Pairs to Trade and Setting Up Charts – (Vid. 1 of 6)

Pairs to Trade and Setting Up Charts – (Vid. 1 of 6)

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Updated: Aug 23, 2022
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Beginner
2 min read

This is the first video in the free Forex Swing Trading in 20 Minutes Course (links to the rest of the course are provided at the end of the article).

I. Forex Pairs to Trade and Setting Up Charts

I currently follow 28 “normal pairs” and 19 “exotic pairs” plus oil, natural gas, silver, gold and the S&P 500.

Normal pairs are recommended for traders who are starting out. You don’t need to scan through all 28, as that may be a bit overwhelming at first. Instead, only watch about 10 of these pairs. I have put a star beside the ones I recommend you start swing trading first, and then you can gradually work up to watching all 28.

If you are more experienced and looking for opportunities in more currencies, then monitor the “Exotic” pairs as well. You should have a firm grasp on how pip values work if you opt to trade these pairs, because if you don’t the spreads and big numbers you are dealing with can really mess with your risk management.

II. Normal Forex Pairs to Swing Trade

forex pairs you can swing trade

III. Exotic Forex Pairs to Swing Trade

exotic forex pairs you can swing trade

USDZAR is also fine. My broker doesn’t offer trading in it for some reason, so it is not on my list, but you can add it to you list if you wish. With the Exotic pairs, start by adding a couple you are comfortable with, and then slowly add more pairs as you get better at spotting trade setups and understanding the pip values and movements of this pairs.

With this many pairs, if you are taking multiple trades be sure to check the trades aren’t highly correlated.


Sources & references
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Cory Mitchell
Market Analyst
Cory is a Chartered Market Technician (CMT) with more than 17 years of trading experience. He has written for multiple publications across the financial sector, and… read more.

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1. Pairs and setting up charts
a. Pairs to Trade and Setting Up Charts – (Vid. 1 of 6)
4. Position size and risk management

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