When I began my trading education, I started in forex, like MANY of us. There was one thing I would ALWAYS hear:
"US30 is the TRUTH!"
When I first traded US30, I doubled my account in pretty much one trade.
The only rule in taking higher profits in the forex market is to simply trade the markets with the highest return. Plus, managing your RISK by only taking trades that are at least 1:2 risk/reward.
You will never escape risk.
BUT this is not a technical analysis post but a simple list of the top forex pairs in the market.
In order to trade the forex market, you must have a broker set up with MT4. If you have no idea how to trade forex, do some research or just sit this one out for now. Or expand your trading journey here.
Babypips.com is a good site for the most basic info on Forex
If you are unfamiliar with how the money is counted in Forex, you have to understand the basic money terms.
Go to Baby Pips or Investopedia and plug in these terms:
Lot size; Lot (securities trading) on Investopedia, scroll down to Forex Lot
Once you understand these terms, then open tradingview.com and add the following pairs to your watchlist (for future use):
Once you have your pairs saved in your watchlist, plug each of those pairs into the pip value calculator and play around with the numbers and the values.
Plug in the trade size based on your experience:
- .01 for a beginner
- .10 for intermediate
- 1 for advanced
Make sure that anytime you trade, you are in the proper state of mind by eating well, getting a good nights rest, having a solid routine. documenting DAILY in your trade journal, and using mental stimulants that will help you gain clarity and focus!