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How Many Markets Should a New Trader Focus on?

This is a question that I often get from new traders.

HOW MANY MARKETS SHOULD NEW TRADERS FOCUS ON?

My recommendation for new traders is to focus on 2 to 3 markets.

Follow and observe the 2 to 3 markets that you have selected and get use to the movements in those markets.

You will notice certain price behaviors that are unique to that market.

You will also begin to gain more confidence trading that market (I recommend that all new traders start trading using a DEMO account).

INCREASE THE NUMBER OF MARKETS YOU MONITOR AS YOU BECOME MORE EXPERIENCED

More experienced traders will usually look at more markets.

Although there are some who specialize on a few markets.

For me, I go through more 20 markets at a time.

I look for setups and opportunities in those markets.

When the technicals and the fundamentals line up, I will then initiate a trade for that particular market.

However, at times, I do take a trade solely based on technicals.

If you are new to trading, it is good that you focus on trading 2 to 3 markets.

It will be easier on you to focus on a small number of markets.

It will be less confusing for you too.

Don’t worry about missing opportunities. You need to get used to looking at multiple time frames, understanding price action and other things first.

Acquire the necessary skills in trading first before going into more markets.

The markets will always be there.

So no hurry.

Have a good day ahead.

Cheers!

Trade well.

Ardy Ismail


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By | 2017-07-14T11:17:48+00:00 July 14th, 2017|Categories: Forex Trading Articles, Others|0 Comments

About the Author:

Ardy Ismail is a Professional Forex Trader specializing in the Forex, Gold and Stock market. He trades using both Technical and Fundamental Analysis and teach other traders how to trade using higher time frames and multiple time frames. He started trading the stock market in 1999. Seeing how trading Forex and the Gold market can be a lucrative business, he started trading these markets in 2008 and continues to do so till this day.

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