currency pair characteristics

R

razf1

I am thinking about getting into Forex trading and I would like to get some feedback on the characteristics of the popular pairs. For example which pairs tend to be good for beginners v. the more volatile ones. My time frame will be the daily/weekly chart.

Thanks,
Raza
 
Hey Raza, sorry I didn't see your post.

I hated EUR/USD when I first started - I mean, hated it.

I traded AUD/USD (I blew a demo acct up on it) and GBP/USD (aka "cable') - used to scare the hell out of me.

I graduated onto USD/JPY - and thought that was a slow trader.

After trading for awhile I came back to EUR/USD because that, by volume, is the most volatile though the British pound silver (GBP) actually outperforms the dollar/euro in volatility.

3 best pairs to trade, then, if you want volatility would probably be a combo of EUR/USD, GBP/USD and USD/JPY.

You open trades in these 3 pairs, you won't be lacking for volatility. :D

But beware of GBP/USD - its multi-hundred point 'silver spikes' can be killers.

You may need to be an accomplished trader to take that pair on.

Another good pair to trade is EUR/JPY and perhaps even GBP/JPY - both dangerous.

Good luck,

fx
 
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