So, I’m from India and there are limitations on trading here. We can only trade 3 pairs legally. EURUSD, GBPUSD AND USDJPY. So I’m thinking should I focus all on EURUSD and only trade it? Is it okay?
Or, can I make daily profits with trading these 3 pairs?
It is possible to make money trading only one pair, though you will find there are obviously fewer opportunities using the same set-up. Whichever pair(s) you choose, you need a consistently profitable strategy: almost all strategies can be used on almost all pairs. Can you trade a demo account to check out your strategy before you commit real money?
Nothing wrong with trading 1 market , makes you have a sniper approach for trading rather than a shot gun. Just be patient and dont force a trade will be more profitable in the long term
Thanks!!! And yess I’m trying on demo. I’ve taught myself all the price action I trade purely on that.
But as a beginner and considering these limits my goals is just 10 pips per day.
What do you think?
Thank you! Got it. Any strategies for daily pips might be helpful
A daily target of any kind is a pathway to stress, pressure to perform, overtrading, excessive risk per trade, revenge trading and wipe-out.
The only thing you need to focus on each day is following your strategy’s rules to find the best set-ups and execute trades well. Do this and you will be achieving 100% of your daily target.
Work on specific and on a particular pair is best decide. I vote