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yes brother you are correct . gbp/usd sometime have great movement and sometime its hard to understand and for this i am trading three pairs and when i dont find any entry point in gbp/usd then i try to others eur/usd and aud /usd and when the contrary pairs is same then its become some easy to analysis.
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you not trade other currecny instead silver ? anyway i think if its give you consistent profit then its ok and i am fully agree you about your last line which is really need to make consistent profit from any particular currency pairs of metal.
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Exactly correct friend and for this i am trading four pairs from my staring of forex trading . its true when there is no opportunity to enter in one pairs then another give us chance but i think its not good concentrate to many pairs which may give less concentration.
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Gold i better option for trader who have just started trading in forex as they have not experience in trading in pairs and gold have high volatility and people easily know where price will up or down.
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There are many pairs which are major pairs which mostly traders do.But according to me best pair is that which have more volatility and low spread and have fundamentals.
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you are right i think that we can see that the chart of the eurusd at least the same with the gbpusd and audusd but some times when there is good news i think we can choose the piar that we think that we can make to us good profit
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i think almost all of traders in the world used EURUSD as their favorite pair because it has good volatile low spread and easy to read...and besides it i like GBPUSD, i used it because it has good relationship between EURUSD with GBPUSD and this is good opporunities to make me easier for trading
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I prefer the pair eur usd, because I think with a highly volatile market conditions we can get a lot of profit if we have the right strategy.
but in the sideway market conditions I would use the USDCAD pair for scalping strategies. because the range USDCAD in sideway market is very stable, between 20-50 pips.
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My favorite pair is EUR/USD . i think this pair is vary good for trade and vary good for newbies also. and this pair is good speed or movement also. everyday this pair move 50-100 pipes easily . you can trade here short time and long time also.
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I have tried it one time when i traded gold and i blown up my 5000$ demo account with in a day. So it was a bad experience so i never tried it again and just concentrate on currency trading.