I am interested to know which pair is the easiest to trade. Can share your experiences?
usd/ypj is one of the 'less' difficult, but Its also risky dual sudden rallies.
usd/chf the same
gbp/usd is quite good because is very 'alive' pair, but if it starts to slide, its like it slides on the soap
eur/usd is too stable for me, but ptobably is the less sensitive to sudden rallies
Up to you
I trade only gbp/usd, usd/jpy and usd/chf
So at the best I suggest you gbp/usd, with small trades and once yu identify the trend, buy (or sell if short) on pullbacks.
It depend on what you need. If you are a new trader you'd better take Eur/USD and Brit/USD because their movement are more stable.
I also like GBPUSD. It is my favorite pair because it has nice big moves and relatively small spread.
Any pair you choose, you should establish the most corelated pairs for it and watch for the same signals (or the oposite signal - if the corelation is negative). I always check EURUSD and USDCHF before trading GBPUSD.
EURUSD tends to give the same signal and the USDCHF tends to give the oposite signal.
Due to the nature of this pair, I set my SL to 35-50pips. So, the risk/revard rule is making me to set the TP to 100-150pips.
Easy currencies are usually currencies that hold trend for a long time. GBPUSD is a beast, would be a hard beast to control for a novice, its a hard beast for even the not so novice traders. Open up the charts and look at H4 charts. See which currency goes in the same general direction the longest. You will notice that AUDUSD is pretty trendy. Now take a look at GBPJPY and tell me what you see
I agree with you on AUDUSD.....less butterflies in the stomach than when playing the Pound.
I agree. However, despite the fact that GBPJPY has the most beautiful moves, it is dangerous due to its large volatility and large spreads. These two "problems" are forcing me to trade this pair on large timeframes (mostly Daily). Just imagine if the trader is making 2-3 bad trades in a choppy day. Just the total spread loss wil be 20-30 pips.
I meant that GBPJPY is hard for beginners to trade. I think he/she shouold focus on AUDUSD and take baby steps.
But I dont think that a 4H chart can tell you which pair is easier and which pair is not.
If you look on 4H charts I guess you are making long term trades, so if aud/usd is pretty trending you could mistake complitly direction and enter when it turns round and be locked in for long time.
Personally I trade intraday, or 2 or 3 days maximum.
If you trade intraday you must choose a pair like gbp/usd, if you trade long term, you must make a deep work and know where the pair will be in the next weeks/months, and this is something really hard to predict.
The advantage of short term trading is that you can identify the daily or weekly trend and follow it, buy deep (on longs), sell high (on short).
In this way you minimize your risk
I think GBP/USD was easy enough, at least it's work for me with my project,