How many Forex pairs should you trade or watch? PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE!

A common question that we get asked at Urban Forex: What are the best currency pairs to trade? This article will run through all you need to know about the currency pairs so you can decide for yourself which are the best pairs for you to trade. Two common questions that I get from aspiring forex traders are: “which currency pairs are best to trade?” and “what are the best times to trade?” This two-part article will first address the question “which currency pairs are best to trade?”, and next week we will address the question “what are the best times to trade?”.

Best currency pairs to trade in forex - a quick guide. Trading too many currency pairs is a bad idea. There are so many currency pairs out there - and some exotic ones too. The main currency pairs are EUR/USD, GBP/USD, USD/JPY, AUD/USD and USD/CHF. Besides these of course there are plenty of others. Let's say I say I'm going to specialise on the USD/CHF and I'm a believer of specialisation, however when you get tied to a specific pair like USD/CHF you must trade it all the time. You trade it when its trending or choppy and even when its not moving and this can be very challenging as the market conditions.

Most traders are either good at trading breakouts or volatility expansion or mean reversion but not all. The opposite end is to consider all currency pairs but then you have so much to look at that you will end up losing focus and this is dangerous as well. So most of the times it is better to limit yourself to 5 to 7 currency pairs. It is far easing to keep in tune with a restricted list - what are the major resistance and support levels, what are the catalysts that might impact them?

The Best Forex Pairs & Markets to Trade Concentrate on Trading a Couple of Forex Pairs or Many? Two of the most common questions I tend to receive over email are; what pairs should a trader trade and is it better to concentrate on just one or two pairs or many. Normally to answer the first question it can be difficult because every trader has a different broker and every broker has a different list of pairs and markets they offer and the spreads and commissions they charge can vary which can make some markets and pairs not worth trading depending on how much the broker is charging.

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I will be able to answer this first question much better by the end of this article. The second question has an answer that is often debated between traders, but the truth is the different methods need to suit the different trading methods. At we look to concentrate on the higher time frames such as the 4hr, 8hr and daily charts with occasionally moving down the 1hr charts, but the majority of our trading is done on the. For traders trading from daily charts it is far better to have many pairs to work from and then be able to take only the very best setups from the many pairs or markets.

Traders on the higher time frames want as many quality markets as possible to choose from as long as they can monitor them effectively so that they can then pick the best setups from the many. Traders who trade on the very small time frames such as the 5 min or 15 min charts who are often referred to as scalpers would not be suited to this method at all. Scalpers would simply not be able to watch many pairs at once because price is moving too quickly on the smaller time frames. In this case, the scalpers would be much better off concentrating on one or two of their favorite pairs. The other major difference is that for scalpers watching their 5 min charts price is moving really quickly. These traders have a potentially new setup forming every five minutes with every new candle close.

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