permanentjaun

Anyone only trade one currency?

I'll admit that I'm getting burnt out trying to find my own strategy. I look at charts all day. I find a strategy that I feel works and then I look at a different time frame to look for confirmation and everything I worked on is thrown out the window.

I feel like a lot of my frustration is coming from the inability to scan currencies. A program such as microcaptrade is not available for forex. This is in part because volume is immeasurable in forex. I still don't understand why pip movement couldn't be scanned for. Maybe I'm just being lazy, but I find scanning even just the 15 currencies I've favorited for entry exits to be very consuming. Pivot points, fibs, support/resistance, 5 different types of MA's, proprietary indicators, etc. It all adds up. I've come up with at least 10 different KISS methods.

Then, even using the same strategy on different currencies just doesn't seem so great. I don't know why I don't feel like I had these problems with stocks.

I'm trying to use the KISS method. So now I'm considering looking at just one currency. Since I can easily be long/short I imagine I could always have a position in it. Am I digging myself into a hole thinking like this?

My thinking is that currencies are always moving. Stocks can go into periods of inactivity as volume leaves them. Currencies, especially the majors, always have volume. There may be sideways movement in a day, but week by week it seems that they will move at least 100 pips. If you count the total up/down and add them it could possibly reach 500 pips. There seems to always be money to be made/lost.

I'm posting this for one, to get some frustrations out, and two to ask the opinions and advice of others. Have others tried trading just one currency? What troubles can I expect to experience when doing so? Are those troubles any different from trading multiple currencies? Am I only shooting myself in the foot by trading just one currency?

All opinions welcome.

Burnt out in the October heat. Matt