Why You should stick to one currency pair as a beginner

[Monadism]

Sticking to one currency pair increases your chances of lowering risk on your trades initially. It is quite essential and a must for beginners to follow, it gets easier to handle and analyse the market efficiently. After a while, traders can expand their account.

 

[Gastrolatry]

Newbies should focus on pairs like EUR/USD, GBP/USD, etc. These pairs are liquid and have a high trading volume. They also have tight spreads.
Choosing one pair gives a trader a better understanding of the pair and other trading concepts. As they continue to grow and profit, they can include other pairs too.

 

[Sociable]

Focusing on just one currency pair is comparatively easy and a beginner still has a lot to learn when they enter the forex market. I would advise all beginners to start trading with a major pair first and work on improving your skills. You can move to other pairs once you gain some trading experience in the market.

 

[Chlamys]

If you're new to forex trading, it's important to stick to one currency pair. This will help you to better understand the market and how it works.
Sticking to one currency pair also allows you to better focus your attention and energy. This can help you to make better decisions and improve your results.

 

[Hylotomous]

As beginners are yet to understand the basic market functions, they better concentrate on one currency pair at a time. This will help them learn well without causing any confusion.

 

[Slumberous]

Well, I agree with this. When you are new to the market, you have quite a lot to do. Now if you start trading more than one currency pair, your focus will get divided and you may not be giving your best to any of the pairs you are trading.

 

[Diapason]

As you begin, sticking to one currency pair makes it easier to understand the different tactics you need to apply and you won’t lose more than you gain. As you grow and gain experience, you must expand and explore the market.

 

[Muftau151]

All trading pairs move differently. So, in the beginning days of your trading, it is a good move to stick with one currency pair. But as you gain experience you should diversify your currency pairs to reduce risk.

Yea I’ve been hearing about that from a friend but they are guru now in it and they do most things there that I can’t even understand. I’m trying to learn from them but they are moving too fast for me

 

[Satanology]

As a beginning forex trader, it's best to stick to one or two currency pairs. Making the number of currency pairs even larger can make trading more difficult. It will be difficult for you to keep track of everything as a beginner trader.

 

[Wavemeter]

All currency pairs swing differently. Trading with multiple pairs can be confusing for new traders as they have to study each pair. So, it is better to stick to one and add others as you progress.

 

[Scrutinize]

A beginner will be overwhelmed and confused if they try to trade with too many pairs as soon as they enter the forex market. Focusing on one major pair like EUR/USD will be ideal and it will also result in less risk as well.

 

[Ithedicious]

Thank you so much for sharing, that is what so many people are advised to do. At the same thing I believe that you may be missing a lot of profit potential if you only have to trade only One currency And focus and it alone.
Even though this may be the possible disadvantage of trading one currency pair , but at the same time it is one of the best trading strategy because it will help you to study one particular market and know everything about it to be able to trade it effectively without losing much.

So many people have different strategies to trade and personally I'm also trying as much to develop my own unique trading strategy that can be able to help me predict the market movement to at least 75% accuracy because that is what will be needed to be able to make profit effectively . ..

 

[Kamala Hooper]

Sticking to one pair as a beginner gives you the opportunity to make the most out of the chance you have to learn trading live. It takes time to get accustomed to market terms and conditions so give yourself some time and learn as you grow. You can always add more pairs once you get the hang of how it works. The skills you pick up will help you achieve profit in the long run.

 

[Olimpia Morgan]

Sticking to one currency pair as a beginner can give you a whole lot of time to get familiar with the different aspects of the market and learn the sentiment so you can expand and make more profit without any mistakes in the long run. Hence, starting with a single currency pair is beneficial rather than being disorganised and losing managing multiple.

 

[Dita Walczak]

Make your trading real with a good trading strategy. Earn more and more knowledge and execute them on the market to sharpen your experience. All the facilities provided by FXOpulence broker help a trader highly in earning large amount of profit. The broker helps traders by providing signals often.