Should we trade a single pair or multiple currency pairs simultaneously?

[gkintl]

There are traders who wish to balance their risk by trading multiple pairs. The counter argument made to this arrangement is that a trader will lose concentration and a negative outcome of trading in any of the pairs may affect the performance overall. Personally, I do not take position in more than two pairs. It will seriously cause a dent in my performance.So, which do you think is better? To trade a single currency pair at any given point of time or trade multiple pairs?

 

[sindarin]

For me that is depend on the news that i faced right now, if that is a high impact news then i will trade with multiple currency pairs at most 5 pairs, especially when it is news about US,like NFP news or GDP news, but if that is only other news like medium impact news then usually i will choose only one currency pair.

 

[Decub]

Personally, I concentrate on the EUR/USD and some of the times (few times though) when I feel I have some good analysis of the market, I try trading on the GBP/USD as well and that is the most I can take at a time. I feel that doing multiple pairs might still create some degree of inconvenience and lack of focus for me.

 

[kaiceaziz]

I do believe sticking with only one currency pair to trade is better than get lost with opening too many orders with different currency pairs cause each kind of pair has it s own conditions of rise and fall. So trading only one pair will make you focus and concentrade and dont get lost and get loss.

 

[UMOFX AIR]

I am different in this thinking I think one should trade in different currency pairs. It does not means that he should change all the time .I mean he should try for more than one pairs because some times we do not find good movement in any pair we can try for other this time.

 

[sindarin]

Right now i presonally trade with multiple currency when i meet with the high impact news and if that is a news that affected USD , if not i prefer to focusing only to one currency pair that affected that by that news, that is all

 

[Pettyeve]

If he trader has experience in trading with different pairs, he or she can do it because it will bring more chances of profiting. But if the trader is not having much experience, better stick with one pair that he or she knows fine and the session it excels.

 

[Svetlana Loboda]

If you are a newbie; trade one-two pair! Then gradually increase the number based on your live trading performance.

 

[anna.serea]

Depending on the system that you are trading iif you get a setup and trigger on 2 pairs that are correlated you need to look at your risk.

 

[Hoang]

I think this varies with individuals, the timing, the event and strategy might be different. So what works for you at a particular time might work same for me.

 

[Lee Mark]

I don’t like to rely on only a single trading pair since, Forex is my main source of income; but I don’t add any new trading chart without demo verification (trading performance). Right now I’m working on 13 trading pairs.

 

[Gito Dinev]

Intraday, I trade mostly one pair. Very effective, because you need to focus on an intraday basis.

 

[Mark Dahl]

It is recommended to start with just one currency pair and the best one for beginners is EUR/USD as it has the smallest spread and there is a lot of information and analysis available on these currencies to make sound predictions on their value.

 

[Gito Dinev]

Professional traders never trade in multiple pairs simultaneously because it will heighten your stress level. Analysis on different pairs must be different and output is also different. So, you should select 2 to 3 pairs where you always make your analysis and open trades.

 

[FXOpen Trader]

Professional traders never trade in multiple pairs simultaneously because it will heighten your stress level. Analysis on different pairs must be different and output is also different. So, you should select 2 to 3 pairs where you always make your analysis and open trades.

Trading in the Forex markets will also take some time so we will need to be ready for learning.

 

[Gito Dinev]

I prefer trading in a single pair because it’s so refreshing. Analyzing multiple pairs is not as easy as it is thought. You can’t properly analyze all the pairs together because it makes your analysis haphazard. So. Select a non-volatile pair as part of your risk-management strategy and go ahead with this.

 

[A_S]

Anything more than 10 pairs, in my opinion, is too many for a new Forex trader or someone who is still struggling. You might be able to stretch that to 12 or even 15, but anything more than 10 can quickly become overwhelming. If you're still struggling, your primary focus should be on the process rather than the profits.

If you're just getting started, stick to 5 to 10 currency pairs. This will provide you with a few high-quality opportunities each month without becoming overburdened. You'll have more time to study and learn the process of becoming successful if you keep a list this size. It will also be much easier to put what you've learned into practice.

 

[FXOpen Trader]

Anything more than 10 pairs, in my opinion, is too many for a new Forex trader or someone who is still struggling. You might be able to stretch that to 12 or even 15, but anything more than 10 can quickly become overwhelming. If you're still struggling, your primary focus should be on the process rather than the profits.

If you're just getting started, stick to 5 to 10 currency pairs. This will provide you with a few high-quality opportunities each month without becoming overburdened. You'll have more time to study and learn the process of becoming successful if you keep a list this size. It will also be much easier to put what you've learned into practice.

I am doing my Forex Trading with the International Forex Broker FXOpen Markets and they have Fast Deposits and Withdrawals

 

[maxlvg]

It depends on your skills. If you are good at trading multiple pairs, you can go ahead but you can make enough profits by trading one or two pairs also if you are doing it right.

 

[Adolpho Sandoval]

To begin, it is best to stick to one currency pair at a time.
And over a period of time and experience one can also opt to trade other pairs too.