What's the easiest pair to trade?
I know there are a number of traders who will claim that some pairs are easier to trade than others. Although I do admit that history shows this might be the case, the truth is, no pair is easy to trade. And no pair is the EASIEST to trade. This is my humble opinion and I know others will respectfuly disagree. People will make claims based on hindsight, but as we all know, hindsight can be very dangerous, especially in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.
Here's a fact in Forex. Any pair can have any pattern at any time. Any pair can behave like any other pair at any given moment. No pattern is specific to a certain pair.
So when people say things like AUD/USD is easy to swing trade, or EUR/GBP is easy to scalp, it's not something that really clicks with me. Frankly I've found both those pairs arduous to trade, just as I find all pairs arduous to trade.
Price action applies to all pairs, Support and Resistance apply to all pairs, fibonacci applies to all pairs, and fundamentals applies to all pairs. So you apply the same rules to different pairs, and you get the same result.
Actually, let me take that back. There is an easiest pair to trade. Based on pure mathematics, probability and statistics, I would have to say the easiest pair to trade in fact, is the pair with the lowest spread.
Which is why my advice to all new traders would be: stick with the 4 majors initially.
I know there are a number of traders who will claim that some pairs are easier to trade than others. Although I do admit that history shows this might be the case, the truth is, no pair is easy to trade. And no pair is the EASIEST to trade. This is my humble opinion and I know others will respectfuly disagree. People will make claims based on hindsight, but as we all know, hindsight can be very dangerous, especially in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.
Here's a fact in Forex. Any pair can have any pattern at any time. Any pair can behave like any other pair at any given moment. No pattern is specific to a certain pair.
So when people say things like AUD/USD is easy to swing trade, or EUR/GBP is easy to scalp, it's not something that really clicks with me. Frankly I've found both those pairs arduous to trade, just as I find all pairs arduous to trade.
Price action applies to all pairs, Support and Resistance apply to all pairs, fibonacci applies to all pairs, and fundamentals applies to all pairs. So you apply the same rules to different pairs, and you get the same result.
Actually, let me take that back. There is an easiest pair to trade. Based on pure mathematics, probability and statistics, I would have to say the easiest pair to trade in fact, is the pair with the lowest spread.
Which is why my advice to all new traders would be: stick with the 4 majors initially.