Forex Pairs.

Forex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.

Forex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.

 

Profit targets are also important to set because we need care equally about exit and entries

Forex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.

 

Profit targets are also important to set because we need care equally about exit and entries

I personally don't get much joy from USD/JPY.. however, I do really like GBP/USD and GBP/JPY. I hate NZD as a �base currency. Never touch it, got myself burned more than once with it.

It is recommended to start with just one currency pair and the best one for the beginning is EUR/USD as it has the smallest spread and there is a lot of information and analysis available on these currencies to make sound predictions on their value.

It seems to me that without any serious macro-data being published today, the EURUSD will most likely retain its position give or take 50 – 60 pips. That is to say that the pair should stay within the confines of the double top (1.2480 – 1.2520) and its corresponding low point (1.2350 – 1.2390). Edited February 16, 2018 by Josesv

I suppose it is profitable to trade on any USD pair, since it has high volatility, which means that a trader is interested in trading the active pair.

It is recommended to start with just one currency pair and the best one for the beginning is EUR/USD as it has the smallest spread and there is a lot of information and analysis available on these currencies to make sound predictions on their value.

 

Trading in currency pairs isn't easy at all. I'm a student and I want to become a successful trader. That's why my friend also recommends me to start with just one currency pair on platforms using a robot for forex trading, like this one https://rofx.net/. But, I'm not sure if this is the best option.

A currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. The first listed currency of a currency pair is called the base currency, and the second currency is called the quote currency.

EURUSD is my pair when I scalp because it is predictable at times and also highly volatile in the forex market.

EURUSD is my pair when I scalp because it is predictable at times and also highly volatile in the forex market.

 

Is it possible to trading scalping with broker which offers floating spread account?

I see many comments supporting EURUSD, and I agree with it, but are there any other pairs similar to EURUSD volatility suitable for my broker FP Markets?

One of the most widely traded currency pairs in the world would be the USD to EUR, which would be a shortened way of saying “conversion of United States dollars to euros.”

Which currency pair is the strongest in forex trading for scalping and has low volatility in the market?

Top traded FOREX pairs includes the US dollar as well as an economically developed country's currency.

I'm a beginner and will be live trading soon, so I'm looking for recommendations on which forex currency pair is best to trade?

Which forex pairs are suitable for beginner traders even with a basic forex strategy?

doing scalping with EUR/USD and GBP/USD

Forex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.

 

For beginners, it's advisable to start with major currency pairs, as they tend to be more liquid and less volatile compared to exotic or minor pairs. Some of the best forex pairs for newcomers include:

 

EUR/USD This is the most traded currency pair and offers tight spreads, making it a popular choice for beginners.

 

GBP/USD Another widely traded pair with good liquidity and often featuring predictable price movements.

 

USD/JPY Known for its liquidity and relatively stable trends, making it suitable for new traders.

 

at the moment trading with CAD/USD

Setting profit targets in forex trading is crucial because they help you lock in gains and maintain discipline. Having a clear target ensures you don't get greedy and exit a trade at the right time, preventing potential reversals that could erode your profits. It's a key part of effective risk management and helps you stay focused on your trading goals.

Which forex pairs are suitable for beginner traders even with a basic forex strategy?

 

EUR/USD is the most amazing phenq GNC traded currency pair, for approximately 23% of the total trading volume. Each currency pair has its own characteristics, benefits, and drawbacks as well. e.g, the EUR/USD is the most liquid currency pair and has tight spreads, making it an ideal pair for beginner traders.

Edited October 30, 2023 by Beautiful Seeraa

Which forex pairs are suitable for beginner traders even with a basic forex strategy?

 

I think any majors will suit since they have the lowest spread. You will likely make lots of mistakes and wrong trades so at least you will be able to save up on transaction costs which should slightly improve your overall performance.