The more pairs you focus on trading, the greater you increase your chances for failure.
I sometimes wonder if this is why brokers make so many pairs available on their exchanges for retail to trade. Perhaps it is because the more choices you have, the more difficult it is to pick the right one. In other words, it causes confusion, which leads to failure.
It would be interesting to see the success rate of traders who only focus on a few pairs compared to those who focus on five or more pairs. It's my guess the people who focus on less are likely more successful than those who are trying to keep track of more.
What do you think about this?
I sometimes wonder if this is why brokers make so many pairs available on their exchanges for retail to trade. Perhaps it is because the more choices you have, the more difficult it is to pick the right one. In other words, it causes confusion, which leads to failure.
It would be interesting to see the success rate of traders who only focus on a few pairs compared to those who focus on five or more pairs. It's my guess the people who focus on less are likely more successful than those who are trying to keep track of more.
What do you think about this?
You don't know because you don't ask.