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flybiz08

Is it advisable to trade on all currency pair as a newbie?

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New traders tend to be confused as to which and how many pairs to trade from the vast majority of pairs available for trading in the forex market. If you were to render some advise, do you think that new traders should trade on more than one currency pair?

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I planned on trading just one currency pair in my own case.The most popular one is what i am going to focus on which is Dollar / Euro.I will have to forget about others for now until later in life when i have gain much more knowledge and experience trading forex.

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i do thinkgtrading on or two woudl be more than enough. i don't see the point in trading with so many pairs even if you are a good trader already. and much so if you are a beginner only, better choose one currency till you are good enough to add more currency or to change currency.

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Even professional traders dont trade all currencies as one its really good on a particular pair. The usd is the most traded currencies in the world and almost all the traders go for it than other currencies like yen. For me i will saatr up to trade with eur/usd.

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I don't think that it is necessary to trade more than one pair. You can trade as many pairs as you want. However, due to the different rates and different changes that each market goes through, it probably isn't advisable. I am going to stick with a certain pair that I think is my best pair.

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Even professional traders dont trade all currencies as one its really good on a particular pair. The usd is the most traded currencies in the world and almost all the traders go for it than other currencies like yen. For me i will saatr up to trade with eur/usd.

Well, many traders do trade in different pairs and most of them do know when it become a good day or have hints when it will be volatile. Some pairs are given that most of the traders always trade on it just like the EURUSD. Thus, some have good strategy to find those related pairs and those its opposite.

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New traders may laneways is much better to learn all kinds of pairs to be traded so that they can choose which pair that will benefit their trade and which pair is more convenient but the movements were analyzed separately dsalam this pair learn new traders should learn to use the demo account so as not to a loss, and if they've done significantly better perdaganganh they only focus on one pair they would be traded

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Well, it is a good thing to know about many pairs traded on Forex. But, as a newbie, or even a trader, it is not always good to trade on so many currencies here. Because too many pairs will give the trader no focus at all here. And then even no profit can be gained here, because does not know the market

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Well actually its very good to know a little about all the pair as they normally say that its good for us to know a little of everything so this is true with forex trading also but have a particular pair which you like most to trade and study it carefully to avoid failure.

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Just have few trades and pairs to have in forex. I don't think its necessary for us to have all of it because just think that we can't trade in all of those currencies or pairs as it will just be wasting of our time to focus on making profits from the fewer pairs. We can't easily understand a pair that's why we need to have some pairs but not all just the major pairs which have volatile market.

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beginner or newbie should settle their trading method first before figuring out in which pair they will start trading. will only give bad result if traders force to trading with many pair while the method they use is not basket trading. so, with many or single pair only basically is depend on traders trading method.

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Well, they should have consider more of the volatile pairs. We can't have trading in pairs if we don't have our trading strategy and we will not have success in trades or good analysis if we don't do it. If a trader do like to have more trades and can monitor many trades with different pairs then, its up to them. Others are comfortable to just focus in few pairs and easier to have analysis.

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@riddick09,then for sure you have no other alternative than for you to study the pair which you want to trade first then go ahead with your deal through this means you can make more than you even expected with your little knowledge which you have here bt when you just jump into trading without knowldge in that paire what you get is nothing but loss.

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Well, there is one thing we can do and try for the newbie in the forex trading before they choose to trade on many currency pairs here. The way here is to try trading using the demo account. Let us see here if we can make good profit. Because in the demo account we are also allowed to trade on many pairs

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It is always have advantage and disadvantage. We can have in trading in one pair to focus on it and therefore will be easy to analyze the market to make a good trade. While having more currencies to trade will help you to have good trading and knowledgeable about the different currencies and the chance to make more profits.

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Sincerely it wouldn't be adviceable for a newbie to trade on all currency pairs.To me it would be adviceable for a newbie to start with just a pair so that he would be concentrating and as he or she gets better in trading he could be adding more.

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I always trade with EURUSD currency pair most of the times and that will be really a very good currency most of the traders will be trading with . but as a newbie it is not so safe to trade with all the currencies because some currency will not give you profits and most of the times they will give you loss .

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I do not think it is advisable to trade all currency pairs as a newbie. The best currency pair is the EUR/USD pair. The reason being that it is most liquid of all currency pairs, trading spreads are lower, most popular and it also makes up about 27% of total forex trading volume.

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Yeah that's true.Though ain't yet a trader but yet i have gotten to know that the EUR/USD is the best for a newbie.A newbie trading with several pairs wouldn't be adviceable but he trading with just a pair would be having him kind of concentrate.

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It would be better for a newbie to focus in one currency pair because seriously it wouldn't be easy analyzing the market so a newbie should pay all of his attention into one currency pair and when he can handle more pairs then that is the time that you can trade with more currency pair.

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I am not sure of other currency pairs because i mostly trade with EUR/USD pair and some time gold and other than that i have never traded any currency pairs till now . Most of them say that eur/usd is one of the best currency pair to make huge profits . and most of the times got profit not loss .

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It doesn't mean that we trading with EUR/USD would be stopping us from losing but it would just be a good pair for a newbie.we still have equal chances of losing when trading with other pairs if we dont get our skills or strategies right.

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I am not sure of other currency pairs because i mostly trade with EUR/USD pair and some time gold and other than that i have never traded any currency pairs till now . Most of them say that eur/usd is one of the best currency pair to make huge profits . and most of the times got profit not loss .

mostly i trade with EUR/USD, same like you but sometimes trade with USD/JPY and seldom with GBP/USD, i also want to try to trade with other currency pair, but it seems i will focus more with EUR/USD, since lately i get some nice profit with this pair, even i also loss 3 weeks ago with the same pair

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Its always better to start off with currency pairs that are more popular and there is good information available to help with analysis before jumping to others as a newbie. When you are comfortable then you can move to other currency pairs and take it from there.

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If you know forex then you can trade with any of the currency pairs easily but some currency pairs will not give you profits and some will not at all have a good execution so i think it is not at all good to risk on all the currency pairs . if you want you can trade with all currency pairs with demo account and see if you are earning profits then you can go on .

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I really do not recommend beginners to trade with currency pairs using a lot because it will only lead to huge losses for them better trade using only one currency pair only because it would have produced a better result analysis and can also be get a good profit

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Yeah that's true.Trading with different pairs would only be making them kind of get distracted and when they are their chances of losing would be high due to their negligence.sincerely newbies got to wise when they starting forex trading.

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Its always better to start off with currency pairs that are more popular and there is good information available to help with analysis before jumping to others as a newbie. When you are comfortable then you can move to other currency pairs and take it from there.

and EUR/USD is the most popular :D, i also start with that pair and still dominate my trading activity rather than other currency, move to the other or trade with other pair will not hurt anyone, if you can manage it why not? if you know what are you doing, then you can go. some people even get decent profit from other currency pair

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It is widely said that climbing a ladder of success isn't an overnight thing.it requires that we go taking a step at a time.how can we take a step at a time??we must ensure not to conbine so many things at a time such as trading pairs so that we concentrate.

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It is going to take time to learn how a pair reacts in the market. It will be also not easy to trade even in one pair because, we should learn the pair and it's relationship in other pairs which have directly effect in the said pair. It's obvious that we need to learn other pairs to have better trading because, we will just have limited information in a certain pair which we can't maximize the potential of making profits.

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I think concentrating on a few currency pairs is better than concentrating on all the pairs. I prefer currency pairs with lower spreads like eurusd, gbpusd and eurjpy. Concentrating on a few currency pairs makes us more expert in these pairs and helps us to know their behavior and style better.

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I think depending on the situations you can go with any of the currency pairs and i am sure that it is not a big task to trade with all the currency . If you know trading then you can trade with any of the currency . But i see that most of the times traders will be trading with the major currency pairs so i think first preference will be given to the major currency pairs .

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Always, we will see that major pairs as traded by many traders. This is no surprise because, everybody wanted to have volatile pairs that will be have their trading worked. I don't think they can't target of 100 pips or more in a non volatile pair in a short period of time or to do scalping in those not volatile pairs. So, it's technically peculiar to the traders to have this strategy.

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I think depending on the situations you can go with any of the currency pairs and i am sure that it is not a big task to trade with all the currency . If you know trading then you can trade with any of the currency . But i see that most of the times traders will be trading with the major currency pairs so i think first preference will be given to the major currency pairs .

but there is someone who think that combined more than one pair is a bad thing to do, but i think people should know the condition of market, that is so bad if they don't even know and only stick with one pair of currency, focused to one pair currency is okay but you also need to see other currency pairs condition/movement, if you can trade aside from your pair currency that you choose right now, it will be good to move.

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I'm sure newbies has hard time understanding and monitor one pair so I doubt if he can monitor multiple pairs. I'm trading eur/usd for five months before I add another pairs. that's how long its take me to understand the basic rules of forex trading and once I understand it its easy for me to apply in other pairs as well. But if you going to start with multiple pairs. I doubt if you going to understand how to monitor and analyst each pairs.

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It depends, I prefer currency pairs which have low spreads like eurusd, gbpusd and eurjpy. However I often trade with other currency pairs but just for a change. Selecting a few currency pairs enables us to give more concentrations towards those pairs and on the economic developments effecting the selected pairs.

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It isn't for you.if you are a professional,why shouldn't you be going for many pairs.I would still be standing on the fact that newbies shouldn't be getting their minds divided but should be sticking to just a pair at every point of time till they mature.

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2 pairs already enough for me, 3 is okay but i will try it later if i see that other pairs currency have better movement, it is better to consult with the other experienced forex traders, becuase it will give us more chance to earn knowledge from them and know which is the best pairs to trade

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Well, depends to you. As long as we can say that these 2 or 3 pairs are related to each other to learn their relationship and connections to learn further the market and those currencies. Because, there are pairs that have direct impact to other pairs which we can use in our trading. For example, USD will have stronger value overall then, the pairs connected to it will surely have weaker to dollar at that time or might have such chances.

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and for newbie for their first time to trade i think it is better to start with one pair currency, when you gain more confidence i think it is good to take other currency pairs which profitable, i have plan to switch from EUR/USD, and i think i agree with riddick here in fact we can see that USD traded in many currency pairs

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if the goal is learning, it doesn't matter as far as newbie trading in demo account only. but it will only waste the newbie time in learning and in this case, better newbie choose one pair only and stick to learning with it till understand the habit before jump to another pair.

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Its not good for the newbie to trade on all the currency pair this may result in some serious loss even the advance trader dont trade in all pair let alone newbie which is very dangerous

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if the goal is learning, it doesn't matter as far as newbie trading in demo account only. but it will only waste the newbie time in learning and in this case, better newbie choose one pair only and stick to learning with it till understand the habit before jump to another pair.

i think if they have some experience in other currency and that currency truly give them profit i think that is not a big deal, switch to the other currency pairs is not a sin for traders, just make sure that they know what they did and also with more currency pairs at least we will gain experience there

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Hmm, there's no such truly give them profits but that they can make profits or familiar on how the market on that pair or currency works. So, it's best that we should choose the pairs or currencies that we are good or convenient on learning and knowing it's nature. So that, we will have the advantage and use it for better trading.

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If you can't master one then how can you make profit in other pairs? that's why its good to master one pair at a time. Me its take me six months to master one pairs and when I jump to eight pairs hoping to exagerate my earnings I end up getting multiple MC and that's why I'm back to square one in which I'm maintaining three pairs and not eight as I use to. I want to have a strong accounts and pairs first before I expand again.

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No problem we can trade with all the currency pairs . If we know how to trade then all the currency pairs are same and we can trade them . There will be some currency pairs which will not give profits to the traders so its better to avoid that currency pairs most of the times . I suggest EUR/USD currency pair to be the best one for newbie traders to trade with .

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The problem is that are we able to familiar or recognize those pairs because, if we don't know how the trading there then, we can't make good analysis or not have good chance of profits. We should be more wise to have major pairs before other pairs like those exotic pairs that rarely to have analysis or signals from other traders.

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No problem we can trade with all the currency pairs . If we know how to trade then all the currency pairs are same and we can trade them . There will be some currency pairs which will not give profits to the traders so its better to avoid that currency pairs most of the times . I suggest EUR/USD currency pair to be the best one for newbie traders to trade with .

but for some newbie they will have problem with this site currency option, with that thing they need to understand more market movement of that currency before trade since i think mostly new traders really want to get fast profit, but it is better to choose which is safe currency pairs rather than only want to do experiments

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If you make money trading multiple currency then why not. My point is this. Theirs no don't and won't in forex trading even if you are a newbies as long you can handle the situation the right away. Most newbies though started to trade in forex without even doing some reviews and research and practice in demo account. So how do you expect them to learn and earn in forex? While other newbies has spend months attending seminars and practicing trading so of course they can handle multiple pairs right away.

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Not a problem just it's too risky. Better to trade with one pair to be focused while trading and we can make maximal profit from pair that we're using now. I also use one pair only when trading with instaforex.

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Yes newbie can trade in more than one currency pairs. When they are doing demo practice they should try for all major currency pairs to get experience of trading in these pairs. In one pair some time market is not favorable so they can trade on other. How ever they should avoid to do trading multiple trading at one time.

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Correct. We should done in demo trading the familiarization of the different pairs and to know the difference of the market they have and how to deal with the different market sessions to therefore, fully understand and better trading analysis. Meanwhile, about the simultaneous trading I think it's up to us already and this is mainly because we have our own decisions.

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Not a problem just it's too risky. Better to trade with one pair to be focused while trading and we can make maximal profit from pair that we're using now. I also use one pair only when trading with instaforex.

i agree with you about this statement, with focused in one pair i am sure we will be familiar and if we become more familiar with currency pair then i am sure later we know how to get profit there, moving to the other currency before we can gain some profits from one currency pair could be included as not wise decision

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We must first learn how a pair works and how the market and other factors affect the pair. In this way, we can deduce of the different aspects and learn how to deal in the pair like we able to monitor it's average pips movement and usually the factors that influence the pair to move tremendously and what market sessions they are belong or when they are very volatile.

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Well, for a newbie there is still so much to learn and I guess they still not really consistent in the pair that they are trading. So, the first thing that they have to do is to focus with only one currency pair. But when you think that you can do more currency pair then why not? as it will maximize your profits trading with more than one currency pair.

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Not only about learning but also experiencing of the hands-on experience in Forex trading. That's the most important as it's not only in verbal as we need to do action and to know how to make actions in the critical situations in the market like in the volatile market and in the Forex news that has greatly influence the market that we are trading.

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As long you done it in demo account I don't see any reason why not. Newbies must learn how to trade and the best way to learn is via experiencing trading different type of currencies. In this way you will know which pair is volatile and which pair is just moving side way then each currency you can trade depends on the strategy that is good to use on that particular currency. Later on you can trade in real account with confidence. Knowing which strategy is good for particular currency.

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Demo account is okay but if we are in real account then we must think twice, if we don't familiar with it, why we should spend our time with it? and i think with demo account we can try to become familiar with other pairs, it will help us so much to if we want to trade more than one currency pair in real account

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I advice newbies to explore but make sure you explore in demo account. Be reckless but make sure you learn from it. That's how we can do something good that can make us earn good amount of money in forex. I'm sure the more you experience trial and error in demo account the more you will be successful online. I do hope that in the long run I can earn big amount of money.

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Always to consult first their trading strategy in the demo account before, they can apply or use it in their real trading. That's the best way to tell how most likely the results of their trading in the market. We should definitely filter what could be the best for our strategy through the use of it. And we should have done to invest our time and try as much as possible learn different pairs to know the different market conditions.

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i guess it a gradual process trading all pair,though not with real account but if one want trade all pair as a newbies,i believe the demo account is the best place to do that,though to be sincere i don't think it advisable but one can try it as a trader if he/she has being able to get a trading strategy that is working on other pair,one might try during practice with other account.

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Sometime we are better to focus only in what we trade. In this case, focus only in one or two pair is better for us. We can make more profit by using many chart at once but if we are still newbie, it will only make us confuse in the end. By keeping focus in one or two pair, we will know the characteristic of those pair that can be benefit for our future trade.

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It's just to trade using all currency if you are a newbies. You would not be able to learn well if you open position in all currency. It's important to focus in one or two currencies only. More than that then you would get confused and it is such a hard job to monitor all of your open trade.

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maybe the key point to open position or trade use all pair is chasing profit as many as possible. but unfortunately this technique will be profitable if handled by professional, expert or experienced traders, and not for newbie traders. if traders status still in beginner or newbie, better not focus in chasing money or profit but focus in learning where in this process, use one or two pair only will be better.

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To know the history of every pairs in the chart is not easy. It needs huge memory and time to remember. Also, complete data and it has to be concluded in the note for each pair. So, it will be another problem for a newbie actually. Better to choose one or two pairs first. It will be much easier to remember

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Yeah it would just add more burden to the newbies if he would require himself to trade in all currencies. So it's much better just to choose few currencies and just try to ask or read which currencies are good for newbies. So that he would be able to focus in just few currency while still learning.

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Right now I do trade eight different pairs but when I was a newbies I only stick to one pair for three reason. One is that I can only afford or my capital is only good for one pair. Secondly its easy for me to manage and monitor only one pair and the third and most important thing is that I can be more familiar with that pair if I only going to concentrate trading on that particular pair. Anyway my first pair is eur/usd.

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So far, i trade with two currecny pairs. I think that is the best thing that i can do right now, even i am not have much time to spend in forex in this month, but overall for mediocre like me, trade with two currency pairs is a good option. but if newbie want, they can do that thing, my advice trade with two at most.

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About me, I focus on trading just one currency pair in my own case. The most popular one is what i am going to focus on which is Dollar / Euro. I will have to forget about others for now until later in life when i have gain much more knowledge and experience trading forex.

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Well, i do think trading one or two would be more than enough. I don't see the point in trading with so many pairs even if you are a good trader already. And much so if you are a beginner only, better choose one currency till you are good enough to add more currency or to change currency.

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I think that even professional traders don't trade all currencies as one it's really good on a particular pair. The usd is the most traded currencies in the world and almost all the traders go for it than other currencies like yen. For me i will start up to trade with eur/usd.

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@humanhope: who know? but so far i don't find any trader that do that, the only one that i find is they trade in 3 or 4 currencies, i have acquintance which is professional traders that make living for himself, and he do that thing if one of currency pair that he choose has a lot of problem.

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There are many traders do trade in different pairs and most of them do know when it becomes a good day or have hints when it will be volatile. Some pairs are given that most of the traders always trade on it just like the EUR/USD. Thus, some have good strategy to find those related pairs.

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Newbie may laneways is much better to learn all kinds of pairs to be traded so that they can choose which pair that will benefit their trade and which pair is more convenient but the movements were analyzed separately dsalam this pair learn new traders should learn to use the demo account so as not to a loss.

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I don't think it is easy to trade in all pairs. It is not advisable to do that. Better just choose pairs that you think would be the most profitable pair to trade with. So I think that if you would trade in all pair that you would not be able to manage your trade well. So it is not going to be profitable for you.

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for me, it is necessary to trade more than one pair. You can trade as many pairs as you want. However, due to the different rates and different changes that each market goes through, it probably isn't advisable. I am going to stick with a certain pair that I think is my best pair.

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But, as a newbie, or even a trader, it is not always good to trade on so many currencies here. Because there are too many pairs will give the trader no focus at all here. And then even no profit can be gained here. note; please any mod can make this post and the previous one in one post,

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I think that it's very good to know a little about all the pair as they normally say that its good for us to know a little of everything so this is true with forex trading also but have a particular pair which you like most to trade and study it carefully to avoid failure.

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One at a time. Right now I do trade eight pairs but I make sure that I make good income in forex by having each individual pairs well research and reviewed. I do hope that in the long run I can surely make good income without any problem at all. I know many do like to see profit right away. But if you can't handle one pairs then how can you handle multiple pair? So always trade one pair at a time.

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If we don't have yet knowledge on most of the pairs or currencies then, we should be practical to have only the major pairs and then what we need to really make it profitable for our trading. Since, we can't trade all of the pairs and keep on analyzing the different markets and it will also create confusions and more of losses. I think if the pair has the same currency it will be also good to trade in those pairs.

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Or at least volatile currency pair, i think even major pair have some problem with volatile, right? even like that for newbie i think it is beter for them to stick with major currency pairs first, because with that they will gain experience and earning better, rather than some kind of exotic currencies.

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I think that there is one thing we can do and try for the newbie in the forex trading before they choose to trade on many currency pairs here. The way here is to try trading using the demo account. Let us see here if we can make good profit.

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Well, it is not. It is a good strategy to invest only on those pairs which you have been following since sometime. The main reason behind this is that fact that by following a currency pair, you know how the pair is going to react in different situations and what impact it is going to have on the pair when a high impact news is released which has an impact on that pair you have been following.

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I think that there is one thing we can do and try for the newbie in the forex trading before they choose to trade on many currency pairs here. The way here is to try trading using the demo account. Let us see here if we can make good profit.

hm, that is a nice idea but i think to trade with more than one currency as newbie is not a good idea even in demo account, but as for experiment maybe they can try sometimes but make sure you don't use much of your capital when you trade, it is very risky to do something like that.

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Its good to try all currency pairs if you are a newbies in demo account. In this way you can be familiar with each pairs movements and trends. Later on you will learn how to make good income in here by choosing a pair that you think have clear trend and pattern at that moment. That's what I actually do right now. I have nine active pairs right now and I just choose three pairs as my main trading pairs.

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There is no limit on how many pairs which we want to use. But if we trade using several pair, we could not focus and trading results can not be maximal. I prefer to trade with a certain pair, especially the EUR / USD

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Just practice as many pairs as you can. Right now I'm trying to trade as many pairs as I can then I only choose one major pair that I want to trade about 40% of my trading capital. And the rest of the 60% is divided among that group of pairs that I'm trading. I'm really not that successful yet but I do hope that I can really make a difference right now.

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I think that it's always better to start off with currency pairs that are more popular and there is good information available to help with analysis before jumping to others as a newbie. When you are comfortable then you can move to other currency pairs and take it from there.

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You can trade with any of the currency pairs easily but some currency pairs will not give you profits and some will not at all have a good execution so i think it is not at all good to risk on all the currency pairs. If you want you can trade with all currency pairs with demo account and see if you are earning profits then you can go on.

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