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3 Steps to Choosing Best Currency Pairs to Trade in Forex πŸ‘

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How many Forex pairs should you trade or watch? http://www.financial-spread-betting.com/forex/forex-trading.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Best currency pairs to trade in forex - a quick guide. Trading too many currency pairs is a bad idea. There are so many currency pairs out there - and some exotic ones too. The main currency pairs are EUR/USD, GBP/USD, USD/JPY, AUD/USD and USD/CHF. Besides these of course there are plenty of others. Let's say I say I'm going to specialise on the USD/CHF and I'm a believer of specialisation, however when you get tied to a specific pair like USD/CHF you must trade it all the time. You trade it when its trending or choppy and even when its not moving and this can be very challenging as the market conditions. Most traders are either good at trading breakouts or volatility expansion or mean reversion but not all. The opposite end is to consider all currency pairs but then you have so much to look at that you will end up losing focus and this is dangerous as well. So most of the times it is better to limit yourself to 5 to 7 currency pairs. It is far easing to keep in tune with a restricted list - what are the major resistance and support levels, what are the catalysts that might impact them?
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Text Comments (21)
blkmalepa (22 days ago)
I tend to watch the 28 pairs but focus on the currency that is moving and buy or sell it's crosses. Strongest vs weakest
William Kulbicki (1 month ago)
Thanks for the taking the time to make these
Scarecrow (4 months ago)
This channel is a goldmine!
Alex Harrod (5 months ago)
the best currencies to trade are the strongest against the weakest. websites like finviz have a strength index that shows the strongest and weakest currencies each day. i check this at the beginning of each day so i know instantly which pairs i should be looking at.
Omer abdalaziz (5 months ago)
i am going the videos suggestion , but it always attempting to go out there and find more opportunists
Raghu Raman (6 months ago)
Useful information man. thanks God bless you
muurish1 (7 months ago)
I personally think the topic has been overlooked and the way you've brought it to light as made a difference to me and I hope it does the same for others. Fantastic channel..quick and to the point useful information πŸ‘
Darth Forex Vader (8 months ago)
Countries who are in opposite economic cycles should be your first thing to find out and be aware of- particuarly If there are no oppitunities currently presented to you with your preferred pair
Edin Arneas (8 months ago)
nice and easy i learned a important lesson. thank you very much man. i shall remember you. (your speech is hard for me to catch, sorry. talk a little slow, please.)
ntokozo thungo (9 months ago)
you always on point and you don't waste time on useless things thank you be blessed.
john doe (1 year ago)
i use the 7 main pairs and a few minor's looking for setup's ie support resistance and trend lines
Luca Zanetti (1 year ago)
My trading is definetly GBP based. Over the time I came to a 3 charts setup: cable, gbp/jpy, usd/jpy. I would only trade cable but as you said, sometimes prices goes "flat" so when this happens, maybe the gbp/jpy is moving. Or even better, when happens gbp/jpy to be stuck simply means that cable and usd/jpy are going opposite ways. Love to check OIL from time to time and rare cases the usd/cad or other GBP crosses (cad, nzd, chf) but not that much in recent times.
Luca Zanetti (1 year ago)
Guess you forgot about the loonie, maybe it ran away with the red pen. LOL.
OSWALDO KATZ (1 year ago)
I trade 34 currencies looking for trend following setups
Aivars Klavins (1 year ago)
3 pairs mostly and oil+ gold
Paul Peace (1 year ago)
5 pairs of forex & 3 commodity....
HoMhAM (1 year ago)
i love your videos man thank you so much
Jumpchao150 (1 year ago)
Have you thought about teaching the Kelly Criterion. It makes sure in order to use it that you have a trading system that must be execute consistently, the system must be thoroughly backtested in order to determine the probability of success which is needed in the equation, the stop and take profit perimeters be set before entering a trade and can not be altered during the trade, and because it determs the maxim amount of effective leverage in each position it makes it impossible to over leverage one position. The Criterion is adaptable to a large segment of trading systems, and is endorsed by an original market wizard. It truly does make trading an idiot-proof activity.
Sokleng Om (1 year ago)
One more that should be "AUDCAD"
paasuke (1 year ago)
PLEASE! Can there be any content on advanced trading? ANY? Only advice for the starters... I love trading but i want other people to share their strategies and ideas on the market not what is a pip, whats the difference between a quote and a base currency, what is the RSI tool etc.
paasuke (1 year ago)
Thank you for answering. Your channel is the best channel about trading no questions asked, the content deserves 10x more views. With that out of the way I have seen the interviews which are pretty advanced but when it comes to a specific field then it would be really great if there are videos about how hedge funds trade for example or how experienced traders trade the market (not interviews but actually on charts).
UKspreadbetting (1 year ago)
There is already (and we will produce plenty more) of advanced material but we also need to cater for beginners and intermediate traders so will also continue producing 'starter' material as well. The best way to check our videos is to use the playlists where we sort them in separate sections. If there is any field you are particularly interested in feel free to let us know.
Ignizer Trading (1 year ago)
nice!

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