What's the best currency to trade? In this week's newsletter, It's a big question many new traders struggle with.
The truth is, no one currency pair offers any more opportunity for profits than the next. Yes, some are more volatile, but the basic swing, or range is quite similar for all the major pairs.
You should focus on one or two pairs at the most to trade at any one time. Pick major pairs when you are starting out, as they are the most predictable in most market conditions.
It's just too hard to follow all the data if you trade more than a couple of pairs.
Start with one pair, and once you have attained success with that pair, you can add more if you wish. You'll find there is more than enough information to keep track of without making things harder for yourself. Keep it simple.
If you do trade more than one pair, be sure that the pairs you choose are matched properly in their correlations to avoid being over-leveraged.
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