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Not a good idea to follow many pairs

asidefellow
Feb 05 2021 at 10:13
posts 37
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.
Jamespaul
Feb 05 2021 at 13:00
posts 24
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.
Raheemsterling22
Feb 05 2021 at 13:04
posts 31
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.
CraigMcG2020
Feb 05 2021 at 17:32
posts 353
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.

I did that at the start i used to do some many pairs now i have 3
AliaDare
Feb 05 2021 at 17:55
posts 788
If your trading knowledge is good, then working together with many pairs is not a problem.
Raushelle
Feb 06 2021 at 07:05
posts 23
I prefer focusing on some pairs, rather than dividing the concentration too much. Its better to keep the number low, but the strategies and plans should be top class in my opinion.
asidefellow
Feb 06 2021 at 11:45
posts 37
Raheemsterling22 posted:
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.
That’s what I am saying. When you can test the market with a single pair, there is no need to risk a lot of money and trade several pairs that may cause confusion. Like I started to trade EUR/USD with Fxview and Hotforex. With time, I have increased the number of currency pairs I trade and have also been making some nice returns.
LeonRocky3
Feb 07 2021 at 22:50
posts 29
I use 5 pairs but they to trade only 3 at a time
richardmarcus
Feb 08 2021 at 04:47
posts 104
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.
I think one should concentrate on working with major pairs while trading so that you have enough knowledge and news in hand while placing the trades.
Andronn
Feb 08 2021 at 06:28
posts 90
Many people take a lot of currency pairs for trading, and then they begin to complain that they cannot earn money, because you cannot concentrate on a certain moment of trading and are scattered over many moments.
KnowFinance
Feb 08 2021 at 11:53
posts 85
AliaDare posted:
If your trading knowledge is good, then working together with many pairs is not a problem.
I agree with you, if one has the proper understanding and knowledge to trade with multiple currency pairs, then he should.
Chelsea Blacks (blackChelsea)
Feb 08 2021 at 12:02
posts 125
Do not flow into the opinions of others. If you are an experienced trader and think that you can work on increasing pairs for trading, go for that. I would suggest that try to manage each trade with clarity, most of the time traders get lost which position to open or close. Be careful about that.
Jordan5ith
Feb 08 2021 at 15:37
posts 50
I suggest trading with all pairs at the initial stage and find the suitable one for you and stick to it. It's fair to trade with multiple pairs but be prepared to face the loss and risks involved in it.
MichaelEX
Feb 09 2021 at 10:02
posts 48
Typically, it is best to start off with one pair or two pairs, until you are more comfortable with forex trading . Later, you can trade on multiple pairs which suits you most but avoid trading more than 5-8 pairs, too many things can become a headache.
Sar John (Sarjohn)
Feb 11 2021 at 09:40
posts 187
Obviously it is not a good idea to follow too many pairs, focus on 2-3 pairs so that you can make a good strategy focusing on these pairs only.
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