Forex Software Platform For Newbies: How to Choose a Currency Pair?

6 views

Skip to first unread message

Arwiansyah Brahim

unread,

Sep 27, 2025, 6:38:58 PM (7 days ago) Sep 27

to Learn FX Market

We continue to give certain advices for better and logically more successful trading for new comers at the Forex market. This time we will concentrate on investigating how to choose a currency pair. If you use certain Forex software platform then you have to know what currency pair to trade as your major one. Below you will find some useful tips for Forex software platform appliance when it comes to selection of a currency pair.

Forex Software Platform For Newbies: How to Choose a Currency Pair?

Each newcomer who comes to the Forex market at once has to face the choice of currency pairs. As a rule, everybody knows the most common currency pairs, for example, euro/dollar, dollar/yen, pound/dollar, dollar/franc. The rest is less well known but, nevertheless, can cause enormous interest among Forex software platform beginners in terms of prospects for trading in these instruments. In addition, some obscure currency pairs, even more specifically suited for beginners due to their peculiarities.

How to choose a currency pair?

The unequivocal answer to this question does not exist. This physics can be said that in a kilogram exactly one thousand grams. But what a currency pair to choose a newcomer, it’s more like a collection of tips and advice, and sometimes just stories in which everyone will share their experiences. In addition, we must remember that the currency pair – it is an individual preference for each trader. Choosing a currency pair will depend on many parameters, so everyone will have to decide this question guided by his tastes and experiences of other traders simultaneously.

Where to begin selection of a currency pair?

Start, perhaps, is to become more familiar with currency pairs. For each currency pair, there is a certain time greatest activity. For example, the Euro and Pound to the dollar are active at a time when the work British European and American economy. Night (Moscow time), these couples give more false signals, since at that time actively working Asian traders. Such periods, when the national banks operate a particular currency, call trading sessions.

Trading a currency pair can be both during the session and after it. When and better these issues will be resolved after selecting a Forex trading strategy. But more often prefer to trade it during the trading session. For example, one of the most popular services for traders providing trading advice for transactions on the currency pair of euro/dollar reports that use the service during the Asian session is not recommended due to the large number of false alarms for the opening of the transaction. But if a trader has a strategy to make profits is not in session, then there is nothing to argue.

Volatility of a currency pair at Forex software platform

Foreign exchange pairs differ in the time at which the economy works the countries to which they belong. But besides that, there is one very important difference. Currency pairs differ in volatility. Volatility – a range of fluctuations in the currency pair in a given period. Ie each currency pair makes jumps of various sizes. In response to these shocks, some currency pairs can be called a quiet and calm, and some vice versa.

For example, the currency pairs of GBP/JPY and GBP/USD are the leaders in sharp fluctuations. Therefore, trading in these currency pairs is recommended only for those who have a Forex software platform trading strategy developed for such races. EUR/CAD, EUR/AUD are more stable, USD/CHF, GBP/CHF, EUR/USD and USD/JPY are even calmer. With these currency pairs is traded a substantial part of traders. EUR/CHF and EUR/GBP currency pairs have the fluctuations about 3-4 times less than in most volatile currencies.

Reply all

Reply to author

Forward

0 new messages