Focusing on 1 pair? - Page 3
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  1. #21
    Join Date
    Sep 2013
    Posts
    215
    I myself have decided to focus on one pair. I usually love scalping the EURUSD and USDJPY. Both pairs I understand them very well. I would love to learn about other pairs, but that will be in the future.

  2. #22
    Join Date
    Oct 2011
    Posts
    1,183
    Fib says it all - pun intended.
    Moving on, there's no reason why you should not limit yourself to a single pair especially if you are starting out. However, later on, you may want to try other pairs but for now, just work out the strategies as they relate to the pair.
    Any reason why you opted for GBP/USD?

  3. #23
    Join Date
    Sep 2010
    Location
    Cheshire, UK
    Posts
    1,807
    After typing that trade entry all I was thinking was "oh great, public humiliation here we come"

    I personally trade GBP/USD in isolation as I find I have a reasonable understanding of how it works, being able to identify more times than not when it's trending or range bound. I know 'we' traders can never be right 100% of time, and i'm definitely not suggesting that I am

    I find I get enough trade options per month on average to more than satisfy my requirements - sure more would be nice, just like more money would be nice. However as it is i'm already on the absolute edge of my trade exposure per trade, an early heart attack would not be a nice pay off, lol.

    It all comes down to "If it isn't broken, don't try an fix it"!!

  4. #24
    Join Date
    Jul 2012
    Location
    Auckland, New Zealand
    Posts
    2,258
    Quote Originally Posted by shanza View Post
    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.
    I disagree that it is necessary. It is a personal choice, but definitely not a necessity.

  5. #25
    Join Date
    Jul 2013
    Location
    Pipsville
    Posts
    30
    I agree with starting out with a single pair. Then, if you more or less know how the significant chart levels and behavior probability of that pair, you can move on to correlated ones.

    For example, you can often get the same price action from AUD/USD and NZD/USD or EUR/AUD and GBP/AUD. It all depends on your risk tolerance though. You're basically doubling up your exposure with this strategy. But hey, at least you have maximized your research efforts.

  6. #26
    Join Date
    Oct 2011
    Posts
    1,183
    LOL, I know..currently at the exposure peak so unless a few trades get maxed out today, not planning to set up any new orders unless there's a strong trend. Usually, I stick to USD, CHF, Cable and as for Yen, no thanks, not at the moment.

  7. #27
    Join Date
    Sep 2013
    Location
    USA. Pittsburgh, Pa.
    Posts
    904
    After navigating my way through the many different ways of approaching the market, I finally found my way now. I'm definitely going with one pair. I've been so spread out, not being able to be consistent with anything.
    My pair is GBP/JPY now.
    And I'm very happy with my results so far. Yes, Mr. JohnLeonard, very spikey, but I bet you I will profit more on the spikes than you will. Much more in tune with it than the casual on looker. Oh, and those spikes are $ don't forget.
    Mike

  8. #28
    Join Date
    Sep 2013
    Posts
    13
    If you just a beginner, you need to sharp the skills trading on one pair live. On your demo account you can do whatever you like, but live account is something that you don't want to mess with.

  9. #29
    Join Date
    Aug 2013
    Location
    UK
    Posts
    58
    focusing or concentrate on 1 pair is good strategy but it is depends on trader and the system that they used.for me i just focus on 2 pairs

  10. #30
    Join Date
    Oct 2011
    Location
    Mile after Magnificent Mile
    Posts
    1,819
    At the beginning, I focus only on 1 pair because that's the only my little brain can handle.. Then I upgrade it to 2 -3 pairs.. Though, I only trade 1 pair at a time.

    If I can barrow other brains from you guys then maybe I can do 28 pairs all at the same time with 5 monitors blinking on my screen (red and green color or maybe pink ) so it will be look like Christmas everyday

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