Why should I trade only one pair as a Forex beginner? (2024)

You might be wondering if it is better to trade just one pair, or if you should diversify your portfolio.

It can be tempting to try and trade as many currency pairs as possible. However, this is generally not a good idea, especially if you are a beginner to Forex trading.

There are a few reasons for this:

• First, it can be difficult to keep track of multiple pairs, especially if you are starting out. This can lead to you making mistakes and losing money.
• Second, when you focus on just one pair, you can get a better understanding of how that pair moves and what factors affect it. This can help you make better trading decisions and ultimately make more money.
• Finally, the other reason that professional traders recommend that you trade only one pair when you are starting out is that it can often be emotional to watch your money move up and down. If you are only focused on one pair, then you will be less likely to make an emotional decision.

So, if you are a beginner, it is generally best to focus on just one pair.