If you think that you can earn enough through one pair you can stick to it. My broker allows me to trade with multiple pairs so I take the benefit of it and earn a lot.
I don’t see any good reason why would you stick to one currency pair. One currency pair is not going to offer you lot of trading opportunities. I will recommend you to go with the majors.
yes we should avoid to be sticky on one pair . there are many trading pairs make a routine to see them daily and practice on them .You can try 3 to 4 pairs, It will be helpful to you if any pair had bad move you can trade in other pair . Some times for many days any pairs is not suitable for trading if you stick only on one then you will miss trading.
That’s right, bro. With a focus, it can reach a maximum skill in the pair. I think traders should focus from the outset, for example in the GBPUSD. So it will be able to get a steady profit here.
Do not stick to one pair, how can anyone give this as advise? The whole point is to trade strong vs weak. What happens when both EUR and USD are strong or weak. You are not trading an optimal pair at that point. This will result in a range. Why focus on a ranging chart just waiting for movement when there will be other pairs trending like a boss! Trade strong vs weak…
Unless ofcourse you are a range trader. The answer is never simple lol
Of course, in this case very relative. You can focus on one pair or not. However, I think it is better to focus on one pair or two pair. So you will be more time to profit.
From looking at my currency strength charts I can see that I should only be looking to trade NZDJPY,AUDJPY,NZDUSD and AUDUSD
The strong vs weak pairs. Why would I trade anything else giving myself a disadvantage? I believe understanding this point is the difference between a profitable trader and a losing trader.
If you were to bet on a boxing match would you put your money on a 50% 50% match or on the guy who has 50/50 knockouts? It’s the same thing.
If a currency pair has been trending for 3 days and the currency trending is very strong, then why would you not focuse on this pair? People are always trying to pick reversals against the trend which the smart money use SSI as a contrarian indicator to bet against the retail masses.
Sticking to 1 or 2 pairs is preparing to fail. EURUSD is assumed to be the pair to trade why? because it’s the most observed and traded pair. How does this help a retail trader really? Think about it, most traders are focusing on EURUSD and most are losing.
Let the trade come to you. Don’t chase bad setups only because you are looking at 1 pair where no good setups are located…