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