Forex information are listed as bellow. Currency brokers make their profit through these differences of ‘bid & ask’ price and this is how they manage to provide their services to individual investors without charging them commission fees. If you are new to trading it makes sense to deal in the more popular currencies. There are two main reasons for this. Firstly you do not want to be left with a currency where there is little interest and you may have difficulty selling. Secondly the spread between the bid/ask prices is likely to be narrower, making it easier to make a profit.
http://mylovelyforex.wordpress.com/2012/03/30/forex-trading/
2012-03-29
What Forex Traders Should Know about Forex Futures?
Forex futures are traded by making contracts to exchange one currency for another at a specified date in the future date. Exchange rates and trading amount are also fixed on the purchase date. Forex futures are traded via exchanges, such as the CME (Chicago Mercantile Exchange). The underlying exchanging object of forex futures are forex exchange rates, such as the Euro to US Dollar exchange rate, or US Dollar to Japanese yen exchange rate. Forex futures are traded exactly the same way like other futures markets.
Forex future is a derivative of forex. There are some differences forex future and spot forex. Today I will list some of the most distinguished differences as follows for your reference.
Difference No.1 between spot forex and forex futures:
Forex futures traders are able to use forex futures to hedge against losses brought by forex market volatility. In spot forex, traders need to experience every up and down of forex market.
Difference No.2 between spot forex and forex futures:
Trading Forex futures need to pay commissions but in spot forex trading, forex traders only needs to pay for spreads.
2012-03-28
Starting in Forex Trading with Currency Pairs
To start trading on forex, one must first learn how to read forex quotes. Foreign exchange quotes are always listed in pairs (e.g. USD/JPY 109.2): the first listed currency is known as the base currency with a constant value of 1 unit; while the currency listed in the second is known as counter. In our given example, USD/JPY 109.2 means a dollar of United States Dollar is equal to 109.2 Japanese Yen.
http://mylovelyforex.wordpress.com/2012/03/29/starting-in-forex-trading-with-currency-pairs/
http://mylovelyforex.wordpress.com/2012/03/29/starting-in-forex-trading-with-currency-pairs/
Tips on How to Choose the Best Forex Software
If forex traders google for the best forex software, they are able to get numerous results. Among so many choices, how to find the best forex software? First, let’s just forget about the numerous results because the more you read them, the more you tend to be confused. Some of them just recommend traders to use their software without telling traders what traders should know. So today, I will list the simplest way to help Forex traders to find the best forex software.
1. Best forex software is easy to use
Do not use forex software that is too difficult to use because traders have to spend a lot of time in researching how to use the software. Best forex software is normally user-friendly, forex traders are able to execute orders, change interfaces and trade forex quickly by using best forex software.
Best forex trading software usually provides forex demo account for traders to practice with. By using forex demo account, forex traders are able to get more and more experienced in forex trading and most importantly, forex traders are able to test the performance of forex trading software by using forex demo account.
4. Providing first class customer support.
Best forex software is bound to be equipped with comprehensive customer services for traders. Usually, forex traders are unfamiliar with forex software when they first use it. they might have many questions about the software, thus they need assistance in setting and using from the software provider. Best forex software is able to provide the above mentioned customer support to forex traders.
2012-03-27
Things you should know in Forex
Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
http://mylovelyforex.wordpress.com/2012/03/28/things-you-should-know-in-forex/
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
http://mylovelyforex.wordpress.com/2012/03/28/things-you-should-know-in-forex/
Introduction to Different Types of Automatic Forex Trading
Automatic forex trading is quite popular because it helps many traders solve their problems in forex trading; for example, a forex trader who wants to make money in forex market but does not have enough time to trade in front of computer can use automatic forex trading; or a forex trader who does not have enough experience can refer to analysis and advices of automatic forex trading. Before traders enjoy the conveniences brought by automatic forex trading, they should know how many kinds of automatic forex trading they are able to choose from.
The first type of automatic forex trading is fully automatic forex trading. Fully automatic forex trading is able to make decisions on aspects of orders such as entry, exit, price or amount. It also can initiate orders automatically. What forex traders need to do is adjusting technical parameters of automatic forex trading program. By using fully automatic forex trading, forex traders are able to hand over forex trading to automatic forex trading program totally. Even an inexperienced forex trader is able to get profits with the help of automatic forex trading. Then the program will analyze the market, watch over it and close positions all by itself. If forex traders need their trading to be done by others totally, they are able to use automatic forex trading program for help.
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http://www.ikonfx.com/forexblog/introduction-to-different-types-of-automatic-forex-trading/
2012-03-26
China’s Financial System “sound and safe”
Let’s introduce some forex information. Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development.
As a result, the country’s economy has maintained its momentum of smooth and rapid development, wen said.
http://mylovelyforex.wordpress.com/2012/03/27/chinas-financial-system-sound-and-safe/
How to Be a Successful Forex Trader in the Forex Market
Every forex trader wants to succeed in forex trading, which is absolutely correct. But the fact is that not everybody can realize their dream of making money in the forex market. Only 5% forex traders are able to get profit; what are the reasons? Forex market fluctuate constantly, it is not realistic for everybody to win in this market, but do remember that god help those who helps themselves. According to survey, successful forex traders are always those who work hard to get advanced in trading. Today we will state how to be a successful forex trader.
1. Facing the reality of forex market
Since Forex market is quite volatile and allow traders to apply leverage if they do not want to invest too much money; it offers possibilities that Forex traders can earn profits in the very short time period, and even become a millionaire overnight. So forex traders are easily affected by such news and regard forex market as a heaven for earning good money. If you are such kind of forex traders, stop dreaming and be realistic. Giving up the daydream and start forex trading seriously. Remember that not everybody can get profit from the fluctuating forex market.
2. Learning more about forex
Even if they are experienced forex traders, they should remember that there is no end to learning; especially for forex beginners they should be more diligent in getting forex education by taking forex classes, asking help from experienced forex traders and forex brokers. They should learn to analyze market by themselves and make suitable forex strategies; or they should practice trading with forex demo account. There are so many ways of getting forex education for forex traders. So do not stop learning and forex traders will harvest for their diligence.
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2012-03-23
The Asian Development Bank
Let’s introduce some forex information. Although by definition the bank is a lender to governments and government entities, it also provides direct assistance to private enterprises and has also participated as a liquidity enhancer and best practice enabler in the private sectors of regional member countries. It is conceivable that once all of Asia-Pacific reaches a certain level of living standard, the bank will be wound down or reconfigured to operate as a commercial enterprise.
Pros and Cons For Choosing an Online Forex Broker
These days, most of Forex traders choose online brokers because of their advantage of Forex trend. This makes them stand on an outstanding position and get hold of competitive advantage compared to others. Online brokers can provide traders good qualities of transparency and charge lower trading commissions than others do. It’s pretty simple to get you to know that electronic brokers basically use internet to access to traders’ accounts, which means they provide a better access to the first hand information. Based on the most varied resources they absorb from computer programs and networks, they can effectively update financial information and news, then provide to clients. This is the reason why opting for online trading becomes a common phenomenon.
However, it seems that the online brokers provide the same service to any of their clients, which means there is no superior information providing to their best clients. Besides, there is nothing like a network not working properly. For instance, trading losses incurred in many online traders are, to a great extent, caused by the server problem. Furthermore, some online investors with no Forex fundamental knowledge are more likely to trade without proper recommendations. This can also bring about investment failure.
As far as I’m concerned, the benefits of online brokers far outweigh the disadvantages. The best way for online investors to trade properly is to get a slow start. You may find the online brokerage rating is a useful starting point to select a good broker. Then you can take it step by step at a time till feeling capable enough of getting control over your money and even possibly making some profits from online trading.
http://www.ikonfx.com/forexblog/why-choose-online-forex-brokers-to-start-forex-trading/
2012-03-22
The international Monetary Fund (IMF)
Let’s introduce some forex knowledge. Member states with balance of payment problems, which countries earn and/or are able to borrow from other official lenders and what countries must spend to operate, including to cover the cost of importing basic goods and services. In return, countries are usually required to launch certain reforms. For example, nations with severe budget deficits, rampant inflation, strict price controls, or significantly over-valued or under-valued currencies run the risk of facing balance of payment crisis. Thus, the structural adjustment programs are at least ostensibly intended to ensure that the IMF is actually helping to prevent financial crisis rather than merely funding financial recklessness.
What is Forex Range Trading and How to Get Started in Forex Range Trading?
Forex traders may wonder what forex range trading is. If they have made research on some forex charts, it is not difficult for them to find that there are times when they see the price moving up and down within a trend channel (please refer to the picture below). When the price is within a channel, we say that it is moving in a range bounded by an upper resistance and a lower support level. Forex range trading means buying and selling in the range.
Take a look at this chart. There are a support line at the bottom of the picture and a resistance line at the top of the picture. We can see that price bouncing up and down within support and resistance lines. The area created by the support and resistance lines is called a trend channel or a range in forex range trading. Range traders try to stay in the range. They usually buy at bottoms and sell at the tops. Thus, we can see that range traders usually trade in the support and resistance lines and they always trade relative short term in forex range trading.
How to get started in forex range trading?
Before forex range trading, what forex traders should do first is to choose proper currency pairs that have the biggest potential to bring profits in forex range trading.
Step 4 for forex range trading: don’t be greedy
It is beneficial to set goals for each trade and do not involve such emotions as greed in forex range trading. Just follow forex trading strategies and do not dream of being rich overnight. Avoid chasing break out because that is risky.
The World Bank
More forex information we know, the better performance we would do. The former are made for the support of economic and social development projects, whereas the latter provide quick disbursing finance to support countries’ policy and institutional reforms.
Forex Trading Plan, the First Step to Successful Forex Trading
For a forex trader, making a forex trading plan is essential if they want to succeed in forex trading because a forex trading plan is like a guideline, without proper, detailed and objective forex trading plans, traders are prone to get confused in trading. Why do forex traders need a forex trading?
A forex trading plan is able to help cut potential losses
Most forex traders do mathematics before making a forex trading plan because they want to figure out how much they can afford to lose and how much to invest. Thus, they are able to make risk management strategies in order to cut losses in forex trading plan.
A forex trading plan can prevent traders from emotional affect
Forex traders, like other people, tend to be affected by various emotions. A forex trading plan may help minimize emotional affect such as greed and impulse; for example, when a trader decides to add more positions impulsively because he wants to make more money, he may come into mind that his forex trading plan doesn’t allow him to do so, thus he decides to stick to his forex trading plan.
A forex trading plan helps traders to make clear goals and urge them to achieve that
No goals, no motivation. Most forex traders list their goals of trading forex in forex trading plans, for example, they may set the goal of earning 50,000$ within a year. With clear goals, forex traders know exactly what they want from forex market and they tend to try their best to achieve their goals.
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http://www.ikonfx.com/forexblog/forex-trading-plan-the-first-step-to-successful-forex-trading/
2012-03-20
Regulations of Financial Institution
When we say forex, we should know some other information. Regulations of financial institutions differ from one country to another. The financial institution regulations are delineated by the government authorities of different countries. The principal objective of these government authorities is to regulate the financial activities going on in the country.
The financial regulations are laid out for the purpose of creating a fair and customer-friendly environment in the financial market of a particular country, which is conducive for economic growth. The statutory objectives of the regulatory bodies of financial institutions include the following:
(1) Market confidence: Sustaining confidence in the financial markets is one of the most important objectives of the financial regulatory bodies.
http://mylovelyforex.wordpress.com/2012/03/21/regulations-of-financial-institution/
Things to Be Noticed in Opening a Forex Live Account
When we consider openning forex live account, we might think it quite convenient and simple because a large number of websites instruct us how to do that. However, things are not that easy. Opening a forex live account is not as simple as those websites instructions: filling out our application, funding the account, downloading the platform and beginning forex trading. Forex traders should notice more in opening a forex live account.
Although some forex brokers announce that they are able to provide anything a forex trader needs in trading forex, forex traders should test what they say by using their forex demo account. Forex demo account can not only help traders to test the platform, but also hone the trading skills of forex traders. What is more amazing is that forex traders can practice with Forex demo account without worrying about losing their own money.
Do not fund the forex live account too much first
When opening a forex live account, forex traders should fund the forex live account after filling out application. Some forex traders fund their forex live account with a big amount of money because they do not want to face margin call or something else but only to see their funds cannot be refunded when they want to get it back. So when funding a forex live account for the first time, do not put too much into the account in order to avoid troubles.
2012-03-19
Asymmetric information
In forex markets and financial markets, one party often does not know enough about the other party to make accurate decisions. This inequality is called asymmetric information. Lack of information creates problem: adverse selection and moral hazard. Adverse selection is the problem before the transaction occurs. It occurs when the potential borrowers who are the most likely to produce an undesirable outcome- the bad credit risks—are the ones who most actively seek out a loan and are thus most likely to be selected.
http://mylovelyforex.wordpress.com/2012/03/20/what-changes-forex-rates-in-forex-market/
Automated Forex Trading System, is it Risk-free?
First of all, automated forex trading system relies on forex traders’ computer, so forex traders have to guarantee the consecutive running of their computers and a dedicated server to run the automated forex trading system for them. If the computer fails to run normally, automated forex trading system will be inefficient, which brings catastrophic losses to forex traders. Secondly, not all things are perfect, automated forex trading system is not an exception; it might make mistakes sometimes. Forex traders have to recognize these mistakes and correct them, which is quite time and energy consuming. Moreover, some charts and technical forex analysis in automated forex trading system are very difficult to understand for forex traders. Thus, forex traders have to turn to professional people for help, which may delay trading or miss the transient opportunities. Last but not the least, forex traders get accustomed to using automated forex trading system to help them in dealing with forex trading, so if problems caused by automated forex trading system appear, most forex traders even do not know how to handle them, which not only will bring much disappointment to traders, but also result in huge losses. For the potential risks forex traders may face, they should make full use of automated forex trading system while receiving forex education by themselves. Only by being expert in forex trading, can they eventually succeed in forex trading.
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2012-03-16
Forex Overview ： Financial institution
Many thing we should know about forex trading. I firmly believe that banking institutions on our freedom than the threat of the enemy’s army more serious.
Financial institutions play a key role in a nation’s financial system.
In simple terms, financial institutions facilitate the transfer of funds from those who have funds to those who need funds. In reality, however, they do far more than simply transfer money and securities between borrows and savers- they literally manufacture a variety of financial products, including mortgages. Now accounts, money market mutual funds, and person funds . Such products allow savers to provide fundse to borrowers indirectly , using whichever savings method is most preferred. http://mylovelyforex.wordpress.com/2012/03/17/forex-overview-%ef%bc%9a-financial-institution/
What Forex Beginners Should Know about Forex Futures
Forex futures, a derivative of forex, is exchanging one currency for another at a specified date in the future and at an exchange rate that is fixed on the purchase date. So in a forex futures contract, currency pairs, delivery date, quantity and price are all specified. Moreover, nearly all forex futures quotes are made against the U.S. dollar. More importantly, forex futures traders are able to exit their obligation of buying and selling forex prior to the contracted delivery date. Forex futures contract helps investors to hedge against risk in the forex exchange.
The earliest history of future trading and present status of forex futures trading
The history of futures market can be traced back to the agriculture market in 19th century. During that period, peasants began to make deals on agricultural products that are not produced yet. Developed to present, traders not only can choose from a large variety of products in futures trading, but also have many choices in choosing the future brokers because there are a lot of future brokers such as IKON who provides super future platform.
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2012-03-15
Forex Trading Education:
Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
http://mylovelyforex.wordpress.com/2012/03/16/forex-trading-education/
The Risk of Using Automatic Forex Trading Software
Automatic forex trading software is the software with a set of analysis and charting tools in order to help forex traders determine whether to buy or sell a currency pair. I have stated the advantages of automatic forex trading software in another article. Automatic forex trading software brings traders a wider range of opportunities and more convenience but is it really risk-free? As an old saying goes: every coin has two sides. Automatic forex trading software, without exception, has its disadvantages. So today I will state the risk of using automatic forex trading software.
Rigidity and absence of intuition in trading
Automatic forex trading software helps traders avoid emotional and psychological interference in trading because it carries out orders to the letter. But it also means that traders cannot use their intuition in forex trading; intuitionis like experience, important in judging the market trend sometimes.
Relying too much on automatic forex trading software prevent traders from mastering forex trade
Some Forex beginners may not want to learn forex trading themselves because they get the help of automatic forex trading software. They might think naively that automatic forex trading software can help them to make any decisions and execute all orders. So they can make profit without bothering to learn forex trading. That is definitely wrong. If automatic forex trading software is a perfect money maker, why do software developers share it with others? Overall, forex traders need to learn some forex trading knowledge instead of overreliance on automatic forex trading software.
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Pay Attention to These in Forex Trading?
We should pay attention to the following details in the Forex trading.
• Objectivity
Objectivity or "emotional detachment" also depends on the reliability of your system or methodology. If you have a system that provides entry and exit levels that you know have a high reliability factor, then you don’t need to become emotional or allow yourself to be influenced by the opinion of pundits who are watching their levels and not yours. Your system should be reliable enough so that you can be confident in acting on its signals. (Find out how your mindset can play a larger role in your success than market influences Trading Psychology And Discipline.)
Using Money Management in Forex Trading to Guarantee Gains
Whether a forex trader can succeed in forex trading depends on many factors. Some people hold that technical analysis is important and some others think that fundamental strategies are decisive. Money management in forex trading is always ignored for various reasons; however, without proper money management in forex trading, traders tend to lose money. To put it plain, money management in forex trading is defending traders’ accounts from losing and controlling in and out of the accounts. The following are some useful money management tips in forex trading:
Some forex traders may say that their broker promise them to start trading with as little fund as 200$ in their account. Do not be happy too soon. Forex trader who trade with 200$ in their account may get a margin call immediately after they start trading. It is wise for forex traders to deposit a reasonable amount of fund into their trading accounts.
Calculating potential risk and then deciding how much to invest
Before every trade, forex traders should calculate their potential risk and see if they are capable of bearing that. Do not take risk that beyond traders’ assumption in forex trading; or else it is possible for forex traders to be thrown out of the game. After predicting the risk, forex traders will know how much they can afford to invest.
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2012-03-14
balance of payments model
Let’s introduce some forex information. This model holds that a foreign exchange rate must be at its equilibrium level-the rate which produces a stable current account balance. A nation with a trade deficit will experience reduction in its foreign exchange reserves which ultimately lower (depreciate) the value of its currency. The cheaper currency renders the nation’s goods (exports) more affordable in the global market place while making imports more expensive. After an intermediate period, imports are forced down and exports rise, thus stabilizing the trade balance and the currency towards equilibrium.
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http://joyforex.wordpress.com/2012/03/14/theories-of-exchange-rate-determination-balance-of-payments-model/
What are the Most Commonly-used Forex Terms for Forex Beginners?
I have written an article about forex terms with the similar title, in which I explained some of the most commonly-used forex terms for forex beginners such as leverage, pip, margin etc. however, there is no end to forex learning; understanding more forex terms is vital to forex so I will explain some most-commonly used forex terms further for the reference to forex beginners.
Lot: the standard size of a transaction; one standard lot is equal to 100,000 units of the base currency, or 10,000 units if it is in a mini account and 1,000 units in a micro account.
Position: The amount of currency owed by an investor. The position can be flat or square, long or short.
Long position: When a forex trader buys a currency of a particular country, assuming that the price will increase and he will sell it off later, then it is said that he is in a ‘long’ position. The trader aims to make profits by the rising price of the currency.
Short position: if a forex trader sells a particular currency because he fears that the price of that currency may go down; then it is said that he is in ‘short’ position. When a trader is in short position he earns profits when the market declines.
Spread: The trader buys the currency at a particular price and then sells it at a different price. The difference between the purchase price and the selling price is called spread.
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2012-03-13
Credit Information
The terms commercial credit also called commercial lending is used similarly in commercial trade, known as “trade credit”, to refer to the approval for delayed payments for purchased goods to a company, or a ban loan to a company. In the way of paying, Commercial Credit includes two kinds: Remittance and Collection commercial credit is corresponding social trust and evaluation to the economic ability of business entity. Quality as well as commercial credit is the life of enterprises. Enterprise commercial credit is an important factor to weigh the forex market economy development level of a country.
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| http://joyforex.wordpress.com/2012/03/13/credit-information/ |
8 Steps to Trade Forex for Forex Beginners
Forex trading step No.4: choose a reliable forex broker and platform
Although there are many forex brokers and various platforms for forex traders to choose from, it is not easy to choose a reliable one. Going to forex forum, blogs etc. makes it easier to find the best broker and platform. IKON is regarded as a reliable forex broker who provides reliable platforms to a large number of forex traders.
Forex trading step No.5: open a demo account
Many forex beginners might be skeptical about demo account at first. But it really is a good way to practice forex trading if they try them. A forex demo account provides real time trading price and charts, extensive market analysis and market news. In total, a demo account offers all what a live account have. However, the difference is that traders do not need to trade with their real money if they use a demo account, thus they do not need to worry about losing their own money for lack of experience in forex trading. On the contrary, if they make a big fortune with a demo account, accordingly, they cannot withdraw and spend them.
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2012-03-12
How to Make More Profit in Forex Trading
A reliable broker will help yield twice the result with half the effort
While the laptop is an imperative thing in forex trading, as I mentioned above; a respectable broker will aid forex traders to get what they want to know, for example forex strategies, analysis etc. because most top brokers as IKON provides reliable forex platform for forex traders. Forex traders are able to open forex demo account to practice with and gain experience without opening their wallet.
Trading right currency pairs and trading in proper time is beneficial
After practicing with forex demo account, traders get skilled in forex trading and then can choose to trade forex for real. But there are many types of currencies at forex traders’ choice. So how to choose the best currency pairs for forex beginners? In general, most traders trade the most liquid seven currency pairs in the world, which are four “majors” and three commodity pairs.
Four majors: EUR/USD (euro/dollar), USD/JPY (dollar/Japanese yen), GBP/USD (British pound/dollar) and USD/CHF (dollar/Swiss franc)
Three commodity pairs: AUD/USD (Australian dollar/dollar), USD/CAD (dollar/Canadian dollar) and NZD/USD (New Zealand dollar/dollar)
Forex traders trade the seven currency pairs because they account for 95% of the total turnover of forex trading and are most active and liquid currency pairs in forex trading.
Then comes to the question of choosing the proper trade time after forex traders make decision on what currency pairs to trade. Generally speaking, the best trading time is up to the currency pair traded, for example, forex traders trade EUR/USD, GBP/USD and USD/CHF currency pairs had better trade between 8:00 am and 12:00 noon EST when markets for those currencies are active.
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A single currency for European Nations
When we look back in 20 years, will the move to the single currency be considered a success？Optimists believe that a single currency will
(1) Eliminate the transactions costs associated with exchanging different currencies.
(2) Promote integration of the various European economics
(3) Enhance efficiency by inducing countries to institute reforms removing anti-competitive rigidities in labor markets and other areas. These reforms will move the nations further toward free-markets capitalism. European political clout in world affairs may increase, and the euro may come to raval dollar as premier currency in world markets.
If u want to know more about forex knowledge , you can click here:
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| http://joyforex.posterous.com/a-single-currency-for-european-nations |
A reliable broker will help yield twice the result with half the effort
While the laptop is an imperative thing in forex trading, as I mentioned above; a respectable broker will aid forex traders to get what they want to know, for example forex strategies, analysis etc. because most top brokers as IKON provides reliable forex platform for forex traders. Forex traders are able to open forex demo account to practice with and gain experience without opening their wallet.
Trading right currency pairs and trading in proper time is beneficial
After practicing with forex demo account, traders get skilled in forex trading and then can choose to trade forex for real. But there are many types of currencies at forex traders’ choice. So how to choose the best currency pairs for forex beginners? In general, most traders trade the most liquid seven currency pairs in the world, which are four “majors” and three commodity pairs.
Four majors: EUR/USD (euro/dollar), USD/JPY (dollar/Japanese yen), GBP/USD (British pound/dollar) and USD/CHF (dollar/Swiss franc)
Three commodity pairs: AUD/USD (Australian dollar/dollar), USD/CAD (dollar/Canadian dollar) and NZD/USD (New Zealand dollar/dollar)
Forex traders trade the seven currency pairs because they account for 95% of the total turnover of forex trading and are most active and liquid currency pairs in forex trading.
Then comes to the question of choosing the proper trade time after forex traders make decision on what currency pairs to trade. Generally speaking, the best trading time is up to the currency pair traded, for example, forex traders trade EUR/USD, GBP/USD and USD/CHF currency pairs had better trade between 8:00 am and 12:00 noon EST when markets for those currencies are active.
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