Choosing currency pairs

[Luke Hansen]

Every trader requires choosing currency pairs carefully which will be exotic and will ensure definite income to him by means of trading of currencies. Yes, thereby every trader requires bestowing complete attention on the choice and trading of pairs that will provide him good source of income here. Again I am using major currency pairs as I observe that working and calculations with USD is easier for me when compared to other pairs.

 

[Hulas]

You still didn't explained which currency pair you are using anyway ? What is it really ? Is it something very unique or something othere ? For example have you trade with something like USD/RUB or similar pairs ? Tell us more concrete details.

 

[Electric Rainbow]

For me trading with JPY pairs in Asian session is the best because they have great movement a day and that is why we can have a good amount of profit within one or trades.

 

[Nosero]

I would disagree that new traders should choose to trade with exotics. It is much better to stick with major pairs as exotics are usually following some own way of price movement and all fundamental data are not fully available

 

[Fanaudy]

Before choosing a currency pair for trading you must have to think two things. First, what is the spread between these two currecies, and the second thing, what is the strength of the currencies in the pair. You must have to ask questions to yourself before entering a trade. Thanks!

 

[Jurlare]

You must have to choose those currency pairs about which you have enough news to get an idea most of the time when you trade. Choosing your own currency paired with the currency of friendly countries is the best option as far as I think. Stay blessed guys!

 

[Nosero]

I think that it is best for beginners to opt for eurusd, because this is a pretty valot trading tool that will help you understand how the market works.

 

[Shing1985]

I tend to choose pairs with the lowest spreads. This pretty much leaves out most that include CHF as these spreads can be anywhere from 4 or 5 to 20.

 

[RainbowRain]

I tend to choose pairs with the lowest spreads.

This is a very good decision. I also trade pairs with minimal spreads at my broker (for example, for EURUSD the spread is only 0.1-0.2 pips). This allows me to make a profit even with a small price movement when I trade scalping.

 

[Ricky Rk]

Choosing the right currency pairs is crucial for successful trading. Major pairs like those with USD are often easier due to their liquidity and lower spreads. Focusing on pairs you're comfortable with can improve your strategy.