Focusing on two pairs is okay. If you go for more than that number, you will lose the track of market analysis and can’t produce a better result.
Big thanks to everyone!!
focusing in one
Start with one and over time you’ll figure out a couple of currencies that are suitable for your type of trading style. Or maybe the currencies that you analyze better than others.
But in general traders who trade currencies tend to pick one to three their favorite pairs and trade them on a regular basis.
The classic question, to specialize or diversify? I personally think it depends on your comfort level and trading strategy.
Starting with one currency pair can be great while you’re learning, as it allows you to really understand the nuances of that particular pair. Once you feel confident, you can start introducing more pairs into your trading mix. Once you get the hang of one, it becomes easier to understand others.
Trading with one currency versus several currencies is determined by your trading style, risk tolerance, available time for analysis, and overall trading goals. Some traders may find success by concentrating on a single currency, whilst others may prefer the diversity and flexibility that comes with trading many currencies. When making this selection, it is critical to thoroughly consider your strengths, interests, and market conditions.
I suggest you trade with multiple currencies and practice with different currency pairs. In this way, you can know the market better and handle it.