Jules said:
I’d go with XAUUSD.
The only way to go.
GBP/JPY is my pick.
I find EUR/USD has the cleanest structure.
I still think it’s unrealistic to pick just one forex pair.
Clyde said:
I still think it’s unrealistic to pick just one forex pair.
It really depends on the trader. I mainly trade AUD/USD, and that’s what I’ve focused on mastering over the years.
What works for one trader might not work for another. Whether it’s one, two, or even a hundred pairs, it depends on the individual trader.
Vail said:
@Ari
I stick with EUR/USD. What’s your reason for AUD/USD?
I used to trade EUR/USD and GBP/JPY, but I discovered that AUD/USD’s price action fits my trading plan better. Plus, AUD has nice volatility during the Asian session which is perfect for me, as it’s midday where I live.
Clyde said:
I still think it’s unrealistic to pick just one forex pair.
Funny you say that, considering many institutional traders stick to one forex pair and learn everything about it.
Clyde said:
I still think it’s unrealistic to pick just one forex pair.
Are you calling me delusional?
Clyde said:
I still think it’s unrealistic to pick just one forex pair.
What makes you think that?
Why limit yourself to just one market? If EUR/JPY price action aligns with USD/JPY and other JPY pairs, then why think your system wouldn’t work for those as well?
@Khalil
I don’t limit myself to just one pair. I also trade futures (like gold and silver) and cryptocurrencies (like BTC). I asked this out of curiosity. I do trade multiple forex pairs but prefer one when the market structure is clearer.
@Khalil
If they are all positively correlated, why trade three when you could just trade one? Why complicate things? If they’re negatively correlated, maybe then a hedge could make sense, but otherwise, just focus on one.
@Riley
Ever thought about managing risk by splitting what you trade to limit exposure?
But it’s your call.
Clyde said:
I still think it’s unrealistic to pick just one forex pair.
Only trading one pair is missing out on profit opportunities. That doesn’t make you delusional though.
You’d only be delusional if you lack trading knowledge and think that sticking to one pair or trading many would make you suddenly profitable.
Without a solid trading process, it’s best not to trade at all.
For me, GBP/JPY fits my trading style perfectly.
Definitely GBP/JPY for me.