currency pair recommendations

[St.Sarah]

hi everyone,

What currency pairs would recommend to start with as a beginner?

thanks

 

[Rhody Trader]

EUR/USD is the most heavily traded. It tends to have the tightest spread, which is good. Among the majors, though, any of the pairs is workable. It generally comes down to trading style as to which best suits.

 

[St.Sarah]

About the majors - I was advised to avoid GBP/USD while i'm getting started as it might be expensive on the losing side...

What do you think of it? Can it be true or the author has very subjective opinion?

Thanks

 

[Rhody Trader]

GBP/USD does have a history of being a very choppy pair, though perhaps less so these days. As I said before, it comes down to personal trading style.

 

[420.trader]

I still don't look at the GBP/USD for the reasons listed above.

I started with the AUD/USD. The spreads aren't as good as the EUR/USD but the moves aren't as violent. I enjoy trading the AUD/USD the most still. I'd focus on one currency pair first if you are new to forex trading.

The EUR/USD is a nice pair also, but it moves more than the AUD/USD as it has much more volume. The spreads are tighter, probably the tightest out of all the currencies.

I enjoy trading the USD/JPY as well.


On a side note: although I don't trade the GBP/USD I would really like to trade the GBP/JPY. I haven't made any trades in it yet but I have started to look at the charts lately.

 

[Black Swan]

Cable can be a nuisance lately on any time frame, this week rumours of rate rise, dampened by unemployment figures, and Merv's coded statement in his report that folk shouldn't be pencilling in a rate rise for the next 2 quarters +, haven't *helped*, added to the 0.5% neg 'growth' figs of a fortnight ago it all made for a bad mix..

I'd agree with the poster above and most of the comments so far, the Aussie is a relatively stable pair, generally a couple of pips spread, however, it often moves at witching hour times so you may want to think about that. If I was at the start of my FX learning curve again I'd just trade one pair, the Euro, off a 1-2hr TF for approx. 6 months, using the stop as the HH or LL of the session or the previous session. See how you get on with that.

As for other gbp pairs I swing trade it v the swissy, the yen and just gone back to trading it v the euro, have had better results past 12 months with these pairs than v the usd...

 

[Pazienza]

Cable can be a nuisance lately on any time frame, this week rumours of rate rise, dampened by unemployment figures, and Merv's coded statement in his report that folk shouldn't be pencilling in a rate rise for the next 2 quarters +, haven't *helped*, added to the 0.5% neg 'growth' figs of a fortnight ago it all made for a bad mix..

Wow, Paul Mitty, you seem to know so much about economicals and that. And you talk so casually, using lots of abbrevs, you must be a right good traderer. I'm well impressed me...:clap:

If I was at the start of my FX learning curve again...

WTF are you talking about? You ARE at the start of your learning curve!

As for other gbp pairs I swing trade it v the swissy, the yen and just gone back to trading it v the euro, have had better results past 12 months with these pairs than v the usd...

No you don't Walter. :cheesy::clap:

Watch as many pairs as you can - there are around 30 or so that are perfectly viable. I'd also watch indices, major commodities, and large, liquid stocks. Be patient, perfect a couple of simple set ups, and you will do well. If you learn how to trade, the major markets are essentially the same.

Or you could listen to Walter BS Mitty, hanging around trading forums trying desperately to convince people that you've got the first clue what you're talking about.

 

[420.trader]

DEEZ BITCHES DON KNO SHlT NA MEAN?!

IMA REAL TRADER NOT A WANNABE PUNK BITCH LIK DA REST OF DEEZ HOES! WORD UP!!l!

TRILLEST TRADER EVA, SIGNIN OUT BIYATCH!l!!

 

[Pazienza]

DEEZ BITCHES DON KNO SHlT NA MEAN?!

IMA REAL TRADER NOT A WANNABE PUNK BITCH LIK DA REST OF DEEZ HOES! WORD UP!!l!

TRILLEST TRADER EVA, SIGNIN OUT BIYATCH!l!!

Gaylord.

 

[420.trader]

Gaylord.

Take it easy, Jimmy.

 

[Pazienza]

Take it easy, Jimmy.

Sex criminal.

 

[420.trader]

Sex criminal.

AYYYYYYYYYYYYYYYYYYYYYYY!!!!l!l!l!l!!!!

 

[Pazienza]

AYYYYYYYYYYYYYYYYYYYYYYY!!!!l!l!l!l!!!!

You is a batty boy.

 

[420.trader]

You is a batty boy.

NONE SO IN BABYLON, CHICHIBOY

 

[Pazienza]

Lulz

 

[420.trader]

Lulz

it's what i did it for...

 

[Pazienza]

 

[420.trader]

why else?

 

[St.Sarah]

Cable can be a nuisance lately on any time frame, this week rumours of rate rise, dampened by unemployment figures, and Merv's coded statement in his report that folk shouldn't be pencilling in a rate rise for the next 2 quarters +, haven't *helped*, added to the 0.5% neg 'growth' figs of a fortnight ago it all made for a bad mix..

I'd agree with the poster above and most of the comments so far, the Aussie is a relatively stable pair, generally a couple of pips spread, however, it often moves at witching hour times so you may want to think about that. If I was at the start of my FX learning curve again I'd just trade one pair, the Euro, off a 1-2hr TF for approx. 6 months, using the stop as the HH or LL of the session or the previous session. See how you get on with that.

As for other gbp pairs I swing trade it v the swissy, the yen and just gone back to trading it v the euro, have had better results past 12 months with these pairs than v the usd...

I am sorry, what are HH or LL of the session? ... i am very beginner