Hello to the forum, an advice. To do swing trading, how many currency cross should I follow? Some say that following so many cross leads only to confusion, but establishing them before seems a stretch because there may be lateral side
How many strategies are u using and how many pairs do u trade? 0 replies
How many parameters are too many? 0 replies
How many Pairs Should a Trader focus on 31 replies
Pairs of Currency Pairs 4 replies
How many pairs is considered too many? 8 replies
DislikedI recommend you pick two that you get to know very well (I like Gbp/Jpy and Eur/Jpy) and then find three or four that you can switch off/on when nothing is going on. For me, I've found watching more than six pairs becomes labor intensive, since each pair has at least four time frames to cycle through. But I always have Gbp/Jpy and Eur/Jpy on the screen....Ignored
DislikedI recommend you pick two that you get to know very well (I like Gbp/Jpy and Eur/Jpy) and then find three or four that you can switch off/on when nothing is going on. For me, I've found watching more than six pairs becomes labor intensive, since each pair has at least four time frames to cycle through. But I always have Gbp/Jpy and Eur/Jpy on the screen....Ignored
DislikedHello to the forum, an advice. To do swing trading, how many currency cross should I follow? Some say that following so many cross leads only to confusion, but establishing them before seems a stretch because there may be lateral sideIgnored
DislikedIf you're totally new to trading start with just one, get used to it, learn as much as you can about it, trade it, and then slowly expand your horizons.Ignored
DislikedI am newbie and plan to only focus on two pairs - USD/MXN and USD/CAD in the beginning. I am located in the U.S. and I know that Canada and Mexico are the two biggest countries we export too. So it seems logical that I will have a better "feel" for those markets. Although I don't know if any of that matters... I'm REALLY New.Ignored
Disliked{quote} Unlikely...stay away from weird pairs with wide spreads...especially if you are new...also a much higher chance of getting screwed by market makers and huge gaps over the weekend etc...I say stick with EUR/USD, USD/JPY...If you want a faster pair try GBP/JPY or GBP/USD...Keep it simple...I don't even recommend USD/CAD to start with but you probably wont listenIgnored
Disliked{quote} I will listen. I am trying to learn as much as possible before I make any move into forex. I have experience trading stocks, but am completely new to forex. I am going through the babypips course now and I also plan on practicing with a demo account before doing anything. Obviously I'd liked to learn as much as possible from joining this forum too. I still don't even have a complete grasp on the "spread", Leverage, and margins. as I mentioned before, I am REALLY new.Ignored
DislikedTrue. If you're just beginning to learn how to trade don't pic any exotic currencies, because on top of everything else they are also terribly dependent on politics you may know nothing about.Ignored