In today’s post i will talk about the Best currency pairs for Forex Trading.I know some senior traders already knows what what currency pairs are best to trade. but this post is for beginners Traders.
Which currency pairs are best to trade traders always ask this question a lot on forums and discussion boards, But unfortunately many unprofessional peoples always misguide the traders by their answers.
Traders will choose currency pairs depending on their trading style. if you like day trading, then you have to stick with one single currency pair without any option.
As a day trader, you will have less time to focus on the frame, and then take your positions will not last more than a few hours. Therefore, you will not be able to catch big movements, and you have a low spread and the liquidity of a currency pair to trade. EUR/USD currency pairs all have the lowest spread. The day traders are the most favorite currency pair. However, if the GBP/USD or USD/JPY can trade.
GBP/JPY is loved by many day traders is that the currency pair. Its spread to other major currency pairs is more than usually, but as it turns into a large, high growth can be a problem though. Day trading is a good pair. EUR / JPY also day traders have a favorite currency pair.
All you want to become a day trader then select the currency pair is about. A businessman wants to become a day trader is not a problem if the currency pair. The main problem is the day to trade. We already talked about it on forexustaad.com .You refer to these articles and you want to become a day trader can think. Here I can only tell you one thing. I also have never seen consistently profitable day trader. A thousand day traders can make profit for some times, but none of them can become regularly profitable. Here are a couple of articles on the topic:
If you want to become a swing trader, you will be limited to any particular currency pair is not required. Daily, weekly and monthly, the long time frame to trade, and for several days or even weeks, you will need to hold the position. Each day, the long time frame you set up a business are not going to find, then you have to check every day several currency pairs.
As a swing trader you have to take into consideration only thing you are not liquid enough and their spread is generally very high and unstable, because, foreign currency pairs had better forget about is. You can trade as a swing trader regular There are a number of currency pairs, simply because the aliens do not need to trade currency pairs.
What is the best way?
Forexustaad.com here, we candlestick patterns and Bollinger bands, which is based on a trading system. Sometimes we find we set up trades and strength to support the validity of the use of technical analysis. This trading system was not invented by us. Indeed, for decades by professionals and experienced traders have been used. We safest and easiest way possible, have learned how to use it. It has been working for us for years and we are very happy with it.
The main advantage of this system is robust and reliable, and also simple and very much easy to use. We have made it as simple as possible. Trading in the long time frame we might be beneficial in the long run, have learned that. Therefore, several currency pairs each day to check out the long time frame using their trading systems. We have daily, weekly and monthly charts to trade. Your daily candlestick is closed and the new one is opened once a day every day of the inspection is the limit. Weekly time frame monthly candlestick opens every weekend at the end of each month, and monthly time limit is to be checked.
More than 20 currency pairs to check out the daily time frame we do not take more than 30 minutes. Here you have to follow our trading system as a swing trader can trade is the best currency pairs:
EUR/USD , GBP/USD , USD/CHF , USD/JPY , GBP/JPY , EUR/JPY , USD/CAD , AUD/USD , NZD/USD , GBP/AUD , GBP/CAD , AUD/JPY , NZD/JPY , CAD/CHF , CAD/JPY , GBP/CHF , EUR/AUD , EUR/CAD , CHF/JPY , AUD/CAD , AUD/CHF , NZD/CHF , EUR/GBP , Gold.
Some of the top currency pairs in the trade was not used, but some of forexustaad.com followers asked me to analyze them, they are now included in our platform.
You become a consistently profitable Forex trader is serious, there is only one way to do it. We are following the professional traders have thousands. Spend some time and you are new to Forex or you have been trading for a long time, so this system, there is nothing to read about. It is risk free: 5 simple steps to become a profitable Forex Trader