I am still a fairly new trader but I am considering expanding my areas of interest. I trade the EUR/USD exclusively right now and I am considering looking at other pairs. For you multi-pair traders, does your overall system/method work across the board for all pairs or do you have to tweak some things between pairs?
What would be some suggestions of some areas of difficulty that I should look out for when “upgrading” to multi-pair trading?
Thanks to all for a great experience here!
They are all charts with similar characteristics so you shouldn’t find it difficult trading them.
This is my first post here but here is my advice.
I would look at all of the pairs. Find the pair that has good movement and is following its trend. I have a couple of pairs that I trade the most but when they start to get a little to complicated I move onto another pair.
Follow the trend and always bet with the trend.
Good Luck!!
If your trading style is technically based, you may find success over different pairs. Especially if price action is what you trade. Candlesticks describe the bulls’ vs. the bears’ battle quite well.
This should go unsaid but fundamentals on one pair don’t neccesarily work for another pair.
Thank you all for your input, I love being a part of this community!
I like technical trading but I am coming to involve more traditional analysis the more that I see its effects on the market. I am probably just going to have extra windows open with different pairs to see if there is any action brewing from a technical perspective. This will give me something to do while the EUR/USD isn’t doing anything definitive. I am bit leery of trading in a pair that I have no awareness of but I think that I will be ok with some quick trades as long as I check the overall trend before making a move and stick to my rules and strategy.
If you like to trade eur/usd, I can heartily recommend usd/chf . It shows a relatively tight inverse-correlation, which can make planing/confirming trades a little easier.
I will definitely watch that tonight, thanks.