Which currency pair you should trade?

By  USDR

We have heard a lot of questions about the Forex currency. A part of the traders thinks that currency pair has got to do something with making a profit in their strategy or in Forex market they are trading. Another part thinks that it is possible to make a profit with any currency pair. It is true that major currency pairs are most stable and also, they are much exposed to the volatility of the Forex market, they are also a good way to make profits as these currencies have got their price level changing always. The minor currency pair is also good when you are not ready to take the heat of markets, but they can slow down your profit growth as you cannot take advantage of the market volatility. Many traders like to trade in a volatile market as it is when these traders are able to make a profit very quickly and the prices are  changing.

This article is going to tell you and which currency pair to trade. We are not saying that you need to trade your native currency or your dream currency, but you need to trade the market based on your knowledge and understanding. Sometimes you have to take risks in Forex and this is how you will be making money. Some of you might think that making money is not all tough and all you need big trading capital. This concept is absolutely wrong and even you will realize it after trading the market for few  months.

Which currency to trade?

We know that you have to wait patiently to know the answer to find out which is the best currency pair for making money easily. The answer is there is no fixed currency pair which is good. If you are a good trader, you can make money even with a minor currency also. But if you really insist on us, we should say that US currency pair is a good way to start your career in Forex. You know that US Dollar is the best currency to trade in Forex. If you look at the transaction rate of Forex market, you will see that more than 82% of transactions are in US Dollars. This is the number one accepted currency in Forex. After US dollar, Euro is the best currency pair to trade. But as we have told you sometimes you have to take risks, when you are trading with US dollars you will get some advantages. You will be making more money when the market becomes volatile or there is any news released. It is not possible for your other currency pair. If you really want to make money, start with US Dollar in Forex  industry.

Focus on Forex majors

As a beginner trader, you should always focus on Forex major in trading CFDs. Most of the major pair movements are relatively stable and they exhibit less false spike. But when you will trade the synthetic pair you will be surprised to see the false trading signals. However synthetic pair trading can be extremely profitable especially if you know price action trading strategy. All the expert uses the reliable candlestick formation at the key support and resistance level to trade the market. If you are beginner trader then never trade the market with real money rather open a demo account and practice hard. Some of you might even use Forex simulator but still, the demo account is the number one platform to master the art of  trading.

Summary: As long as you know the perfect way to trade, there is no need to worry about finding the best currency pair. However, researchers suggest that you will have better trading result if you trade the market with major pairs. Over the period of time, you will gain experience and confidence. Once you have all the traits of successful traders, try trading the synthetic pair for a bigger  profit.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.