Why would one trade more than one pair

Beginner Questions
1

let’s say you have a great working strategy on EUR/USD

why would one bother with other pairs?
I see people working on like 4 different pairs sometime.

Is it lack of patience to get an opportunity on your main pair?

Why spread your gains/losses on many pairs if you can dedicate all your bankroll to only one?

2

Not all pairs show opportunities over the same period of time. If you’re daytrading and EUR/USD offers no viable trades this morning, but three other pairs offer good trades, why not take them?

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3

Hi, testing on other pair is making to minimize overfitting to historical data, besides if you using more pairs you diversify risk in trading. Regards Greg

4

if you have" great strategy working" correct why would want use other pairs

5

Personally I’d be a bit concerned if you have a strategy that only works on one pair. It doesnt make it very reliable and likelihood is itll stop working when the market conditions change.

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6

I’m focusing only on EURUSD right now. Some of the advantages I see

  1. Consistently lower spreads than other pairs - becomes more important on lower time frame trades
  2. Focusing on one pair helps you understand its intricacies in and out- you become more attuned to the times of the day/week your strategy works best on it
  3. It becomes easier to work around (or with, depending on your strategy) news announcements around the pair, as it’s just one pair

However I do see the merit in adding a couple of more pairs over time- preferably uncorrelated ones
This is more so to have backup options if there are no obvious setups on your main pair on a given day

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7

Depends on the time you have to study the markets , I look at many pairs as its my full time job

8

A lot depends on the strategy you use, not everyone can achieve a high result with only one asset, you do not have a strong movement on eur/usd every day. For example, I can’t afford to wait, I need the money every day.

9

If you notice a potentially strong movement on the dollar, it indicates that there is a possibility that this will provide interesting indicators for several currency pairs, which include the dollar.
And you can diversify the risks in this way.

10

Well, this is a very, very controversial statement, because a lot depends on strategy and approach. Of course you can only use one potentially strong pair and earn on it, but will it make any difference - I don’t know, everything is very individual.