What is the most profitable forex pair to trade? (2024)

What is the most profitable forex pair to trade?

The EURUSD is recommended. If it is really quiet for many days (moving less than 40 pips per day), consider trading the GBPUSD or USDJPY. You may opt to trade two or three currencies at the same time.

What is the most profitable forex pair?

Which forex pair is best for trading?

What is the highest traded forex pair?

EUR/USD​​ “The Fiber” is a combination of the Euro and the US dollar. This is generally considered the most traded currency pair as it stems from two of the world's largest and most reputable economies.

What type of forex trading is most profitable?

Three highlighted profitable forex trading strategies are: Scalping strategy “Bali”, Candlestick strategy “Fight the tiger”, and “Profit Parabolic” trading strategy. How to choose: Choose a forex trading strategy based on backtesting, real account performance, and market conditions.

What pairs move 100 pips a day?

The AUD/JPY, AUD/USD, CAD/JPY, NZD/JPY, GBP/AUD, USD/MXN, USD/TRY, and USD/ZAR move the most pips daily but are not the most liquid currency pairs. Among highly liquid currency pairs, the EUR/USD and the GBP/USD move between 70 to 120 pips daily, followed by the USD/CHF and the USD/JPY.

Which forex pair is always trending?

Of all the pairs listed in our table, the EUR/JPY, NZD/USD, and AUD/USD are the most trending currency pairs at the moment. Although these trends are not extremely forceful, they have produced numerous trading opportunities during the last 12 months.

What are the big 5 forex pairs?

The five currencies that make up the major pairs—the U.S. dollar, euro, Japanese yen, British pound, and Swiss franc—are all among the top seven of the most traded currencies as of 2021. The EUR/USD is the world's most heavily traded currency pair, representing more than 20% of all forex transactions.

What are the safest pairs to trade on forex?

USD/JPY (US Dollar/Japanese Yen)

The USD/JPY pair is often considered a safe haven during times of market uncertainty, as the Japanese yen is seen as a stable currency due to Japan's large trade surplus and low inflation rate.

What forex pair is best for scalping?

Scalpers tend to follow the most major pairs which are traded, and their most preferred pairs are EUR/USD, USD/CHF, GBP/USD, and USD/JPY. Scalpers prefer these pairs because they move slowly in the market and have the highest amount of trading according to volume.

Which forex pair is easy to trade?

Beginners might find the AUD/USD pair to be an excellent choice, since it is more predictable and less likely to spike or drop suddenly. In many studies, this pair has also been cited as one of the least volatile. In conclusion, the best currency pairs to trade for beginners are EUR/USD, GBP/USD, USD/JPY.

What forex pair is like gold?

Gold and Swiss Franc (XAU/CHF):

The Swiss Franc, like gold, is considered a safe-haven currency. Consequently, the correlation between gold and the Swiss Franc can be positive during times of economic uncertainty.

What is the 80% forex strategy?

In conclusion, mastering the 80% percent winning forex strategy involves a holistic approach that goes beyond technical analysis and risk management. Traders must continuously learn, adapt, and optimize their strategy while also developing the psychological resilience needed to navigate the challenges of the market.

Can forex make you a millionaire?

The answer is yes! Forex can make you a millionaire if you are a hedge fund trader with a large sum. But forex from rags to riches for the majority is usually a rocky and bumpy ride which often leaves some traders in their dreams.

What is the secret to successful forex trading?

The best traders hone their skills through practice and discipline. They also perform self-analysis to see what drives their trades and learn how to keep fear and greed out of the equation. These are the skills any forex trader should practice.

How to get 20 pips daily?

To achieve 20 pips a day, selecting the right currency pairs to trade is crucial. Some currency pairs are known for their higher volatility and are better suited for short-term trading. EUR/USD and GBP/USD are popular choices for day traders due to their liquidity and tight spreads.

Is 20 pips a day enough?

Chasing profits: Trying to make more than 20 pips a day can lead to risky trading decisions and potential losses. Not having a solid risk management plan: Risk management is crucial in forex trading, and not having a proper plan in place can result in significant losses.

How to get 50 pips per day?

To implement the 50 pips a day strategy, traders usually set a profit target of 50 pips and a stop loss to limit potential losses. They carefully monitor the market and open positions when they believe there is a high probability of achieving the target profit.

How many forex pairs should I trade?

If using a 1-minute chart for day trading, focus on trading one pair well. The EURUSD is recommended. If it is really quiet for many days (moving less than 40 pips per day), consider trading the GBPUSD or USDJPY. You may opt to trade two or three currencies at the same time.

Which forex pairs follow each other?

How many pairs is good for trade forex?

While there are many pairs you could trade for most traders, it is best to stick to one to five pairs and become an expert. There is always a temptation to change markets when making losses. Other forex pairs can appear to have stronger trends, higher volatility, and easier-to-make profits.

Which Forex pairs do not correlate?

If you open a long position in EUR/USD but the markets fall, you can quickly open a short position in USD/CHF to hedge the risk. These pairs have no relationship with one another and do not affect each other's movement. An example of non-correlated currency pairs is EUR/USD and GBP/NZD.

Which currency pair is best for beginners?

What is the most successful scalping indicator?

Can you make a living scalping forex?

Lastly and the most important of all, you must be well capitalized with, in my view, at least 100k in disposal trading capital to really make it as a scalper. I make a decent living full time as a scalper. I trade 5-10 lots, averaging 3-5 trades per day and make/keep on average about 30-50 pips per day.