Hi guys! I’m still learning and I want to know which is better: focus on trading with one currency or trading with multiple currencies?
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Hey there! That’s a good question. Personally, I think it depends on what you’re comfortable with and what your goals are. If you’re just starting out, it might be easier to focus on one currency pair so you can really get to know its behavior and make more informed decisions. But if you’re looking to diversify your portfolio and take advantage of different market conditions, trading with multiple currencies could be a good option.
It’s really up to you and what you feel comfortable with. Try experimenting with different strategies and see what works best for you. And don’t forget, learning is a continuous process, so don’t be afraid to ask questions and keep exploring.
What has been your experience so far with trading one currency pair versus multiple pairs?"
I’m learning from 3-4 months so I don’t have much experience. From the start of this journey I was trying to trade with multiple currencies but with not much succes. So now I decided to change the plan😃
I agree with maya95. It depends on your trading goals and preferences. Trading with one currency allows for a deeper understanding of the market, while trading with multiple currencies offers more opportunities for diversification and potentially higher profits.
Not meaning to sound awkward
But if you practice long enough the choice will come naturally
You might wish to stay with the majors as their spreads and margin requirements are more affordable. You might wish to avoid low volatility pairs as their price movements can be very slow.
Your strategy rules will give you some clues. But since nobody else but you knows what these are, you will need to do some trialling. Start with one pair in a demo account to really understand trading and price action. Add a second and trade it through exactly the same strategy and compare what happens.
These both approaches have their advantages and disadvantages… and the choice ultimately depends on your personal preferences and trading style but focusing on trading with one currency can allow you to become an expert in that currency’s market, and you may be able to develop a better understanding of its price movements and factors that impact it. On the other hand, trading with multiple currencies can provide you with more opportunities for diversification and risk management…
Hmm. 
For people starting out, I would definitely recommend trading one currency pair first, until you’re confident enough to explore other pairs. Trading a lot of pairs at once can get a bit overwhelming, especially if you’re just starting to familiarize yourself with the basics. 
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Understanding a currency pair and its movement takes time. So, trading multiple pairs will distract your attention. So, you should focus on only one or two trading pairs for better trading experience.
In my opinion, it depends on your experience. You can trade in multiple currency pairs, but I think it’s better for beginners to trade one pair at a time because you can focus on that pair’s characteristics and factors that affect the price. But as you gain more experience, I think you will be able to juggle between more than pairs to expand your opportunity.
Trading multiple pair will distract your attention from trading. As you have to analyze the market thoroughly for trading, you should select a single pair.
at the same time trading multiple pair can make you confused and distract also. but in demo you can test this approach to see the performance how it works
i use demo account and using here exotic pairs but not in a live at all.
Actually, I don’t focus on multiple pairs because it distracts my attention. I trade EURUSD and never trade gold because it appears risky for me.
Don’t trade multiple currencies because it will harm you in many ways. It will get your equity reduced and take away your concentration from trading.
Why you are so specific about exotic currencies? I think they are more volatile than others.
This incredibly foolish person would like to make an equally incredibly foolish suggestion.
For each trade try trading only one currency pair, using only one time frame, using only one small lot size, and aim for only one profit target of 3 pips. I would suggest using USD/JPY since it takes less funds to get you into a trade. What I mean by that is that US$100 would afford you more trades than say EUR/GBP. The pair also has a reasonable level of volatility. For lot size you could start with 0.02 and if things work out scale it up. Come back and let us know how the experiment went.
It’s obviously better for you to focus on one pair because if you do so, you can gain better idea about a certain pair that will help you understand the movement of that particular pair.
I don’t go for trading multiple pairs because I saw it drastically reduces the equity and requires much effort to recover the equity.
Trading a single pair is comfortable and secure for traders because if a trader trade multiple pairs, he cannot focus on every single pair individually.