Focusing on 1 pair? - Page 2
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  1. #11
    Join Date
    Jul 2012
    Location
    Auckland, New Zealand
    Posts
    2,258
    That really depends on you. I would recommend against it, but that is me; others trade one currency pair so don't take any advice from anyone and ask yourself as you need to be happy with it.

  2. #12
    Join Date
    Apr 2013
    Posts
    204
    For beginners it is necessary that they should trade with single pair in the beginning and after experience it well go for other pairs to perform better trading.

  3. #13
    I usually just follow the aud/usd or nzd/usd they move alike ones a little bit more erratic, if i am off these pairs in just scalping a hot hand.

  4. #14
    Join Date
    Sep 2012
    Posts
    547
    Being a naturally contrarian sort, I will just disagree with most everyone else. I like to trade trends. I don't care which pair I trade as long as it is trending. The more the better. By limiting myself to one pair and one pair only I may be missing fantastic opportunities on other pairs because the one pair I have locked myself into is flat.

    True, certain pairs exhibit their own, unique personalities such as the "spikey," long wick nature of the GBP/JPY but how hard is it to see that it displays this trait? 2 seconds? Trade 'em all, I say.

  5. #15
    Join Date
    Mar 2013
    Location
    Toronto
    Posts
    504
    Quote Originally Posted by 4xLover View Post
    Should a beginner like myself pick one currency pair to follow and stick with?
    For example, I am new and I am basically just looking at and playing around with GBP/USD. Do you think this is best or should I look at other pairs as well?
    What were some of your experiences when you started?
    Very good question 4xlover.
    You are right following 1 pair at the start, this really increases winning rates I experienced. Just try to watch 1/2 pairs,u do not need to trade but watch them to see what is happening with other currency. For example I mainly trade AUDUSD and sometimes USDJPY and watch EURUSD.So USD is common here and it gives me the idea what USD is doing overall

    Happy trading.

  6. #16
    Join Date
    Aug 2013
    Location
    579 Melrose Street Oakland
    Posts
    50
    Its true that as a newbie one should focus on one currency pair , if they do so then will be expert on currency must and will able to make profit must.

  7. #17
    Join Date
    Jun 2013
    Posts
    186
    ha!

    of all you choose gbpusd to play with, that's a starter to kill.

    try eur/usd, better...

    Quote Originally Posted by 4xLover View Post
    Should a beginner like myself pick one currency pair to follow and stick with?
    For example, I am new and I am basically just looking at and playing around with GBP/USD. Do you think this is best or should I look at other pairs as well?
    What were some of your experiences when you started?

  8. #18
    Join Date
    Sep 2013
    Posts
    23
    I'd say yes. Trading multiple pairs requires skills. When you going to rock on one of the majors, you can try to do the one, that acts same way. And then go wider and wider until one day you figure out you're trading rubles against INR and have no problems with that.

  9. #19
    Join Date
    Jun 2013
    Posts
    186
    but why do people say diversify rather than focusing on one???

    Quote Originally Posted by BearW View Post
    I'd say yes. Trading multiple pairs requires skills. When you going to rock on one of the majors, you can try to do the one, that acts same way. And then go wider and wider until one day you figure out you're trading rubles against INR and have no problems with that.

  10. #20
    Join Date
    Sep 2010
    Location
    Cheshire, UK
    Posts
    1,807
    Quote Originally Posted by krafty View Post
    ha!

    of all you choose gbpusd to play with, that's a starter to kill.

    try eur/usd, better...
    I've been trading only GBP/USD for the past five years with quite possibly higher returns than your average retail trader. Nothing wrong with it at all, it's just a misunderstood pair

    Although I don't go any less than 1H when carrying out analysis, any less and I find noise starts to kick in.

    Currently in a short from 1.5700, TP set to 1.5640, SL 1.5730, SL moved to BE at 1.5670 - See how this pre-European trade figures out. Would like to see the 1.5730 intra-day option barrier hold up for today.
    Last edited by Jezzode; 09-10-2013 at 05:31 AM.

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