Something I have struggled with throughout my trading career is why should you trade multiple currencies at once? If the ultimate objective is to make money, does it matter how that is done? Does it matter if you do it via EURUSD, NZDUSD, Oil, AAPL etc?
I guess the question I wonder about is, it seems as if the more I try to trade multiple products and currency pairs at once, the less efficient and profitable I am. For example I am currently short EURUSD in a very large in the money profit I hope to continue to add to. I also just noticed a set up in AUDUSD I like. The question is, why should I expand the amount of products I am trading if I still will likely make money either way. The less I try to trade other currencies and asset classes, the more focused I can be on my one trade that has the potetial to double or triple my net worth?
Anyone else have thoughts on focusing on one product versus several?
I guess the question I wonder about is, it seems as if the more I try to trade multiple products and currency pairs at once, the less efficient and profitable I am. For example I am currently short EURUSD in a very large in the money profit I hope to continue to add to. I also just noticed a set up in AUDUSD I like. The question is, why should I expand the amount of products I am trading if I still will likely make money either way. The less I try to trade other currencies and asset classes, the more focused I can be on my one trade that has the potetial to double or triple my net worth?
Anyone else have thoughts on focusing on one product versus several?
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