i guess it all falls down to eurusd and maybe the other two majors, most pairs revolve around eur usd and gbp, but I do like to venture to aud jpy pairs on my hotforex account.
i like to try trade in one pair ...fokus in usdjpy
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That's right trading approach considering you embrace fundamental side of trading analysis as well. I'm not a fan of technical analysis cuz market is dynamic environment and history patterns can't warrant sufficient winning ratio if not confirmed by fundamentals. Gathering and analyzing data on narrow instrument range is easier and more effective than spreading your attention to several directions.
yes...you right..I'll try to trade multiple pair. but i'm always loosing my money.
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Trading with multiple pairs always causes a great loss. But I suggest, you can trade in multiples pairs in demo account to see their performance how it works. it could be supportive you when trading in live
Some years back, I was crazy with trading nearly on every pair I had reach to but I found it too hard to manage and keeping eye on all was just impossible. So, I have now really limited my options and sticking with EU/GU/EJ/UJ and such while I often trade of Gold. I feel this is the ideal lineup of pairs to pick from and really helps up with working, it also keeps it all simple and straight forward and helps us avoiding complicated things.
According to my opinion, I think traders need to select their trading pairs in order to their status of trading! Like, if they are newbie then, they should use only major Forex currencies! I see, maximum new traders start their trading career with EUR/USD, really it’s a good choice! By the way, pro traders can move everywhere even on exotic pairs!
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Joined Mar 2017
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Because of fastest movements I have seen so many traders in particularly the newcomers don’t like to use EURUSD even though it is mainly considered as a most usable trading pair than others. Beginner should choose the currency pair which is more appropriate to the concept of trading that will be used, if you depend on scalping should choose the pair which has lowest trading spreads. Otherwise you can fall a great trouble.
You right mr.mark...now i'm learn to control my emotion in market. Start with litle money.
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I don’t know who you control emotions when trading. You can be emotionless by proper trading discipline and please don’t try to take revenge when fall a huge loss.
{quote} I dont know who you control emotions when trading. You can be emotionless by proper trading discipline and please dont try to take revenge when fall a huge loss.
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Good point. Revenge trading never leads to anything good and the traders who do that usually just end up digging themselves deeper.
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Joined Mar 2017
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Revenge trading is just part of immaturity, nothing without it. Beginners always try to take revenge when fall a great loss especially trade with high leverage due to non sense planning.
Revenge trading is just part of immaturity, nothing without it. Beginners always try to take revenge when fall a great loss especially trade with high leverage due to non sense planning.
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And then they end up losing even more money and almost quitting trading. It's a vicious circle, unfortunately.
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Joined Mar 2017
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I do trading only major Forex currencies but that doesn’t mean, I am against on others trading pair! Basically, my trading plan and strategy works on only major FX currency! That’s why I am trading with this method!
I do trading only major Forex currencies but that doesn’t mean, I am against on others trading pair! Basically, my trading plan and strategy works on only major FX currency! That’s why I am trading with this method!
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Major pairs is really safe and sounds than others. which currency do you use basically ? I mostly prefer GBPUSD
The best pairs change from day to day. If you flop around from pair to pair, then check the FF "Calendar" tab and find the one with major news that day. If you are not an intraday trader, then look several days ahead.
