Lydia Idem on the Importance of Specializing

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  • on July 27th, 2011

The more I traded, the harder it became to keep abreast of all the different countries’ economies, politics and geopolitical connections. Trading all the major pairs at that time meant that I had to keep track of events in the United States, Great Britain, Switzerland, Australia, New Zealand, Germany, Italy, France, Japan and Canada. Ten countries! The information flow became overwhelming. While I was watching one trade, I was missing 3 other trades and it would really frustrate me. That frustration led me to chase trade after trade and mount loss after loss. So I made the decision to follow another piece of advice from my mentor: “Choose your bread and butter pairs. Those pairs you get to know so you know how they move and why they move.”

Source: Chapter 33 – They Call Me Mrs Cable by Lydia Idem, @faithmight

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