Should we trade many pair or focus one pair only? (5)
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  • #1 Collapse

    Should we trade many pair or focus one pair only? (5)
    Originally posted by venkiaries61 View Post
    The beginner should concentrate in single pair. Because, if you concentrate in many pairs then you got confusions which results in disturbance of your learning process. And also trading every day is not possible, if you try to trade every day, then your deals should float some days. So better to trade in right entry point and in trend also.l
    What if the right entry point comes like everyday even right entry "points"...I think whether we trade everyday or not should depend on our strategy.I think if we have a good strategy that allows us to trade daily we should take full advantage of its consistency, but i do agree that newbies shouldn't trade multiple pairs as they may lack the necessary experience...
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  • #2 Collapse

    Originally posted by Skycrewz View Post
    The purpose of this thread is I want to get your views and feedback on my question below.

    Should we do every day of trading only to just a pair of our choice "for example, many traders do trading only to a GU pair only
    only if you can stay try my strategy because i trade two pair and i am really working on myself to see how good i can come out of it i think one or two pair is okay for better understanding of the pair
     

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    • #3 Collapse

      Originally posted by Skycrewz View Post
      The purpose of this thread is I want to get your views and feedback on my question below.

      Should we do every day of trading only to just a pair of our choice "for example, many traders do trading only to a GU pair only
      am say that both condition are never good because it is to hard nevar to impossible you concentrate on many pairs and it is also too bad you only concentrate on one pair therefore am want to say you , you concentrate on 2 or 3 pairs if when go against you trade with other

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      • #4 Collapse

        every one has his/her own preferable pair, but i prefer to use all or most the pairs so you can find alot ofentry signals for buy/sell dailly in that way you can earn alot if you have some kind of money management.
         

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        • #5 Collapse

          we should trade at least with two Pairs because if you lose in one pair the other will be there to support you to some extent. trading with two pairs was not be confused also.

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          • #6 Collapse

            i think for beginner trader have to know charasteristic of main currencies. they can try use some currecies in demo account and select the best curreciencies base on their trading strategy
             

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            • #7 Collapse

              focusing and concentrating on a single pair is good and easy to trade with forex. it is easy also and the getting the trends to predict is easy to do. know information about the all pairs.
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              • #8 Collapse

                I think trading couple of pairs is a good idea Because if we are trading single pair and if the market is moving against us then we face huge risk But if you have open positions from some other pairs then atleast one would give you profits.Thereby reduce the risk

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                • #9 Collapse

                  if you're trading with a hedging strategy, you will observe some of the pair correlation, and it would be very confusing, I also chose a pair and just focus on one strategy

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                  • #10 Collapse

                    the advantage of trading many currency pair is you might find trading opportunities across the pairs while using the same time frame for all of them.
                    for example you trade using H1 and you don't find trading opportunity this hour in EURUSD but you might find it in GBPUSD or in USDCAD.
                     

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                    • #11 Collapse

                      For a better focus on only the 1 pair or 2 pair, when they focus on only the pair with the days you will know how to act, to be a friend to you, know the character and
                      know How to move, only the pair focus on the best so you do not mind distracted from the pair to pair

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                      • #12 Collapse

                        Originally posted by trader03 View Post
                        if you're trading with a hedging strategy, you will observe some of the pair correlation, and it would be very confusing, I also chose a pair and just focus on one strategy
                        Choose 1 pair we better than we choose more than one pair but can't concern and didn't know the characteristic or all pair, but if we know that characteristic and already expert, perhaps trading with a few pair will increase our chance
                         

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                        • #13 Collapse

                          Do not put all eggs in one basket, We have all heard this proverb before,and we may apply it to everything, starting from the options of job, to the egg itself! It's a good philosophy, and certainly applies to the currency pairs in FOREX, Where many of the experts recommended trading in the Forex to begin by focusing on one pair of currency To get used to the atmosphere of the market
                          Although it is not wise to keep all eggs in one basket, You will need to beware of doing business with a lot of baskets,Will become difficult to carry the whole, And the same applies to the currency pairs in FOREX

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                          • #14 Collapse

                            I am personally better we focus only on 1-2 pairs only. Because then we can know the character of the pair. Also still able to keep the money and risk management to avoid a margin call. During all still be arranged, will surely benefit us in the future.

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                            • #15 Collapse

                              Originally posted by zher_albanfsij View Post
                              I think trading couple of pairs is a good idea Because if we are trading single pair and if the market is moving against us then we face huge risk But if you have open positions from some other pairs then atleast one would give you profits.Thereby reduce the risk
                              Well adding more currency pairs to the list doesn't necessarily lower the risks overall especially if the strategies that are being used are bad, which would just make things more riskier for one's account balance..Trading multiple currency pairs can definitely be good for one's account balance but only when he/she has developed good multitasking skills forex wise, have experience and a good strategy in dealing with each currency pair etc...
                               
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