When I first entered the world of trading, I thought that all currencies were only bought with dollars. I didn't know that there was something called trading pairs, nor did I understand the difference between BTC/USDT and ETH/BTC, for example. After some time of learning and experimenting, I began to understand that choosing the right trading pair has a significant impact on the trade. Sometimes the currency itself is good, but the pair you're trading in may not have enough liquidity or may behave oddly.
One of the things I learned is that some pairs are more stable and easier to predict their movement, such as pairs against USDT, because they are tied to the dollar and their price is clear. On the other hand, pairs against currencies like BTC or ETH have more complex movement because you're tracking two currencies at the same time, not just one.
I always started asking myself before any trade: What pair gives me the best price and execution? Do I need to convert my profits back to dollars or invest them in another asset? Many times I use pairs against BNB or BTC because I don't want to go back to cash, I just want to swap between projects. I came to understand that the choice of pair depends on my goal for the trade and the overall market condition.
Choosing the pair has become part of my decision; I no longer trade just because I see a currency rising, I need to see with which currency I will trade it, and how this pair has moved over the past few days. I learned to monitor the volume, liquidity, and spread before I open the trade. And this is a big difference from the old days when I would just press buy and that was it.