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I’ve been trying a new strategy of specializing in a particular country’s currencies against another.
What I like about specialization is that you get to learn more and know more about the assets that you’re specializing in.
You get to know the behavior, their characteristics, and how they operate in different market conditions, etc.
Here’s a screenshot below of one of my forward tests on a demo account in which I am specializing in a few currency pairs.
The result is quite impressive, I must say, however, this is just one day of trading, and I definitely need to do more tests before I can say if it’s a winner or loser.
Also when it comes to trading, particularly the forex markets, the bottom line goal for any trader is to generate profits, right?
And we know there’s a wide range of currency pairs you can trade-in.
But what if you could specialize in just a few currency pairs and become successful at trading them?
This way you’ll have more focus, and you can direct your time and energy on becoming an expert at trading them.
Having knowledge and experience of these types of things can potentially give you an edge in the markets compared to a trader, who just generalizes.
There are loads of cases and certain industries and professions, where specialists do tend to earn more and become masters at what they do.
And when you become the best at what you do, tremendous amounts of success come as a result.