Trade multiple trading pairs or only a few trading pairs?

[beerlover]

For someone trading conservatively, focusing on a few trading pairs is much better, especially high with high marketcap coins couples with higher time frames is the bomb. The only disadvantage is maybe lower PnL over a long period of time but the risk of losing a trade is way so low.

People opt for so many trading pairs because they feel they might at one time land on a gem that can easily go x10 in a few days. Of course this happens at times but not always. To answer the question, I think it just depends on one's strategy

The frequency of that not happening is so high that there is no reason for people to think that it would be a good idea. They think that they can make x10, but the amount of people who lost more money trying to make x10 is a lot more than people who actually made 10x, which is why I think it should not be all that easy to keep that going.

We should be thinking that maybe we are going to end up with something that will not be all that simple, so we should probably consider that making something that crazy would be near impossible. I personally do not chase those, I try to make very little but quite often, that way I get to be right most of the time, takes very short span as well and the results are nice too.

Best way to go right now would be just focusing on how we could get greater results, it should not be really that complicated and we could make some returns on the subject as well, realizing that things aren't going to be same as it used to be. If we keep on trying to make huge returns, what we are going to be left with will be just a small amount, and we can't really get to a level where it will be just an ordinary situation, it is not going to be a simple situation neither, not at all.

[lixer]

What is your opinion about this?

Like trying to catch too many things at a time or focusing on too many things at the time can make it difficult to catch one so also does trading so many pairs makes it difficult to understand anyone in particular when you are a new trader. The traders who trade many trading pairs, did not always start off trading like that, some of them focused on one or two trading pairs for a very long time before trying out others. If you are planning as a trader to trade multiple pairs you have to start somewhere and that starting somewhere means you have to start from trading one pair first before adding other pairs to trade.

Everyone has their own ideas about trading and their own strategies. I don't think if you are new to the market, you should bet on more coins or just bet more on one coin. You should invest little by little in different coins maybe one of them will turn into profit and the best thing is that when someone is new in the market he should first understand the market when he enters the market. He should understand and know about coins, which is good, which is bad, which is going to profit, and which is going to lose. Only after that, he will trade, and then he will be a successful trader.

Besides, if without knowledge he invests money in a single coin or invests money in thousands of coins, it will be a loss, because trading is not done based on luck. It is very important to understand the market and trade at the right time. Any person who thinks that he can make a lot of profit just by trading is just a misconception and nothing.

Yes, it can be said that if you are an expert in a coin, you have followed its movements, and you have analysed its candles well, then you should invest money in that coin that you know well.

[Mahanton]

What is your opinion about this?

Like trying to catch too many things at a time or focusing on too many things at the time can make it difficult to catch one so also does trading so many pairs makes it difficult to understand anyone in particular when you are a new trader. The traders who trade many trading pairs, did not always start off trading like that, some of them focused on one or two trading pairs for a very long time before trying out others. If you are planning as a trader to trade multiple pairs you have to start somewhere and that starting somewhere means you have to start from trading one pair first before adding other pairs to trade.

Everyone has their own ideas about trading and their own strategies. I don't think if you are new to the market, you should bet on more coins or just bet more on one coin. You should invest little by little in different coins maybe one of them will turn into profit and the best thing is that when someone is new in the market he should first understand the market when he enters the market. He should understand and know about coins, which is good, which is bad, which is going to profit, and which is going to lose. Only after that, he will trade, and then he will be a successful trader.

Besides, if without knowledge he invests money in a single coin or invests money in thousands of coins, it will be a loss, because trading is not done based on luck. It is very important to understand the market and trade at the right time. Any person who thinks that he can make a lot of profit just by trading is just a misconception and nothing.

Yes, it can be said that if you are an expert in a coin, you have followed its movements, and you have analysed its candles well, then you should invest money in that coin that you know well.

And this is something that you would really be able to mold along the way on which you would really be finding out for yourself on which one would really be fitting out into your style or simply with your preference. Its not bad to see up on others actions or ideas too but still it would really be that best on which you do seem that fits you out and never ever force yourself on doing something which not recommended or suited for someone whose really just that starting. Seeing on the question whether single or multiple pairs, then it would really be that understandable on which one is easier on which having that less pair would be recommended specially if you are still a noob because you arent that still good on making up trades on which monitoring and exerting effort would really be needing up with this kind of approach into your investment or trades.

You cant really just that trying to cope up all potential pairs on which you do look interested into and since you are still new or noob then you would be having that kind of headache on how you would manage all of those positions. You would be able to find for yourself on which one will really be fitting out into your preference because it will really be that understandable that due to lack of knowledge and skills then you will really be
that trying out to adjust on which one will really be that fit out.

[GreatArkansas]

For someone trading conservatively, focusing on a few trading pairs is much better, especially high with high marketcap coins couples with higher time frames is the bomb. The only disadvantage is maybe lower PnL over a long period of time but the risk of losing a trade is way so low.

People opt for so many trading pairs because they feel they might at one time land on a gem that can easily go x10 in a few days. Of course this happens at times but not always. To answer the question, I think it just depends on one's strategy

The frequency of that not happening is so high that there is no reason for people to think that it would be a good idea. They think that they can make x10, but the amount of people who lost more money trying to make x10 is a lot more than people who actually made 10x, which is why I think it should not be all that easy to keep that going.
(...)

Can't blame OP, every trader has some specialty or technique, for example, some based on trading volume, some on the moving average of prices, and some based on the candlesticks' patterns or momentum.

I am agree with OP also trying other trading pairs so he/she will know how trading really works, like trading other pairs with low trading volume versus high trading volume.

[EarnOnVictor]

In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?

All altcoins are almost the same therefore if you can master two altcoins, you can also be able of trading other altcoins. They all move in response to Bitcoin and other news that affects them either to make them pump or dump. If there are chances to make profit from another altcoins don't ignore that chance only as you want to monitor your two chosen altcoins or you'll be missing chances to make money. I don't have altcoins I kept for only monitoring them and not all tokens but I change the tokens I trade as the market changes. When there's a hype on this particular types of tokens, I'll start trading them and I make profits.

You are making a common mistake, you do not use one market to judge another, and no matter how you believe they correlate, they are still not perfectly moving alike and that simple difference could cost you a lot. I also noticed that most times altcoins follow the pattern of Bitcoin, but this can only be risked with an investment plan and not a trading plan. Trading is too sensitive for any price change and any risk taken with the margin products is not going to be nice on the account balance of the trader if it goes south.

My advice is that if it's just two pairs you want to trade, make sure you treat them independently on different charts and also use both the technical and fundamental analyses you can gather to ascertain what they will do. By doing this, you would realise that there are times you would place a bet on pair A and the confirmation of pair B will not be ready yet. The same thing goes for the exiting as well, we do not trade on assumption.

[LogitechMouse]

~
What is your opinion about this?

Trading 2 pairs would be better for me rather than focusing on many trading pairs. Trading with 2 pairs as long as you're making money on it would always be better than trading with so many pairs but making way lesser than that of the first one.

Add also the fact that it will be more stressful for some traders to monitor charts of many coins. I also tried trading that's why I know that monitoring many charts of different coins is stressful than just focusing on 1 to 2 trading pairs. In general, I still believe that there are some expert traders out there who don't want to focus more on 2 trading pairs, but they want to focus on more trading pairs because they believe that they can get more profit when they trade that way. Well, as long as they aren't stressed with it, and they are making way more profit then it's good.

Experience matters on this one. If you're a trader for many years already then you can opt to trade with multiple pairs and still make profit.

[tygeade]

We should be thinking that maybe we are going to end up with something that will not be all that simple, so we should probably consider that making something that crazy would be near impossible. I personally do not chase those, I try to make very little but quite often, that way I get to be right most of the time, takes very short span as well and the results are nice too.

Best way to go right now would be just focusing on how we could get greater results, it should not be really that complicated and we could make some returns on the subject as well, realizing that things aren't going to be same as it used to be. If we keep on trying to make huge returns, what we are going to be left with will be just a small amount, and we can't really get to a level where it will be just an ordinary situation, it is not going to be a simple situation neither, not at all.

This is why "not comparing bitcoin to stock market" is a mistake. Look at all these huge companies, look at blackrock, look at jp morgan, or basically look at any possible way of making money in the stock market, look at the market average and all that too. You will see that, holding bitcoin long term has always beaten that, easily. That should definitely be something to care about, because it would be something that will take a while but could be something that will benefit everyone as well.

I believe that if we could end up with something that will take a while, it is not going to end up with any issues at all, it is going to cause a little bit of trouble, and we need to be better at it if given the chance. I know that it is not going to be that simple, but if we could cause some betterment of our profits, then we are going to be fine. Bitcoin holding is fine, it looks small compared to ideas of 10x, but bitcoin holding makes more than what people can make with anything else, so it should not be considered small at all. When you compare bitcoin to some blue chip stock, you will see it's awesome, but if you compare it to some crazy alt that is once in a million, then yeah you will feel it's small.

[Lakai01]

We should be thinking that maybe we are going to end up with something that will not be all that simple, so we should probably consider that making something that crazy would be near impossible. I personally do not chase those, I try to make very little but quite often, that way I get to be right most of the time, takes very short span as well and the results are nice too.

Best way to go right now would be just focusing on how we could get greater results, it should not be really that complicated and we could make some returns on the subject as well, realizing that things aren't going to be same as it used to be. If we keep on trying to make huge returns, what we are going to be left with will be just a small amount, and we can't really get to a level where it will be just an ordinary situation, it is not going to be a simple situation neither, not at all.

This is why "not comparing bitcoin to stock market" is a mistake. Look at all these huge companies, look at blackrock, look at jp morgan, or basically look at any possible way of making money in the stock market, look at the market average and all that too. You will see that, holding bitcoin long term has always beaten that, easily. That should definitely be something to care about, because it would be something that will take a while but could be something that will benefit everyone as well.

Although you are of course absolutely right about the past, I honestly wouldn't rely on this continuing to be the case in the future. Bitcoin's market penetration is now very different to what it was in 2012, for example, and you can see this first and foremost in the market cap.

While it is certainly possible that Bitcoin will now achieve another x10, there is no guarantee that BTC will continue to outperform other major players on the stock market, especially when compared with “smaller” positions such as Nvidia.

[Silberman]

Although you are of course absolutely right about the past, I honestly wouldn't rely on this continuing to be the case in the future. Bitcoin's market penetration is now very different to what it was in 2012, for example, and you can see this first and foremost in the market cap.

While it is certainly possible that Bitcoin will now achieve another x10, there is no guarantee that BTC will continue to outperform other major players on the stock market, especially when compared with “smaller” positions such as Nvidia.

Without a doubt as the market cap of bitcoin increases, it reduces the percentage gain that we may obtain with our investment, and the day may come in which bitcoin may only grow a 10% during a bull run, however this should make it even clearer that it is important to get as much bitcoin as we possibly can before that day comes, since in that way the benefits of such a growth will still be huge for us if add those profits on top of the profits we already got.

[Webetcoins]

Few pairs would really better since we can manage our trades which is always advisable to do. Some think about that having a lot of trade pairs is better since they possibly could earn a lot more money from doing it.

But they forgot to realize that its hard to manage such condition and might not paying attention on his other asset might result to do those bad decisions that they don't really want to happen. People should not became more greedy on gaining profits since they should consider first on how they can handle well their trades. If they mismanage it for sure that everything will fall apart and with that they could lose all their money on wrong judgement they made.

This is true, if you focus on a few ones, then you are going to get more detailed look at each of them and the result should be fine. I am not saying that you are going to end up with great returns at all times, but you could at least do some well and thought out process before you do anything.

I believe that we are going to end up with something that will take a while, but in the end we are doing very well and that's not a trouble at all. We should realize that it's going to take a while to learn how to trade, and even more time to focus on many many pairs if you look at them. You will miss some stuff and you can't act quickly about all that many pairs, and if you want to act quickly then you are going to make even more mistakes, there is no reason to do that.

I believe that we should be considering how to make as much money as we possibly could, by just focusing on few pairs. That way, we get to check all of them very carefully, and there is a lower chance that we could make a mistake about it. This of course depends on how we could trade, like are we a good trader or not, because if we are a bad trader who doesn't know any indicators and such, then it doesn't matter how many pairs at all.

[mirakal]

Focusing on one pair over multiple pairs will always result in differences. And most likely, focusing on one thing has more passive results than multiple trades. If we are to be smart, it is too obvious what strategy we are going to use.

Well, some traders can manage to handle multiple trading pairs, especially if they are full-time, but imagine doing this for a long time, I don't think it will be doing well and profitable. Perhaps stress is the common reason why many traders fail. I believe we can trade without such high pressure and stress. Why have a healthy trading practice rather than forcing ourselves to do more when it is impossible to do it better? 

[dunfida]

Few pairs would really better since we can manage our trades which is always advisable to do. Some think about that having a lot of trade pairs is better since they possibly could earn a lot more money from doing it.

But they forgot to realize that its hard to manage such condition and might not paying attention on his other asset might result to do those bad decisions that they don't really want to happen. People should not became more greedy on gaining profits since they should consider first on how they can handle well their trades. If they mismanage it for sure that everything will fall apart and with that they could lose all their money on wrong judgement they made.

This is true, if you focus on a few ones, then you are going to get more detailed look at each of them and the result should be fine. I am not saying that you are going to end up with great returns at all times, but you could at least do some well and thought out process before you do anything.

I believe that we are going to end up with something that will take a while, but in the end we are doing very well and that's not a trouble at all. We should realize that it's going to take a while to learn how to trade, and even more time to focus on many many pairs if you look at them. You will miss some stuff and you can't act quickly about all that many pairs, and if you want to act quickly then you are going to make even more mistakes, there is no reason to do that.

I believe that we should be considering how to make as much money as we possibly could, by just focusing on few pairs. That way, we get to check all of them very carefully, and there is a lower chance that we could make a mistake about it. This of course depends on how we could trade, like are we a good trader or not, because if we are a bad trader who doesn't know any indicators and such, then it doesn't matter how many pairs at all.

If you are just new or having that lack of knowledge and experience then it would really be just that common sense that you would really be needing up to focus on a single pair first before
you would really be considering out on focusing on 1 pair or two but it would be best if you are going for 1 pair first before you would be trying out to test another. You would be able to find out for yourself
if ever you would be trying out to have multiples then you will really be struggling. Just like on what others been saying on here that this wont really be something that easy. You would really be needing up to focus
on few first or single one and finding yourself that profitable then this is the moment that you would be considering other pairs at your own discretion.

The main thing that you would really be needing up is to have that capital for you to make use on which simply means that risks taking will really be considered on the moment that you would
really be doing up such step. Trading is never been that a simple thing and if you do find out that you've been challenged or stuggling but still be able to bare out with the risks involved
then you are really just that doing fine but if not then take a pause and see out on what are the things that makes it hard.