Please take a look around, and feel free to .
Yes, I have also noticed a number of new traders start their trading journey with this trading pair! But I don’t think, it’s a good choice to rely on only one trading pair! No doubt, Gold is risky but not unplayable. Traders should use this kind of volatile trading pair for sure (after enough practice).In Forex history EURUSD is most usable and profitable trading currency pair for all kinds of traders in particularly for the newcomers. The traders always like to depend on this trading pair because of its comfortable spreads, but I think for increasing our trading performance very rapidly we have to move other major currencies besides it.
Generally speaking, some pairs can be better than others. For Example , EUR/USD is pretty volatile and prone to random spikes , at least in my experience . USD/CAD , on the other hand , moves pretty smoothly. That said , it also depend on your strategy and what that strategy requires to be successful.
Gold price is dependent on more factors than the currencies. It makes it more volatile and liquid which can go against your strategy many times more than the currency pairs. Gold is a good commodity to trade in but currency pairs are the best. Do you agree?