Do not trade what You Dont Understand

 

  Years earlier when I started to Trading Forex, as usual I open MetaTrader trading platform and open a lot of chart with different Pair: XAU/USD, EUR/USD, GBP/USD, GBP/JPY, etc. Even the exotic pair like XAU/ZAR or USD/MXN. I monitor every pair and look for the opportunity to jump into every trade that possible. 

   Little that I know that time, to monitor one pair is already quite exhausting. Aside from doing technical analysis like drawing support and resistance line. I also have to follow the news related to this pair for fundamental analysis. News for Major pairs like EUR/USD, GBP/USD  are rather easy to find, because 80% of people are trading this pair every day !. But news for exotic pair for ZAR or MXN is hard to find.

   Trading currency pair with an unknown situation is fatal, Fear can grow easily on the trader's mind which will lead to doubt. It is Better to only focus on 3 or 4 Major pairs where news is easy to find.

 

The Key is FOCUS: It is better to trade one pair but Winning rather than trading multiple pair but Losing

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