Main Menu
Forex Brokers
Best Currency Pairs to Trade with Forex
Most of the information new traders will find in regards to trading secrets pertains to the major forex pairs and the very best times of day to trade them. Unfortunately, this information may offer some benefits, but there is not much that we teach new traders go to make money trading these specific currency pairs. As with any market, there are lead indicators that can be very useful. For short term traders, it is important to make sure trades are made in the direction of the broader markets. The best bet for any trader, new or experiences is to trade the stocks or currencies that are outperforming others in the overall market.
With the Forex market, the lead indicator that traders should focus on is the Dollar Index. This is an index that will measure the current value of the US Dollar compared to six popular foreign currencies. This can provide details as to what trades will be the best. One of the most asked questions by new traders pertains to what the best currency pairs are to trade and while there is not a definitive answer, traders can make their decision based on their own trading styles. For day traders, EUR/USD will have the lowest spread and it is the preferred option for most day traders. Other top options are GBP/USD and USD/JPY.
For those that prefer long time frames and do not enjoy day trading, there are more options that are available. The best thing to do is to analyse trends and get the latest information on any currency value changes. As a long term trader, there can be many changes in value over the term of the trade, so it can be a bit more difficult to choose which pairs are the best for trading.
New traders will often stick to the most popular, which means the EUR/USD trade will be preferred. As traders gain more experience and start to understand trends, they will see that there are multiple options and there really is no best currency pair. It will all depend on the style of the trader as well as their trading budget. Over time, new traders will come to learn what pairs will provide better chances at getting returns, but there is no cardinal rule as to what pairs to begin trading.
Forex Related Articles
There's a lot that to know when it comes to Forex trading which is why WorldForex.org will continue adding articles and new information to this website on a regular basis. Please visit us and come back to our website from time to time for the latest Forex technicals, charts and other information.
June 20, 2017
When it comes time to start trading Forex online, traders will start by selecting a broker, which will facilitate the trades being conducted. One of the great names in the business is OANDA, a pioneering brokerage that has been operating since the mid 1990s. With this broker, traders will benefit from many tools, useful tutorials and other great perks that can make trading even more exciting and rewarding. The online platform was launched in 2001 and since that time, it has been a preferred platform for traders from all over the world.
The 1 Minute Scalping Strategy
June 15, 2017
Forex traders who have experience in trading will be aware of many different strategies and techniques that can help generate successful trades and profits. One of the common strategies that is used is the 1 minute scalping strategy. In regards to the Forex market, scalping refers to method of trading specific currencies based on technical analysis. Traders will have the goal of making a profit by buying or selling while holding positions for a very limited amount of time and closing the trade to earn small profits. Most trades with the 1 minute strategy will be held for one minute or less.
June 2, 2017
When new traders make the decision to start investing online, they will have to make an important decision to begin, which is selecting a trading platform. A platform is the software that will be used to send information between the trader and their selected broker. This software can offer a large amount of information including charts and quotes and it is also used to enter orders that will be executed. There are different types of platforms, such as local platforms, which are installed on the computer by the trader and web based platforms, that are run with Java. The advantage of a web based platform is that it can be used by any operating system, so it is accessible to more traders.
May 18, 2017
Forex trading has become one of the most popular forms of investing and since it can all be done online with ease, it is simple for traders to access brokers and conduct trades at any time. While the Forex market may seem easy to enter, there are many things that must be considered before trading. There is a risk involved and traders who enter the market with little knowledge or no information on proven strategies will have a difficult time enjoying any success. Here, we discuss some strategies that have been used over the years and continue to provide traders with the tools they need to conduct successful trades and start generating profits.
May 5, 2017
Investing in the Forex market can be quite exciting and there are many options that can generate amazing profits. Unfortunately, many traders enter the market without the knowledge they should have and they often make common mistakes that can lead to unnecessary losses. Making mistakes while trading is part of the learning process, but there are some mistakes that can easily be avoided. For those that are price action traders, there is not as much information available online, so common mistakes are often made because traders cannot find the right information to help them conduct these tyupes of trades. Here, we discuss the top three price action trading mistakes that are made.