Is it advisable to trade on all currency pair as a newbie?

[UMOFX IB]

Yes newbie can trade in more than one currency pairs. When they are doing demo practice they should try for all major currency pairs to get experience of trading in these pairs. In one pair some time market is not favorable so they can trade on other. How ever they should avoid to do trading multiple trading at one time.

[riddick09]

Correct. We should done in demo trading the familiarization of the different pairs and to know the difference of the market they have and how to deal with the different market sessions to therefore, fully understand and better trading analysis. Meanwhile, about the simultaneous trading I think it's up to us already and this is mainly because we have our own decisions.

[pepy]

Not a problem just it's too risky. Better to trade with one pair to be focused while trading and we can make maximal profit from pair that we're using now. I also use one pair only when trading with instaforex.

i agree with you about this statement, with focused in one pair i am sure we will be familiar and if we become more familiar with currency pair then i am sure later we know how to get profit there, moving to the other currency before we can gain some profits from one currency pair could be included as not wise decision

[riddick09]

We must first learn how a pair works and how the market and other factors affect the pair. In this way, we can deduce of the different aspects and learn how to deal in the pair like we able to monitor it's average pips movement and usually the factors that influence the pair to move tremendously and what market sessions they are belong or when they are very volatile.

[mesbakh]

i dont recommend it. just tradin pair which familiar for you you know the trend of that pair

[monyitomon]

Well, for a newbie there is still so much to learn and I guess they still not really consistent in the pair that they are trading. So, the first thing that they have to do is to focus with only one currency pair. But when you think that you can do more currency pair then why not? as it will maximize your profits trading with more than one currency pair.

[riddick09]

Not only about learning but also experiencing of the hands-on experience in Forex trading. That's the most important as it's not only in verbal as we need to do action and to know how to make actions in the critical situations in the market like in the volatile market and in the Forex news that has greatly influence the market that we are trading.

[budado]

As long you done it in demo account I don't see any reason why not. Newbies must learn how to trade and the best way to learn is via experiencing trading different type of currencies. In this way you will know which pair is volatile and which pair is just moving side way then each currency you can trade depends on the strategy that is good to use on that particular currency. Later on you can trade in real account with confidence. Knowing which strategy is good for particular currency.

[pepy]

Demo account is okay but if we are in real account then we must think twice, if we don't familiar with it, why we should spend our time with it? and i think with demo account we can try to become familiar with other pairs, it will help us so much to if we want to trade more than one currency pair in real account

[budado]

I advice newbies to explore but make sure you explore in demo account. Be reckless but make sure you learn from it. That's how we can do something good that can make us earn good amount of money in forex. I'm sure the more you experience trial and error in demo account the more you will be successful online. I do hope that in the long run I can earn big amount of money.

[riddick09]

Always to consult first their trading strategy in the demo account before, they can apply or use it in their real trading. That's the best way to tell how most likely the results of their trading in the market. We should definitely filter what could be the best for our strategy through the use of it. And we should have done to invest our time and try as much as possible learn different pairs to know the different market conditions.

[savehouse]

i guess it a gradual process trading all pair,though not with real account but if one want trade all pair as a newbies,i believe the demo account is the best place to do that,though to be sincere i don't think it advisable but one can try it as a trader if he/she has being able to get a trading strategy that is working on other pair,one might try during practice with other account.

[bangcool]

Sometime we are better to focus only in what we trade. In this case, focus only in one or two pair is better for us. We can make more profit by using many chart at once but if we are still newbie, it will only make us confuse in the end. By keeping focus in one or two pair, we will know the characteristic of those pair that can be benefit for our future trade.

[indieover]

It's just to trade using all currency if you are a newbies. You would not be able to learn well if you open position in all currency. It's important to focus in one or two currencies only. More than that then you would get confused and it is such a hard job to monitor all of your open trade.

[standart]

maybe the key point to open position or trade use all pair is chasing profit as many as possible. but unfortunately this technique will be profitable if handled by professional, expert or experienced traders, and not for newbie traders. if traders status still in beginner or newbie, better not focus in chasing money or profit but focus in learning where in this process, use one or two pair only will be better.

[luke1]

To know the history of every pairs in the chart is not easy. It needs huge memory and time to remember. Also, complete data and it has to be concluded in the note for each pair. So, it will be another problem for a newbie actually. Better to choose one or two pairs first. It will be much easier to remember

[indieover]

Yeah it would just add more burden to the newbies if he would require himself to trade in all currencies. So it's much better just to choose few currencies and just try to ask or read which currencies are good for newbies. So that he would be able to focus in just few currency while still learning.

[budado]

Right now I do trade eight different pairs but when I was a newbies I only stick to one pair for three reason. One is that I can only afford or my capital is only good for one pair. Secondly its easy for me to manage and monitor only one pair and the third and most important thing is that I can be more familiar with that pair if I only going to concentrate trading on that particular pair. Anyway my first pair is eur/usd.

[pepy]

So far, i trade with two currecny pairs. I think that is the best thing that i can do right now, even i am not have much time to spend in forex in this month, but overall for mediocre like me, trade with two currency pairs is a good option. but if newbie want, they can do that thing, my advice trade with two at most.

[humanhope]

About me, I focus on trading just one currency pair in my own case. The most popular one is what i am going to focus on which is Dollar / Euro. I will have to forget about others for now until later in life when i have gain much more knowledge and experience trading forex.

[Jeremi]

Well, i do think trading one or two would be more than enough. I don't see the point in trading with so many pairs even if you are a good trader already. And much so if you are a beginner only, better choose one currency till you are good enough to add more currency or to change currency.

[humanhope]

I think that even professional traders don't trade all currencies as one it's really good on a particular pair. The usd is the most traded currencies in the world and almost all the traders go for it than other currencies like yen. For me i will start up to trade with eur/usd.

[pepy]

@humanhope: who know? but so far i don't find any trader that do that, the only one that i find is they trade in 3 or 4 currencies, i have acquintance which is professional traders that make living for himself, and he do that thing if one of currency pair that he choose has a lot of problem.

[Jeremi]

There are many traders do trade in different pairs and most of them do know when it becomes a good day or have hints when it will be volatile. Some pairs are given that most of the traders always trade on it just like the EUR/USD. Thus, some have good strategy to find those related pairs.

[humanhope]

Newbie may laneways is much better to learn all kinds of pairs to be traded so that they can choose which pair that will benefit their trade and which pair is more convenient but the movements were analyzed separately dsalam this pair learn new traders should learn to use the demo account so as not to a loss.