My favourite trading pair is EUR/USD. I feel it's always beneficial to trade in two major economies of the world.
Contrary to what most of my friends suggested, I started off with 5-10 pairs with USDEUR & GBPUSD being the main to save the costs because of the low spreads. Plus my trading hours happened to be in sync when these were most active.
It seems to me that the euro-dollar pair will not lose its relevance, and it will always be a priority.
Mine is a different story here and learned my trading lesson the hard way. Started off with the same currency pairs full-time and realized that even after few months, these 2 pairs barely moved. Quiet surprisingly, the USD/JPY was the one that was a saving grace and provided easy money.
My favourite trading pair is EURUSD; the spreads are mostly lower, and I find it as a most comfortable trading pair, particularly when scalping.
Is there any strategy I’m missing out here coz unlike the contemporaries, I somehow don’t tend to make much money trading these pairs?
Of course there is. I calculate the average true range of the last 5-10 days for the currencies like EURUSD and calculate the values as the percentages of the pair’s price. Now whichever pair has the largest value is the pair you should be focusing on. I’d suggest you to speak with your broker because out of the plethora of currency pairs they offer, you’d get a better feedback from them on what suits you and your strategies. I say this because the brokers I worked with icm and fxview helped me decide on the currency pairs.
My favourite trading pairs are mostly major pairs such as EURUSD, GBPUSD, or JPYUSD since their spreads are lower and their volatility lower as well.