moonchild
VIP Contributor
When it comes to choosing a forex pair, there are a lot of technicalities involved, you have to first understand your own method of trading, we all trade differently so what works for me might not work for you and the only way you can understand the kind of trader you are is by practicing, you have to put in the time on the charts, open a demo account and take trades, it is only by applying yourself that you will get this.
While practicing you have to pay attention to the currency pairs that are giving you the most wins, say for example you take trades on USD/JPY, AUD/USD and EUR/USD and your analysis is always on point for USD/JPY, ignore the others and focus on that, refine your strategy and run with it, when I started trading my mentor ensured that we stick to just one pair, which helped us really well because we were able to know it moves.
After finding a pair that you are compatible with, stick with it and keep on testing other pairs , till you get yourself a stable of pairs you can trade with.
If you enjoy this short guide please leave a feedback.
While practicing you have to pay attention to the currency pairs that are giving you the most wins, say for example you take trades on USD/JPY, AUD/USD and EUR/USD and your analysis is always on point for USD/JPY, ignore the others and focus on that, refine your strategy and run with it, when I started trading my mentor ensured that we stick to just one pair, which helped us really well because we were able to know it moves.
After finding a pair that you are compatible with, stick with it and keep on testing other pairs , till you get yourself a stable of pairs you can trade with.
If you enjoy this short guide please leave a feedback.