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Thread: Which Pair to trade for a beginner

  1. #1

    Which Pair to trade for a beginner

    Hello,

    I am planning to exchange intra-day, checking the news and following confirmed tendencies (at least in theory ). I would like to get really acquainted with one pair and demo it for a while before I embark at the real money stadium. Which should I concentrate on and what time of the evening is greatest. I live in Florida (est time). Your experience is appreciated.

    Thank you

  2. #2
    Quote Originally Posted by ;
    I recommend for my pupils that they start with the EURO. It's unquestionably the most liquid of those currencies. As a second option, I would advise that the CHF. Might I suggust you remain clear of this YEN until you have a little more experience under you. It can and has been manipulated by the Bank of Japan on a regular basis.
    Euro is most usable and profitable trading pair than many others majors.
    But owing to the much volatile trading spreads I feel this is not acceptable for the beginner's trader. What you think Sir relating to it?

  3. #3
    A newcomer should concentrate on Euro pairs and specially for EUR/USD is ideal to trade. Because it has motion in high degree.

  4. #4
    I enjoy Eur/USD since there's a lot of info on it and everybody uses it as an example. You can go to Peter Bain's website and he'll send you a daily update. FxStreet has some updates. Action Forex will also send you a lot of things on a dialy basis (greater than you need ) if you just ask.

  5. #5
    For newcomer I think USD JPY since it is less explosive than eur usd and acts more secure. You can read some novels about candlestick, technical analisis and it must work for you better than eur usd. In eur usd there are a lot of false extractions from the trend.

  6. #6
    I recommend to my pupils that they start with the EURO. It's unquestionably the most liquid of the currencies. As a second option, I would recommend the CHF.

    Might I suggust you remain clear of this YEN until you've got a little more experience under you. It can and has been manipulated from the Bank of Japan on a regular basis.

  7. #7
    Thank You for your recommendations.



    I am demo trading at Oanda, seems to be the best from what I have read in various forums. If anybody else comes with an evaluation of demonion site please let me know.

  8. #8
    By and massive traders in especially the newcomers always like to rely on EUR/USD due to its comfortable trading spreads. But according to me, I think all newcomers should trade other major currency pair in demo account for increasing trading performance very fast.

  9. #9
    Quote Originally Posted by ;
    A beginner should focus on Euro pairs and especially for EUR/USD is ideal to trade. Because it has motion in high degree.
    That is really because these pairs normally have a high quantity. But, EUR/USD at this time is very range-bound more often than not and that can be hard to exchange for some newbies.

  10. #10
    Major Fx trading pairs are all acceptable for the beginners! I started my demo account with just EUR/USD and USD/JPY! But right now I am active on CFDs, Indices and Metals! In addition, till today I am working on 3 more trading tools to incorporate in my live trading chart! Yes, novice traders can avoid volatile trading instrument like Gold and Silver!

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