Of the six leading currency pairs traded the EUR/USD has many traits that make it the ideal pair to trade for some of the following reasons.
The pair is king in many areas that are advantageous to the retail trader, like liquidity that's available right out of the gate on opening for the week.
The ability to trade a pair that is almost predictable in pattern trading is a trait that pads the bottom line and allows for more time to create setups that pay off by the use of OCO orders (One Cancels the Other) for unattended trade opening. USA traders can't straddle a trade by law.
In trading currencies the trader has lagging indicators and not much else to go on and only has control over Entry, Depth and Exit, of the trade. The EUR/USD has generally enough daily price (pip) range to make it a candidate for Deep trades with less risk than with other pairs that don't have the range or volatility as some describe it.
What this means in general is that with semi-predictable price behavior one can manage a trade with Entry, Depth and Exit strategies that are profitable and have capital preservation characteristics should price turn on the trade.
I'm not saying not to trade other pairs of currency but rather trade what you feel comfortable trading for less stress equals more booked pips.
The learning curve for FX trading is steep and not for everyone, but learning the EUR/USD eccentric behavior can be rewarding be it a micro lot or a deep standard multi-lot trade.
In closing I want to stress that this is not all there is to trading the EUR/USD but some fundamental reasons I trade the pair.
Feel free to contact me for more on my FRAHM methodology of trading the FX market. Long live the Golden Sequence and Holistic Trading Methods.
An instructor drilled into his students to be successful you need to follow the philosophy of "Stops are in, Emotions are Out" and you'll do well.
Please don't ask about the gap in posting, okay!
Next post I'll talk about managing the open trade the way I do it.
-Rod My phone number can be found here: @BuggyPilot