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

RahmanSL

Major
Messages
2,536
Thanks RahmanSL, it's really the curtain way to reseach that. What about your experience? Do you use different strategies for different pairs?
After researching that particular currency pair, I would either go "long" or "short" on that one particular currency pair BUT would very much prefer to go in the direction that pays me positive daily swap in case I want or need to keep the opened positions going for more than one day.
Then I simply keep track on latest news that would affect that two currencies and trade the pair for days, weeks, and even months.
It can be quite boring at times when there is very little movements on the pair, but I do get daily profits....sometimes very little (less than USD200) but sometimes can run over the thousand mark.

I would recommend Newbies to trade my style because there is very little stress involved and I get to know the currency pair well.
I really wonder why some well-seasoned Traders would want to trade so many currency pairs and even take losses for their trades.

As long as I am making daily profits on my trades, I am happy with that since we are in the forex market for profits and we have nothing to prove by trading more than one currency pair.
 

OlafYom

Banned spammer for FreshForex
Messages
19
Thanks again! I was really impressed when got to know that some brokers provide trading with more that 100 of pairs.
 

joelmch

Private, 1st Class
Messages
41
It can be quite boring at times when there is very little movements on the pair, but I do get daily profits....sometimes very little (less than USD200) but sometimes can run over the thousand mark.
Thanks for that. I think at this point, my main concern is learning, then second, earning profit. I'll see what I can do then.
 

nahiyar

Private, 1st Class
Messages
809
Look, as a newbie in Forex treading, we cannot start with technical and fundamentals at the same time. I suggest to start with technical analysis with one pair only; most like try EURUSD.
 

downtrend

Sergeant
Messages
874
Look, as a newbie in Forex treading, we cannot start with technical and fundamentals at the same time. I suggest to start with technical analysis with one pair only; most like try EURUSD.
You are right, but for only one pair, I think it will be an easy job to study both technical and fundamental analysis. Its not a tedious work even if you check news and then see if technical favor the outcome.
 

orni308

Private, 1st Class
Messages
35
yes for a beginning its not a bad idea to trade with one pair, in this way you can concentrate on a pair and notice its moment and factors that are effecting it.
 

Ted_Packer

Banned spammer for FreshForex
Messages
3
The best way is to open a demo account and start practicing, no matter with one or several pairs.
 

DavidC1

Private, 1st Class
Messages
69
Thanks again! I was really impressed when got to know that some brokers provide trading with more that 100 of pairs.
O-o Seriously? More than 100? dang.. I have a hard enough time keeping track of the majors.... I pretty much am all manual though, so I guess with the right software you could watch that many.
 

traderix

Recruit
Messages
2
If you want to go with fundamental analysis then yes, I think it is better to focus on only one currency pair, the most familiar for you, since you will have to be aware of the main macroeconomic data of the countries involved.
 
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