Every pair has its own specific

[StupidFishy]

Despite the fact that you can trade with as many pairs as you want, it is advised that you only ever trade with one to two pairs at once. Because every pair trends differently and necessitates specialised knowledge, this is. Any significant pair can be used to begin trading. Because it is simpler to trade, EUR/USD is better.

 

[RoughCousin]

Every pair behaves differently, which is why one strategy may not work for every pair. When you want to switch over to another pair, you should first try to learn the behaviour patterns of the pair and its fundamentals. Then, use a demo account to build a strategy around that pair. Test that strategy thoroughly and then finally apply in a live account.

Yes, every currency pair has two currencies, each with its own set of characteristics. Along with fundamentals of the currency pairs, understanding the correlation between the currencies also helps in making better predictions of the currency price movement.

 

[Substractor]

The characteristics of different pairs vary. All pairs move differently, and their volatility and liquidity differ. Some pairs have greater liquidity than others. For example, EUR/USD is the most liquid pair, accounting for more than 80% of all trades. Each pair necessitates a unique approach because the factors you consider when analysing one pair may not apply to another. That is why it is preferable to trade with 1-2 pairs in the beginning.