A lot of people will recommend that you get a cheap standard reel, such as a Lamson Liquid. I strongly suggest not doing that; there are many budget euro reels available now. Good euro reels have the following attributes.
- Tight tolerances; stops line slipping through the frame.
- Full frame; stops line slipping through the frame.
- Narrow spool; reduces probability of line crossing over itself and getting caught.
- Very large arbor; reduces leader and line memory.
The best budget reels that I know of are listed below.
- Greys Tail (3/4?)
- Greys FIN
- Vision Hero Nymph & Dry
- Danielsson DryFly
Unless you plan to compete, I don't recommend using a euro line. Instead, I suggest just using a regular 3wt line and a mono rig. That will enable you to use the same outfit for dry fly fishing and other light conventional rigs. Look up the Troutbitten standard mono rig, for an explanation of how all of this works.
Do not use a factory made euro leader; they're all garbage. If you want an off the shelf solution, buy a hand tied leader from Troutbitten or Tactical Flyfisher.
Despite being a Troutbitten fanboy, I don't actually recommend the Troutbitten formula(s), for beginners; Chameleon is hard to see and all the different rigs are overwhelming. Below is a formula that I recommend.
- 24ft+ 30lb green OPST Lazar (0.017in)
- 24in 12lb orange Sufix Superior (0.014in)
- 18in 8lb green Sufix Superior (0.011in)
- 12in 8lb Cortland Tri-color (0.009in)
- Tippet ring
- 1-5ft 5x Rio Fluoroflex Strong (0.006in)
You can make that work for the vast majority of tight-line techniques; nymphs, dry-dropper, streamers and tight-to-the-indicator.
As you get better at casting, without fly line, you will probably want to experiment with lighter formulas. Below is what I run, now.
- 24ft 10lb green Sunset Amnesia (0.012in)
- 40in 10.5lb Cortland Tri-color (0.011in)
- 20in 2x Umpqua Perform X Indicator (0.009in)
- Tippet ring
- 1-5ft 3-6x Fluoroflex Strong (0.008-0.005in)