Choosing a currency pair

Yes, traders should choose a single currency pair for trading on which he or she will gain much more knowledge. When a trader trade in multiple pairs, it becomes hard for him to gather expertise on all of those pairs altogether.

Trading in a particular trading pair is always appreciating because analysis of multiple pairs becomes hard for a trader. He cannot standstill his focus on a certain currency pair that distracts his attention and bears no result for him. I prefer trading in a non-volatile currency pairs like EUDUSD.

Expert traders always trade in a single currency pair because analyzing all the pairs at a time in a body is really difficult for traders and traders can hardly forecast the market. For certain, traders should keep themselves away from volatile pairs because it invites harm for them.

We see maximum traders trade in multiple trading pairs and as a result they cannot benefit from here highly. So, we recommend them select a single pair to analyze and trade. It is really comfortable and painless for a trader.

I have made the most from EUR/AUD over the years.

Wow, that’s quite interesting! Did you start with this specific treading pair from the demo? Or suddenly started to play with this currency pair?

Just slowly started trading it more and more over the last few years. Think I started trading it in 2019, I like the range, and medium volatility.

I think every strategy performs a little bit different and of course different for everyone. last year in 2021, I was trading over 25 pairs, but when I reviewed my trading performance I noticed my top5 trading pairs were not even forex... they were the indices like us100, gold, silver,us500,german30, and uk100. Now I strictly focus on those.

I like to trade 'contrasting' currency pairs, ie, a pair where one currency is much more prevalent than the other. To do this, I get my bias from fundamental data (FED news & numbers, employment data & inflation news. Taking that into account then I'll search for (supply and demand) setups on my chosen pairs.

So I mainly trade the generally safer USD vs risk liking currencies such as AUD, NZD, GBP. If we're in a risk-off environment I will long the USD vs those risky loving assets and vice versa (generally speaking). Also, As the JPY is getting smashed by all-comers I will match almost any currency against it.

I'm a beginner in forex and currently demo trading with different currency pairs. Which pair is best to trade in live trading to gain profits and have a lower loss rate?