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    Thread: Best advice for a newbie regarding selection of the currency pair

    1. #191
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      According to me newbies should select the currency pair to trade according to the amount of movement in that currency pair and initially they should trade in the currency pair which has moderate amount of movement into it as this would be the best learning curve for them.

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      Quote Originally Posted by meeftah0318 View Post
      new traders can choose the major pairs with the jpy crosses and can have some good trading experiences, those pairs are more stable than the others and moves in a good manner, so you can test those and have some experience of trading,
      I think novice or newbies should not be choosing so many currency pairs to trade at once because it would become a source of confusion for them, but when concentrations is pined only on one currency pair then much attention would be given to it and good trades shall be able to executed.
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    4. #193
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      choose a pair which is mostly traded by all the traders almost because most of people in this world would be trading pairs like eurusd gbpusd or usdjpy and this is one for you to choose any one of the tree and i am trading witheurusd and this is what i really hope to trade with for my future

    5. #194
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      selecting proper currency pair is one of the most important part for newbies.because when you just enter the market you don't have knowledge about the currency pair but you should know the volatility of currency pair.so i can suggest only euro/usd pair for the newbies who are just join the market.

    6. #195
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      a good forex trader should make accurate analysis after selecting the currency pair and the analysis of the chart should be combined and followed with the analysis of the news or the fundamental analysis and he should also avoid greed and emotions which are harmful for the trader

    7. #196
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      The Newbies in the Forex Market do not necessarily need an advice to choose a specific Forex pair, All that they need to do is learn Forex. In the process of their learning and Demo practice, They can get a good set of pairs that they can focus on and trade.

    8. #197
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      i see that eur/usd pair is very good for beginner to start his trading with it because its movements is good and clearly and not speedy same as other pairs so trading in eur/usd is very good for beginner and after they succeed in trading with eur/usd pair they can try to trade in gbp/usd and usd/jpy because these pairs also is very good in their trading but eur / usd is the easiest

    9. #198
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      i would spend some time with many pairs in demo and then pick one which is giving you best results and this is where all can be easy and all can be good happening for you so hopefully you will do the same as you can not choose a pair without doing anything like practice you need in demo

    10. #199
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      As we all not there are eight major currency in Forex market. But for new trader, its a little bit tricky part form them to trade all the currency. So, its better for them to take 2 or 3 currency pair for first couple of months. After that they can handle more currency pair without having any trouble.

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      selection of currency pair is a smart decision to be taken with good care and complete understanding. newbies should consult with some expert or must check their knowledge and trend towards particular currency along with a lot of latest knowledge related to it. so that they may take the right decision.

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