Successful swing trading depends on spotting the trend the trend at the right moment and riding the trend till its end. But how do you know which currency pair is about to start a new trend? There are many currency pairs. There are traders who choose two or three currency pairs and then only trade them. Overtime, they become experts on those currency pairs.

There a few currency pairs not more than 6 to 7 that are popularly known as the Majors. These are USDCHF, USDEUR, USDAUD, USDCAD, JPYUSD, GBPEUR and one or two more. The interesting thing about these pairs is that almost all involve the USD either as the base or the counter base currency plus more than 90% of the global forex transactions take place in these currency pairs. USD is the most heavily traded currency in the world and it is heavily used in global currency transactions.

When a currency adjusts its value, this is the best time for swing trading as well as position trading and making huge profits.

For example, Japanese Yen JPY was growing stronger and stronger in the last few months. A strong JPY is not good for the Japanese exports. You know that Japanese economy depends heavily on its global exports so a rising JPY was worrisome to the Bank of Japan (BOJ). It intervened to weaken the JPY. Forex traders who were following the USDJPY situation went long and made a lot of profit. Now, determining which currency pair will be the most profitable to trade at the moment is mostly an educated guess made with the help of fundamental and technical analysis.

Meet Mark Soberman! The President of Netpicks who is the Ultimate Swing trader. Visit his UST Blog and you can find which currency pairs are the best right now for trading. The best timeframes for swing trading and what are the best swing trading strategies!

George Soros had made a cool $1 billion by making an educated guess that the British Pound (GBP) was weak and the BOE could not sustain it too long in the market. This simple piece of understanding helped him make $1 billion on his bet in just 1 day! Do don’t avoid learning fundamental analysis if you really want to prosper as a forex trader.

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