Single pair trading or double pair?

[RILWAN]

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?

[Johnyz]

You can do both considering you analyze the market very well since you are trading I assume you are knowledgeable enough so there’s no reason to limit yourself.

Though in trading, we don’t always go all in so better to still diversify and appreciate every small wins because in long term, if you did this consistently you can still be profitable. Its ok to win small consistently, just be patience because that small profit will become big once you use it again to reinvest.

[Oshosondy]

I will advice you to go for single pair first,I noticed the coins prices go in the same direction which will make the result to also likely similar, but having too much coins can be somehow, why not just study one coin very well like bitcoin and use it to trade. I only prefer just one coin because I noticed they all move together in one direction, I mean all the coins, I will advice you to go for only single coin pair.

[samcrypto]

You must have more options to choose when you trade, you can analyze many and if you decide to just focus on one, that’s also possible. If I’m too busy to monitor the market, I just trade on one coin but I never put my money all in because I know the risk of it and it can burn my money if I made a mistake. Trading is not that complicated if you know what to do, set up everything now and trade positively.

[passwordnow]

Try to do both of it and see how effective you are with either of it. We're not the same as we trade and results really vary as per trader. You have to look it at your own experience which is more profitable to you. So if you're good with the first pair and it's profitable then try to stay there for a week or so and then if it's no longer profitable, change your strategy and do the other. In the end of it, it's still how you trade, how you analyze and decide per trade you do.

[Dragonfund]

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?

Personally, based on my experience, I do single trades with large cash, but how can I control loss? It's fundamental analysis, and I don't take that lightly since it's always my backbone if my position doesn't go as anticipated.
Another tip is to trade when bitcoin is stable, you don't want to increase your trade risk when bitcoin has no direction. Also, make sure your entry is always on or after support and your exit is always on or before resistance.

[nelson4lov]

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 I can help you, then I first need to understand your dilemma. I checked Google to see what's the difference between a single pair and double pair. From what I know, you only need to have a base currency in other to trade for another eg: BTC/USDT. If anyone has a better idea, I'd appreciate it. By the way, if you're worried about pumping money in, I suggest putting it linearly and not immediately.

[XCANA]

I will advice you to go for single pair first,I noticed the coins prices go in the same direction which will make the result to also likely similar, but having too much coins can be somehow, why not just study one coin very well like bitcoin and use it to trade. I only prefer just one coin because I noticed they all move together in one direction, I mean all the coins, I will advice you to go for only single coin pair.

I don't believe coins move in the same direction as you advice op above and even if coins move in the same direction which bis unlikely the percentage increase in one coins is quite different from the other coins. OP, I don't think you really need anyone advice because you know what to do. Am sure no one advice you as at the you started single per trading and you are doing well.

[3la9l_kolbaCa]

You must have more options to choose when you trade, you can analyze many and if you decide to just focus on one, that’s also possible. If I’m too busy to monitor the market, I just trade on one coin but I never put my money all in because I know the risk of it and it can burn my money if I made a mistake. Trading is not that complicated if you know what to do, set up everything now and trade positively.

Indeed, there's no complications but you must also consider the volatility of the market which put your funds into danger of losing in the long run. We need to watch over the different scenario that might have to exist, and let avoid and minimize all those negative chances. Don't be upset when we commit some mistakes, everything was a part of your growth in trading cryptocurrency.

[Hippocrypto]

Single pair is having less stress compared to double pair, during the fluctuating moments of your coins I think it was so hard to determine which asset will gain successfully. My advice for you is to focus first for something capable of sustainable profit, and do it optimally so you'll able to catch a better output. Have an averaging when buying and selling in order to protect your buffer capital.

[AmoreJaz]

Single pair is having less stress compared to double pair, during the fluctuating moments of your coins I think it was so hard to determine which asset will gain successfully. My advice for you is to focus first for something capable of sustainable profit, and do it optimally so you'll able to catch a better output. Have an averaging when buying and selling in order to protect your buffer capital.

i would suggest the same. if the OP is getting good results using single pair in his trading activities, just practice it and get his profits as much as he can. because moving to double or many pairs will likely get his life more complicated and may not catch up that easily. and if not getting the results he wanted, he will be disappointed. so don't push yourself too much. you will know when you are ready to add more trading pairs.

[GreatArkansas]

How you analyze the market is a must here.
Although finding good trading pairs is also good especially since the trading volume is high. Trading on multiple trading pairs is okay for me, the best way to start is start scanning different pairs starting from the highest trading volume, you can see the trading volume on particular exchanges, you can sort them by trading volume.

[Wexnident]

I'd go for a single pair for now, and try to research and study about another pair while checking out the results of your first pair. If it turns out pretty good, then continue doing so while trying to venture into the second pair, but if not, I'd suggest trying to check out what's wrong with what you're doing in you're current pair and try to remedy it first. It's could be rather difficult to handle two pairs if you're pretty new to trading, so I'd suggest getting yourself familiarized with handling one before doing another. It's a matter of analyzing the market which could take long or short depending on the amount of effort and understanding you have.

[michellee]

I prefer to use single pairs if the other coins do not have good moves. But if the other coins have good moves, maybe I will consider using double pairs, but that will need you to focus more on watching the price moves, which is not easy. If I use a single pair, I will not go with a large capital but split it into several parts so the other parts will be for a backup just in case the price drops.

Searching for the other pairs will tempt you to raise more profit but trust me, that will be difficult as you do not have much time doing a fast analysis for the other coins and if you miss something, you will not getting a profit. But that will be up to you

[Oshosondy]

I don't believe coins move in the same direction as you advice op above and even if coins move in the same direction which bis unlikely the percentage increase in one coins is quite different from the other coins. OP, I don't think you really need anyone advice because you know what to do. Am sure no one advice you as at the you started single per trading and you are doing well.

If you trade with good coins, you should have known that good coins move in the same direction, though the percentage rise may not be the same, how can it even be the same, it is not possible. But about this, if you are a good trader, you will understand how just only one coin is enough to open a position. If someone knows that he wants to go for multiple coins, I will advice the person to be a swing trader or the person should just hold when the market is dumped already, but for just day trading and scalping, single coin is better while also not dealing with shit coins, because shit coins can be a way to lose.

[so98nn]

More the versatile portfolio lower is the risk of loosing all at once! In trading be cautious as to not put all in one place. Because at that time you will have only one door to exit from and you may not save your asset within the room because the whole room will be going down all at once.

It's logical that if you put your investment in more than two pairs (not just two), you create more options and virtual backups for your trade. Meaning, if one trade fails and if you loose money then you can at least try to "Break even" your trade from the rest portfolio making it way easier to make a come back.

[MrcMrc]

Since you start trading not long, I will advise you to keep trading in the single pair to avoid complications and getting overwhelmed by the market activities of several coins in your portfolio. It is easier for newbies to make a profit trading just one coin, I will suggest you study the market price movement of a single coin once you master it you can now trade with big capital to maximize big profits rather than getting involved in double pair and losing your capital at the end.

[Alisha-k]

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?

Trading a single pair would help you reduce risk. Buy with more capital you can trade a second pair but be careful you don't stress out the account more than it can accommodate. The more pairs you trade the higher the profit and in same manner the higher the loss. I would prefer you take your time to experiment on it with good analysis but ensure you use tighter stop loss now you are about test running this

[CryptocurencyKing]

I will advice you to go for single pair first,I noticed the coins prices go in the same direction which will make the result to also likely similar, but having too much coins can be somehow, why not just study one coin very well like bitcoin and use it to trade. I only prefer just one coin because I noticed they all move together in one direction, I mean all the coins, I will advice you to go for only single coin pair.

Good point.  A single pair trading, maybe with a good amount is one thing but then, should you have the intention of doubling it, its not exactly a bad thing. As maybe you opened your first position with a small amount just to test your analysis, you could actually open a second position to ensure higher benefits from the same trade.
Having several pairs is likely the same thing but, it is risky when it comes to changes that might occur suddenly on a pair that could result ina fall or rise and one cannot be all two vigilant on all counts. Hence, it become of importance to be vigilant and should you feel that, your not just enough on it in handling it, you stick to the single pair. Plus, you might end up risking more capital than you would have wished to.

[Oshosondy]

I will advice you to go for single pair first,I noticed the coins prices go in the same direction which will make the result to also likely similar, but having too much coins can be somehow, why not just study one coin very well like bitcoin and use it to trade. I only prefer just one coin because I noticed they all move together in one direction, I mean all the coins, I will advice you to go for only single coin pair.

Making use of many coin pairs is almost giving me the result I have when using single coin pair, I have tried this before and I noticed no reason why I need to try multiple coin pairs which do not give me the convenience I want by not focusing on just only a single coin. For people that want to go for multiple coin pair, they can too, but before trading any coin, the candle stick TA has to be analysed for each and every coin before opening position.