I believe in trading a single pair or two. Most traders apply same strategy to all pairs. They do not try to understand or they don’t know that every has some unique characteristics. That's why once you are expert is one pair, go for a second one, otherwise not.
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Single pair can be good
- Thread starter Kevin Vogt
- Start date
The lower the trading pair, the better. It will be a better understanding of that pair.
It is best to trade with one pair. Because the more pairs you trade, the more complicated the trading will be.
If you want to become perfect in this platform, you have to make a good and profitable plan.
A broker is the most important element in the trading. If you choose the wrong broker you can lose all your money. So be careful when you are going to choose a broker for you.
If you have proper knowledge, you can make a good amount of money from a single pair.
The more self-discipline you have, the better. I think it is necessary to create a trading plan using the right strategy with a few pairs.
Single pair trading can be profitable if you have confidence enough.
Choosing a pair is one of important part in trading. every pair have different movement form and to study a pair maybe will consume a lot of time. so a trader should not jump to another pair when they still not understand the habit of previous pair.
Best pair is what you understand the most. Every pair has its own unique pattern whether we understand it or not. To find that we need to observe that pair for long time. I personally find GBPUSD comfortable. It doesn't mean you have to like it.
I still trade with one pair only and would also suggest all, especially the newcomer, to trade one currency pair and plan several strategies. Backtesting them is very important.
Many traders want to trade many pairs. However, it's not recommended to trade too many pairs. The trading of a few pairs will give more information about the pairs as you study these pairs over an extended period of duration.
We will need to make use of such kind of currency trading pairs that are more profitable for us.
Yes, trading with a single pair can be more beneficial because every pair requires a different strategy. How you trade EUR/USD may not be the same way you trade with USD/CAD. When you narrow down to one pair, your whole focus is on one pair, which can help you get better at its analysis. This is beneficial to make decent profits.
I recommend starting with only one currency pair.
When we are doing our trades into the markets we will need to make use of the currency pair which we can easily understand and use.
Making use of the EURUSD will help us in learning about this currency pair in the starting.
Maybe it’s suitable for you; but I have a fixed plan on my trading pairs! I have near about 5 trading pairs, according to my previous trading history! But I don’t have any plan to add new trading pair on my live trading account! On the other hand, depending on only one trading pair could be risky, because you’ll not have good entry point in everyday!
We will need to understand the importance of doing our trades according to a Trading based plan.
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