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

downtrend

Sergeant
Messages
872
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.
Trading only on one pair will make you understand its reaction to the different news outcome and then you can predict it with ease on next same news release.
 

dianajs

Private, 1st Class
Messages
778
Trading only on one pair will make you understand its reaction to the different news outcome and then you can predict it with ease on next same news release.
I don't think that news outcome can be predicted with ease, but I do agree that the more one watches and learns about a pair, the easier it becomes to analyze it outside of news-related volatility.
 

downtrend

Sergeant
Messages
872
I don't think that news outcome can be predicted with ease, but I do agree that the more one watches and learns about a pair, the easier it becomes to analyze it outside of news-related volatility.
If you have proper understanding of the outcome of different news related to a currency pair, you can easily predict the outcome of a major news and then act accordingly to trade on that pair.
 

Pharaoh

Colonel
Messages
19,774
If you have proper understanding of the outcome of different news related to a currency pair, you can easily predict the outcome of a major news and then act accordingly to trade on that pair.
At least until there's a big, confusing revision in the previous release or else a conflicting simultaneous release. Then things get crazy.
 

dianajs

Private, 1st Class
Messages
778
At least until there's a big, confusing revision in the previous release or else a conflicting simultaneous release. Then things get crazy.
I agree. When it comes to news trading unpleasant surprises are always possible. That is why I generally avoid trading during news events.
 

holycow

Master Sergeant
Messages
294
I also usually avoid trading during the high impact news release as i am bit conservative in taking risks, however anyone who wishes to take start should rely trading on just one pair i guess.
 

dianajs

Private, 1st Class
Messages
778
I also usually avoid trading during the high impact news release as i am bit conservative in taking risks, however anyone who wishes to take start should rely trading on just one pair i guess.
Initially? Yes. At least until one learns basic trading rules. After that it's a good idea to start expanding one's knowledge and branching out to other pairs.
 

Pharaoh

Colonel
Messages
19,774
Initially? Yes. At least until one learns basic trading rules. After that it's a good idea to start expanding one's knowledge and branching out to other pairs.
Guess I should keep quiet about crashing MT4 because I had too many charts open at once. :D
 

Ken Smith

Private
Messages
104
I'm new to forex, only thing I have ever done is copied trades & used Zulutrade for the past couple of months. I have also watched some training vids on candlestick patterns trying to learn about those in an attempt to teach myself technical analysis.

Now my question is based on trying to learn fundamental analysis after watching Jarrat Davis's free training vids & other research online. I was going to learn all about technical analysis & base my trading on that but now I'm not so sure. Problem I have is I don't watch the news or have any understanding of the world economy, hence the reason I was going to base my trading on technicals.

Now to start learning fundamentals is it best to chose a currency pair & focus on news about that one pair so I'm not trying to take in too much info & get confused & overwhelmed?
Yes. Initially it is best to choose one single pair. Spend time to observe that pair as much as you can. Every pair has Its own characteristics. You will find some unique characteristics of that pair. Study them and test them. It's a trail and error process. Once you are well familiar with one pair. You can choose another pair.
 
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