How many Pairs Should a Trader focus on

I usually have 4-5 opened positions with different pairs

It really depends on how good one is at multi-tasking. I can monitor up to ten pairs at the same time but once I've actually opened any positions that number decreases to four or five.

I don't think there's a single, objective "right answer" to this.

It depends on several factors, including what kind of trading one's trying to do.

If one's using a method with very few trading opportunities, for example, one might want to watch more pairs.

My own experience is kind of the opposite of that. Over the last three years (I wasn't really making a living from it until then, so I won't bore you with my experiences earlier than that) I've found that there's been a strong inverse correlation between the number of pairs I focus on and my income. I'm now down to focusing on two quite closely correlated major pairs, and doing well.

(If it helps to put my comments into some sort of context, I do intraday trades only, typically aiming for 15-35 pips (occasionally more) and I take about 100 trades per month, overall.)

I think the pairs you trade depends on the person and the strategy, If you trade longer timeframes, 4hr and above. you can do 20 pairs no problem, just talking the best signals, whereas if you were scalping on the 5m or the 15m that would be difficult.

Saying that though, I know an experienced trader who scalps and monitors 18 pairs and the way he does it is he has 6 pairs on each screen, six US pairs on one, the 2nd screen he has 2nd tier pairs , the Aussie and oil pairs on the third screen. he successfully pulls a 100 pips avg a day from the market even on quiet days.

I think the key is, like someone said earlier, is to trade well and master your skill on 1-4 pairs and then if you can trade more pairs and think you can do well, Then go for it!!

How many pairs?
This is very individual, and also depends on the type of strategy. The experience also plays a role. For traders with less experience it's definitely challenging to follow multiple pairs, so it might be better for them to stick to just one pair, at least in the beginning.
I personally watch the top 10 pairs (in terms of volume). I like to have larger "menu" with multiple choices. Normally during most trading sessions, I will spot at least 20-30 potential signals, but trade only a few of them. Only the best.
Better to make less trades but with higher quality. That's my philosophy....

That's a good philosophy to Follow alphaomega.

You never have to feel like your missing out on trade because you only have to take the most probable set-ups/signals. we are not robots, we can sift and use our gut to take trades. Thats one reason EA'S Don't work, you cant really program it to read the market.

As for pairs, well your experience and strategy is what decides how many pairs you trade in my opinion.

Nial fuller writes about this in his website, And he states that traders have to be like crocodiles waiting for their meal, they don't use alot of energy to hunt animals, they wait for animals to come into their trap.

Traders are the same, we wait for price to come to you, if you are a trend trader, you wait for pullbacks, price to come to you and then you join the trend. If your a scalper you take the trades that go in favour of the long term trend.

I am making all these points to make my last point which is if you find yourself confused, frantic, can't keep up (trading the signals) with the market then you should be reducing the pairs you trade, however if you feel comfortable trading the pairs you trade then you could think about adding pairs to trade. Its a balancing act.

My last point is this, if your trading a lot of pairs, then you need to understand the coloration between them and the best times to trade them.

My 2 cents.

“I learned to approach racing like a game of billiards. If you bash the ball too hard, you get nowhere. As you handle the cue properly, you drive with more finesse.” —Juan Manuel Fangio

good advise . thanks

It’s completely dependent on type of trader you are, I mean if I am scalper than 1-2 pairs is enough to bring home fair amount of profits considering I am good enough…. Now as per long term traders, it’s hardly possible to just focus on few pairs, as it will take seriously long to make good profits again considering right ways which is with tight money management, so in short been a scalper is alright with 2-3 pairs, but longer form must be 5-6 at least.

Which pairs for trading you use usually?

Sorry For going on too long on the recent post. But I am trying to engage more in ff and wanted to contribute, I don't mean to talk at anyone or take over the thread..