Not a good idea to follow many pairs

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 it is possible to do a lot of work pair if you can use trading knowledge properly and maintain discipline with patience.

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.

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.

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.

Absolutely. Focus on 1, 2 or 3 pairs or if there are more they must be corelated.

It is not easy to track all or many of the pairs. Better to stick with 2-3, or even 1 pair is fine.

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.

If one can handle so many pairs that's up to him. However, in my view, trading with 2-3 pairs are enough.

I have 5 pairs but trade no more than 3 at a time

I use 4 pairs for trading. I am very satisfied with trading in these 4 pairs.

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.

It is wrong to trade a large number of currency pairs because there is no way to focus and control everything.

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...

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

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.

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

If your trading knowledge is good, then working together with many pairs is not a problem.

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.