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What are the best pairs to trade

  • Post #1
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  • First Post: Feb 8, 2010 10:24pm Feb 8, 2010 10:24pm
  •  erock
  • | Joined Oct 2006 | Status: Member | 85 Posts
Hi I'm new at trading forex and was wonering what the best pairs are to trade. I signed up with forex.com and they sent me access to tons of different pairs....I think around 40. obviously most aren't liquid.

I think some one was telling me that there are about 8 good liquid pairs....any advice would help.

Thanks,
  • Post #2
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  • Feb 8, 2010 11:00pm Feb 8, 2010 11:00pm
  •  CodeMeister
  • Joined Sep 2009 | Status: Making Code While Making Pips | 1,672 Posts
There has been plenty of discussion already. Just last week this one was started and there are more listed at the bottom of this page.

http://www.forexfactory.com/showthread.php?t=195554
 
 
  • Post #3
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  • Feb 9, 2010 8:42am Feb 9, 2010 8:42am
  •  erock
  • | Joined Oct 2006 | Status: Member | 85 Posts
Sorry....What I meant to say is: Is there enough liquidity for all of the pairs to trade. I trade strictly technical...so I look at all 40 some pairs. Are all of these markets fairly liquid or are there some I should stay away from
 
 
  • Post #4
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  • Feb 14, 2010 8:38pm Feb 14, 2010 8:38pm
  •  TheLastCoke
  • | Commercial Member | Joined Feb 2009 | 5,030 Posts
Charlie.
Several factors Indicates a break to the downside: Break of support, closed few times below daily TL, a clear break of weekly fibo (picture 1 and 2) and a bearish pennant (see picture 3) but still, why it could not get the attention to the sellers yet? It is probably because of the bullish weekly flag (picture 4). Take a closer look to the 4h TL (picture 5) it was quickly rejected, if drawn with an equidistant channel the line is still intact (picture 6). On different circumstances I would probably be convinced on the down side brake of this pennant. If you are considering .5600 as an entry take into consideration that it might still be inside the pennant. I will sell on the break of .5540 (think is safer). Taking into account that the pennant pole is 530 pips long this could be a nice sell opportunity as well.
Hope you find something useful here.
TLC.
Attached Images (click to enlarge)
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Name: 1 fibo.gif
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Name: 2 lower tl.gif
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Name: 1a pennant.gif
Size: 18 KB Click to Enlarge

Name: 3 weekly flag.gif
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Name: 4 tl4h.gif
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Name: 5 equidistant channel D.gif
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  • Post #5
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  • Feb 15, 2010 8:58am Feb 15, 2010 8:58am
  •  nihau
  • | Additional Username | Joined Feb 2010 | 3 Posts
Hello, i am too knew to FX, and i was wondering if there is somewhere a list that show a top 10 of the most commonly traded currency pairs exist...by popularity only and no other technical or whatever reason behind the ranking.

I joined ac-markets and enjoying the demo (not the MT4) at the moment, I think they have good choice of currencies, many more than I think I will try!

This FX is all new for me, and i was going to open with America broker, but everybody tell me that in fact everybody is closing accounts and moving out of America because of new NFA rule, this is why now i am going with a European broker.
 
 
  • Post #6
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  • Last Post: Feb 15, 2010 12:51pm Feb 15, 2010 12:51pm
  •  agiletrader
  • | Joined Jan 2010 | Status: Member | 17 Posts
Quoting erock
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Hi I'm new at trading forex and was wonering what the best pairs are to trade. I signed up with forex.com and they sent me access to tons of different pairs....I think around 40. obviously most aren't liquid.

I think some one was telling me that there are about 8 good liquid pairs....any advice would help.

Thanks,
Ignored
IMHO, the best pair for which Technical Analysis can be applied to is EUR/USD. My arguments is that there many trading systems that works fine for EUR/USD but fail on other pairs. For beginners it's simpliest to develope a trading system on EUR/USD.
 
 
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