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


flybiz08

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  • 5 weeks later...
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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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  • 4 months later...

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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  • 1 month later...

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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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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  • 1 month later...

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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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 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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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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