How to choose the best pair to trade?

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Hi guys,

How to choose the best currency in trading and what are the basis for choosing?

 

It entirely depends on the style, system or what one expects from trading forex. Some trade just one symbol. Some others trade baskets of symbols. Some trade just high volatility symbols. Some are choosing just low volatility symbols (and market hours). There are literally unlimited criteria how one can choose

Melle:
Hi guys, How to choose the best currency in trading and what are the basis for choosing?
 

The pair in which you do practice becomes easy for you .You can find its trend and best time for trade. I try mostly on major currency pairs .They are good for trading because they move all the time . I collect some pips daily from them.

 

There is no such thing as the best currency pair to trade. It all depends on your analysis and type of trader you are (or are not in most cases).

 

If we have a good and robust system which is based on technical analysis, it shall works in all pairs (except those with extremely low liquidity). Even though it may works in all pairs, we shall always beware of the correlation between each others.

If you are intraday trader or scalpers, EUR/USD may be the best since it has the highest liquidity with lowest spread. If you are swing and long term trader and trade base on technical analysis, there's no need to find the best pair, any pair shall work.

 

Best pairs:

EUR/USD

GBP/USD

AUD/USD

2nd Tier

USD/CHF

USD/CAD

EUR/GBP

USD/JPY

EUR/JPY*

 

It's a bit of a personal preference thing. Also depends on your overall trading plan. Personally I like USDJPY, EURUSD & EURAUD. They move a lot and are quite trendy. That's all I need.

 

To me these pairs are the best pairs in Forex trade:

1. USD/EUR

2. AUD/USD

3. NZD/USD

4. GBP/USD

 

You should learn more about it from your broker resource. Some broker offering that. You should just find to learn.

 

Before trading with any pair it is important that trader should analyze it well so that trader will be able to generate the reasonable profit from the pair.

 

At present one of the best pairs to trade is AUD/USD. Over the last fortnight I, and a number of others, have taken four successful trades with this pair.

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