It is not an easy task to be an expert trader in the forex market. It comes with a lot of hard work and dedication. First focus on gaining knowledge and then practice in the demo account as much as possible. Know the proper risk and money management to survive in the market long. Never trade without SL. Trade with proper risk-reward ratio.
Second this. Any XXXJPY pairs if you want heavy trending. If you catch the top or bottom, you can easily catch a 10R or 15R trade. Once caught a USDJPY top and bagged 10R in less than a day.
Your analysis and trading strategy are two components essential when trading with any pair. Every pair requires a different trading strategy and understanding. I prefer to go with EUR/USD, USD/CAD, and GBP/USD. New traders begin with major pairs because they are more stable.
Your analysis and trading strategy are two components essential when trading with any pair. Every pair requires a different trading strategy and understanding. I prefer to go with EUR/USD, USD/CAD, and GBP/USD. New traders begin with major pairs because they are more stable.
Any pair I favour mostly major pairings; nevertheless, my advice is that you should have a portfolio of pairs that you follow for a period of time.
My portfolio has 5 pair and 2 Commodities is as follows:
- EURUSD
- GBPUSD
- USDJPY
- EURGBP
- NZDUSD
- Brent Crude Oil
- Gold
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