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

[downtrend]

Less is more in forex trading so if you will start with one pair, then you can easily concentrate on many factors and you can easily learn that pair's reaction to certain news effect. Then you can get benefit from its moves.

 

[joelmch]

For me, I'd say better start with one thing at a time. If you're new, you need to focus on a single aspect and study it. Maybe after a few years once you got everything at the back of your head, you can probably start to multitask.

 

[Froso@FXNET]

Less is more in forex trading so if you will start with one pair, then you can easily concentrate on many factors and you can easily learn that pair's reaction to certain news effect. Then you can get benefit from its moves.

But from my experience its really hard for concentrate to always monitor the news that will releaased , surely there are times when we miss the existance of news impact . cause learn of fundamental aspect really not easy as reading in many articles and in fact so many surpise moment that was unpredictable from that impact of news

 

[downtrend]

But from my experience its really hard for concentrate to always monitor the news that will releaased , surely there are times when we miss the existance of news impact . cause learn of fundamental aspect really not easy as reading in many articles and in fact so many surpise moment that was unpredictable from that impact of news

If you are following one pair, then its easy, you can also set notifications on your MT4 platform before the time of news, either major release or medium impact ones. So you can know when to trade safely if you see any news outcome nearby.

 

[Copper]

what helped me was the free videos by Jarratt Davis explaining how central banks view the data. So it helped me get a better handle on how to frame the data points. Hope that helps

 

[JesseM]

It's indeed best to start with one pair.
however keep in mind that every pair has different tendencies.
So if you get succesfull with one pair this doesn't mean your strategy can be aplied to every pair.

 

[downtrend]

If you start with one pair, you need to take any major pair. You have to be very patience in order to wait for your setup as trading only one pair at a time will reduce trade opportunities.

 

[henyo]

In my opinion its a case to case basis, some peolpe find a nitch in one pair while others in 2 or more, I started with my broker a couple of years back with just EURUSD trying to figure it ou, gradually you learn ho to make use of movements in one pair that affects other pairs in the market and that can be an advantage, i would say if you are more of a UK NY trader then focus on majors EURUSD GBPUSD AND EURGBP

 

[qitiandasheng]

I also love technical trading, its very easy than fundamental trading. Learning fundamental is not easy, you practically need to READ a lot of stuff and need to keep the data released of any certain currency to predict is movement.

That's my idea, for many traders, fundamental trading is too difficult and will take too much time, I think technical trading is more suitable for private traders and fundamental for professional managers.

 

[AmanK]

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?

Yeah it is good to start with one currency pair as mentioned you can earn large profits. But fundamentally, when we talk about currency it is not only the domestic economy that matters but also the global economy have some significant over the currency pair. Like if we select the pair of EUR/GBP, it is not that change is UK and Europe economy will show fluctuations in the pair. Also some big news in Australia will have some impact over EUR/GBP. other way we can also say that because along with this currency pair in Forex market. we also have a pair like AUD/GBP. thus appreciation in this pair will have impact over EUR/GBP. So i would like to suggest that to learn fundamentals you can select few leading pairs and analyse the correlation and inter-connection between them.