Topic: Single pair trading or double pair? (Read 449 times)
Thank you all for your comments and contributions, I guess I will have to stick to the single pair trading am used to and build my knowledge and skills before moving In to add another trading pair.
It depends on your acquired knowledge over time as you can decide to trade in both ways to make quick profits, single pair is only advised for newbies who have not to build adequate trading capacity and are easily carried away by emotions.
That will be up to you because that will depend on your skills.
If the market moves are not fast, two pairs will be good as you can monitor those pairs together.
But if the market moves fast and one coin shows good progress for up and down of the price, I think one pair is enough because if you try with the second pair, you can feel difficult to monitor the movements.
Unless you have high skills, you do not have to use two pairs at the same time because that will need more focus to analyze the movement.
Skills and experience would really vary because this would really be your foundation when it comes to trading and of course with having sufficient capital because double pairing is something needing with capital alsoIf the market moves are not fast, two pairs will be good as you can monitor those pairs together.
But if the market moves fast and one coin shows good progress for up and down of the price, I think one pair is enough because if you try with the second pair, you can feel difficult to monitor the movements.
Unless you have high skills, you do not have to use two pairs at the same time because that will need more focus to analyze the movement.
and handling out two at once is not really just the same when you are handling one plus this current condition or characteristics of the market where everything is unpredictable then its really important
that you should really know on what you are doing.
Its up on op's choice because its his money and as long he do able to handle those things up then its his choice.
If he can handling one pair without a problem, then he can try to analyze more to find which pair that looks good for him and start the next pair.
If that will not be a problem, he can carry on with that and continue to trade while he needs to see how good the result is after two weeks.
Maybe in this situation, he can try with two pairs as the market moves good but be careful because the market is still unpredictable.
That will be up to you because that will depend on your skills.
If the market moves are not fast, two pairs will be good as you can monitor those pairs together.
But if the market moves fast and one coin shows good progress for up and down of the price, I think one pair is enough because if you try with the second pair, you can feel difficult to monitor the movements.
Unless you have high skills, you do not have to use two pairs at the same time because that will need more focus to analyze the movement.
Skills and experience would really vary because this would really be your foundation when it comes to trading and of course with having sufficient capital because double pairing is something needing with capital alsoIf the market moves are not fast, two pairs will be good as you can monitor those pairs together.
But if the market moves fast and one coin shows good progress for up and down of the price, I think one pair is enough because if you try with the second pair, you can feel difficult to monitor the movements.
Unless you have high skills, you do not have to use two pairs at the same time because that will need more focus to analyze the movement.
and handling out two at once is not really just the same when you are handling one plus this current condition or characteristics of the market where everything is unpredictable then its really important
that you should really know on what you are doing.
Its up on op's choice because its his money and as long he do able to handle those things up then its his choice.
Trading requires some level of technicalities and if you have not mastered a pair, it will be dangerous to dive in for double pair unless you do that on an exchange that allows the stop loose features in that way even if you are not active on a pair you don’t have to border about losing as your trade will get executed once it reached the limit you have set.
That will be up to you because that will depend on your skills.
If the market moves are not fast, two pairs will be good as you can monitor those pairs together.
But if the market moves fast and one coin shows good progress for up and down of the price, I think one pair is enough because if you try with the second pair, you can feel difficult to monitor the movements.
Unless you have high skills, you do not have to use two pairs at the same time because that will need more focus to analyze the movement.
If the market moves are not fast, two pairs will be good as you can monitor those pairs together.
But if the market moves fast and one coin shows good progress for up and down of the price, I think one pair is enough because if you try with the second pair, you can feel difficult to monitor the movements.
Unless you have high skills, you do not have to use two pairs at the same time because that will need more focus to analyze the movement.
Well, based on my experienced and what I am doing now is that I do both single and double pair due to it gave profit to me actually and it depend in the scenario in the market whenever I decide to do it. But of course if you have a better idea aside from this matter you can tell us here or share anyway.
So I started my trading journey some time ago with a single pair but am considering expanding trading capacity and capital so am wondering, should I continue trading on a single pair but with large capital, or I should trade on double pairs.
Do I need your sincere advice?
Do I need your sincere advice?
What's the result? You should give your time making a result. Trading on single pair or not, both have the ability to give you profit. Just continue trading for long and see what's the effective thing to do. The result will not be seen in just a few trades. You need lots of trials and tests.
Continue trading and build your own trading experience. It will help you to decide later on.
So I started my trading journey some time ago with a single pair but am considering expanding trading capacity and capital so am wondering, should I continue trading on a single pair but with large capital, or I should trade on double pairs.
Do I need your sincere advice?
I can tell you that was okay but I can't tell you if that really works on you. I think you should have to try it, in fact, you can stop it if you never see good results. It is all about self-assessment and nothing who could do that but it was you. Do I need your sincere advice?
I use 2-3 trading pairs very often, most on stablecoins pairs. Well, of course, I'd never say it all in profiting as we know that losses might be happening but if we don't get hard to manage our trades, it means it was really good to go. You'll certainly have to try it.
So I started my trading journey some time ago with a single pair but am considering expanding trading capacity and capital so am wondering, should I continue trading on a single pair but with large capital, or I should trade on double pairs.
Do I need your sincere advice?
Have you been profitable by trading this way? If so it seems to you that a great deal of the time you are not doing much and as such you are missing some profitable opportunities? If this is the case then I think you are justified in trying to expand yourself and trade more pairs, but do so slowly, there is not need to try to trade so many markets at once especially since you do not know what is that like, so adding one pair to your current workload seems like the right thing to do.Do I need your sincere advice?
effort because handling out lots of pairs does basically means that you would need too watch up lots of trading charts on it which means if you are really having some extra time or going full time
then you could handle it but if not then 1 or 2 pairs would be enough or does really depend on your preference and capital of course.
So I started my trading journey some time ago with a single pair but am considering expanding trading capacity and capital so am wondering, should I continue trading on a single pair but with large capital, or I should trade on double pairs.
Do I need your sincere advice?
Have you been profitable by trading this way? If so it seems to you that a great deal of the time you are not doing much and as such you are missing some profitable opportunities? If this is the case then I think you are justified in trying to expand yourself and trade more pairs, but do so slowly, there is not need to try to trade so many markets at once especially since you do not know what is that like, so adding one pair to your current workload seems like the right thing to do. Do I need your sincere advice?
Like in forex markets, you have to sell one option for another one unless you wanna hedge pairs in order to protect future volatility effects. If you think one coin will perform better against another coin choosing that pair for trading is smart idea but some pairs are more volatile than others. Having a inner feeling will tell you which option will suit your trading style.
I think multiplying the nets would be more profitable. If you want to catch fish isn't it better with many nets and different places?
Because if you focus on 1 coin and the market is in the red, you have no chance to cover losses. But if you have a lot of different coins you still have a chance to cover other losses.
Because if you focus on 1 coin and the market is in the red, you have no chance to cover losses. But if you have a lot of different coins you still have a chance to cover other losses.
My advice to most newbies traders is to take things easy and take the time to develop and grow in the strategy before diving into more complex trading methods, double pair trading is one of the most complex trading methods and one need to master the timing and ride with the hype of the market otherwise you lose your trading capital.
So I started my trading journey some time ago with a single pair but am considering expanding trading capacity and capital so am wondering, should I continue trading on a single pair but with large capital, or I should trade on double pairs.
Do I need your sincere advice?
if you want to ride for the hype only then probably its a good idea to have another pair so that you ride immediately and can obtain quick profits. If not and you want to trade for long term then rely to one pair which for you can guarantee a good return after all, such bitcoin or ethereum because these two is already proven and tested so you should focus on it. Don't rely with new project remember that, unless if you know it will last and make good results, because if not it's a big mistake to rely in it. So think about it always. Do I need your sincere advice?
Of course it would be better if you trade your capital in different pairs. It would be better to trade in different coins. However, it will be a little difficult in the beginning. Because it is difficult for a beginner to keep an eye on different pairs of different coins. But over time, that is likely to change.
Trading in different pairs may increase your profits quickly, but that is also subject to high risk. As a new beginner, I think it’s better to stick to a pair for some time before jumping to another. If you have already skilled yourself in that pair, you can then move to add another coin. This way you will not be taken off the guide.
Trading requires capital management. don't put everything in one basket. You may need several other altcoins to trade, but if you only focus on one coin it's fine as long as your management and strategy are right. do not use all the capital, use it wisely so that when the price continues to fall you have a reserve of funds to buy at a low price.
So I started my trading journey some time ago with a single pair but am considering expanding trading capacity and capital so am wondering, should I continue trading on a single pair but with large capital, or I should trade on double pairs.
Do I need your sincere advice?
If you're already profitable on the single pair I don't see why you should want to seek more capital and sink it there just to expand into more pairs. Why not you allow the account grow slowly but steadily. That way you also get to build your confidence level and have a full mastery of your trading system and plan. No trader is profitable just because they trade many assets or instruments. No, it doesn't work that way. In fact, it misleads and distracts traders who do so, except they already had a firm grip on the system they've. There are traders who only trade Bitcoin and are profitable doing that.Do I need your sincere advice?
I think that would depend on your strategy and your approach towards trading. Whether a single pair, double pair, or multiple pairs for your strategy. If you can monitor more coins on the specific strategy, then it's best to have numerous pairs. You should do that by that is to decide your trading limit and hope that it goes your way.
You can imagine it this way. If you have a $1000 balance and have double pairs, you could either split that $1000 on the specific pairs, whether you will use the $500 or split it to multiple trading opportunities by averaging your entry point.
Having multiple pairs could give you more trading opportunities, and that would be awesome if you could trade it all. That's what I do with my spot account and continuously change it 24/7 with my Gunbot. It makes it easy to deal with multiple pairs, and the averaging entry point is automatic if you set it to your strategy.
You can imagine it this way. If you have a $1000 balance and have double pairs, you could either split that $1000 on the specific pairs, whether you will use the $500 or split it to multiple trading opportunities by averaging your entry point.
Having multiple pairs could give you more trading opportunities, and that would be awesome if you could trade it all. That's what I do with my spot account and continuously change it 24/7 with my Gunbot. It makes it easy to deal with multiple pairs, and the averaging entry point is automatic if you set it to your strategy.
This is just my suggestion and my personal opinion, don't go with one trade with large capital it can easily ruin your fund. There was some things written on the books that I have read before that every trade you are doing should not exceed 10% of your total capital, for example you have a total of $100 then whenever you open a trade you should only use a maximum of $10 per trade.
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