Let me just start this post with the following disclaimer:
This is opinion only! This subject is largely a matter of personal preference. So take it for what it’s worth, and by all means, keep doing what’s working for you.
When first learning to trade Forex, you should focus on the best Forex pairs for trading. By best, we mean those pairs that are widely traded, have the most liquid markets and have sufficient price movements (or, volatility) to be worth trading. The following pairs are consistently recommended as best for trading in the Forex markets for meeting these requirements:
- EUR/USD (Euro/US Dollar)
- GBP/USD (British Pound/US Dollar)
- USD/JPY (US Dollar/Japanese Yen)
- USD/CHF (US Dollar/Swiss Franc)
- USD/CAD (US Dollar/Canadian Dollar)
- AUS/USD (Australian Dollar/US Dollar)
By limiting yourself to these pairs you can: reduce the amount of time spent searching for potential trades; locate stronger and better trends developing among fewer pairs; and, make it easier to get into and out of a trade quickly.
You can go a step further, as well, and limit yourself to the two most liquid and widely traded pairs: EUR/USD and GBP/USD.
Related posts:
- Learning to trade Forex – Learn To Trade It THIS way… Our research and surveys have confirmed too many new, inexperienced forex...
