hello family, i am jerry and am new to trading and here to learn ,my question is can i focus on pair and trade that always .eg xauusd or crypto]
It is a good idea to fpocus on a single pair when you first start trading. Pick one of the major pairs, not an exotic currency like MXN or RUB, not one containing AUD or NZD (maybe AUD/USD). Research to find a strategy which you can understand using a price chart and which is as objective as possible. Run it in a demo account for a while.
Welcome to Babypips, Jerry.
Yes, I’d certainly start with one pair, if I were you.
AUD/USD is ok. EUR/USD is ok, maybe not the best for trending(?), GBP/USD is ok but a bit more volatile.
I would definitely avoid JPY pairs, gold and crypto, as a beginner. And exotic currencies!
Good luck!
it depends on your preferences actually and your skills but doing only one is way easier
Those two would both be very difficult, risky starting-points, IMHO.
EUR/USD is the one I’d recommend. It has the highest volume of all currency pairs, the best liquidity, the lowest dealing costs, the least slippage risk, etc.
Hello and welcome, Jerry. Starting with just one pair is definitely a good idea. You need to master one thing before moving on to another. During my first year of live trading, I only traded EUR/USD. XAU/USD and cryptocurrencies are too volatile for beginners.
Certainly. Another vote here for EUR/USD.