# Trading multiple pairs



## djc0 (1 September 2009)

Sorry for the newbe question.

Most advice for beginners often recommend picking a pair and sticking to it. But from a purely technical point-of-view why should this matter?  Does each market have its own "character" that needs to be learnt?

For example, does it make sense to trade both GBP/USD and EUD/USD at the same time (in the evening Melbourne time, say).  I understand these two pairs are correlated, but not exactly.  Seems like you could "technically" trade on both of them and gain (or lose) differently.  Even on the 5m chart i have plenty of time to ponder more than one pair.

Thanks


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## Stormin_Norman (1 September 2009)

watch the correlation. maybe look for a set up on either of them; rather then trading both. if you follow my meaning.

the cable seems to be the most 'technical' currency - adhering to fibonacci lines and pivot points more then others.


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## Mr J (1 September 2009)

I trade all the Major pairs. Focusing on one or two may work for some approaches, and for other approaches it may not matter at all.



> I understand these two pairs are correlated




It is all correlated to a certain extent. I think it's worthwhile to watch them both, as they do vary enough to produce their own trades. Same for the AUD.


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## lasty (1 September 2009)

djc0 said:


> Sorry for the newbe question.
> 
> Most advice for beginners often recommend picking a pair and sticking to it. But from a purely technical point-of-view why should this matter?  Does each market have its own "character" that needs to be learnt?
> 
> ...




Given those two currency pairs that you have highlighted both are USD based therefore a weakness or strength in the USD should normally influence the outcome.However the EUR/GBP cross can also move reflecting the strength or weakness against each other.


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