💭 How to choose the right currency pairs for your trading style?
💡 Choosing the right pair is the first step to successful trading. Not all pairs are suitable for every trader!
1. Define your style:
Are you a day trader, scalper, or looking for swing trades? Volatile pairs like BTC/ETH and SOL/USDT are suitable for scalping, while stable pairs like BNB/USDT are better for swing trading.
2. Monitor liquidity:
Choose pairs with high trading volume to avoid slippage. You can check this on the market page on Binance.
3. Understand the pair's behavior:
Each pair has its own character; some are fast, while others move sideways. Monitor its history on the chart to understand it before trading.
4. Pay attention to time differences:
Some pairs are more active during specific sessions (like dollar-linked currencies during the US market opening).
5. Try in a demo account or with a small size first:
Before relying on a new pair, test it with your own style.
🎁 Expert tip:
Fewer pairs mean higher focus and more accurate results. Don't scatter yourself with 20 pairs!
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🎁 Next lesson:
Should you trade the news? When and how to leverage events to your advantage?
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