Best Pairs To Trade Forex

forex income engineForex trading in the beginning when you are just learning you will want to trade the best pairs which are known as the majors. These six pairs have the most liquidity and sufficient price movement to make them worth trading the majors also have the best volatility to make these moves possible.

Also when starting a new trading endeavor we may take on too much and want to trade too many pairs one of the advantages over stocks is the few pairs to trade as opposed to thousands in the stock market. Make it easy on yourself and stick to the big six majors.

These are the six major pairs listed below and are consistently recommended as being the best pairs for trading Forex and meeting all the necessary requirements.

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  • EUR/USD (Euro/US Dollar)
  • GBP/USD (British Pound/US Dollar)
  • USD/JPY (US Dollar/Japanese Yen)
  • USD/CHF (US Dollar/Swiss Franc)
  • USD/CAD (US Dollar/Canadian Dollar)
  • AUS/USD (Australian Dollar/US Dollar)

 

There are many more pairs to trade in the Forex market place however if you limit yourself to the majors you will be able to concentrate on trading instead of spending all your time looking for trades. You will also be able to see stronger trends in place among fewer pairs and with the higher liquidity it makes trades easy to get into and out of and that is good.

If you want a tighter focus you could pick two of the majors and only trade them then you will have them tagged good meaning you will get to know the trading patterns and be ready when your specific trading setups occur. If you did trade just two you could trade the EUR/USD and GBP/USD as they are the most widely traded and have the highest liquidity.

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Another strategy would be to trade a base currency with a USD counter for the other side of the pair and a base USD and a different currency for the counter. This way you may see some patterns in the way they trade counter cycle to each other it won’t always be this way but some times when the USD rallies another will go the opposite way. Try a few watch lists and find the best ways for you.

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