Currency pairs

[naxreell]

I know that in forex there many currency pairs that one can trade with but how can i find the best currency to trade?

[gaban]

currency pairs are best in my opinion is to choose the major currency pairs. because the pair have a very fast movement and has a small spread. So the risk is not great

[GregM]

As stated above trading one of the major pairs. Even better, trade a pair that contains USD as these are the most traded pairs.

Once you have a pair in mind get to know it as best you can.

Each pair has It's own characteristics and getting to know this can make a huge difference to your trading. It's all about focus until you master

[naxreell]

Thanks guys, this is why it is nice having you guys around. Richard, I believe those you mentioned on your list are the majors in the market! But please can you throw more light on your statement here "Trading with GOLD is most dangerous for newbies because you might lose big capital in short of time". I would appreciate your reply. Thanks again.

[jb1981]

There is no such thing as a 'Best currency pair' It all comes down to your personal preferences.

Let's take an example: EURUSD is a major and widely traded pair. Good liquidity so an intra-day scalper will think EURUSD is the best.

GBPAUD: Cross/minor pair. Usually makes big moves and spreads are also wider than EURUSD. But it gives positive rollover swaps for short positions. So a swing trader will find GBPAUD shorts a more rewarding trade.

If you are looking for a 'best currency pair' to trade, first figure out what it is you want.

Scalping? If yes, what times/sessions.. then look for those pairs.. Asian traders will find Yen pairs good to scalp, while London traders will find GBP pairs good to scalp.

Swing trading? If yes, figure out the pairs by spreads followed by their overnight swap rates.

Your trading strategy: Do you have enough equity and leverage to manage the range of the currency pair in question.

Hope this helps