What is the best Currency pair to start with...?

 

What is the best currency pair to start forex trading with. I am in the US. I am just starting out and don't want to mess up badly. Thanks for any advice..

 

I guess the most common to begin would be EURUSD. Trading that pair I got to understand the basic tools as sl and tp. When I got to fully understand I tried some other pairs.

 

In my opinion there are two currency pairs you can start with one is EUR/USD and the other is GBP/USD. I thing these are the better pairs to start with.

 

Ok thanks will try the USD/Euro.

How much start capital would you guys recommend to start. I would want to be able to cover my living expenses in perhaps 5 months time. If I invested 2000 to start is that reasonble to double my money every two months...? What I mean have any of you done it...

 
forexgain:
Ok thanks will try the USD/Euro. How much start capital would you guys recommend to start. I would want to be able to cover my living expenses in perhaps 5 months time. If I invested 2000 to start is that reasonble to double my money every two months...? What I mean have any of you done it...

i would like to recommend you to sort out the lines below before trading in real life:

  • what indicators to use
  • what tradingsystem to use
  • what timeframe to use
  • account size leverage
  • moneymanagement
  • trade a demo account on the metatrader platformAfter a succesfull trading period you go live but don 't expect doubling your money in 2 months time, be reasonable and aim for 10%.
 
forexgain:
Ok thanks will try the USD/Euro. How much start capital would you guys recommend to start. I would want to be able to cover my living expenses in perhaps 5 months time. If I invested 2000 to start is that reasonble to double my money every two months...? What I mean have any of you done it...

That is a good election, I chose the same pair and I´ve learn loads, part of my strategy is to specialize on that pair, I think it make easier my process than trading and analyzing more pairs movements.

 
forexgain:
What is the best currency pair to start forex trading with. I am in the US. I am just starting out and don't want to mess up badly. Thanks for any advice..

I would advise you to trade USDJPY for a start. Use only MACD and Parabolic to track this currency pairs. You will see good results!

 

Euro//USD because it is relatively less volatile and it is definitely easy to understand its movements.

 
Reealjrd:
Euro//USD because it is relatively less volatile and it is definitely easy to understand its movements.

Absolutely agree. This is a great pair for a beginner.

 

EUR/USD is definitely good to start with. You can understand. It broke resistance level today and is holding at 1.4042

 
forexgain:
What is the best currency pair to start forex trading with. I am in the US. I am just starting out and don't want to mess up badly. Thanks for any advice..

I got just the right post for you here What Currency Pairs To Trade?