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Reply To: Could I invest in multiple currencies at once?

Reply To: Could I invest in multiple currencies at once?

#964
A.walker
Participant

Gents,

The answer is yes, but you should be aware of a few things. The first thing to consider is that you should never risk more than 2% of your account on any single trade. This is the most important rule of trading any asset. And with Forex, it is difficult becuase of the margin.

You must pay attention to which pairs you are trading. Different pairs correct positively to each other, and some pairs correct negatively to each other. Meaning different pairs that trade in the same direction.
https://www.myfxbook.com/en/forex-market/correlation
So the link above will provide you with a table of currencies that are trending in the same direction.
This is important becuase if you put on a bunch of trades that are trending in the same direction, you could end up losing a lot of money very quickly, as they could all drop at once.

Good Luck

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