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  • 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.

  • #2
    Originally posted by Dustin View Post
    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

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    • #3
      Originally posted by Dustin View Post
      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

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      • #4
        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.

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        • #5
          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.

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          • #6
            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).
            Last edited by Josesv; 16-02-18, 05:24.

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            • #7
              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.

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              • #8
                EURUSD is my pair when I scalp because it is predictable at times and also highly volatile in the forex market.

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                • #9
                  Originally posted by DenverPhilips View Post
                  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?

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                  • #10
                    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?

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                    • #11
                      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.”

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                      • #12
                        Which currency pair is the strongest in forex trading for scalping and has low volatility in the market?

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                        • #13
                          Top traded FOREX pairs includes the US dollar as well as an economically developed country's currency.

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                          • #14
                            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?

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                            • #15
                              Which forex pairs are suitable for beginner traders even with a basic forex strategy?

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