Ideal number of pairs 4 beginner

Is it advisable for a beginner to trade up to 3 pairs of currency at a time?

EURUSD
EURGBP sometimes you need to be patient on this
AUDUSD

It is usually best for a beginner to concentrate on trading only one pair until he/she is comfortable (and consistently profitable) trading. Learn the pair's movements, as each pair has their own "signature".

Once you've done that, you can then add more pairs for diversification.

Terry

Actual trading... two pairs at the most is advisable.

Demo trading... test four pairs at the most to avoid confusion.

I personally used several approaches - trading many pairs on daily candles, trading from 4 to 8 pairs on intraday tfs, then trading 3 pairs, then 2.
Now I only trade EURUSD and I think this works best for me.
There's enough going on on a single pair to confuse a newbie. More pairs only add to the distraction.
I think it is better to focus on one pair at first, maybe trying a shorter timeframe to get more action.

No such thing as "How many trades at a time". Trading is about risk management. If you risk %2 per trade and open 3 trades at a time, you are risking %6 which should not be acceptable. Do not risk more than you can afford.

because beginners (especially like myself) feel the itch to make some trades and see some action, even if you're learning you shouldn't narrow yourself to one single pair. At least in my opinion anyways. If you're the patient time then sure, that's fine but for myself I find two pairs gives me enough to look at without getting bored or jumpy.

I'm naturally impatient so I found when I was watching just one pair I'd start to forcefully look for trades instead of waiting for the trades to find me.

That is why for now I went into low timeframes. I disregard the noise and lower accuracy. I figured if I want to learn I need to trade a lot and I need to see a lot of movement on the charts - get used to seeing whats going on, get used to PA, learn to notice technicals, work out a routine.

Well if your maximum risk is 2% you shouldn't risk whole 2% on a single trade unless your trading strategy is such that you are not placing more than one trade at a time. Otherwise you will get frustrated when you spot a perfect trading setup, which you cannot take because your entire risk limit is already committed to another trade.

If I had to start again I would concentrate all my attention just at one pair - EURUSD. Especially in light of latest events. That would be quite helpful to set a discipline and to tune the trading strategy.

I agree regarding one pair to start with - you have more chances to find out that triggers which make the sharp price movements.

It better to start with one currency pair. When you master one start with the next one. Step by step, you have enough time for everything.

Hi, think think that is much more better to start with one currency pair and watch it everyday. I personally learn the most think by 3 months holiday, when i trade 10 hours a day, its was very exciting.

That is what I am doing, I will be starting my Demo trading with the GBPUSD myself...

Excellent choose. I like Cable.

To Choose one pair to trade is sound advise. But it can also lead to boredom and the forcing of seeing patterns that really isnt there leading to overtrading on noise.
Trade one pair but also analyze other pair between the setups. DO a top down from weekly to hourly and take notes and if you find a setup write in you book what you would have done I.e papertrade, and it will give you a good methodologi to your trading

just my 2pips

*edit* oh and i wouldnt start with EUR/USD choose a trending pair with straight nice trendlines and not so many headfakes. EURUSD is choppy and often erradic and is the most manipulated pair.

I AM VEY BIASED AS EUR/USD IS MY NEMESIS Some day ........ EU you better your watch back....

I thought the EURUSD WAS a trending pair (due to liquidity) what would you advise instead? USDCHF? (Seems to be trending nicely on the daily)

i think the only currency you should watch is the USD

trade the 6 majors one at a time or all six, the one with the best set ups etc. according to the movement of the USD

gbp, eur, aud will go up on usd weakness
jpy, chf, cad will go down on weakness

the inverse for strength

In then end, that is most likely what I will land up doing... but only 2-3 pairs at a time... The number of pairs is to ensure the presence of good trading setups.

For now, I will pick one, and stick with it until I can trade it in a consistently profitable manner...

If you can't trade one profitably, you won't be able to trade any.

If you can trade one, you will be able to trade them all.

If you learn market mechanics, you will be able to trade anything.. gold, corn, barbies.. anything.

Start with one.

Before you start dancing you need to know how to walk.