One strategy cannot be useful in all market conditions

[sindarin]

Having so many strategies is just the best. though it is advisable for one to choose that which works best for him, we find out that sometimes, the nature of trade turns around and that which we might have been using seems not to work.

i don't recommen also to have many strategies just up to 5 at most, it will be also to make you quite confuse, and for me it is better to analyze the market first before using some strategies that we want to use.

 

[Master Forex IB]

Yes you are right only one strategy is not enough to get profitable results from forex trading .This market is changing all the time .We do not find same movement daily . Our stratey should be flexible so that it can meet different market conditions.

 

[anosocialnet]

Though, it is good and better to use or apply many or different strategy while trading on forex. Because as the market is not stable so as we need to be changing our strategy but at time there are one single strategy that suit one particular market.

 

[barood4money]

Though, it is good and better to use or apply many or different strategy while trading on forex. Because as the market is not stable so as we need to be changing our strategy but at time there are one single strategy that suit one particular market.

Yes, that is right. We cannot use one strategy all the time. We have to use it as per the market situations. And that will help to earn more profits and minimize the chance of loss.

 

[Daisy]

Yes, it has to be varied since the market is all different all the time so we change according to that. When the market change we also change. We need different strategies for different games and different market trends and different pairs. Yes, it should be according to the current market conditions or our goals for trading. Something will always hold true though like loss and money management and also current news will affect us.

 

[Bonyi]

It is true that you don't use the same for different market conditions. Each market condition requires a strategy which may not be the same for other market conditions. That is where knowledge comes in. With knowledge, you know what to do at different point.

 

[haneefzain]

To get success every time trader have to make new strategy according to the condition of the market trader must come with new strategy in every new day..

 

[riddick09]

Because, we do have different purpose or function of the strategies. There are those for long term while others are short term strategies. However, they have share common of the usage of the indicators that can be used in any term plan.

 

[Bonyi]

Though I am an advocate of choose that strategy which works for you There are still times when you really have to diversify, become multi talented if you must move with Forex since it is dynamic.

Yes I agree with you. There are times when you have to diversify your strategy so that you'll be able to meet up with the demand at the time especially when it is what you need to do to be profitable.

 

[Daisy]

It is true that you don't use the same for different market conditions. Each market condition requires a strategy which may not be the same for other market conditions. That is where knowledge comes in. With knowledge, you know what to do at different point.

I think every strategy is good only for certain pairs, certain market opening and certain market conditions and timing so it might not work for another market or trades or pairs. Of course, there are long and short strategies so we have to then use them accordingly and then change them if needed. We need a good strategy for each market condition.

 

[gkintl]

It is always better to stick to one tested strategy. The strategy should clearly define entry, stop loss, target and exit price in case of a sudden reversal. If so, there is absolutely no need to have several strategies which would only add to confusion. Several strategies would assist only those who are specialists in writing genetic algorithms where the program will select the best one every time. Not all have the knowledge to do so. For those who trade manually, a single strategy is very much enough.

 

[Bonyi]

Yes one strategy cannot be used in the different market situation. You would have to analyze the market and find out what strategy best suits the trade you're dealing with at that time.

 

[gkintl]

I wish to disagree with your opinion that a trader needs to have multiple strategies to succeed in trading. A well planned strategy would enable a trader to make consistent returns while protecting his capital from unexpected volatility. Having multiple strategies will only cause confusion. An EA based on genetic algorithm can trade the market successfully with multiple strategies. However, a human being cannot as response time will not be adequate for us to make a proper decision.

 

[kaiceaziz]

I wish to disagree with your opinion that a trader needs to have multiple strategies to succeed in trading. A well planned strategy would enable a trader to make consistent returns while protecting his capital from unexpected volatility. Having multiple strategies will only cause confusion. An EA based on genetic algorithm can trade the market successfully with multiple strategies. However, a human being cannot as response time will not be adequate for us to make a proper decision.

Let me say i wont agree with you in a point that we musnt lay all of our eggs in only one basket. We have to try more than one strategy to know what is the best to choose from. When we try between a set of many strategies then we can use the best we think suits our trading mind. Then we can stick with that strategy and trade. If we feel we that strategy starts to make losses, we replace it easily.

 

[Daisy]

I have many strategies and they work for me on most days as most days are different and most trades are different so we need to adapt to the market of course. I think having the ability and flexibility to adapt to the fast changing market will help you gain an edge in trading as well. I mean on bad days, I scalp and on good weeks, I do long term. On bad news week, I avoid the market. On good weeks, I open more scalps or more trades. I do things differently all the time and it helps. My long term won't work on a bad news day or week. My short term won't work on a slow day.

 

[Pettyeve]

Getting a thousand and one strategy, I do not disagree on but forex can be very confusing when we try out some strategies that do not match the market at that time. That is where it becomes very wrong to have them if you can't manage them. If you have one that is good, then stay with it and maintain it.

 

[budado]

I guess I can handle my account in here without any problem even if I only have one strategy. But right now I do have two strategy. I do hedging and averaging. I do hope I can eventually make good profit without any problem in forex trading.

 

[riddick09]

Yes, I think everyone is capable of learning their strategy and that one can be enough to gain profits. And it's our choice to have one or complicated strategy because, we are the one who will do analysis and we think it will be comfortable or better for our trading.

 

[hadg33]

The way I understand forex,I don't really think many strategies are really needed. If one can have a good working strategy,then I don't see any reason why it won't work in most markets,markets are volatile but the truth is this single strategy might work at most times.

 

[Decub]

The market is truly volatile, highly dynamic as well and one could say that unless you flow with it, you just might be left behind. I am an advocate of; make a reliable strategy, however, do not only depend on only one since you can have different market changes.