Selecting Currency Pairs

The Currency Market is open 24 hours day 5 days a week and split into three trading sessions.

London Trading session

US Trading session

Asian Trading session

Each trading session will move the market in different ways with London and the US having the most amount of movement. Now as a trader you need to find out what session you are in and trading.

I have attached above a link to a third party website that tells you what trading session you are trading. If you change the time zone to yours, you will see what markets are open. This is very important to know because you want to be trading the currency pairs with the most amount of volume and movement.

Above is a table of the pip movement across all the major currency pairs. This will tell you what currency pairs you should be trading in your session.

For example I trade the US session (5pm – 7pm GMT)

So the currency pairs I trade are EUR/USD, USD/CAD, USD/CHF, AUD/USD.

If you are a beginner in trading then its important you find your currency pairs and stick to them. I always trade four currency pairs in total so you should be doing the same. The more currency pairs you have on your charts the more confusing it can be. In theory you can trade one currency pair and make a full time income from it so having ten loaded up on your charts can get distracting.

Also remember sticking to these currency pairs gives you a better chance of being profitable. When you trade the same currency pairs every single day, you start to see how they work with each other and move and together, this gives you an edge in the market.

Now lets summarize.