How many pairs do people concentrate on?

hows it going everybody? question, in your opinion how many currency pairs do people generally concentrate their efforts on? Ive read that one or two is about the maximum a trader should stick with, other articles have said that up to 6 is pushing it. My thoughts were that knowing one is good, but a system that works well on one wont work on another as well. Thanks to all that post!

I’m concentrated on one, EUR/USD pair, because my trading “strategy” is defined by many trades per day (not sure it’s scalping in classical sense, because I have a slightly different approach), so I’m not too dependant on long trends and complicated analysis, which in other strategies don’t allow you to open trades too often, so people feel inclined to find entry points in other pairs until one appears in their favourite. One pair is simply enough for me. The behaviour in other pairs could cloud my judgement while switching to another.

if your strategy is based on patterns / momentum etc - then you can use a large display (or multi-display setup) to put more pairs and ‘scan’ the market for your prefered setups. Once you get used to some setups, it will be easy to spot them. So there’s no problem to watch several pairs for best scenarios - but could be a problem if you get in the ‘same trade’ in more pairs (in those which are highly correlated)

I generally concentrate on four pairs. GBP/USD, USD/CHF, EUR/USD - I trade these because more often than not they correlate with each other which means if you see a setup on one pair and opportunity may show its face on the other. The other pair i trade is EUR/JPY - reason being at the moment they’re good for channel breakouts.

so if you see the same opportunity in two correlated pairs, why bother to trade the correlation pair at all since you could go in double amount on a single one? i.e. : going long EURUSD and short USDCHF at same time, why not going long EURUSD and trade double size?

pairs’ correlation is not really a good thing. If one thing goes wrong in a trade, then it will go wrong on other trades at same time (i.e.: long EURUSD & short USDCHF - if dollar rallies you lose in both trades) so I personally prefer to look for having positions in less correlated pairs at same time, limiting the risk of all turning against me.

I have about 20 or so pairs on my roster that I check out everyday. I look for set ups, and if things look good, then I look for an entry and exit.

Hi Guys,

I have a pretty simple strategy. I have my template on about 8 pairs, and just look for setups, not trading more than 2 at a time, for risk exposure.

I know traders that have more complex systems, and therefore seem to trade less pairs, as more attention is needed per pair.


John :slight_smile:

Personally I only trade one pair, EUR/JPY as it has great strength in wave movements. It also respects technical levels such as support/resistance and trendlines very well.

I do [B]watch[/B] EUR/USD and USD/JPY as buying and selling of these will affect the movement of EUR/JPY

As a beginner, i traded only about 3 pairs. but now i watch and trade 14 all at once watching price patterns and timing my entries. i dont recommend that to anybody with less than a year of live trading experience.

In the end, just depends on what you want to accomplish

1 Pair, I trade 1 specific thing on the GBP/USD, I trade the main opening sessions. I normally make between 0 and 10% per week.

Interesting, i must be very conservative, i started with one and almost 2 years later still trade only one. Eur/Usd

hi paul. eur is fine, but try to add a couple more as eur is ranging past few days, not much movement.

some suggestions e.g. aud/usd, eur/aud, gbp/aud and aud/nzd