Anything with a spread less than 7 pips, I think was my criteria...
EURNZD is a particular pain in the arse. Just borderline spread wise.
And in that I would trade EURGBP against both EURUSD and GBPUSD which makes no sense at all in conventional FX thinking...it's either doubling up my position or hedging it. There will be similar examples in the rest of the pairs.
Thanks for all your replies and for your nice trading performance history. What I would like to know is that are there any struggling traders who have been trying to make money in forex market but have lost or have been losing? I know there are many, but what I would like to know is that are there any among those losing traders who trade more than 10, 15 different pairs manually? If yes, I would like to hear from you. Just send me a private message and will discuss further. Thank you all, keep up the good work!
@tolgupde Trading so many pairs shows lack of concentration, like others say. You can always do it, but there will be so much randomness that I can't see what good it's going to be trading so many pairs. Say you are trading CHF crosses, you will trade EUR/CHF and USD/CHF, and if you trade another cross you will center around 2-3, max probably 4 pairs. What's the point of trading so many, you will divert too much of your time onto other markets, just do one thing and do it well.
Unless of course you are hedging or find some amazing opportunity/idea to move into more pairs. there could be some nice opportunity to move into non-major currencies or rarely traded pairs on some signal or a view that the currency will gain or fall and make up for the very high spread. Hedging is also an idea if certain currency pair has a high or low (depending on what you are trying to do) correlation with your main trading pairs.