About ECN, about 14 I care.
On the mini it's down to 3. . .due the spread offered. I scalp.
About ECN, about 14 I care.
On the mini it's down to 3. . .due the spread offered. I scalp.
I trade 6. I find it easier to fallow exactly what the pair is doing. I use to fallow 16-20, just to look for specific setups with the machine I was using. Less is best, in my opinion.
I trade two currency pairs GBP/USD and EUR/USD. I also trade XAU/USD.
I used to trade the yen but due to volatility and being in UK I gave this up.
I have a day job and commerce in the background to supplement my own earnings using just a little bit. Would love to trade full time, but it is slow progress.
I am trading full time plus I take average 3 to 4 transactions per day, which comes to around 20 trades a week.
The matter is I don't look at one particular time frame. I've 8 MT4 instances installed with distinct time frames and I change back and forth and indie my zones and amounts and place a price alert when price is close to level or zone of my attention and reassess the situation and decide whether to place pending order or await price action to enter trade or merely ignore the transaction.
The timeframe I utilize are M5, M15, M30, H1, H4, D1, W1, MO1 (Weekly Monthly I examine after a week)
At present I am looking 17 Currency Pairs, until it had been around 25 but I understood a few of those pairs are highly correlated either way, so it's a waste of time to keep trying those pairs. Might cut down couple more in future according to pair volatility. For instance EURUSD USDCHF are inversely correlated, so if EURUSD is going up USDCHF is going down, so there's absolutely not any point at looking both pairs.
I really don't find the reason speculating in how many pairs you are supposed to trade. Consider the shapes of the graafs and following which make up your mind wich one looks decent, something moving sideways isn't very attractive to trade, loe the curves that are smooth, consistently going down or up with good retracement and trigger signals.
Once you find em, put your lines set up and follow these ones.
Good luck
When discussing the number of pairs to have a look at and/or trade, we ought to probably break the pairs down first concerning correlations. As soon as you have correlated pairs in classes it may be slightly easier to narrow down and concentrate your attention more efficiently (rather than spending time on redundant activities), however many pairs you wind up trading.
I've always worked with the EUR/USD however have recently began to branch out to the rest of the majors using the USD as both the base or counter currency. I'm hoping that this will provide a bigger segment of the market in which to find opportunity and a smoother equity curve although still remaining within the more liquid pairs.
I check nearly all, and exchange the ones with obvious moves to minimize risk and maximize profitsOriginally Posted by ;