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  1. #1
    Rookie Member

    do professional traders stick with just one material to trade with? !!!

    I mean I know there is a lot of things you you can trade with but do professional traders only stick with one or two materials they are most familiar with? how does it work generally. I can't imagine some traders being able to keep track of all of them as there is so many.

  2. #2
    Legendry Member milos's Avatar
    Hello Quad234!

    If you can read the charts you can trade assets whatever you like. I trade currency pairs, commodities, indices and stocks. I watch the charts and when I see I take a signal.

    I use currency correlation, commodities currency like AUD and CAD.I usually trade correlation the following
    Put option on EUR/USD, GBP/USD, AUDU]/USD and call option on USD/JPY, USD/CAD, USD/CHF or vice versa
    Put option on USD pairs and call on gold, oil, silver, euro, pound, aussie.

  3. #3
    Rookie Member
    Quote Originally Posted by milos View Post
    Hello Quad234!

    If you can read the charts you can trade assets whatever you like. I trade currency pairs, commodities, indices and stocks. I watch the charts and when I see I take a signal.

    I use currency correlation, commodities currency like AUD and CAD.I usually trade correlation the following
    Put option on EUR/USD, GBP/USD, AUDU]/USD and call option on USD/JPY, USD/CAD, USD/CHF or vice versa
    Put option on USD pairs and call on gold, oil, silver, euro, pound, aussie.
    I was just curious because I thought watching 1 or 2 things closely instead of mutiple ones would be a lot less taxing and stressful.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Quad234 View Post
    I mean I know there is a lot of things you you can trade with but do professional traders only stick with one or two materials they are most familiar with? how does it work generally. I can't imagine some traders being able to keep track of all of them as there is so many.
    That's a great question. You can trade as many assets as you are comfortable with, the caveat is that for a newbie less is more if you know what I mean. It takes time to understand how one market works, it can be confusing to try and trade gold the same way you trade oil, or an index, because all markets are a little different. The best is to pick a few, I like to stick to spx, gold, oil, usd/jpy and eur/usd, and get to know them really well.

  5. #5
    Legendry Member Okane's Avatar
    Quote Originally Posted by Quad234 View Post
    I mean I know there is a lot of things you you can trade with but do professional traders only stick with one or two materials they are most familiar with? how does it work generally. I can't imagine some traders being able to keep track of all of them as there is so many.
    Depends. If you mean pro as in pro working for a firm/bank etc then I am pretty sure they trade as many assets as possible.
    Hence the multi-screen pictures you usually see when you Google "Traders/Trading".

    Now if we are talking about "retail traders", like us sitting at home with no pressure from a boss who needs us to make at least x% at the end of the week
    or we are fired, then that's another story. Then it's up to you.

    I mean for me personally, I can trade only one asset and be very happy about it, take 2-3 trades a day and get it over with.

    But I actually trade at least 4 assets as of lately for various reasons - one is due to currency correlation
    Find out more on Currency Correlation Explained

    The second reason is that during certain days, one asset might be in consolidation or lack volatility
    Find out more about Volatility: "Profit on Volatile Currency Pairs with Binary Options" - Therefore, it's good to have another asset with "decent" volatility when the other is "sleeping" or not trending well.

    Third reason - I am helping my students so I need to look at more assets and help them interpret the charts or help them with forecasts.
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  6. #6
    Legendry Member milos's Avatar
    Quote Originally Posted by Quad234 View Post
    I was just curious because I thought watching 1 or 2 things closely instead of mutiple ones would be a lot less taxing and stressful.
    Professional traders who trade for clients have to time to think about stress. They managed a dozen accounts on daily basis. They can trade 1-2 trade per account using by Asian, European and the US trading session.

    During Asian session they usually trade AUD/USD,USD/JPY,NZD/USD,AUD/JPY and NZD/JPY pairs.During European session they trade EUR/USD,GBP/USD/CHF,EUR/GBP while during US session they trade USD/CAD, EUR/CAD, GBP/CAD.

  7. #7
    Legendry Member willyw's Avatar
    Quote Originally Posted by Quad234 View Post
    I mean I know there is a lot of things you you can trade with but do professional traders only stick with one or two materials they are most familiar with? how does it work generally. I can't imagine some traders being able to keep track of all of them as there is so many.
    Mike is correct, different assets have their own characteristics. Let their characteritics and behavior will helps you in trading them. Professionals can trade many pairs, they too start from 1 asset and gradually increase to several assets.

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