How many trades should I have simultaneously open?

[AayushiShah]

Most beginners or inexperienced traders mainly focus on one thread because it is very risky to open a second thread and keep the focus on both threads. In addition, there is a slight chance of missing out on the changes in the charts. But if you have experience in trading or are in trading for a long time, you can manage two threads simultaneously and increase profit from it.

 

[grahammiranda13]

Depends but as a rule on for Forex I keep maximum 5 and Crypto 3

 

[mlawson71]

Threads? Do you mean trades?
But yes, I agree, overseeing more than one trade is difficult, especially for inexperienced newbies.

 

[AayushiShah]

Threads? Do you mean trades?
But yes, I agree, overseeing more than one trade is difficult, especially for inexperienced newbies.

Yes, I meant trades and thanks for pinpointing it.

 

[megaquest]

How many trades should I have simultaneously open?

you should only risk 3-5% of your total account

 

[antwanmcdonough]

I would suggest you not to open more than one pair at a time, unless and until you are a prodigy. Focus only on the movement of one pair and keep a track of the news, make plans accordingly and mark your exit at the perfect moment.

 

[Talisman]

If you can multitask and read the charts and data simultaneously then you can go for two or three trade pairs. But too many trades may also be detrimental. Also you need to be careful of how much of your account you are risking at a time.

 

[Reticular]

If you are a beginner trader, stick to one currency pair at a time, so you allow yourself the chance of rectifying any mistakes that occur. Then switch to multiple trades once you build confidence and are sure you will profit from them.

 

[JT1]

focus mainly on one pair but you can have a few open just look at the charts so you dont miss anything going on,on the charts

Yes I find that to work best. Master one pair. reduce the noise.

 

[Magnificent]

There is no thumb rule for that. You can open as many as you like to. However, it is advisable to not open trades more than you can control. The market is infamous for its volatility. Do not end up losing all your capital for the sake of gaining a few profits.

 

[Diagraph]

Well it depends on how well you can manage them. Moreover, if you don’t have a proper risk management strategy then there is a risk of failure. As a beginner I would just focus on making one trade profitable.

 

[Wordplay]

IMO you should only open a maximum of two trades at a time if you are a pro. More than that can open your door to losses. It’s risky to work on more trades simultaneously.

 

[pumlley]

If you’re a beginner, open one trade at a time. Professional traders trade simultaneously on four or more trades sometimes.

 

[Ry@n]

If you are a beginner, it is better to stick with one trade at a time to gain enough experience and consistent profits, but most traders have multiple trades open to keep track.

 

[Allegator]

If you are a beginner you should open only one trade at a time, and focus on that single one. When you have gained some experience after several months of trading, you can open at least two pairs at a time simultaneously. If you are an experienced trader, well then, our judgements and opinions shouldn’t matter. Whatever you feel like is the best, as per your confidence and knowledge, you should trade accordingly.

 

[Chatterbox]

If you’re just starting out, I think you should focus on one or two pairs only, it makes it easier to keep an eye and manage both efficiently. If you open too many too soon, it will increase stress and you won’t be able to handle it all, leading you to loss.

 

[Genetrix]

It's best to focus on a few rather than a lot. But you can trade as many as you are able to watch. Though it’s best to focus on a few rather than a lot. If you have too many trades you may want to set a price you want them to close to, in this way you don’t need to keep watching them. But bear in mind some pay ends up higher or lower than the prices you set, whether you are short-selling or going long. So you could be losing out on potential profits. Follow the one percent rule. Risk 1% of your entire capital in each trade you open.

 

[Mucivorous]

If you’re a beginner, I suggest you start at one trade and then expand as you get a better understanding of the market terms and conditions. There is no hurry. Also, do not risk more than 2% per trade. It helps control your money and risk.

 

[Daantje Pieters]

Stop loss is an obligatory thing to set because it guards a trader against losses. But it’s really upsetting that traders hardly set stop losses in their trading. As a result, they can’t protect their trades from sudden losses. So, make it a practice of using stop losses.

 

[Factualism]

If you're a beginner, start with one to learn more about live trading, and then after mastering the currency pair you can switch to another pair. Newbies should always start trading with one of the major currency pairs as they offer high liquidity and are less volatile.