Resolved Question
Would you recommend trading more than one pair for a beginner like me?
I believe I have enough experience to jump into another level. I am planning to trade another pair because I want to develop my trading skills.
over 2 years ago
Best Answer - Chosen by Voters
You can work with more than one currency pair at a time so that you get a better "feel" of the price action. I suggest that you monitor three or more pairs at a time and trade the ones with the best setups.
over 2 years ago
Answers (5)
There is nothing wrong with trading more than one pair even if you're a beginner. Looking at how other pairs move can help give you good idea of how the forex market is as a whole. If you still feel uncomfortable trading other pairs, you can resort to demo trading at first to help give you a feel of the movement of other pairs.
over 2 years ago
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I guess if you’re confident enough to trade more than one pair then there’s no need for you to worry. Just be sure to be attentive of the very important news releases regarding the two pairs you’re dealing with.
over 2 years ago
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If you can really focus on those pair and you are certain that you understand the relationship between those pairs then there’s no problem at all, do it! I believe trading multiple pairs is a great way to broaden your horizons in trading. Best of luck my friend!
over 2 years ago
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There’s nothing wrong with trading multiple pairs, though this could be very difficult especially when you’re just starting to trade forex. For a beginner like you, I suggest you focus on one pair first, and then when you know you can handle another pair, go on with your original plan and trade your second pair. It is better to be safe now than be sorry forever.
over 2 years ago
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Of course, you can trade using multiple pairs. If you truly believe that you can handle those pairs, then go ahead. Just make sure you monitor your trade regularly and also protect the life of your account.
over 2 years ago
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