How Many Markets Should a New Trader Focus On?

Yeah good question, when new to trading it is easy to be overwhelmed with how many markets are available. What I suggest to new traders is to only focus on a few markets ( 2 to 3 markets ) and then over time consider looking at more.

In the video below I go over my thoughts and suggestions on this topic, how many markets I suggest new traders to start with and what type of markets such as local currency ( markets that you are more familiar with in preference ) and how when ready to consider to expand into more markets.

As for myself, I keep an eye on just over 30 markets and when a market tests an important area and provides a valid setup in the market (such as what I teach in The Engulfing Trader and The Candlestick Training Series) then I will consider an opportunity. Of course, this does not mean that I am trading all setups when multiple setups present themselves on different markets, I look at multiple aspects such as what type of evidence, what is the risk in relation to reward potential, as well as limiting exposure on open positions before management phase.

Above Video – In the above video and I answer the question and give my suggestions on How Many Markets Should a New Trader Focus On

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

For more on Timon Weller Click Here. To Learn more about How to Trade the Market and get updates Click Here.

Speak Your Mind