Trade multiple trading pairs or only a few trading pairs?

[Captain Corporate]

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.

[Charles-Tim]

For analysis with more than 10 coins, of course the time will be divided into very little... and multi-tasking is not very suitable for me at the moment, who still considers trading as a side job.

Trading just only one coin is time exhausting for me. If I want to trade multiple pairs, it has never been more than 3. But I prefer just one pair most of the time. But the main reason I quoted you is that you posted that trading can be a side job. Are you making profit from it? I use low amount of money to trade which makes my profit and loss to be very small and I see it not as side job.

[Fivestar4everMVP]

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 absolutely right.
And another way to explain this is, take your complete 10 fingers and put them all in your mouth at once, if you are comfortable having them all in your mouth, then it's completely OK to trade multiple pairs in the market, so long the money is large enough to divide into those several pairs.

But if having your 10 fingers in your mouth makes you uncomfortable, then I understand that so also will trading multiple pairs at the same time make you uncomfortable, and may possibly lead to loses, because keeping up with all the pairs that a position has been open on can be really challenging.

So yeah, for comfort, and to better understand the market so as to win more trades, it's absolutely good for the trader to focus on just a few pairs, or even one pair only, as long as the choosen pair has enough liquidity and volatility.

[Wiwo]

The thing is that I do well more when I trade in a single pier than with multiple piers this is because at every point that I recorded my worst trading profits is when I traded in two coins, and this has been my worst experience since I started trading, trading a single coin is and will always remain my best trading approach.

Although some traders can also do well trading multiple coins and in multiple piers, it all depends on each trader's experience and tools, it is then hard to make a balance between the two to point out a difference between them.

[jeraldskie11]

For me, it's better to use one trading pair particularly in crypto because they have different behavior, unlike for forex and stocks. One of the reason why I will not recommend to trade multiple pairs is because of volatility, and crypto are the volatile ones especially those who only have small marketcap. I know there are traders here who using multiple trading pairs, but for newbies, it's not recommendable. Someday, you will determine the reason why.

[LogitechMouse]

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?

I might be a failure when it comes to trading in crypto, but based on my experience, the more trading pairs you use, the more stressful it will be.

More trading pairs = more coins to be watching with. The more coins you're watching, the more charts you will be watching as well, and for me, it's stressful and kind of overwhelming since I'm a newbie at that time. I don't know for other experts out there, but there might be some who can focus on multiple trading pairs because they've used to it already since they might be trading for years now.

For most, it's stressful to trade on multiple pairs, and you will feel uncomfortable as well and because of that, you might make bad decisions.

[Rruchi man]

What is your opinion about this?

Your view on trading a few pairs and not everything is the same with mine because I don't believe that every trader should be into trading all pairs. If you have a discussion with old traders, they will tell you that they have particular pairs that they trade, and they have been following those pairs for years.

As a new trader, the fastest way to loose a lot of money to trading is to focus your attention on many currency pairs.

[Mr. Magkaisa]

For me, it's better to use one trading pair particularly in crypto because they have different behavior, unlike for forex and stocks. One of the reason why I will not recommend to trade multiple pairs is because of volatility, and crypto are the volatile ones especially those who only have small marketcap. I know there are traders here who using multiple trading pairs, but for newbies, it's not recommendable. Someday, you will determine the reason why.

       -     For traders who have been in the crypto business for a long time, I think it is fine to do multiple pairs in trading activity as long as the trader is able to manage what he is doing properly or correctly.

Because if it does not help him to get earnings, it is better that he stick to a trading pair first, and Bitcoin is seen as the best choice for this matter. And you are also right that it is not arguable for newbies in this field.

[jeraldskie11]

For me, it's better to use one trading pair particularly in crypto because they have different behavior, unlike for forex and stocks. One of the reason why I will not recommend to trade multiple pairs is because of volatility, and crypto are the volatile ones especially those who only have small marketcap. I know there are traders here who using multiple trading pairs, but for newbies, it's not recommendable. Someday, you will determine the reason why.

       -     For traders who have been in the crypto business for a long time, I think it is fine to do multiple pairs in trading activity as long as the trader is able to manage what he is doing properly or correctly.

Because if it does not help him to get earnings, it is better that he stick to a trading pair first, and Bitcoin is seen as the best choice for this matter. And you are also right that it is not arguable for newbies in this field.

Yeah, that's what I'm saying. Newbies are prone to losses that's why they have to focus on one pair and also for better experience in trading. If a trader is already profitable single pair and wanted to try multiple, then why not? As long as you can manage to make profit then go, we knew it if we're not profitable with multiple trading pair and if so, then go back to a single trading pair.

[bayu7adi]

Yeah, that's what I'm saying. Newbies are prone to losses that's why they have to focus on one pair and also for better experience in trading. If a trader is already profitable single pair and wanted to try multiple, then why not? As long as you can manage to make profit then go, we knew it if we're not profitable with multiple trading pair and if so, then go back to a single trading pair.

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.

[JunaidAzizi]

What is your opinion about this?

In multiple pairs, you can save your losses. If you incur a loss in one pair, you can easily cover that loss in another pair and maybe even make profits in another pair. In that way, you can cover your losses and earn profits at the same time. However, it is very difficult to manage all these pairs at a single time. Every pair has its own movements, and they are totally different from each other. Therefore, you have to understand and keep track of all the other movements. I prefer to use a fewer number of pairs so that you can easily manage them and gain expertise in those pairs. This way, your margin will increase by 40 to 70%.

[hugeblack]

by multiple trading pairs Do you mean trading multiple altcoin/bitcoin pairs, altcoin/altcoin pairs, or altcoin/USDT pairs?
In the case of altcoin/USDT pairs, trading is relatively easier due to the ease of making a profit at the support and resistance levels of USDT, and the matter will become more difficult with altcoin/altcoin pairs and altcoin/bitcoin pairs. Therefore, if you are a beginner or have limited experience, it is better to trade only in altcoin/USDT pairs.

[Roseline492]

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?

Your Statment seem more like a forex trader because is actually one of the trading that involves so much mastering and otherwise, however in trading as a whole it doesn't make sense when a trader focused on numerous trading pairs because they will hardly understand anyone or master anyone of them, perhaps that's actually what most people failed to understand.

However is good for you to have understand the importance of focusing only a few pairs because overtime you will get use to it and understand how they behave on a certain period of time or months, perhaps one of the reasons why most people have become a professional trader now is not because of trading numerous pairs but instead they just focus one few pairs and study it very well.

[milewilda]

by multiple trading pairs Do you mean trading multiple altcoin/bitcoin pairs, altcoin/altcoin pairs, or altcoin/USDT pairs?
In the case of altcoin/USDT pairs, trading is relatively easier due to the ease of making a profit at the support and resistance levels of USDT, and the matter will become more difficult with altcoin/altcoin pairs and altcoin/bitcoin pairs. Therefore, if you are a beginner or have limited experience, it is better to trade only in altcoin/USDT pairs.

It would really that getting in line in someones experience and if you are really just that still a noob then it would really be that understandable that you would really be focusing on a single pair
and on the moment that you do already obtain that sufficient experience then this is the time that you would really be making adjustments. If you would be deciding on trading with multiple pairs
then it would be your choice and as long you could really be able to bare up with the risks then go ahead, but if you do prefer on having that less

[jeraldskie11]

Yeah, that's what I'm saying. Newbies are prone to losses that's why they have to focus on one pair and also for better experience in trading. If a trader is already profitable single pair and wanted to try multiple, then why not? As long as you can manage to make profit then go, we knew it if we're not profitable with multiple trading pair and if so, then go back to a single trading pair.

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.