What Is Your Best Currency Combination?
Agree with previous post. I am not a big fan of frequent volatility. My favorite pair is USD/EUR. Still sticking to it after all these years!
24 hours of demo trading is definitely not an indication of anything. I believe one pair is all you need. Otherwise, instead of managing one big position well, you manage several small ones poorly. There is no reason to believe that if one can't be profitable in one pair, he will in some magical way become profitable doing several. Chasing one cockroach on the floor is easier than chasing seven hoping they will "corellate".
They might. Not. 
don't be greedy
two pair currency is enough, although it's call multipair but each pair have their own unique characteristic. I did some research, the correlation of some pair it's very volatile, not every time EUR/USD will follow with GBP/USD, and sometimes after few hours one pair try to catch another.
about EUR/USD and USD/CHF indeed they have some correlation, but only in stronger trend and please avoiding the news
euro
It has to be euro/usd.
Jpy
I have been studying Forex for a few months now and noticed that the following currencies (at least for now) move somewhat in the same direction (this is not an exhaustive list of all the currencies that move in the same direction):
EURUSD, EURJPY, GBPUSD, GBPJPY, AUDUSD, AUDJPY, NZDUSD, NZDJPY.
When the above are moving in one direction the following three are sometimes moving in the opposite direction:
USDCHF, USDCAD, USDJPY.
This is not always the case, but often is....I've noticed that anything with JPY ultimately moves in the same direction most of the time. They all seem roughly correlated that is; there may be "lag" or "lead" time betweeen them, but from what I have seen, the USDJPY also roughly moves in the same direction as its other JPY cousins in your first list above. (The USD JPY tends to "lead" more than follow the others I believe).
The JPY may initially move opposite to the other pairs containig JPY, but ultimately it will correct itself and loosely revert to the same pattern as it's cousins. (ie - GBPJPY, EURJPY)
Another thing I've noticed is that the AUDJPY and NZDJPY will usually lag a little behind the others with the majors. (ie - GBPJPY, EURJPY) And the same goes for AUDUSD, NZDUSD vs. EURUSD and GBPUSD.
But, I have been away from FX since 2007, so maybe that has changed. Please feel free to correct me if I'm wrong.
The EURUSD and the USDCHF are like 95% exact opposites and they almost always perfectly and inversely mirror each other.
USDCAD is a commodity (oil) pair, so when crude oil goes up/down, the CAD will too along with it, since Canada is like the 4th largest producer of oil. (or something like that). It is also highly sensitive to the value of the USD, so I think you are right about it moving opposite to the European currencies.
Gotta go with 4 majors.
EUR/USD, cable, USD/JPY.
USD/CHF- to hight spread. I'm Scalper.
EUR/USD has manageable volatility most of the time. However, I would like to agree with earlier posters who said to stick with a couple currency pairs at most. Each pair has it own nuances that you'll never notice if you're trying to keep track of everything that is going on in the forex market.
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I have been studying Forex for a few months now and noticed that the following currencies (at least for now) move somewhat in the same direction (this is not an exhaustive list of all the currencies that move in the same direction):
EURUSD, EURJPY, GBPUSD, GBPJPY, AUDUSD, AUDJPY, NZDUSD, NZDJPY.
When the above are moving in one direction the following three are sometimes moving in the opposite direction:
USDCHF, USDCAD, USDJPY.
This is not always the case, but often is.
So what I did (on a demo) was open the top row (after a retracement was finished) in sell positions and the bottom 3 currencies in buy positions (the top row was for the most part trending down, and the bottom row was for the most part trending up).
And after 24 hours my demo account was up $7000 (about 700 pips).
But none of this is a good currency combination because if there is a major retracement (when you are asleep or not watching the charts) on any one of the above mentioned currencies more then likely all the others will be retracing at the same time in the same direction. So you could end up with -$7000 in 24 hours due to a retracement.
So I am looking for a currency combination that is effective during trending and retracements.
For example, since the top row (EURUSD, EURJPY, GBPUSD, GBPJPY, AUDUSD, AUDJPY, NZDUSD, NZDJPY) usually move in the same direction I can make half buy and the other half sell and hopfully there will still be a little gain when the market goes one way or the other.
But if it is too close to 50/50 nothing will happen (won't get anywhere).
This is why I am hoping someone can share their currency combination strategy that works for profit no matter what direction the market goes in.
Even if it is a +100 pip gain it is better then a -700 pip loss (although not as good as a +700 pip gain).
If I come up with something I will share it here.
Below is a screenshot of trades (with the above currency pairs) that took place overnight.
The end result is it might be better to open 1 or 2 currency pairs rather then multiple pairs. For example, notice I opened 11 currency pairs and hence used 11 lots total (one $10 lot each). That is the same as trading just 1 lot (on one currrency pair) worth about $100. So if, for example, I was only to trade the EURUSD (which got almost 60 pips in the below trade) I would have made about $6000 (10x60). But by trading multiple currencies my profit was limited to half that.