4 Answers
<p id="isPasted">I monitor two assets and trade 1-2. Why? Because of correlation. For example, EURUSD and USDJPY have at times strong correlation. One predicts the other assets next move.</p><p>The main reason why you see people trading or monitoring too many assets is often inexperience.</p><p>When you can't understand price action and follow indicators and must wait all day for your indies to line up, it is easy to get tired of waiting and open more and more assets to see whether you can get a signal there instead.</p>
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<p><br>It is a tough question to answer, because it completely depends on your trading knowledge and experience. If you have a good experience, then you can follow too many currencies in the demo to see the performance of how it works. Otherwise, as a newcomer it is more appropriate not to trade too many currencies at the same time, it can get too overwhelming, better to pick any 2-3 pairs till you get a hang of them.</p>
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<p><br>One should consider the tolerance for risk, desire for liquidity in the market — entering and exiting trades at will — and your knowledge of specific currencies across the short and long term."" After choosing the pair you want to trade then you can decide as per their prices and capital you are willing to spend."</p>
4 Views
<p><br>When you are experienced, you know there are lots of details on the charts that need to be analyzed and you will find many trading opportunities on 1-2 assets so the need for overwhelming yourself with too many charts goes away. If it wasn't due to correlation being a strong signal, I would even just trade 1 currency pair.</p>
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