The best Pairs to Trade?

Thank you for the kind wishes. I hope so too.

any pair can be better if you have experience with it. so, be experience and earn more profit by your pair.

That's the best way of putting it. As long as you know what you're doing, the pair doesn't matter.

I think all major pairs was good for trade. You can easily found their fundamental news and technical analysis.

Here's the truth that nobody wants to hear.

Don't trade spot forex. Trade futures contracts listed by the CME.

And from that list, you should only trade the top 8 in terms of trading volume:

(1) Euro Fx 6E
(2) Japanese Yen 6J
(3) British Pound 6B
(4) Australian Dollar 6A
(5) Canadian Dollar 6C
(6) New Zealand Dollar 6N
(7) Swiss Franc 6S
(8) Mexican Peso 6M

M1 TimeFrame, on London session for tightest spread

I see, I see. I assume you're using EUR/USD too? Since it has the smallest spread?

Yes, most often EURUSD, because of tight spreads and good liquidity

Have you ever tried scalping any other pair?

100% agree. If you have enough knowledge about the pair then you should be able to trade them comfortably.

I agree, that's the only thing that matters.

Agree with you! Major pairs are the good option to go with initially for the novice traders.

Actually, not only for the new traders but also for the experience traders. Exotic pairs are always costly.

Why do you think the Yen pairs are the best?

I actually had a reply ready for here. And my phone ate it. Anyways let's try this again (and hopefully make it shorter).

Basically - I'm no expert trader. I've learned a lot being here and reading - losing - gaining. I gave my opinion on the matter earlier on and will give my updated opinion now. I don't expect that my reply will be an "end all" to the discussion as we will have new members and the question will keep being asked. We all look for the "special pair" and the "magic formula" but the truth is - it doesn't exist.

If you take 10 traders that have a similar style (day traders, scalpers and swing traders for example) you'll find that each of the 10 have different rules - different strategies. They may all be considered the same type of trader, but they have their own personal methods. As such, there are different pairs with different "attitudes" or "personalities" if you will. Some react immediately to low volatility news while others refuse to move unless it's something that's high volatility. It's just the nature of the pairs.

I personally trade the GBP/AUD primarily. The spreads are horrid in comparison to others, but I have no issues with it. That's just me. So that being said here's my advice regardless of what you use. I see that @HiddenGap recommends futures - that's fine if it suits you. But I'm dealing with just plain old Forex.

Pick a pair. Stick to it for 1-3 months to see how you do. Less time if you find it frustrating. Either trade on a demo or use 0.01 lots to "get a feel" of the pair. If you like it then stick to it and maybe add more using the same method. If you don't like it then move on - there's LOTS of different pairs and lots of other things like stocks, futures and commodities.

The other harsh truth is that trading isn't for everyone. We need people to lose in order to have winners. Everyone can't win. And the winners can't win all the time. Everyone loses at times - even if it's small losses.

If you use divergence, moving averages, Ichimoku, price action, paid for indicators - whatever your strategy - test it and follow your rules. Paid for strategies/indicators usually come with rules - test them and stick to them. If you don't trade based on your own rules on your own marked-up charts then it means you're lazy, didn't learn to trade on regular charts or maybe simply don't have the time and want an easy way to trade. I won't judge. Been there - I think everyone has been there that's been trading more than 2/3 years. Nothing is 100% guaranteed in life except death - but the rules you make or the ones made by a purchased system are meant to be followed. Many persons lose primarily when they bend or break their own rules. So moving on to that part.

Find the pair. Test your system (paid or developed on your own). Check if the pair suits your style and system. If it does - keep testing. If it works stick to it. If it doesn't work change your pair or change your rules after closing out. If you get tied up with a hedge (or a couple hedges) adjust the rules as you go and get it right. Once you find your comfort zone be advised that the pairs are never static - the behaviour changes at different times of the year and with different economic events/news.

If you learn from someone doing well and try to copy their methods it may not work for you. What you should do is take what you learn and develop your own strategy from it. If you manage to copy something and it works - good for you. If it doesn't work it doesn't mean the system is faulty - especially if the original person is making money. It just means you need to either tweak it for your own needs or pick another pair/instrument.

My stats are attached just to show that I have some idea about what I'm saying. Also bear in mind that I work as an IT/ATM tech and I'm on the road most of the time and every day except weekends. And you know that nothing happens on weekends. I still would LOVE to learn from some of the far more experienced persons, but everyone has their own lives and I've had to get here after lots of losses. Nobody to help/teach/mentor/reference as I went along. Still - this community has been great. Lots of stuff to read - lots of stuff to share. Still doesn't beat having someone to either talk to or have a face-to-face. Anyways - rambling as I usually do.

That's all I can say. Happy trading everyone. Stay green. Hopefully this helps.

Yea, with major pairs like AUDUSD, GBPUSD, NZDUSD, however I noticed better results with EURUSD, probably because of the tight spread

Trade whatever is moving. Some people are marred to a particular pair, but if you took away the name and numbers, it is impossible to identify a pair just from chart paterns. I look for emerging strong/ weak pairs (using JPY as a neutral background). Find whatever works best for you. Good luck!

That makes perfect sense. Regarding scalping, have you ever had any problems caused by order execution speeds?

It also depends on one's knowledge, one can't focus on all pairs at once.

There is a huge variety of currency pairs available for trading in the Forex market. It is recommended to start with just one currency pair and the best one for the beginning is EUR/USD.