Where should you begin

If you do not want to dabble in the major currency pairs just yet (which include the EUR/USD, GBP/USD, USD/JPY) then you need to focus on those pairs that are more common or at least that are easier for beginners to get into. This includes any of the following currencies:

• Euro (EUR)
• British Pound (GBP)
• United States Dollar (USD)
• Swiss Franc (CHF)
• Japanese Yen (JPY)
• Australian Dollar (AUD)
• Canadian Dollar (CAD)

Some great pairs that happen here and it does not have to take a lot of expertise to do well. If you are looking at any other pairs, look for those that do not have high spreads. It is important to note that spreads will vary from one broker to another broker, though, so doing basic research is important before you start investing. You can gather all the information you need from a broker's website or from the trading platform itself, if you would like. The key is to make safer decisions until you get the experience.
Multiple Forex Time Frames Is Best
When it comes to trading Forex, it is important to know when to get your information. The most common time frames for investing in the Forex market are five minutes, one hour and daily. However, most people think that they should only choose one time frame and then use that information to make all of their decisions. That could be a costly mistake for anyone who is investing in Forex, though. Many new Forex traders believe that trading in one time frame is the route to go. They have or develop an approach around that time frame and then they jump right in and start testing out their knowledge and skills around that approach. Even though they work hard and do make some progress, they may even stick to their approach perfectly; they eventually find out that the results are too random. For many beginning Forex investors with such an approach, their frustrations elevate as they notice that sometimes their time frame plan works perfectly and then in other times it hurts them incredibly. This happens even when the conditions are virtually the same. What is happening here? There could be many reasons that this is occurring, however it is most common that the problem is that you just do not have enough attention paid to the big picture. In other words, you may know what is happening within one time frame, and know it well, but you may not know what is happening outside of that one time frame. That could equate to substantial problems for you and your Forex strategy.
A good thing to consider is the importance of the data based on the time frame. For example, the one-minute time frame really is the very least amount of information and it is not going to be important to you in the grand scheme. The five-minute time frame is slightly better but not as good as the one hour, and so on. The daily time frame is better than the one hour but not as good as the weekly, and so on. So, what does this mean to your particular trading method? In short, you need to focus on the time frame you have shown, but you also need to look at the big picture as well. You may not have the most in depth understanding of the larger picture, but you should scan over the larger time frames to get an idea of what is happening.
Forex Pairs For Beginner Forex Traders
As you start your Forex career, or even if you are just testing the waters, you will want to focus on pairs that can provide you with the highest amount of profit without being as risky as some others are. The key is to know what your options are and to know which pairs of currencies are the best to focus on. With many different pairs out there in currency, it is easy to get overwhelmed and confused, long before you actually find yourself making a profit. For this reason, it is best to stick with the following three pairs because they provide the best results for most people.
EUR/USD
The euro to United States Dollar is the best combination and it is the most popular pair for most people. It has the lowest spread that you will find in any currency trading. It responds well to basic technical studies of Forex, unlike some other forms, and this makes it easier for those who are new to Forex to learn how the system works. Under normal circumstances in the market, the EUR/USD pair is not necessarily volatile, unless there is some type of reason for this. More so, it has a strong global view and it is covered extensively. All of this equates to less risk and closer stops.
USD/JPY
The combination of the Yen and the Dollar is often a good one for beginners as well. Here, you have about the same low spread as you do with the EUR/USD. This makes it a great choice for any investor. Second, it offers smoother trends and when you compare it to other pairs, this makes a significant different.
GBP/USD
The final match up for beginners is the Great Brittan Pound to the Dollar. This pair moves largely and it can bring more pips in one simple move than either of the other two mentioned transactions. This is the pair to consider for breakout trading. However, there are risks associated with this pairing that need to be noted. You will need further away place stops and the pair can be quite volatile. If you stick with these three pairs, you will find your inexperience with Forex trading is not nearly as hard to overcome as if you were using other trading methods. It is very important to focus on the types of trades that offer some level of risk protection when you are new to trading.