savehouse Posted October 5, 2013 Share Posted October 5, 2013 any newbies willing to make money from the market should not trade more than 3 pair,i believe trading more than 3 pair will confuse the trader and the market is always having different situation when trading,so i can only advise newbies to just trade few pairs to reduce the pressure of the market and later one can increase his trading. Quote Link to comment Share on other sites More sharing options...
euro Posted October 5, 2013 Share Posted October 5, 2013 There are always classic pairs and we should stick to them like euro/usd, or euro/yen, or gbp/yen or euro/gbp, and so on. They're classic by popular demand and also have low spread and also have great movement for us to profit from so do not do unpopular pairs or else you will regret it. The classic pairs are also bought by many other traders so the volume transactions is higher giving you greater chance to profit. Its confusing to jump around unless you're scalping then its ok. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 8, 2013 Share Posted October 8, 2013 I think that there is one thing we can do and try for the newbie in the forex trading before they choose to trade on many currency pairs here. The way here is to try trading using the demo account. Let us see here if we can make good profit. Quote Link to comment Share on other sites More sharing options...
ivan Posted October 8, 2013 Share Posted October 8, 2013 In fact they should have considered more of the volatile pairs. We can't have trading in pairs if we don't have our trading strategy and we will not have success in trades or good analysis if we don't do it. If a trader do like to have more trades and can monitor many trades with different pairs. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 8, 2013 Share Posted October 8, 2013 I see that beginner or newbie should settle their trading method first before figuring out in which pair they will start trading. It will only give bad result if traders force to trading with many pair while the method they use is not basket trading. So, with many or single pair only basically which is depending on traders trading method. Quote Link to comment Share on other sites More sharing options...
euro Posted October 8, 2013 Share Posted October 8, 2013 Some of them have low volume and high spread making it very not profitable to trade. You will wait forever for it to reach past the spread level so you will not be able to scalp it right away. They are not good for scalping. Some pairs are not good for scalping. Some pairs not in demand so hard to trade and prices do not provide enough movement for you to gain profit or to scalp so stay away from them like eur/gbp as they have the same movement so not a lot of differences. Quote Link to comment Share on other sites More sharing options...
Samar Posted October 9, 2013 Share Posted October 9, 2013 About me, I always trade with EUR/USD currency pair most of the times and that will be really a very good currency most of the traders will be trading with. But as a newbie it is not so safe to trade with all the currencies because some currency will not give you profits and most of the times they will give you loss. Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted October 9, 2013 Share Posted October 9, 2013 It's better for a newbie to focus in one currency pair because seriously it wouldn't be easy analyzing the market so a newbie should pay all of his attention into one currency pair and when he can handle more pairs then that is the time that you can trade with more currency pair. Quote Link to comment Share on other sites More sharing options...
sakai Posted October 9, 2013 Share Posted October 9, 2013 We can have in trading in one pair to focus on it and therefore will be easy to analyze the market to make a good trade. While having more currencies to trade will help you to have well trading and knowledgeable about the different currencies and the chance to make more profits. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 12, 2013 Share Posted October 12, 2013 You can trade with any of the currency pairs easily but some currency pairs will not give you profits and some will not at all have a good execution so i think it is not at all good to risk on all the currency pairs. If you want you can trade with all currency pairs with demo account and see if you are earning profits then you can go on. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 12, 2013 Share Posted October 12, 2013 For me, I am not sure of other currency pairs because i mostly trade with EUR/USD pair and some time gold and other than that i have never traded any currency pairs till now. Most of them say that eur/usd is one of the best currency pair to make huge profits. And most of the times got profit not loss. Quote Link to comment Share on other sites More sharing options...
ivan Posted October 12, 2013 Share Posted October 12, 2013 I think that it's always better to start off with currency pairs that are more popular and there is good information available to help with analysis before jumping to others as a newbie. When you are comfortable then you can move to other currency pairs and take it from there. Quote Link to comment Share on other sites More sharing options...
euro Posted October 13, 2013 Share Posted October 13, 2013 I think that it's always better to start off with currency pairs that are more popular and there is good information available to help with analysis before jumping to others as a newbie. When you are comfortable then you can move to other currency pairs and take it from there. I think that is a good plan. Trading all pairs will be very confusing. I think as an old trader, I'm still confused and only trade like three pairs so why should a newbie trade all of them. A newbie must only trade one or two so they can learn about forex but get use to popular pairs and their behaviors and how they can make money from them. I think trading with euro/usd, or euro/yen are good as they are popular pairs. Quote Link to comment Share on other sites More sharing options...
savehouse Posted October 13, 2013 Share Posted October 13, 2013 For me, I am not sure of other currency pairs because i mostly trade with EUR/USD pair and some time gold and other than that i have never traded any currency pairs till now. Most of them say that eur/usd is one of the best currency pair to make huge profits. And most of the times got profit not loss. Â trading more than one currency pair is not safe,is more like gambling because the trader will be keeping touch on all the pair and easily get confused,well in your case your are not trading much pair which is good if you ask me,compare to some newbies trading 3 to 5 pair with the hope of making profit when trading and end up losing more Quote Link to comment Share on other sites More sharing options...
StevenBendre Posted October 14, 2013 Share Posted October 14, 2013 I do not recommend beginners to trade with currency pairs using a lot because it will only lead to huge losses for them better trade using only one currency pair only because it would have produced a better result analysis and can also be getting a good profit. Trading with different pairs would only be making them kind of get distracted and when they are their chances of losing would be high due to their negligence. Sincerely newbie got to wise when they starting forex trading. Quote Link to comment Share on other sites More sharing options...
StillAlive Posted October 17, 2013 Share Posted October 17, 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 17, 2013 Share Posted October 17, 2013 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 gained much more knowledge and experience trading forex. Quote Link to comment Share on other sites More sharing options...
HarryPotter Posted October 17, 2013 Share Posted October 17, 2013 It will be not easy to trade even in one pair because, we should learn the pair and it's relationship in other pairs which have directly effect in the said pair. It's obvious that we need to learn about other pairs to have better trading because; we will just have limited information in a certain pair which we can't maximize the potential of making profits. Quote Link to comment Share on other sites More sharing options...
standart Posted October 23, 2013 Share Posted October 23, 2013 when traders trade in many pairs, they are apply basket trading. however, its require study the strategy and won't make it work properly if traders less experience. basket trading require high amount of capital to enabling traders spread them margin into many trades and let it floating for particular period. before they close all positions. Quote Link to comment Share on other sites More sharing options...
fxchamp420 Posted October 24, 2013 Share Posted October 24, 2013 Its best to trade the pairs that best suit your trading strategy, also you must factor in money managment to make sure you have enough margin to cover trading alot of pairs.... Quote Link to comment Share on other sites More sharing options...
Bagus Posted October 26, 2013 Share Posted October 26, 2013 when traders trade in many pairs, they are apply basket trading. however, its require study the strategy and won't make it work properly if traders less experience. basket trading require high amount of capital to enabling traders spread them margin into many trades and let it floating for particular period. before they close all positions. The strategy that many traders do but due to trade baskets with the strategy requires a lot of focus on the pair then this strategy will not be easy for us to do so should really be careful also to trade with this strategy because the strategy is also at great risk to open positions in many pair Quote Link to comment Share on other sites More sharing options...
RASTA Posted October 26, 2013 Share Posted October 26, 2013 The strategy that many traders do but due to trade baskets with the strategy requires a lot of focus on the pair then this strategy will not be easy for us to do so should really be careful also to trade with this strategy because the strategy is also at great risk to open positions in many pair true,,, it is not easy to do this trade with a strategy trading baskets even allowed to merchants had trade with profit opportunities better, but of course it must be able to understand a lot of pair Quote Link to comment Share on other sites More sharing options...
Bagus Posted October 27, 2013 Share Posted October 27, 2013 Its best to trade the pairs that best suit your trading strategy, also you must factor in money managment to make sure you have enough margin to cover trading alot of pairs.... stratgy is good is that we do not use a lot of analysis and indicators continue to monitor the news and looking for a partner in our easy forex analysis and tentuny we can be successful with good money management as well ... Quote Link to comment Share on other sites More sharing options...
standart Posted October 27, 2013 Share Posted October 27, 2013 newbies stick with one pair only. unless their strategy able to perform good in other pair. but when newbies strategy work in particular period only. better trade with one pair. or if traders have small capital only, they can't spread the margin into many pairs trade, so better trade with one pair. Quote Link to comment Share on other sites More sharing options...
Bagus Posted October 30, 2013 Share Posted October 30, 2013 newbies stick with one pair only. unless their strategy able to perform good in other pair. but when newbies strategy work in particular period only. better trade with one pair. or if traders have small capital only, they can't spread the margin into many pairs trade, so better trade with one pair. it could be like that, because we know in this trade so traders will need to be able to get a chance of success when they are more focused in the trade so that way they will be able to get the success they want Quote Link to comment Share on other sites More sharing options...
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