[Piphacker]

Originally Posted by 4xStar

As a new trader to forex (just over 3 months) I'd like to hear some opinions from those more experienced .. is it better to focus on one or two pairs and get to know them well, how they move, wait for their setups?

Or is it more advisable to be watching many pairs, learning their interrelationships .. i.e. when the euro goes up, the swissy generally moves completely opposite, so if you feel longing the euro is a good trade, then you may as well short the swissy as well and get a 2-for-1.

And when the jpy pairs are moving in the same direction, you can go long or short all 3 together for even more pips. What about the AUD and NZD pairs and all the cross pairs? Do you miss out by not paying attention to them?

I started by just watching the 4 majors, then added the eur-jpy and gbp-jpy, then when I saw others making great pips trading the aud/jpy, nzd/jpy, gbp/chf etc I tried watching them as well.

Then I just got dizzy.

Now I am thinking it may be better to just focus on one or two pairs and get to know their movements really well because especially if you catch the big moves, like the euro from 1.42 to 1.60 or the gbp-jpy that can move 500 pips in a week .. you can make all the pips you need without caring a fig about what is happening with 10 other pairs...

What do others think?

It's just depend's on your system. Your system must be acceptable by all pair's...Well i am trading with candlestick pattren , TL's , Channel's , & S/R Level's so i dont hesitate to enter in any pair...I am always seeking for my entry apportunity & waiting for singnal from my system & do my best to keep an eye on all pair's...
PipHacker!!!