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 or forex.com. 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.
If you are unfamiliar with how the money is counted in Forex, you have to understand the basic money terms.
Go to Investopedia and plug in these terms:
Pip
Lot size; Lot (securities trading) on Investopedia, scroll down to Forex Lot
Micro Lot
Mini Lot
Standard Lot
Currency pair
Once you understand these terms, then open tradingview.com and add the following pairs to your watchlist (for future use):
Chris' Favorite pairs are talked about in the Wealth Standard bonus links and he says these are his favorite because the demand is high, they are apart of the top 7 global currencies, and there are futures that correlate with these pais that give an extra confirmation on direction.
If you are not apart of the Wealth Standard, JOIN HERE!
The following pairs are the top earning pairs that I found using the pip value calculator below. Plug in these pairs to see how much you can make per pair per lot size. But always remember to manage your risk!
US30USD
NAS100USD
USOIL
EURCHF
EURUSD
XAGUSD
GBPCHF
EURGBP
AUDCHF
CADCHF
USDCHF
NZDUSD
GBPUSD
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. You can also use this POSITION SIZE CALCULATOR to determine how much you should risk based on the size of your account.
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!
