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

ahmer

Recruit
Messages
147
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?
Trading only one pair will limit your learning cycle. You should only focus on major pairs, EURUSD, GBPUSD, USDJPY and AUDUSD. I personally trade with a combination of fundamentals and technical analysis. Just trade with low leverage and only trade high probability setups.
 

joelmch

Private, 1st Class
Messages
41
They always say to take things one at a time when you're starting out. This case is not an exception. Master one currency first for you to build a strong foundation then once you've done that, you can then start to explore further.
 

FxMaster

Lt. Colonel
Messages
9,343
On your case My advice is you can start with 1 pair such as eur/usd to get idea and try it with small deposit and also avoid autotrading or Paam till you get your self confidence on forex world.
 

downtrend

Sergeant
Messages
874
Trading only on one pair increases your knowledge about that particular pair and you tend to get used to the movement that pairs makes. After this you can easily start making money from its movement.
 

undertaker

Sergeant
Messages
226
Just stick with a major pair to have plenty of references, G/U or E/U are the best. Trading only one is better than various pair since you only need to beat one instead many. I don't think trading on other pair can improve your forex experience to win another pair.
 

dkami

Sergeant
Messages
753
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?
Either learning technical or fundamental analysis trading one currency pair is the way to go and would also suggest sticking to D1 timeframe until you have perfected your system,then you can work your way down to the M1 if that's your thing;)

A fundamental trader should still know technical analysis for entry's and exits in my view;)
 

bigdolly

Sergeant Major
Messages
996
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?
Most of those financial news you see on TV already affected the price and true fundamental traders already profited or lost trying to trade it out. If you want to take fundamentals seriously&don't waste time then you can follow my example, namely understanding history of price change with appropriate news history. Download history of certain currency pair from MT4, take some economic calendar ( I used this https://www.hotforex.com/en/trading-tools/economic-calendar.html) start to find those prints of impact from certain news on certain currency. Bright example - check all past US NFP's and respective USD price change (10-2 H) after release. This will give you much more understanding rather than trying to predict the future..

Future can't exist without past;)
 

jkm

Private
Messages
25
It is best to start small and work your way up. A pair is definitely a good start.
 

DavidC1

Private, 1st Class
Messages
69
I agree with ahmed about the major pairs, BUT when absolutely first beginning out, I used one pair, which helped me to learn the how of it. When I wanted to tackle the what and why, I went with the majors :)
 

downtrend

Sergeant
Messages
874
Trading only one pair will limit your learning cycle. You should only focus on major pairs, EURUSD, GBPUSD, USDJPY and AUDUSD. I personally trade with a combination of fundamentals and technical analysis. Just trade with low leverage and only trade high probability setups.
I don't think so that trading one pair can limit anyone's learning cycle. In fact you can earn more when you trade on less pairs. You can get good knowledge and understanding of a particular pair and then can trade it easily.
 
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