EURUSD is the most trading pair used for scalping trading, because of low spread and high average daily movement price, I am also trading on this pair using scalping ea.
Currency pair recommendations
- Thread starter Evrardmakon
- Start date
major currency pair not only best for beginners but also for all kinds of trader , its really good than others to trade any major pair.
@Bailiwick Yes, they have high liquidity in general and low spreads. In the beginning, it is better to stick with 2-3 currency pairs and understand them fully. You just need liquid pairs to make money, not the number of pairs.
major pairs are pretty much the go-to for traders. However, exotic currency pairs are also something to look for like USD/THB, JPY/NOK, EUR/TRY if you are confident in your skills
Exotic pair is too risky, they have high spread, sometimes ago, I am trying to trade on EURTRY, it's bullish time, and yes it's profitable when getting a ride on the trend, but when floating the wrong direction, quickly will make losing money.
I am voting for Gold or Silver than exotic pair because both also have a low spread.
I have heard many traders saying this. May I please know why is it so?
Exotic currency pairs are risky for forex trading because a lot of such currencies are not stable and there is no sufficient liquidity in the market.
Exotic pair is currency trading pair from emerging country and they unstable, besides transaction trading fee also higher than major trading pair, once I try EURTRY that represent currency Euro and Lira Turkey, indeed if get right position the profit will high, but onse wrong the loss quickly reduce equity.
Ohh I see...thanks for replying buddy!