2 part question:
As a Beginner:
-
Is it helpful to limit the amount of trades I take per day to 1 for example? My thought is that maybe it would be helpful learning to take only the best setups.
-
Is it helpful focusing on one pair/ instrument only?
Typically, you make one to five trades in that hour, and your trading day is very short. If you want to trade all day, develop strategies that adapt to various market conditions.
1 Like
It really depends on what type if trader you are - and what you want to be. I know traders who make one swing trade per day, and another who makes about 30 scalping trades a day. It’s what suits your lifestyle.
1 Like
There is a hidden danger in running too many trades. Its not that the work-load, its the risk correlation.
Most currencies are either predominantly risk-on or predominantly risk-off. When risk tolerance changes, the market reacts quickly to events and all pairs are affected to some degree. This amplifies the financial risk of all pairs adjusting rapidly and simultaneously.
1 Like
perfectly said , agree.