yes this pair is more appropriate for traders who are beginners.
Currency pair recommendations
- Thread starter Evrardmakon
- Start date
any kind of major pair is safe and sounds than others. but we trader can trade some exotic pair in demo.
First look on majors, if not sufficient then on minors. Exotics I would avoid because they can have massive jumps so volatility can hurt one on some days/weeks. In case you also look on Exotic pairs you really need to cut down your leverage much. But my experience is that the extra return from exotics is not worth to the extra capital you need to hold your positions for the vola jumps which come with Exotics. This is because of assymetric return/risk, so 100% return is not equivalent to 100% risk, it would be only to 50% risk as an example. Usually in over 99% of cases your strategy does not produce the extra outcome of return to overcome the greater risk when trading Exotics because of the much higher volatility, which can go against you fast and deep. Just look at the crazy moves this year since February on several Exotics. My two cents.
I would advice to go with the major pairs
It’s best to start with major pairs only because they have low volatility. Later, traders can move to pairs with moderate/high volatility.
EUR/USD, USD/JPY, and GBP/USD are good pairs to start trading with.
What setups and entries do you like to use?
Anything like this guy shows?
https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-15#post-5163004
I totally agree with you that major pairs are not risky. There is uncertainty in exotic pairs. So I prefer major pairs and specifically eur/usd and usd/jpy are my top picks.