Trade multiple trading pairs or only a few trading pairs?

[ajiz138]

Looking at the analogy, this is nothing but a job in the real world... so someone needs to have a more mature source of income, then for expansion purposes, we can look at other opportunities while still maintaining the previously mature income... the most important thing is to have a coin that is truly understood and also understands its movement patterns.

I really agree with this opinion, because I think this is very reliable for maintaining the existence of a trader.

In the eyes of others trading is a job but for me it's a business. But if we're just starting out, we can't really call it a business because we're not sure that we'll make money every week. Because to others instead of making money from trading, they lost a lot of money. And they continue to trade even though they always lose so if this happens, then what they are doing in trading is gambling.

It depends on what we consider trading as, there are also those who consider trading as their side job to get more income, because their main focus in looking for work is in the real world.

But it is true that if we do not have experience and knowledge then we will experience more losses, that is why we must first mature our knowledge of this trade. Do not let trading turn into a position where it is a job that spends money.

[bounceback]

In the eyes of others trading is a job but for me it's a business. But if we're just starting out, we can't really call it a business because we're not sure that we'll make money every week. Because to others instead of making money from trading, they lost a lot of money. And they continue to trade even though they always lose so if this happens, then what they are doing in trading is gambling.

Any difference between job and business? I think not problem for some one make trading as main job if can manage well with profitable earn monthly higher than their income as work offline.
I made trading is my main income behind spent all my daily day with online working but have time to manage with other income way from investing and staking coins.
Lose in trading is not much problem during not trade in future and have time get recovery back, but we need learn from mistake and take profit in the future must brave take cut loss to buy with lower price.

[bayu7adi]

Any difference between job and business? I think not problem for some one make trading as main job if can manage well with profitable earn monthly higher than their income as work offline.
I made trading is my main income behind spent all my daily day with online working but have time to manage with other income way from investing and staking coins.
Lose in trading is not much problem during not trade in future and have time get recovery back, but we need learn from mistake and take profit in the future must brave take cut loss to buy with lower price.

Some people consider a job as an activity of buying and selling services... so someone who works will not be able to experience losses because he sells services... that is usually suitable for those who do not like to speculate...

while business is usually related to profit and loss... such as buying and selling... in business, thinking is more dominant than energy, so people who do not yet have a main income from work are usually reluctant to do business because they are dealing with risks

[JunaidAzizi]

I believe that you can do whichever you want, it doesn't matter. I mean being a good trader or at least doing good trades means that you know what you are doing, in which case you could make money from both multiple pairs or it could be a few pairs. However, if you have no idea how to trade or a bad trader, then you can use just a single one or a million of them and you would still make a loss. All in all I would highly suggest that you should be considering this situation to be very dangerous and risky, and not deal with any of them at this moment. Just focus on what to do and how we could get over it.

People are sharing their experiences here, and I know that the experiences of every person are different; some are good, and some are very good. In this, I am sharing my own thoughts. If you are new or have some experience in trading, I suggest trading with a few pairs that will be more precise compared to multiple pairs, which can distract your mind and lead to incorrect analysis of the patterns, ultimately resulting in losses.

I am not saying that your suggestions are wrong, but I just want to make it easier for those who are new to trading.

[Faisal2202]

In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.

What is your opinion about this?

You are right if we will focus on one or two coins all the time then it also becoming easier to understand the nature of the coin without looking at charts for so long because with time we are already aware of how much potential this coin has, I have spent a lot of time on Gala and some other coins like 1 or 2 more, but I spent more time on gala when I started trading and with more time I realize more about the graph even though I had not extra technical skills to read candles but I was able to predict by seeing the charts.

With time I realize I am fed up with this coin as I was making loss then I thought why not give chance to another coin, so I bought Bnb which also was a good choice and then I invested in two more coins and after some days when I invested in the same two coins by being greedy I liquidated myself and lost my money and from that day I left future. Both trading in single and multiple coins have their own pros and cons I prefer we should change with the trend.

[Wiwo]

I believe that you can do whichever you want, it doesn't matter. I mean being a good trader or at least doing good trades means that you know what you are doing, in which case you could make money from both multiple pairs or it could be a few pairs. However, if you have no idea how to trade or a bad trader, then you can use just a single one or a million of them and you would still make a loss. All in all I would highly suggest that you should be considering this situation to be very dangerous and risky, and not deal with any of them at this moment. Just focus on what to do and how we could get over it.

People are sharing their experiences here, and I know that the experiences of every person are different; some are good, and some are very good. In this, I am sharing my own thoughts. If you are new or have some experience in trading, I suggest trading with a few pairs that will be more precise compared to multiple pairs, which can distract your mind and lead to incorrect analysis of the patterns, ultimately resulting in losses.

I am not saying that your suggestions are wrong, but I just want to make it easier for those who are new to trading.

I have experience a lot from trading in the short time that I have being trading and for sure, I is far better to trade a single coin than multiple coins, just as I mentioned in my earlier comment on the risk of trading multiple coins and my bad experience from such action.

My reason is that, I with a single coin, pier you can make a clear analysis and also build the basic concept and tool to always be on a profit side all the time or minimise losses.

[MrSpasybo]

I have experience a lot from trading in the short time that I have being trading and for sure, I is far better to trade a single coin than multiple coins, just as I mentioned in my earlier comment on the risk of trading multiple coins and my bad experience from such action.

My reason is that, I with a single coin, pier you can make a clear analysis and also build the basic concept and tool to always be on a profit side all the time or minimise losses.

For new traders, I think BTCUSD is the only pair they should focus on and trade to gain experience. BTCUSD has all the conditions of a reasonable trading pair: well-known, large trading volume, large number of traders participating, and less manipulation.

However, more experienced traders will seek out many trading pairs to take advantage of capital, opportunities, and time in the market to generate maximum profits. As I see it, they often trade other pairs like ETHUSD, DOGEUSD, BNBUSD, SOLUSD... and also make a lot of profit!"

[SmartGold01]

For new traders, I think BTCUSD is the only pair they should focus on and trade to gain experience. BTCUSD has all the conditions of a reasonable trading pair: well-known, large trading volume, large number of traders participating, and less manipulation.

However, more experienced traders will seek out many trading pairs to take advantage of capital, opportunities, and time in the market to generate maximum profits. As I see it, they often trade other pairs like ETHUSD, DOGEUSD, BNBUSD, SOLUSD... and also make a lot of profit!"

You are right about that because as a beginner who hasn't studied about the market movement or manipulation of other coin can never have experience to trade them. So it's important to focused on a single pairs for new traders because it would take much time to understand the overall market movement, for expert who has been in the space for long and knows the ways coins has been moving can eventually venture into trading variety of coins though sometimes it's create quicker ways to lose trade since they are always manipulative.