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

undertaker

Sergeant
Messages
226
I think two are enough for any trader, you can trade mostly with a pair and sometimes put another pair trade. But sticking to a pair would give you a deep knowledge, history about it then you can trade profitable easier.
 

jkm

Private
Messages
25
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?
Definitely. start of with just a pair as as you get the jist of things,add more pairs. I started off with one myself and I don't regret that decision because it helped me get into it better without confusion.
 

downtrend

Sergeant
Messages
874
If you start with only one currency pair, you can concentrate on its movement more easily. Also you can analyze that pair on multiple time frames to get some more trade entries.
 

bigdolly

Sergeant Major
Messages
973
If you start with only one currency pair, you can concentrate on its movement more easily. Also you can analyze that pair on multiple time frames to get some more trade entries.
On first stage it is reasonable to experiment with different pairs, commodity CFD's indices to understand what suits you best. Getting too overwhelmed with particular asset may cause mistake or misunderstandings because of lack see trading picture as a whole
 

RahmanSL

Major
Messages
2,536
25 post on this thread and the initiator @Reggieroo started and re-post total 3 times :p...which goes to show no two traders trade exactly the same way & system.

Someone should start a thread on "What's your trading system and why it works for you" (I am too lazy to do that:p)...... or something like that :cool:....to compare & to share how each Trader carry out trades. I am very sure we all can learn from each other trading system and the rational behind their decisions.

Personally for me, after more than 4 years trading the forex market, I now trade only one pair at a time and stay on the pair for as long as I think I can still trade it profitably on both "long" and "short" trades....in trading on 1 currency pair, I can keep track of the two currencies much more efficiently.
 

NicholasM

Corporal
Messages
100
If you are totally unbiased in terms of knowledge on either pair, then it is good to experiment on a few. However, should you already possess some knowledge about a certain pair, one that you understand what drives/tramps the up and downward movement, then it would be better for you to begin with that one. The rest you can add later as you learn more across various platforms like FPA.
 

OlafYom

Banned spammer for FreshForex
Messages
19
Am I right that I can't use the same trading system on different pairs?
 

OlafYom

Banned spammer for FreshForex
Messages
19
Thanks RahmanSL, it's really the curtain way to reseach that. What about your experience? Do you use different strategies for different pairs?
 

downtrend

Sergeant
Messages
874
It mainly depends on your trading system, if you are a scalper then seriously you cannot trade on many pairs, then you need to focus on one pair air a max 2 pairs. If you try to scalp too many pairs then you won't be able to make money.
 
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