The next question you should ask your trading coach is how many trades should you have open at a time.
Your coach will answer you based on your trading style and strategy. Just bear in mind that the average number of trades held simultaneously open by beginner trades is usually up to three. Professional traders, on the other hand, can hold a dozen of open trades to lower their market risk and take advantage of currency and intermarket correlations.
Naturally, the actual number depends on how many trading opportunities that exist in the market. But, it’s important to know that professionals won’t hesitate to pull the trigger once they identify an opportunity.