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How to Choose a Forex Pair

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ASHfx

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How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.


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#1 - May 20, 2019, 03:32:36 AM

Rickie

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Quote from: ASHfx on May 20, 2019, 03:32:36 AM
How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.
by knowing this, the selection of the right pair we can get when trading. then the chances of profit are very high.
#2 - May 20, 2019, 04:59:19 AM

siManis

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My favorite pair is Eur / usd and Eur / jpy because in my opinion the two pairs are quite tame and I myself also quite understand the characters of the two pairs.
#3 - May 20, 2019, 05:45:20 AM

Patima

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pair can be chosen with the compatibility of our character and trading style and what our favorite pair is.
#4 - May 20, 2019, 08:27:09 AM

abrahamsomad

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Quote from: ASHfx on May 20, 2019, 03:32:36 AM
How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.
Choosing a forex pair before entering the market is a strategic step in optimizing profits. Use one of the pairs you are interested in, then analyze it before making a transaction. Selection based on range, volatility, and news will really help you focus on one pair that is considered fun and comfortable to use.
#5 - May 20, 2019, 09:15:28 AM

nurwahid

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Quote from: ASHfx on May 20, 2019, 03:32:36 AM
How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.
Especially for beginners or those who still want to find a suitable pair, you can choose a forex pair with a relatively small range. Pair EUR / USD is the favorite pair chosen by traders because the average movement is still below 150 points.
#6 - May 20, 2019, 02:09:14 PM

pranaja

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Quote from: ASHfx on May 20, 2019, 03:32:36 AM
How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.
The usual forex pair recommendations for beginners are EUR / USD and USD / JPY for major pairs, and EUR / GBP for pair cross. But according to Forextraderportal.com, other major pairs such as USD / CAD, AUD / USD, NZD / USD, and USD / CHF can also be used by beginners. These pairs tend to be easier to analyze, because they can show a more predictable trend, and their characteristics do not save too many surprises.
#7 - May 20, 2019, 02:43:57 PM

Neng87

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Thank you for sharing..it will help me to choose the right pair to trade
#8 - May 20, 2019, 03:24:33 PM

Agn3s

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pair that matches our trading style is usually the first pair we use, for example we learn on the first demo account with a EUR / USD pair then that pair will be our chosen pair.
#9 - May 20, 2019, 03:49:19 PM

Kartu As

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Quote from: Agn3s on May 20, 2019, 03:49:19 PM
pair that matches our trading style is usually the first pair we use, for example we learn on the first demo account with a EUR / USD pair then that pair will be our chosen pair.
right, that's what I experienced too, since I got to know forex transactions I only know the EUR / USD pair and until now I am loyal to the EU pair even though sometimes I also trade in other pairs.
#10 - May 20, 2019, 05:33:44 PM

kirana

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Quote from: ASHfx on May 20, 2019, 03:32:36 AM
How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.
I suggest that beginners should choose major pairs such as GBPUSD and EURUSD because the two pairs are the most traded
#11 - May 20, 2019, 10:58:32 PM

Sundary

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Quote from: kirana on May 20, 2019, 10:58:32 PM
I suggest that beginners should choose major pairs such as GBPUSD and EURUSD because the two pairs are the most traded
I agree, the main pair especially EU and GU can be a good choice for beginner traders who want to learn the characteristics of a pair.
#12 - May 21, 2019, 03:07:11 AM

Afip

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Quote from: ASHfx on May 20, 2019, 03:32:36 AM
How to Choose a Forex Pair

In choosing a forex pair, you can use several criteria for consideration. The selection criteria for forex pair can be chosen based on price movements per day (range), the level of volatility, or the impact of the existence of fundamental news.

1. Based on Range Price range

is defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period

2. Based on Volatility

Volatility is the amount of distance between the rise and fall of foreign exchange prices. High volatility means that prices go up high quickly then suddenly fall in quickly too, giving rise to a very large difference between the lowest price and the highest price at a time.

3. Based on News

As is well known, a news can cause considerable price volatility. In fact, news also has the potential to change trends in the short term, so many traders must speculate on a number of pairs. In such conditions, you are advised to look for other sources of information regarding the pair to be traded.
choosing the right pair and having a good moment in trading certainly helps to make a profit. these three steps are very applicable.
#13 - May 21, 2019, 05:44:43 AM

Tsabit

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Quote from: Afip on May 21, 2019, 05:44:43 AM
choosing the right pair and having a good moment in trading certainly helps to make a profit. these three steps are very applicable.
yes right sir, especially the number three news are usually very influential.
#14 - May 21, 2019, 06:12:01 AM

Broq

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Quote from: Tsabit on May 21, 2019, 06:12:01 AM
yes right sir, especially the number three news are usually very influential.
choosing the right pair will give you more profit opportunities.
#15 - May 21, 2019, 06:26:22 AM
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