Hi all,
Hope you have great trading!
In my opinion best pairs to exchange with are
EUR/USD
GBP/USD
AUD/USD
JPY/USD
Hi all,
Hope you have great trading!
In my opinion best pairs to exchange with are
EUR/USD
GBP/USD
AUD/USD
JPY/USD
The ideal asset depends on the time and date and of course the situation of this country itself, the majority of the time I trade with USD GBP or EUR pairs, simply pay attention to not trade during the interest rate statements.
Additionally, attempt to open up to other resources rather than just currency pairs, commodities by way of instance are one of the safest resources about (less for daily trading though).
I believe it's better adhere to one of those majors and working your way step by step... While you are learning-the less attractions you've got the better.
I believe it is a good idea to keep one's options open and if trading on a single pair is not functioning to test on another, but on the other hand every pair has its own behavior and learning that behavior requires some time. Hopping from one pair to the next all of the time isn't easy.
Any pair can be best for you in the event that you understand its real prediction by more practice. I depend on EUR/USD that is why in demo trading I always practice it to see the performance how it works. This approach always helps me to prevent unfortunate risk when trading in dwell.
There's no best pair to exchange - only pairs suited to particular egies or methods of trading.
Best pairs to trade short term-
GBP/USD
EUR/USD
Would prefer CABLE or even FIBER daily ranges are somewhat bigger.
Swing Trades
AUD/USD
USD/CAD
USD/CHF
NZD/USD
Smaller daily ranges. The only time I'd touch these intraday would be to some data or rate decisions.
USD/JPY
This is a difficult one especially if you're starting out you want to avoid this pair like the plague. In case you need to trade Asia stick with AUD/JPY (long only).
My two cents on trading cross pairs. Yes, they can be hugely profitable. But, spread alone is prohibitive. Not mention that the liquidity spikes you will see on data and about rollover. If you just trade CABLE and FIBER you are able to make lots of cash.
My two favorites are both eurgbp and eurchf. Maximum success rate and $ value. It´s actually how great it is possible to translate a pair. Some trade the eurusd well since they understand the pair, others fails in his but succeed with other pairs. Experience is the key.
There is not any special best pair. It changes by person to person. For many traders EURUSD is your best. For some it's the EURJPY. For some it may be any exotic pairs. You need to find out that your pair. Every pair has its own characteristics. For me personally I enjoy GBPUSD. You need to set some efforts to discover the best pair for you.