standart Posted September 18, 2013 Share Posted September 18, 2013 better if newbies focus in one pair till they are get used with the pair before they are jump to the next pair. but if they are willing to use basket trading strategy where use many pair at a time, they can trade with many pair because its part of strategy. but if they are not use basket strategy, better trade and focus with one pair. Quote Link to comment Share on other sites More sharing options...
euro Posted September 18, 2013 Share Posted September 18, 2013 better if newbies focus in one pair till they are get used with the pair before they are jump to the next pair. but if they are willing to use basket trading strategy where use many pair at a time, they can trade with many pair because its part of strategy. but if they are not use basket strategy, better trade and focus with one pair.  I guess you can use multiple pairs since the market is different all the time and even if your good, favorite, performing pair won't perform at all condition so stick to what works. You will decide for yourself after some experimentation with the trends. Some day, euro/usd will not have good trends but with yen it does so I guess I will look at the chart and whichever has a good trend I will trade it. I don't limit myself to one pair only. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 20, 2013 Share Posted September 20, 2013 For newbie i think it is better to start with one pair currency, when you gain more confidence i think it is good to take other currency pairs which profitable, I have plan to switch from EUR/USD, and i think we can see that USD traded in many currency pairs. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 20, 2013 Share Posted September 20, 2013 Well, I see that if the goal is learning, it doesn't matter as far as newbie trading in demo account only. but it will only waste the newbie time in learning and in this case, better newbie choose one pair only and stick to learning with it till understand the habit before jump to another pair. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted September 20, 2013 Share Posted September 20, 2013 If the traders have some experience in other currency and that currency truly gives them profit i think that is not a big deal, switch to the other currency pairs is not a sin for traders, just make sure that they know what they did and also with more currency pairs at least we will gain experience there. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted September 21, 2013 Share Posted September 21, 2013 We can trade with all the currency pairs. If we know how to trade then all the currency pairs are same and we can trade them. There will be some currency pairs which will not give profits to the traders so it's better to avoid that currency pairs most of the times. I suggest EUR/USD currency pair to be the best one for newbie traders to trade with. Quote Link to comment Share on other sites More sharing options...
ivan Posted September 22, 2013 Share Posted September 22, 2013 At first we have to know is that are we able to familiar or recognize those pairs because, if we don't know how the trading there then, we can't make good analysis or not have good chance of profits. We should be wiser to have major pairs before other pairs like those exotic pairs that rarely to have analysis or signals from other traders. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted September 22, 2013 Share Posted September 22, 2013 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 doing trading multiple trading at one time. Quote Link to comment Share on other sites More sharing options...
budado Posted September 22, 2013 Share Posted September 22, 2013 Its good to try it in demo account. Just to see and feel how each pairs react. In the long run its still learning experience that going to make good income in forex trading. I do believe that we really need to trade all the pairs that we can trade in order to make good profit. I do hope I can sustain and maintain my trading account in forex also by trading as many pairs as I can. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 23, 2013 Share Posted September 23, 2013 I think that 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. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 23, 2013 Share Posted September 23, 2013 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. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted September 23, 2013 Share Posted September 23, 2013 We have to 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. Quote Link to comment Share on other sites More sharing options...
budado Posted September 24, 2013 Share Posted September 24, 2013 Making big money in forex trading starts in learning. So I do believe that we can make big income in forex if we know how to trade on each pairs. I do believe the more we trade using different pairs the more we can make good profit as we can choose which pair to trade to make good income in proper time. For example you can pick which one is best to trade. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted September 25, 2013 Share Posted September 25, 2013 For a newbie there is still so much to learn and I guess them 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, it's okay, as it will maximize your profits trading with more than one currency pair. Quote Link to comment Share on other sites More sharing options...
ivan Posted September 25, 2013 Share Posted September 25, 2013 I see that as long you done it in demo account I don't see any reason why not. Newbie 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. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted September 25, 2013 Share Posted September 25, 2013 It's advisable 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. Quote Link to comment Share on other sites More sharing options...
Samar Posted September 30, 2013 Share Posted September 30, 2013 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 gained much more knowledge. 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. Quote Link to comment Share on other sites More sharing options...
sakai Posted September 30, 2013 Share Posted September 30, 2013 If you are a beginner only, better choose one currency till you are good enough to add more currency or to change currency. it is not always good to trade on so many currencies here. Because there are too many pairs will give the trader no focus at all here. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 1, 2013 Share Posted October 1, 2013 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. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 1, 2013 Share Posted October 1, 2013 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. Quote Link to comment Share on other sites More sharing options...
ivan Posted October 1, 2013 Share Posted October 1, 2013 For me, it is necessary to trade more than one pair. You can trade as many pairs as you want. However, due to the different rates and different changes that each market goes through, it probably isn't advisable. I am going to stick with a certain pair that I think is my best pair. Quote Link to comment Share on other sites More sharing options...
Samar Posted October 2, 2013 Share Posted October 2, 2013 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. Quote Link to comment Share on other sites More sharing options...
sakai Posted October 2, 2013 Share Posted October 2, 2013 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. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted October 2, 2013 Share Posted October 2, 2013 It is a good thing to know about many pairs traded on forex. But, as a newbie, or even a trader, it is not always good to trade on so many currencies here. Because there are too many pairs will give the trader no focus at all here. And then even no profit can be gained here. Quote Link to comment Share on other sites More sharing options...
uncle gober Posted October 3, 2013 Share Posted October 3, 2013 I think we should prefer to trade in a currency pair first. Understand it so we can get maximal profit. It's too risky if we trade in more than one currency pair while we are still new in forex trading. I'm not a professional trader, but i trade in 4 currency pairs. I usually trade in EU, GU, UJ and EJ. Quote Link to comment Share on other sites More sharing options...
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