Do you Like Multiple trading pairs ?

This is a discussion on Do you Like Multiple trading pairs ? within the Forex forums, part of the Markets category; To be honest, I donít use multiple trading instruments in my live trading account, I work with only EUR/USD, USD/JPY, ...

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Old Sep 20, 2017, 11:18am   #1
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Do you Like Multiple trading pairs ?

To be honest, I donít use multiple trading instruments in my live trading account, I work with only EUR/USD, USD/JPY, GBP/USD and Gold! But that doesnít mean, I dislike others trading instrument! I add new trading pair according to my demo trading result! Besides, now I am testing EUR/JPY and GBP/JPY in my demo account, I need two months more for final decision on these two pairs!
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Old Sep 20, 2017, 12:44pm   #2
 
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Besides, now I am testing EUR/JPY and GBP/JPY in my demo account, I need two months more for final decision on these two pairs!
What do you look for in testing these pairs that may influence your decision to trade them? In other words, what findings would stop you from using them?

I'm struggling with forex, need some new ideas or direction.
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Old Sep 24, 2017, 7:21pm   #3
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there are 28 pairs in the G8 basket of currencies .......tell me what you are looking for in these pairs and i will tell you what to expect

hint ....the 7 pairs in the usd family will display 50% the personality of the USD

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Old Sep 28, 2017, 5:44am   #4
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What kind of multiple pair trading you are looking for, I have never work with so many pairs for my trading.
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Old Sep 28, 2017, 1:59pm   #5
 
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I use multiple pairs for the simple reason one pair might be sitting down not doing a dam but another might be on the move. Why waste time staring at a pair waiting for it to do something when time is better spent on another at the moment?
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Old Sep 28, 2017, 2:15pm   #6
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I use multiple pairs for the simple reason one pair might be sitting down not doing a dam but another might be on the move. Why waste time staring at a pair waiting for it to do something when time is better spent on another at the moment?
Why not extend this logic and have 10-20 pairs ? Then not a single one of them will be able to take you down no matter how badly it does. Rather than to lose the account, it's better to make smaller profits. Real trades, no matter how small, teach you real trading. Demo trades don't.
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Thanks! The following members like this post: piphoe
Old Sep 28, 2017, 2:26pm   #7
 
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EJ, I like your reply but from a logistical POV how do you keep track of 20 pairs? How many monitors does this take?
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Old Sep 28, 2017, 2:39pm   #8
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EJ, I like your reply but from a logistical POV how do you keep track of 20 pairs? How many monitors does this take?
I have one 30 inch monitor with 25 mt4 charts on it. I also have a less usable set up with 50 charts. But that's just for doing a quick scan across lots of markets. I hardly ever use that now, since I am no longer in a hurry. If I have reserves to spare, I can look for opportunities at a more leisurely pace. More often than not I already have plenty on my plate.

Here, red for short, blue for long, pink for new opportunities, grey for free slot.

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Old Sep 28, 2017, 4:55pm   #9
 
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I trade 15 different pairs as my strategy is fairly selective. I do not trade the JPY pairs as I don't like the volatility of that currency. You do have to be careful because the pairs are often correlated and you can get stuck in basically the same trade which increases your risk.
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Old Sep 28, 2017, 5:00pm   #10
 
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I trade 15 different pairs as my strategy is fairly selective. I do not trade the JPY pairs as I don't like the volatility of that currency. You do have to be careful because the pairs are often correlated and you can get stuck in basically the same trade which increases your risk.

Where can I get accurate pair correlations? I assume they vary a bit but where are some rough correlations to be found? thanks.
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Old Sep 29, 2017, 2:57pm   #11
 
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I use Oanda.

https://www.oanda.com/forex-trading/...cy-correlation
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Old Sep 29, 2017, 5:49pm   #12
 
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Thank you much! Nice tooll to have
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