How many currencies do ya'll watch?

I’m just wondering, on average, how many currencies ya’ll watch in one day.

I stick to five pairs; EUR/USD, AUD/USD, GBP/USD, GBP/JPY, EUR/JPY

It really depends on the time sometimes, I find myself trading the AUD pair the least but I still like to keep my eye on it.

Currencies are not the same as pairs.

You should be watching all of the currencies.

It depends what markets you trade.

If you trade Crude Oil futures you need to watch USD/CAD and CAD/JPY pairs.

If you trade the “Swissy” you need to watch all CHF crosses with the majors.

If you trade the “Greenback” you need to watch all major cosses, Crude Oil futures, Gold, the “Loony” and the “Aussie”.

I trade Crude Oil futures, the “Swissy” pairs, the “Loony” pairs, the “Aussie” pairs and I watch all of the above.

I usually watch one or two , maybe three, I like to focus on one at a time

I trade one pair, keep a very close eye on two others and try to keep relatively up to date on another three.

I used to try and do 5 at a time but I kept making mistakes because of trying to do too much at once. Now I only ever trade one pair at a time - EUR/USD usually. I find it helps me to focus a lot better. Obviously not everyone is the same though.

I jump around from currency pair to currency pair. Sometimes I think I have trading attention deficit disorder :). If I were trading intraday (as I used to with EUR/USD) I would focus on one pair but my trades are now days to weeks at a time so I keep an open mind to fundamental and technical developments on anything.

I trade one pair, but watch two more… i trade the GBP/JPY and watch GBP/USD and USD/JPY…

I also try to focus on 2 or 3 currencies� more than that is too much for me. And I also stick to the most popular ones, usd eur jpy cad aud� I don�t like getting fancy :wink:

When using longer time frames… I will watch several, perhaps up to 20 pairs…

But using smaller time frames… I seem to be limited to one or two…

I have discovered that I would rather focus on one closely… I have made some disastrous errors trying to trade more than one on a fast time frame

20 pairs (have never given thought to how many currencies that totals, but I think you probably mean pairs anyway), while I typically place trades in about half of those. Which pair or pairs when and why is a topic of more detailed discussion.

I think we all have a favorite setup that we watch for when observing a few pairs.

I am a trend follower so I like to see a first lower high after an uptrend, to me that confirms a trend change.

I don�t think it depends strictly on the amount or pairs or currencies, if your plan is good and you stick too it then you�ll be ok. Is your strategy that you have to pay attention to, not the pairs. They are a part in your strategy plan, mine contains few pairs at the time, yours for instance, depends on general trends rather than specific currency pairs; although we al have our fave, as in everything :slight_smile:

Watch or trade?

I watch the major pairs but I only trade gbpusd.

[I][B]Put all your eggs in the one basket and — WATCH THAT BASKET. [/B][/I]

  • MARK TWAIN

I was watching about 9 pairs at one time and started doing really well over a 6 mons period. Then someone advised me to just watch & trade one pair, but when I did that for another 6 mons period, I really struggled and have not been very successful at all.

So now I’m going back to 6 pairs, but this time I’m paying more attention to the ones that are more correlated and lately my results have improved. Also, since I mostly trade the Asian session, prices don’t tend to move as drastically except around news times which I avoid anyways.

By trading correlated pairs, I can then use the same trading method, and watch what one or 2 pairs of the pairs are doing more closely. Then if my signal is triggered, I can open the same trade on them all. Some pairs may not move as well as the others, but the ones that do should compensate for the ones that don’t. The strategy also compensates for not picking the right pair.

Again, this is what I’m finding for the Asian session which may not be necessary/suitable for other sessions that move much better in comparison.

:slight_smile:

I watch and trade the crosses between the four majors. Keepin tabs on six pairs is quite enough for me.

You watched a specific pair or it depended on the trend or in the moment?
I think that more than one pair gives you more coverage, if u trade only one and doesn�t go as you expected, you have nowhere to back up that bad trade, but if you had a position on another one then at least, you�ll get even. That�s my theory

I tend to watch the EU, GU, GJ and EJ. I am not a fan of the com dolls, and i like the faster movement that these offer. I have noticed that I usually only have a trade or two open at a time and my attention is usually focused on one or two pairs at a time. Generally, I try to only trade around S/R zones that I have identified, and even though the all track together, I rarely see a good R/R ratio on all the pairs at the same time.

I like to watch EU, GU, EJ, UJ, and the comdolls… it’s a lot and maybe too much I think. We’ll see as time goes on :slight_smile: