Should I stick to one pair?
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  1. #1

    Default Should I stick to one pair?

    Iím still fairly new to the Forex and I was just wondering if I should stick to just one pair for now. If so, which pair do you recommend I start with?


    Thank you for your help!

  2. #2
    Join Date
    Nov 2006
    Posts
    8,766
    Yes, you should definitely stick to one pair because it allows you to focus your concentration. I recommend starting with the USD/JPY. It's one of the most liquid pair and also one of with the tightest spread (not that it matters since you are DEMO trading right?).

    I'd recommend EUR/USD as well but the Euro-zone consists of multiple countries so trying to learning fundamentals can get a bit tough. With USD/JPY, you can follow just two countries: US and Japan, and that's tough enough.

  3. #3
    I stick to one pair of socks all week. Then I flip them inside out and wear them for another week.

  4. #4
    Join Date
    Dec 2006
    Location
    Estonia
    Posts
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    I trade two pairs e/u and g/u, but i do not recomend anything, cuz basicly, pipdiddy said it all!

  5. #5
    Join Date
    Dec 2006
    Posts
    3
    First off, piplicious is anything but that... more like pipbusted...

    As for the question, I agree, the EUR/USD is good to start off with. I also like trading the cable because itís a little more volatile than the EUR/USD. Be careful though, the spread is slightly bigger.

  6. #6
    Join Date
    Dec 2006
    Posts
    4
    Another benefit on sticking to one pair is that it allows you to become a specialist. Each pair has its own personality and you can really learn its movement if you stick to one pair. Youíll understand its rhythm and youíll start to get a feel for how it moves at certain times.

  7. #7
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
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    327
    Sticking to one pair is favoured, especially you are starting your job in FX.
    EURUSD is much easier, but a good point noted above , you got to study more fundamentals. USDJPY is one, couldn't agree more!

  8. #8
    Join Date
    Dec 2006
    Location
    Norristown, PA
    Posts
    450
    Another view could be that if you only want to trade using technicals and not fundamentals than you can look at many pairs assuming you check to make sure there are no major news announements coming out. I personally love the way all our experts here at babypips trade by mixing the fundamental analasys with technicals.

  9. #9
    Join Date
    Dec 2006
    Posts
    9
    are we all talking about day trading? If not I'd suggest some of the correlated pairs such as EUR/CHF as the pair is bound to give good swing oportunities

    /A

  10. #10
    Join Date
    Dec 2006
    Posts
    11
    for FX-MEN member, you usually do a technical "homework" for many pairs. Do you trade them all based on your analysis, if not all, some of it?

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