6 min

#536: Should You Trade Only the Major Forex Pairs‪?‬ Online Forex Trading Course

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Should You Trade Only the Major Forex Pairs?



Podcast:



Signup For my Forex Masterclass

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch The5ers webinar

#536: Should You Trade Only the Major Forex Pairs?

In this video:

00:32 – Should I trade just the Major FX pairs?

01:34 – Don’t limit your options.

03:08 – Trades on Minor and Exotic pairs this week.

04:00 – Be careful with Sell trades and widening spreads.

05:10 – Attend my Masterclass and book a call with us.

05:22 – Webinar with The5ers.

05:38 – Blueberry Markets.       



Is it best to trade the major forex pairs only, or is it best to trade the exotic pest? It's a question that I get asked quite often, and this week I've got some great examples of why I trade both. Let's get into it a more right now.



Hey there, Forex Traders! This is Andrew Mitchem here. The Forex Trading Coach with video and podcast number 536.



Should I trade just the Major FX pairs?



So as more and more platforms and more brokers offer more currency pairs, the question becomes, should I just focus on the major currency pairs? And there are obvious advantages to that. Pretty much the main ones would be spreads are generally tighter, you generally find the gaps and you generally find there's more people trading it. So the volume, liquidity, etc. is better.



Therefore the moves are generally more flowing, more consistent. It also means, if you like, trading the shorter time frame charts that you or like trading quite often with frequency, you'll find that you'll find the spreads been so much tighter means that you can take trades on shorter time frames and more often and you're not paying, you know, massive spreads in the big movements just to get to break even. So there are certainly some advantages to trading just the major pairs.



Don’t limit your options.



Now, some of the disadvantages would be this one, it completely limit your options. So to me as a trader who's looking for sudden like couple of patterns, why limit your options? It's like, why limit the markets? This week I've taken trades on the Nasdaq and the S&P and we've taken trades on the JPN225



So why limit to just, you know, the forex pairs? That's my thought. If the system the strategy worked on other markets as well. Last week you'd have heard me talking about a corn trade that I took, you know, which quite often take metal trades. We take crypto trade. So I don't think you should limit yourself if you find that your strategy worked on those other markets.



Likewise, the downside were trading and focusing just purely on the main major forex pairs is that you tend to find they pretty much get dominated by the US dollar. So for instance the EUR/USD, GBP/USD, AUD/USD, the NZD/USD, USD/JPY, the USD/CHF and you know the old US dominant. And of course there are other, you know, sort of major pairs as well, but you tend to find that the US and you know and the yen ...

Should You Trade Only the Major Forex Pairs?



Podcast:



Signup For my Forex Masterclass

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch The5ers webinar

#536: Should You Trade Only the Major Forex Pairs?

In this video:

00:32 – Should I trade just the Major FX pairs?

01:34 – Don’t limit your options.

03:08 – Trades on Minor and Exotic pairs this week.

04:00 – Be careful with Sell trades and widening spreads.

05:10 – Attend my Masterclass and book a call with us.

05:22 – Webinar with The5ers.

05:38 – Blueberry Markets.       



Is it best to trade the major forex pairs only, or is it best to trade the exotic pest? It's a question that I get asked quite often, and this week I've got some great examples of why I trade both. Let's get into it a more right now.



Hey there, Forex Traders! This is Andrew Mitchem here. The Forex Trading Coach with video and podcast number 536.



Should I trade just the Major FX pairs?



So as more and more platforms and more brokers offer more currency pairs, the question becomes, should I just focus on the major currency pairs? And there are obvious advantages to that. Pretty much the main ones would be spreads are generally tighter, you generally find the gaps and you generally find there's more people trading it. So the volume, liquidity, etc. is better.



Therefore the moves are generally more flowing, more consistent. It also means, if you like, trading the shorter time frame charts that you or like trading quite often with frequency, you'll find that you'll find the spreads been so much tighter means that you can take trades on shorter time frames and more often and you're not paying, you know, massive spreads in the big movements just to get to break even. So there are certainly some advantages to trading just the major pairs.



Don’t limit your options.



Now, some of the disadvantages would be this one, it completely limit your options. So to me as a trader who's looking for sudden like couple of patterns, why limit your options? It's like, why limit the markets? This week I've taken trades on the Nasdaq and the S&P and we've taken trades on the JPN225



So why limit to just, you know, the forex pairs? That's my thought. If the system the strategy worked on other markets as well. Last week you'd have heard me talking about a corn trade that I took, you know, which quite often take metal trades. We take crypto trade. So I don't think you should limit yourself if you find that your strategy worked on those other markets.



Likewise, the downside were trading and focusing just purely on the main major forex pairs is that you tend to find they pretty much get dominated by the US dollar. So for instance the EUR/USD, GBP/USD, AUD/USD, the NZD/USD, USD/JPY, the USD/CHF and you know the old US dominant. And of course there are other, you know, sort of major pairs as well, but you tend to find that the US and you know and the yen ...

6 min