trade person 700x391 - 2 of the Best Currencies to Trade in 2018

2 of the Best Currencies to Trade in 2018

History dictates that there are certain currencies that are traded quite a lot these days.

Since the world is full of different types of currencies, the question is how would people know what currency pairs to trade? Which currencies are the best to trade?

There are many different types of currency pairs. First there are major pairs. These are the currency pairs that are traded the most. They have the most transactions happening between them.

Then there are cross currency pairs. These are currency trades that occur without the United States dollar. From a trader’s perspective, these are naturally behind when it comes to trading. Finally, are exotic pairs. These are currency pairs between countries that have less economic standing.

Now, let’s take a look at the best currency pairs to trade this year.

Euro to Norwegian Krone

First of all, we have the Euro to the Norwegian Krone. This pair is not one that people can identify as major. However, there is some interest generating between these two currencies.

The Krone’s rise and fall is attached to the oil prices right now, as it is one of the biggest exports of Norway. At the same time, Europe has been creating some policies that make the trades between these pairs very viable.

usa dollar - 2 of the Best Currencies to Trade in 2018

US Dollar to Japanese Yen

Next up we have the US Dollar to Japanese Yen. This pair is one that can be considered major as it is one of the best traded currency pairs.

An interesting to note between these currencies is that it spikes whenever risks abound. With rising risks around the globe, the price of these currency pairs rises as well.

This year has been quite interesting with what is happening around the globe. Expect big things to happen with this currency pair.

These are only a couple of the best currency pairs to trade in 2018. We hope that these have helped shine some light on which currencies you should watch out for this year and moving forward.

man with graph 700x391 - 3 Tips to Becoming a Great Trader

3 Tips to Becoming a Great Trader

Forex trading is a great way to earn extra money on the side. The truly successful traders are able to earn huge sums of money in a short amount of time.

While the rewards are great, the risks are greater. There is a considerable chance that the money people put in will never be gotten back. We are not trying to scare you though. We are only trying to paint the reality of trading in the Forex.

We hope you aren’t discouraged, and if you are, don’t stay that way. We are here to present several tips for you to become great at trading. Let’s take a look.

Define Your Plan

Like everything in life, a plan is needed in order to be successful. For trading, it is important to have a plan that defines a clear schedule for you, as well as a goal. This goal will be the indication of when your trading career is successful.

graph computer - 3 Tips to Becoming a Great Trader

There are a lot of things that you need to think about when you define your plan. For instance, you have to plot out how much time you can spend on trading, how much you want to reach, and how much losses you can stomach.

For that last point, if you are just starting up, it is inevitable that there are losses.

Get a Broker

Broker’s are an important piece of the trading puzzle. The plan that you have made in the previous point should directly match the broker that you will be getting. The broker needs to be able to validate and help you reach your goals.

There are a lot of different Forex brokers out there. If you don’t know how or where to look, you can start by going to Forex Introducing Brokers. These are companies that will help you find the right broker.

graph forex - 3 Tips to Becoming a Great Trader

Study the Exchange Rates

Finally, you should devote much time on studying the exchange rates. These rates are central to Forex trading. Thus, you should study what currencies are strong and which are weak.

You should also consider studying the many different factors that affect the exchange rate and study those as well.

These are only a few tips for becoming a great trader. Stay tuned for more articles to help you along the way.