Learn About Currency Pairs (Forex Trading For Beginners!)

Описание: The Basics of trading starts with understanding currency pairs. However, you don't need to know all the currency pairs, indices, stocks or commodities in the world. Just get comfortable with 2 or 3 pairs and narrow it down to 1 pair you can master its moves.

Your personality, trading style and capital also matters when choosing a currency pair or any asset in the financial markets.

Scapler - in and out of the market within 30 minutes
If you want to be a scalper who is not looking at taking for long hours in the market then GBP/JPY, EUR/CAD, GBP/USD, EUR/JPY, XAUUSD, US30 or NAS100 are the assets you can select from but for the last 3 assets your trading capital matters you don't want to be trading volatile commodities or indices with a very little capital size

Day Trader (sits in for 2hours a day)
If you are a daytrader like me then choose among the following: EUR/USD, USD/CAD, USD/JPY, EUR/JPY, AUDJPY, CADJPY, NZDJPY,XAUUSD, USOIL
Typically you would be in the market for a range of 2hour or 3hours.

Swing Trader or Position Trader (holds trading positions for days, weeks or months)
If you are working on being a swing trader (due to time constraint, tight job or employment schedule or demanding activities either with school or nursing mum) and you wouldn't have much time to sit-in for an 1hr or 2hr then here are the currency pairs for swing traders: EUR/USD, USDJPY, AUD/USD, EUR/CHF. For commodities swing trading with Oil (USOIL, BRENT OIL) or Gold (XAUUSD) is good but you have to be skilled with Risk Management (understanding the art of risk management is more important than your strategy or trading style)

Be disciplined, be patient with yourself, and be consistent with your growth. Gradually, you would find consistency in your trading journey.

If you have any questions, feel free to ask in the comment section below.

Email your trades to be reviewed at [email protected]

RECOMMENDED BROKER
If you don't have a broker currently or you are looking for a recommended broker use these link to register with my recommended brokers:

Exness: https://one.exness-track.com/a/30x9dg...

easyMarkets: https://record.partners.easymarkets.c...

Puprime: https://www.puprime.net/forex-trading...

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TIMECODES
0:00 - Intro
0:10 - Currency pair meaning
1:06 - Base & Quote Currency
1:14 - Bid & Ask Price
2:15 - Trading Journal
2:50 - What are Major Currency Pairs and their symbols
4:35 - What Are Minor Currency Pairs and their symbols
5:17 - What Are Exotic Currency Pairs and examples
5:52 - The Best Currency Pairs To Trade In Forex