I'm new to forex trading. I was wondering how many currencies are there to trade. I'm planning on just using the U.S. dollar to pair everything against. What are there 10 different major currencies. The more exotic ones I'm assuming are less liquid and riskier.
EUR / USD USD / JPY USD / CHF GBP/USD USD / CAD AUD / USD NZD/USD EUR/CHF EUR/JPY EUR/GBP Those in my opinion would be the majors I usually follow. The next group are also popular but not as "mainstream"....slightly wider spreads and not quite as on the beaten path.....they still can move considerably. GBP/JPY GBP/CHF CHF/JPY EUR/CAD After that ,, the sky is the limit...AUD/NZD CAD/JPY etc whatever you wish to cross. The First 10 are what most shops would probably consider wthe major currencies.
AUDCAD AUDCHF AUDCZK AUDDKK AUDEUR AUDGBP AUDHUF AUDJPY AUDNZD AUDPLN AUDSGD AUDUSD CADCHF CADJPY CHFAUD CHFCZK CHFDKK CHFHUF CHFJPY CHFNOK CHFPLN CHFSEK DKKCZK DKKHUF DKKJPY DKKPLN DKKSGD EURAUD EURCAD EURCHF EURCZK EURDKK EURGBP EURHKD EURHUF EURJPY EURNOK EURNZD EURPLN EURSEK EURSGD EURUSD GBPAUD GBPCAD GBPCHF GBPCZK GBPDKK GBPEUR GBPHUF GBPJPY GBPNOK GBPNZD GBPPLN GBPSEK GBPSGD GBPUSD HKDJPY JPYDKK JPYNOK NOKDKK NOKJPY NOKSEK NZDAUD NZDCAD NZDCHF NZDCZK NZDEUR NZDGBP NZDHUF NZDJPY NZDPLN NZDSEK NZDSGD NZDUSD PLNDKK PLNJPY PLNSEK SEKDKK SEKJPY SEKNOK SEKPLN SGDJPY USDCAD USDCHF USDCZK USDDKK USDHKD USDHUF USDJPY USDNOK USDPLN USDSEK USDSGD CHFZAR DKKZAR EUREEK EURLTL EURSKK EURZAR GBPZAR USDAED USDBHD USDEEK USDILS USDJOD USDKWD USDLTL USDMXN USDOMR USDQAR USDSAR USDSKK USDZAR ZARJPY AUDTHB CYPEUR CYPUSD DKKTHB EURLVL EURSIT EURTHB EURTRY GBPTHB MTLEUR MTLUSD NZDTHB THBJPY TRYDKK USDHRK USDLVL USDSIT USDTHB USDTRY
Stick with maybe 2 or 3 to start. Learn them, learn their behavior and learn what makes them move. Good luck, if you need any help getting started, Send me a PM -Kastro
While we're on the subject, what are considered the majors? I always thought of USD, GBP, EUR, JPY as the 4 majors. It seems like those crosses have the best spreads. Does CHF qualify as a major? What about AUD? Does it really matter what is considered a major and what is not?
yes, CHF is a major. AUD is a "soft" or "minor". Both AUD & CAD have the particularity to be heavily influenced by certain commodities such as gold, and especialy oil for CAD. Of course the correlation between commodities and these currencies is not perfect, but there is somewhat of an influence.
What about the Thai Bath and other south asian currencies, for small traders, they should be ok to trade? Didnt find any brooker who offers trading in those crosses..