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

[EloisDavis]

It is the best option to trade only one pair of currency at a time. If you are a beginner, or even an intermediate, one currency pair at a time is the best option for you. This is because you will have to be constantly updated about the price charts as well as keep a track of the latest news that can affect the forex market in general, or your currency pair in specific.
If you are an advanced trader, it can depend upon you how many currency pairs you would like to trade at a time, as per your experience and skills.

 

[Bahiya Shinam]

Mentality settlement is the big thing that traders can hardly do. You can take deep medication if your mind is not okay after getting losses. Make your mind confess that consistent profit is never possible from any business. Try to trade emotionlessly and make proper decision.

 

[Mecine]

I think it is always a good choice to trade one currency pair at a time. Because the forex market is very volatile, and a lot of factors influence the currency price charts, I think it is a better choice to trade one currency pair at a time. As it is difficult to keep a track of all the factor changes.

 

[LouBega88]

Learning is a low process so don’t get worried quickly; rather stick to trying more and more because it will develop you. The more you learn, the more it will be profitable for you. Learning has become so easier now because of the availability of internet.

 

[Eduardo Lucchese]

Consider geopolitical conditions before trading because it will help you predict the market well.

 

[Oscar Shumack]

Stay apart from scam brokers as they are harmful for you. Whenever choosing a broker, check their certification first.

 

[Alexander Hudson]

The nature of Forex is different from others as it provides you with the flexibility and freedom which is badly necessity for every human being.

 

[Allotheism]

How many pairs can you handle? You can trade with as many pairs as you can if you can monitor them well. There is no restriction. But don’t go running after 7-8 pairs. Be selective. Some traders even trade with one pair and still earn decent profit. Trading one pair has advantages. You have to research only one pair but make sure your pair is liquid.

 

[Nayek Pichai]

Traders should invest more and more time in trading so that they can build a good career from here.

 

[BinarySumo]

When I started trading, I only traded EUR/USD. This gives you an opportunity to understand price movements and have a better focus. With time, it is good to diversify your portfolio, so you don’t miss out on opportunities offered by other pairs.

 

[YellowWitty]

Do not keep your legs on two boats at once, else you will drown! Meaning - focus on pairs that you can handle. I trade with 1-2 pairs. If you are a new trader, trade only one pair. You can buy any one out of EUR/USD / USD/JPY. With experience, you can trade with multiple pairs.

 

[FXOpen Trader]

Do not keep your legs on two boats at once, else you will drown! Meaning - focus on pairs that you can handle. I trade with 1-2 pairs. If you are a new trader, trade only one pair. You can buy any one out of EUR/USD / USD/JPY. With experience, you can trade with multiple pairs.

I am doing most of the trades in the EURUSD.