also their high quality platform is another major advantage that we get by trading with them.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • 👍 Join TopGold.Forum Now

    We Connect  Money Makers With TOP Earning Opportunities!

    Join over 25,000 members and 700 businesses on their journey to strike GOLD. 💰🍾👍

    👩 Want to make money online? 
    💼 Represent a company? 

⤴️-Paid Ad- TGF approve this banner. Add your banner here.🔥

×
×
  • Create New...