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.
Personally, I choose the number of pairs of my mood for trading, and here's my strategy, and I like that with a broker Amarkets where you can choose the one you need with more than 250 financial instruments
I am also more of a safe player, trade pairs with positive correlation. USD/CAD is my fav, also USD/JPY at times, but that’s about it. Tried going exotic on the different currency options on fxview once but turned out to be a bad move, resumed trading the 2 majors. Doing the same on my new pepperstone account as well.
It is better to start trading on those pairs that are easiest to analyze based on news releases. It is also important to have a haven pair that can be traded during times of increased volatility. Also, you can use correlating pairs
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