As a trader one of the most important things you need to figure out is what pairs you actually want to trade. Unlike stock traders, we don’t need to scan for stocks that are moving, and usually, we just have a few key forex pairs or indices that we like to trade. In this article, we’re going to cover our favorite pairs to trade the Phantom Trading supply and demand strategy with.


With over 20% of the total volume of forex trading, the EUR/USD currency pair is the most popular forex pair globally. The US dollar is the quoted currency, and the euro is the base currency. This pair appeals to both new and seasoned traders due to its high liquidity and narrow bid-ask spreads.


Another popular currency pair is the GBP/USD, also referred to as the “cable,” which shows how much the British pound is worth in comparison to the US dollar. The third-most traded currency pair on the forex market is the GBP/USD, which is renowned for its high liquidity and volatility. Traders can profit by utilizing the fluctuations in the exchange rate.


Because it is more volatile than other currency pairs, the AUD/USD pair is a good one for beginning forex traders. The Australian Dollar, abbreviated AUD, is paired with the US Dollar, abbreviated USD.


The second-most traded forex pair, USD/JPY, represents the exchange rate of the US dollar and Japanese yen. For traders who prefer a stable trading environment, the pair is renowned for having low volatility. The USD/JPY can, however, be impacted by economic developments in both the US and Japan, so it’s critical to follow economic news.


The USD/CHF is the forex pair that represents the value of the US dollar against the Swiss franc. The Swiss franc is considered a safe-haven currency, and the pair is known for its low volatility and stability. This makes it a good option for traders who prefer a low-risk trading strategy.


The NASDAQ consists of 100 largest US companies by market capitalization in this US index, which is also known as US100. About 80% of the US stock market is represented by it. With a CFD, you can trade stocks, indices, and commodities without directly owning them. This is a great way to trade the NASDAQ index, without the complication of having an actual US stock broker account. This index is also very volatile which means it provides plenty of opportunities for day traders that live in the Americas.


The Dow Jones Index on the other hand contains 30 blue-chip companies that are listed on the New York Stock Exchange. Similar to the NASDAQ, there are CFD products available that offer good spreads and little to no commissions, which makes it an ideal instrument for trading US stocks without actually owning anything!


Last but not least we have spot gold, which is gold against the U.S. dollar. This product also comes as a CFD product with most brokers and prop firms offering them to their traders. Gold is a particularly popular trading instrument for supply and demand traders because of its extreme volatility in most of the trading sessions around the clock.

European and Asian Indices

If you’re located in the UK, or Europe, or Asia, you may be interested in trading instruments like the FTSE, DAX, or Nikkei indices as they provide volatility in their respective sessions. This is a great option if you’re not located in the Americas, or don’t have access to U.S. stock indices.

How Many Forex Pairs Should I Trade When Starting Out?

If you’re just starting out with trading supply and demand, we highly recommend sticking to just 3 pairs or less if you’re trading the 15m timeframe, or just a single pair and single trading session if you’re going to be executing on the 1m timeframe. The reason for this is because there are plenty of opportunities present in any given session throughout the week, and if you bring on too many pairs, you may make the learning process more difficult for yourself.

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Robert Castillo
FX Trader & Analyst
Writer & Editor

Rob is a funded trader from Toronto, Canada, and has been trading currencies, commodities, stocks, and cryptocurrencies for over 7 years. Outside of trading he enjoys making music, boxing, and riding his motorcycle.