In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.
What is your opinion about this?
You are wise to have realised this early my brother, many people are just deceiving themselves trying to trade many pairs. I was like them before, on my trading chart then, you can see about 15-20 chart windows of different market pairs that could be Stock, index, crude oil, Gold, FX and many more, but to what gain? If not for complication and confusion.
Is it not the money we are looking for? If we know how to handle a single pair very well and take all the necessary risks and management that would have been spread on multiple pairs, it might yield better for us. It is even better because we would be able to understand the psychology of that particular market better than the many we are trying to trade. Now, I've narrowed my trading down to Gold and Bitcoin only, and I tell you, I am uncomparably better in profits than when I was stressing myself with multiple markets.