How many pairs do you trade?

Beginner Questions
1

Trading 19 pairs a little too much? or it doesn’t matter?

Thanks in advance!!

2

I only trade 2 pairs, When trading to many pairs its hard to get the feel for it, since every pair has it’s own characteristics, volatility, daily high / low, etc. Especially when you are starting out as a trader its better to focus on 1 or 2.

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3

Hi alchemy7g,

Of course Trading 19pairs is too much for a newbie. Its better to concentrate on one or two pairs with tight spreads and once you get confident then you can go with other pairs. But you should have good trading strategy and money management system.

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4

it depends on how much trades you get per week. if you have more than 10 trades per week then you should remove some pairs. but 10 is already a lot

5

I trade 8 pairs. I do not believe that 10 trades per week is too much actually I do not believe in over trading at all. I want to have as many possible setups as possible each day. Also since I work on higher TFs it make take a while before a trade triggers in 1 or 2 currencies. But you have to be very confidant in your self and know how to adapt your system to different situations. Each pair will be at a different stage of the cycle, ranging trending correcting or accumulation distribution etc. I believe it’s these traits that people neglect and just carry over from one to the other and get burned. For example this week in fiber was very good for me because it’s stage changed and I was able to adapt. It broke out of it’s range and the began to correct. If you can see that and realize were each currency is and play each one in it’s own way based on what it’s showing you yes you can have 19 currencies or more.

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6

I trade majors and crosses, and I think that, provided you have strong discipline to not rush into any trades, that it is more beneficial to have more options at your disposal. If you only have 2 pairs you watch, and neither is giving you a good setup, you might be more prone to find a trade that isnt there and lose in the market. Now with discipline, you have 10-20 pairs you can glance at, and through process of elimination pick out the BEST setups of the lot, increasing your chances of profit. I trade 1-3 pairs a day, on average 1-2 (which I hold up to three days).

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7

11 different pairs, but a few move identically, so its just about finding the one with best setup. only the low spread ones i use lower TF. the rest higher TF(e.g. audnzd, usdsgd i don’t look on TF below 5min)

eurusd
audusd
gbpusd
eurgbp
gbpaud
eurnzd
eurcad
usdsgd
gold
silver
audnzd