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The pairs with less volatility in fact would be better for the new traders, that’s why exotic currencies (which don’t move much) are not advisable for newbies.

What do you have to say about GBP/USD, USD/JPY, and USD/CHF? I suppose these pairs make good options for London session since they have the tightest spread and are extremely appealing if you ask me.

See now that’s each the trader’s preference. I however would steer clear of the Canadian Dollar and a few other crosses like GBPAUD, EURAUD, and GBPNZD.

I second you here. Focusing on just one or two pairs suits day traders using 5 minutes charts but trading in the higher time frames will simply make things harder than they need to be.

I actually do not find trading currencies very puzzling to be honest. Like if you trade only those pairs that are positively correlated (like I am doing on oanda and fxview) then you can more or less predict and track the direction your trade is taking and likely to take in next few minutes.

One thing I’ve learned in my 5 years as a trader is to play safe and that’s the reason I went with EUR/USD. But lately I’ve started trading in USD/JPY and doing pretty well.

Unbelievable! I actually created a demo account (with another email) after I have been live trading for almost 8 months. Being on these forums can lead you astray at times.. I thank myself and my recommenders that I didn’t create a demo account before I began trading and wasted a whole lot of...

I like trading forex but margin call is something I keep as my priority in risk management. The platforms like Oanda, Fxview, etc. have options and alerts for when the funds are low. That’s helpful at times.

But demos don’t really ensure safety, do they? If a broker is a scammer, testing their demos will not prove that. It is very risky to go with a broker these days. I usually look at some trustworthy forums like elitetrader, babypips and look for recommendations. I’m using Oanda these days for...

What I do is I list out brokers into a category of weak and strong brokers. I read it somewhere about this method. This allows me to keep a check on the activities of some brokers that look suspicious. I have been scammed in the beginning of my forex career and I can’t risk that happening again.

Checked across various platforms , lowest pips are on EUR/USD and GBP/USD, also if I'm not wrong they are easier to analyse as they are positively correlated, am I right?

Yes I have read about Oanda being good with its pricing and the overall reputation seems solid.

It's always good if they are registered but I doubt if that's a compulsion.

Precisely why I chose to dabble in currencies rather than step foot in other markets.

I think I am gonna use leverage only now when my capital is low, with hopefully more to invest in the future I might not want to risk my money.

Would GBPJPY here be a minor currency pair? Does it mean that the leverage and spreads can take a backseat? Perhaps I should just start with EURUSD.

Ah! That makes sense, thanks a lot.!

Is there a particular indicator that you use? I am using RSI right now to predict overbought and sold pairs but many times get false signals. Pl help!

What are your recommendations on currency pairs in the present time? The ones I shortlisted - USD, EUR, JPY, AUD, CHF Heard CHF is under strict regulations by Swiss authorities. I feel more confident with my capital with low spreads and low commissions. What do you think about the effect on the...

You cannot be correct with your judgements all the time. It’s difficult to make the right decisions every time.