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Questions and StoriesCategory: QuestionsIs It Okay to Be in Several Forex Trades at the Same Time?
Nolo asked 2 weeks ago

Is It Okay to Be in Several Forex Trades at the Same Time?

I suppose if the trade setups are strong enough, it’s okay – or does it place your account at a bigger risk?

John0608 replied 2 weeks ago

It depends on the account size . For a big account it’s nothing wrong to have multiple trades .

8 Answers
Best Answer
LuckScout Staff answered 2 weeks ago

Good question…
You shouldn’t do it. All currency pairs are somehow correlated. When there are several trade setups with different currency pairs at the same time, you should only take one of them that looks stronger and is with the currency pair that is more liquid than others.
If you take all of them, you will take too much risk because they can go against you at the same time.

GODWIN replied 2 weeks ago

Is not good to trade without caution

oluwole sobayo replied 2 weeks ago

I love the way you answer the question and i quite agree with you.
But please out of EUR/USD and USD/CHF that is correlated. which of these is more liquid than the other? how can one know the correlated pairs and the one that is more liquid pair to trade in them

Edward Duffy replied 2 weeks ago

That is a very good question Oluwole. One that I have received an answer to in my years of trying to trade.

Vicaris answered 2 weeks ago

You must use proper risk management for each position you enter and once that’s done then you can enter the trades with 100% trade set-up.

Edward Duffy answered 2 weeks ago

Yes risk management is paramount.

Birembero4 answered 2 weeks ago

Its not okay to be in several trades of different currencies since you will double your risk in case the market goes against you,try to go back to articles of currency correlation and Forex risk management

Nolo replied 2 weeks ago

Yes, It’s better to play safe.

Male answered 1 week ago

Yes, It depend on what the Forex brokers offered you.

Male answered 1 week ago

Yes, It depend on what the Forex brokers offered you.

gwhite2203 answered 4 days ago

Of course it is, just have small positions and a massive account. Usually helps to trade non correlated pairs otherwise you are simply taking the same trade twice.

jeankomaro answered 4 days ago

If you see a strong trade set up and goo confirmation its OK but you also think about money management depending of your account size.

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