Stop Trading Everything

Category: Trading Strategy 

A common mistake I see with new traders in my DMs is their "Watchlist." I ask them what they trade, and they send me a screenshot of 15 different currency pairs, three commodities, and Bitcoin.

They are trying to catch every move, but they end up catching nothing.

In trading, and specifically in scalping, you are not paid for how many charts you look at. You are paid for how well you know them. This year, I challenge you to simplify. In my business, She Trades Forex, I focus strictly on three specific instruments: Gold (XAUUSD), Nasdaq (NAS100), and NZDJPY.

Here is why I chose them, and why simplifying your watchlist is the fastest way to profitability.

1. Gold (XAUUSD): The Volatility King
Gold is my go-to for scalping. Why? Because it moves.

The Personality: Gold respects technical analysis beautifully, but it is aggressive. It creates clean "Support and Resistance" zones, but it will punish you if you don't use a Stop Loss.
Why I Scalp It: On a 5-minute chart, Gold provides multiple opportunities a day. It doesn't sit still. If you are a scalper, you need movement, and Gold delivers liquidity like no other.

2. Nasdaq (NAS100): The Speed Demon
While Gold is about fear and greed, Nasdaq is about the economy.

The Personality: NAS100 is fast. It loves the New York opening bell (15:30 SAST). It often trends hard in one direction for 30 minutes to an hour, which is perfect for a scalper looking to get in and get out.
The Correlation: It often moves inversely to the Dollar. When the DXY (Dollar Index) drops, Nasdaq often flies. Knowing this correlation gives you an "edge" that you don't get if you are randomly trading exotic pairs.

3. NZDJPY: The Silent Mover
This is my wildcard. While everyone is watching EURUSD, I watch NZDJPY.

The Personality: This pair is a "cross pair" (it doesn't involve the US Dollar directly). It often moves well during the Asian session and the crossover into London.
Why I Trade It: Sometimes the US Dollar is messy and choppy (due to news). NZDJPY gives me a way to trade the market without being exposed to USD news events. It diversifies my risk.

The "Dating" Analogy
Think of trading pairs like dating. If you go on dates with 20 different people, you never truly get to know any of them. You don't know their bad habits, their triggers, or how they react under pressure.

But if you commit to just 2 or 3, you learn their personality.

You learn that Gold likes to "fake out" before the real move.
You learn that Nasdaq often retraces at 10:00 AM NY time.
My Advice for This Week: Delete the noise. Remove the pairs you rarely trade from your watchlist. Pick 2 or 3 instruments that fit your time zone and personality, and master them.

Conclusion This year, stop trying to be a "Jack of all trades." Be a master of one (or three). Your mental energy is a limited resource—spend it where it pays the best dividends.

See you on the charts.

— Mellissa Stamboul | Forex Business Coach