Traders who can win in Forex tend to narrow down the currency pairs they trade. This is fine, but if you are a winning trader, it is dangerous to limit your investment to just one. The field of view may be narrowed, but the market is not always moving according to how you win. At one point it can be a range and at another point it can be full of trends. Therefore, it is necessary to change the market price to fight depending on the situation at that time. Choosing a market that is easy for you to win is one of the ways to live as a full-time trader.
Fight with one currency pair for beginners
Beginners who are just starting to trade should concentrate on trading in one pair for the time being, without doing anything. We recommend that you build a foundation with one currency and fight for half a year to a year. Once you have established your own way of winning, it is time to think about the next step. As a beginner, it’s best not to touch multiple currency pairs. This is because your concentration is dispersed and all of them often end up halfway. As a result, you may not be able to establish your own way of winning.
Winning traders should have choices
Skilled traders are advised not to stick to just one currency pair. I think you have your own favorite way of winning, such as trend following, scalping, and range, but if you have only one currency pair, that way of fighting does not always fit all year round. This is because there are times when the trading volume of any market is very high, and there are times when it is in a lull and there is no price movement. If it is trend-following, you will not be able to win if it becomes a range market, so you will need to temporarily search for another market. If you are a winner in the range market, you cannot win in a market with a trend, so you need to find a calm market. It is also important to have the flexibility to change the market price to fight depending on the situation at that time.
Japanese people tend to do only USD / JPY and Europeans and Americans tend to do only EUR / USD, but if you have one or two options there, you will be more profitable by choosing a more winning market. It will be easier to put out.
One currency pair may not win in the future
If you stick to only one currency pair, there is only one pitfall. It may be that the price movements and properties of the market are different from before, and there is a possibility of catastrophic fluctuations in the future. If that happens, you may not be able to win. In fact, I see some traders around me who have lost their wins. Both traders were sticking to only one currency pair. It can be said that the secret to making a total plus is how to find a market that is easy for you to win and fight.
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