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Currency pairs on the Forex market
Currency pairs in the Forex market, currency trading via the Internet is in the form of pairs, that is, one currency versus another currency, and this is the logic, in our daily life and during our dealings with exchange shops we exchange between two different currencies, and this applies completely to trading in financial markets.
In the Forex market, each currency takes a three-letter symbol, for example the US dollar.
Major currency pairsThe major currency pairs are named after this because they are the most traded currencies in the world. The volume of liquidity flowing in the trading of these pairs exceeds 80% of the total value of the liquidity that flows daily in the foreign exchange trading markets, whose value exceeds 5000 billion dollars.
Liquidity saves most of the time making it easy and easy to open and close positions any time you trade during the day. This made the major currency pairs the best and most ideal for traders.
Secondary currency pairsOn the other side there is a group of other less well known pairs in the global financial markets. For many, these pairs are not ideal for trading, and are called secondary pairs of currencies, and the volume of trades on these pairs is much lower compared to the major pairs.
Secondary currency pairs account for only 20% of total financial flows and trade in the Forex market. There are very large numbers of dozens of these pairs, they include all currency pairs, except for the major pairs.
The fastest moving currency pairsThe question is frequently asked by traders about the fastest moving currency pairs, as they are suitable for trading, especially for short-term positions. In fact, to me, and throughout my long years in the global financial markets, my studies and repeated research. I can say that fast currency pairs are really the best and most ideal for trading, especially in cases of short-term speculation.
Rapid movements indicate that there is a distinct liquidity that always flows in the markets in order to trade in these pairs, and that the trader can exit from it with a significant profit in shorter periods. The fastest moving pairs are the main currency pairs that we mentioned earlier, in addition to the pairs that include the Japanese yen currency and the pairs that include the pound sterling currency.
For this reason, the pair that includes the currencies of the pound sterling and the Japanese yen is considered one of the fastest moving currency pairs, this pair is “GBP / JPY” so that a large part of the Arab traders is called the crazy for his very fast movement and they prefer to trade it without others .
It is true that fast pairs are a unique opportunity for speculation, but at the same time they may be a reason for rapid loss, especially if the trader is ignorant of the fundamentals of financial markets analysis with its two branches technical and fundamental analysis.
Advice for currency pairs tradersAt the end of this article, we, based on experience, advise traders not to overburden themselves by following up and analyzing large numbers of currency pairs, as this is a waste of time and a distraction. Better than that is focusing on 3 to 5 pairs of the main pairs, or the fastest moving pairs, and then focusing all effort on analyzing it and following up on all the news and developments related to it.
During our work in the Forex market we found that there are numbers of experienced traders, trading on only one pair, and achieving excellent results and profitable profits. They were able to reach a degree of experience in which they are fully aware of the full effects on this pair and the nature of its movements. This of course helped them to predict the trend with great accuracy, and then to enter into successful deals that result in profitable profits, oil trade, gold trade, metal trading, and investment in gold.