Every beginner forex trader that considers this trade as a career would definitely need to put in more energy on currency pairs that can yield the best possible profits with the most minimal risk on equity.
The basic truth still is that traders would always want to know what their options are and focus their trading energies on it. This is necessary because with the diverse number of pairs out there, care is needed so we don't see a resultant overload and a subsequent confused trader way before you get into winning ways.
Trading a selected number of currency pair could be a good idea, as some of the pairs provide a better profit max to others. Let's go on further to explain some juicy pairs that you might want to stick to whilst trading;
The Euro USD is one of the most loved pair by investors. If you look across the board amongst most market makers, you'll discover that this pair poses the lowest spread. For newbie traders in the forex market who are willing to try out trading systems, the EUR/USD offers so much flexibility towards technical studies analysis.
Hence, making it a well positioned currency pair for investors who are willing to try this pair. This pair is usually not erratic during normal market conditions and thus a wonderful pair to learn with and also has a strong world view. All the aforementioned properties make this pair very attractive to newbie traders as it eliminates a lot of risk.
The Pound US dollars acts similar to the EUR/USD when it comes to price actions. It's more volatile and has the potentials of yielding in more profits. Trading the GBP/USD during a breakout yields more profit. There are dangers when trading this pair and should be noted. The use of a stop loss is highly advised due to its volatile nature or rapid price actions.
With almost the same spread as that on the EUR/USD pair, the USD/JPY is a very good pair to trade for newbie traders. It also displays a low spread just like that seen with the EUR/USD. It smoothens price when compared to other pairs and therefore can impact on your paths towards becoming a great forex trader.
If you master this game and optimize your skills, your earnings would bolster. You must be abreast with activities in the forex market as you might lose some chunk of your bucks if you refuse to adhere to these tips.