in forex there are major and minor pairs, you only have to choose. but you should trade in a major pair because the spread is smaller.
good practice will make our skills in choosing a pair not just theory.
How to Choose a Forex PairIn 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 rangeis defined as the average price movement obtained from the difference between High and Low (High - Low) prices during a certain time period2. Based on VolatilityVolatility 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 NewsAs 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.
conclusions in pair selection in my opinion must look for opportunities and understand each character in each pair.
exactly, the pair characters are different there are those that move fast there are also those that are slow, for example the GBP character is very fast.
Gbb indeed the character is fast, if you know how to trade there the selection of GBP pair will be very profitable.
I will give a little extra in choosing a pair, choose a pair that is slow but consistent in forming trends, he is USD / CAD and AUD / USD.
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