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Not a good idea to follow many pairs

Jan 24, 2021 at 13:12
905 Views
29 Replies
Member Since Jul 19, 2020   751 posts
Jan 24, 2021 at 13:12
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.
Member Since Jul 20, 2020   298 posts
Jan 24, 2021 at 14:50 (edited Jan 24, 2021 at 14:51)
I think it is possible to do a lot of work pair if you can use trading knowledge properly and maintain discipline with patience.
Member Since Jul 23, 2020   869 posts
Jan 24, 2021 at 17:27
Forex market offers too many pairs to trade. But it is not necessary to trade all of them, traders only need good understanding of one or two pairs to make consistent money.
Member Since Aug 07, 2020   75 posts
Jan 25, 2021 at 10:12
The forex market provides a very large opportunity for parking, but it seems to me that it is better to take the minimum volume so that your profit is good enough, with a certain practice and experience, you can and increase.
Member Since Jul 23, 2020   759 posts
Jan 25, 2021 at 18:44
UweMoench posted:
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.
Those two are also my favorite pairs. I also trade with other major pairs.
Member Since Oct 20, 2018   300 posts
Jan 26, 2021 at 20:36
Absolutely. Focus on 1, 2 or 3 pairs or if there are more they must be corelated.
momchil_slavov@
Member Since Dec 11, 2020   110 posts
Jan 28, 2021 at 07:19
It is not easy to track all or many of the pairs. Better to stick with 2-3, or even 1 pair is fine.
Member Since Nov 08, 2019   26 posts
Jan 28, 2021 at 07:46
UweMoench posted:
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.
Pretty much I am agreeing with you. It is always good idea to start trading with just single pair and if that pair is not to your liking, you can always go for another pair til you find the right one.
Member Since Jan 07, 2021   23 posts
Jan 28, 2021 at 07:57
If one can handle so many pairs that's up to him. However, in my view, trading with 2-3 pairs are enough.
Member Since Jan 13, 2021   29 posts
Jan 29, 2021 at 23:19
I have 5 pairs but trade no more than 3 at a time
Member Since Jul 19, 2020   788 posts
Jan 29, 2021 at 23:55
I use 4 pairs for trading. I am very satisfied with trading in these 4 pairs.
Chelsea Blacks (blackChelsea)
Member Since Jan 22, 2021   125 posts
Feb 01, 2021 at 12:22
forextrader777 posted:
I also think that trading too many pairs can be a bit complicated. Personally I prefer EUR/USD and USD/JPY.
Yes I agree to you, for the beginners 2-3 major pairs would be fine.
Member Since Nov 05, 2020   54 posts
Feb 01, 2021 at 12:44
It is wrong to trade a large number of currency pairs because there is no way to focus and control everything.
Member Since Jun 25, 2019   9 posts
Feb 02, 2021 at 07:16
I also do focus just on 1 Pair. I think it's crazy how some people find the time to look at so many Pairs...
lovefortrading (perryjohn765)
Member Since Sep 12, 2017   238 posts
Feb 02, 2021 at 07:52
we cannot say it is for all the cases. one can have the capability to trade on multiple pairs depending on the knowledge and keenness to work
Member Since Nov 07, 2020   34 posts
Feb 04, 2021 at 13:05
Yes!! I only trade EUR/USD and USD/JPY. The returns on these are good at times and I find them to be quite profitable. There is a lot of work that goes into the technical analysis but overall these are my go-to pairs.
Member Since Nov 06, 2020   24 posts
Feb 04, 2021 at 13:28
I mostly go with some major pairs. USD/JPY, USD/CHF, AUD/USD and NZD/USD are some of the primary currency pairs I like to trade. For platforms, I prefer MT4 and MT5 that I’m using with XM, Fxview.
Member Since Oct 26, 2020   37 posts
Feb 05, 2021 at 10:13
Malajind posted:
The forex market provides a very large opportunity for parking, but it seems to me that it is better to take the minimum volume so that your profit is good enough, with a certain practice and experience, you can and increase.
I completely agree with you. You don’t need to trade numerous pairs in the beginning just to lose your money because you need to focus on the currency pairs while trading to make profits. It’s better to test the market with a single pair and trade more with time and experience you gain.
Member Since Nov 06, 2020   24 posts
Feb 05, 2021 at 13:00
Ericdier752 posted:
I keep getting confused between major and minor pairs. I know the basic difference but when I’m trading, at times I can’t figure it out.
The simplest way to distinguish them is to see the USD. When the US dollar is not included in a particular pair, it is called a minor pair.
Member Since Nov 11, 2020   31 posts
Feb 05, 2021 at 13:04
asidefellow posted:
Malajind posted:
The forex market provides a very large opportunity for parking, but it seems to me that it is better to take the minimum volume so that your profit is good enough, with a certain practice and experience, you can and increase.
I completely agree with you. You don’t need to trade numerous pairs in the beginning just to lose your money because you need to focus on the currency pairs while trading to make profits. It’s better to test the market with a single pair and trade more with time and experience you gain.
There is no particular minimum volume to trade and make profits. You must always trade what you are comfortable with. When you gain experience in the market, you get better at making your trading decisions and can make better trades.
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