yes, because if we use a lot of pairs, we can not know so many pairs in a short time, may take many years. but if we only use one or two pair, we will be much easier to get to know the pair
Printable View
i trade in meny pairs genrally i trade in EUR/USD, USD/CHF,gold because this pair are good for trading and i get much profit from this pair
also silver and oil is very good option for trading but i dnt know about this
i trade in total 6-7 currency pairs but it is better to cocentrate on 1 or two majors if you are new and starting EU is the best once if you are new and not familiar with the behaviour of all the currency pairs, with EU you can try USDCHF also as they have inverse correlation GU and EU's correlation has changed a bit this year
Mostly i use E/U or G/U unite because of their top irresolution. And any present when there is a big info forthcoming of any separate currency like JPY or CHF i also occupation those. I use TF of M5 and M15 because when my point is yield it gives me tenseness so most of my trades are closed in 1 to 2 hours.In strategy i mostly craft tidings and like scalping.
I just trade in two pair, EUR/USD and GBP/USD.. This pair movement are really affected by fundamental news thats are released so trading in this pair are really suitable with my trading style as a fundamental trader..Currently i also learn to trade in AUD/USD because a lot of people says trade in this pair are easier
I also experienced this problem and I have enough experience in many positions open pairs, so when they get lost, I get confused, what should I do, then I will do my analysis and I want a pair who can give me the benefit and all this for not having a great loss.
I usually use 5-7 different currency pairs including GBP/USD, EUR/USD, USD/JPY, Eur/USD, AUD/USD, NZD/USD, USD/CHEF and USD/CAD. I am concentrating my focus on all these pairs because theyr have minimum spread size but other pairs charge high spread level therefor I do not trade in those pairs.