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  1. #1
    Senior Trader
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    Good trading pair to start with!

    I got this question for many times from newbie’s! Actually, it depends upon the trading style and trading strategy as well. If you want to trade with rangy market and low volatility then you should go for EUR/USD and others major currencies! In addition, if you are comfortable with big moves then you may use GBP/JPY, Gold and Silver! Even you also can use CFDs, Indices instrument here! But I would recommend you to start with EUR/USD, to understand market nature and strategy!

  2. #2
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    Hello, new Forex traders may start with demo and major currency pairs, no exotic! I personally know three successful Forex traders and I know their trading history, they all are started with only one or two trading pair and right now, they use several trading pairs into their trading chart quite comfortably! On the other hand, greedy traders start their trading career with multiple trading pairs, but they can’t concentrate on any one properly!

  3. #3
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    Well, I am new Forex trader too! But I have a very interesting trading style! Actually, I use 3 trading pairs in my live trading, and they are EUR/USD, GBP/USD and USD/JPY! When I get down move on EUR/USD and GBP/USD then, I open my SELL trade on both of them! On the other hand, I open a BUY trade for USD/JPY! But when I see apprise moves on EUR/USD and GBP/USD, then I never open any trade!

  4. #4
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    I guess we need to trade major pairs as they inherit less risks as compared to the exotic pairs. These major pairs also have low spreads as compared to the later ones.

  5. #5
    Senior Trader
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    Quote Originally Posted by gals View Post
    I guess we need to trade major pairs as they inherit less risks as compared to the exotic pairs. These major pairs also have low spreads as compared to the later ones.
    Exactly it is! This is why, almost all of new Forex traders start their career by the EUR/USD and others major trading instrument! By the way, according to my observation, new traders should start with limited number trading instruments, like 2 or 3! Because, they are unable to concentrate on multiple trading pairs in a time! I have 5 years trading experience and now I use major+exotic FX pairs with Indices and CFDs.

 

 

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