Is it best to start with just one currency pair to learn fundamentals?

ElaineMDG

Corporal
Messages
119
I have dome some of the trades in the EURUSD and i can say for sure that our trading will become easier only when we are able to know the True Trends and avoid the noise :D
I keep hearing from experts, (and I'm talking about REAL "experts", mentors and traders; that we will get to the point in our trading-successful trading-that the process should and "will" be "boring" to us.
You know, I don't think I WANT it to ever become "boring", lol!!
I didn't THRIVE in my work in Emergency Rooms in hospitals, fly search and rescue and disaster management with the Red Cross for almost 30 years because I like "boring"!! :p

OKOK...YES, I *know* it's NOT even close to being the same; HOWEVER, I believe there's plenty of ways to keep the excitement up in this field AND consistently make a profit. Perhaps that's why, after the past 3 weeks, I've fallen in love with using the Fundamentals as my primary strategy...WITH of course some Technicals such as Trends and Support & Resistance, (simple Price Action concepts), included for entry, exit and stop-loss (Risk Mgt). Using this strategy makes it unlikely I'll be concentrating on just a set number of currency pairs.
I suppose you *could*....but then it wouldn't be quite as "exciting"!! :D
 

celeryleaf

Corporal
Messages
91
I keep hearing from experts, (and I'm talking about REAL "experts", mentors and traders; that we will get to the point in our trading-successful trading-that the process should and "will" be "boring" to us.
You know, I don't think I WANT it to ever become "boring", lol!!
I didn't THRIVE in my work in Emergency Rooms in hospitals, fly search and rescue and disaster management with the Red Cross for almost 30 years because I like "boring"!! :p

OKOK...YES, I *know* it's NOT even close to being the same; HOWEVER, I believe there's plenty of ways to keep the excitement up in this field AND consistently make a profit. Perhaps that's why, after the past 3 weeks, I've fallen in love with using the Fundamentals as my primary strategy...WITH of course some Technicals such as Trends and Support & Resistance, (simple Price Action concepts), included for entry, exit and stop-loss (Risk Mgt). Using this strategy makes it unlikely I'll be concentrating on just a set number of currency pairs.
I suppose you *could*....but then it wouldn't be quite as "exciting"!! :D
Hm quite an interesting concept. I mean it was boring for me at the beginning to some extent but at the same time I was just startign out and you know this excitement of a new player. Thats how it was for me.
 

EURUSD

Sergeant Major
Messages
1,133
Look on fundamental analysis how to work, often news high impact giving instant impact to currency, but sometime also will corelated with another currency, but might usually if trader look for news hence will focus on news that relation with currency that he traded
 

EuroTrader

Sergeant Major
Messages
1,041
Look on fundamental analysis how to work, often news high impact giving instant impact to currency, but sometime also will corelated with another currency, but might usually if trader look for news hence will focus on news that relation with currency that he traded
Whenever we are doing our trades we have to look for the news and the events that may affect our trading and the profits that we can generate with the help of them :)
 

downtrend

Sergeant
Messages
872
When you will keep your learning limited to only one currency pair, then its obvious that you will learn quickly about that pair, as it won't take your attentions to other factors.
 

dianajs

Private, 1st Class
Messages
778
When you will keep your learning limited to only one currency pair, then its obvious that you will learn quickly about that pair, as it won't take your attentions to other factors.
In general, I agree, but I think it's also good to branch out to watching and learning the behaviour of other currency pairs as well sooner or later. It's good to be able to rely on several different currency pairs, because market circumstances change and trading opportunities appear at different times and on different charts.
 

Froso@FXNET

FxNet.com Representative
Messages
395
It is necessary to see the routine and behavior of any currency pair regularly to know all about its fundamental. You should read daily news and international matters that can effect on currencies. Then there is easy to trade on fundamental.
 

kingsman

Corporal
Messages
191
Being a newbie you are confused and every newbie is confused in the beginning, you will learn with the passage of time fundamental of forex and you should start with only one currency pair i.e. EUR/USD in order to get the fruitful result.
 

downtrend

Sergeant
Messages
872
It will be easy on your part when you only trade on single pair.By this your concentration will be limited to one pair and you will learn better and faster.
 

dianajs

Private, 1st Class
Messages
778
Being a newbie you are confused and every newbie is confused in the beginning, you will learn with the passage of time fundamental of forex and you should start with only one currency pair i.e. EUR/USD in order to get the fruitful result.
While I agree it's a good idea to start with one currency pair, that pair doesn't necessarily have to be EUR/USD. While there is a lot of information about it, EUR/USD can be very choppy and prone to long periods of consolidation, which aren't very comfortable to trade if you don't have experience.
 
Top