one strategy is better than using a lot of strategy

[Daisy]

I have many strategies and I see a need for it in forex. In forex the market changes all the time so to say that you only use one strategy is simply not enough. We need to use more than one strategy if we want to make money. I mean there is short term, long term, scalping and such so for those three we would need three different strategies already. I have many and I use them all. A good trader uses all that he knows to make profit and not just go singular at it.

 

[willy]

i agree with you but some time we need plan b to use it depending on the condition of the market because some time the market move with the side way and our strategy is working just with the strong trend like broken trend strategy then it is better that we have another strategy for the side way trend

 

[Decub]

Too many strategies might most likely confuse the trader the more. It doesn't make any sense that a trader is using multiple strategies when he can make do with one which will still give him almost the same thing that multiple strategy will. Instead of confusing yourself the more, try and make that single one formidable.

 

[kasual]

Its true that one proven good strategy better than traders trade with many strategies. Though market changes in situations, doesn’t mean that traders should use different strategies. As long as traders patient and waiting good entry setup appear, less chance to traders end up with loss result.

 

[sindarin]

Somehow i agree with thread starter, one strategy is better rather than more than one, i said this because all of the confusion if using more than one strategy, the problem is how to use the strategy effectively.

 

[kasual]

One good trading strategy enough to lead traders to become profitable. As long as strategy has been tested and proven reliable. Use many strategies would make traders confuse and even end up with over analysis. Than end up with good result, traders can end up with high capital reduction.

 

[gkintl]

I have many strategies and I see a need for it in forex. In forex the market changes all the time so to say that you only use one strategy is simply not enough. We need to use more than one strategy if we want to make money. I mean there is short term, long term, scalping and such so for those three we would need three different strategies already. I have many and I use them all. A good trader uses all that he knows to make profit and not just go singular at it.

The issue with multiple strategy is that it may result in confusion. Every time we enter into a trade, apart from finding proper entry and exit, we should also think of which strategy to use and pros and cons related to it. It is always better to trade with a single strategy so that we will have clearly laid down rules and regulations in hand. This would avoid confusions. In case there is a need to fine tune the strategy it can be done quite easily as well. Such advantages do not exist when we use multiple strategies.

 

[Decub]

When there is need for a trader to apply another trading strategy, then he can possibly modify the strategy that he has been using rather than having multiple strategies at a time. It will only lead to series of confusion and not knowing the one to use at any point in time. Sometimes, it can even lead a trader to lack of concentration.

 

[Pettyeve]

It is true. When the trader is able to know how to make use of one strategy that is good, he or she will master that one strategy. Mastering that one strategy will make him or her to know how to be able to use it very well. Many strategies can confuse a trader.

 

[Irina]

An advanced capability if traders master the specific trading system, and in the sense that traders understand so to at this stage of convinced of the trading system, and it is usually better to only one maximum in order to better thinking

 

[lioneld]

Maybe yes or not! But, I am using here different trading strategies based on my trading strategies! Such as, I am using different strategy for scalping, swing trading and positional trading as well! I made my strategies in my demo account.

 

[Tom Latham]

Even, I have seen many traders are trading without any trading strategy. So it depends on your trading personality! By the way, in my live trading, I am following only PA trading strategy; it works on all kind of trading instruments!

 

[Svetlana Loboda]

Well, I don’t know others strategy! But for, I use 3 different trading strategies for using EURUSD, GBPJPY and CADJPY! I don’t know, how traders use the same strategy for several trading pairs! Right now, I am working with another strategy for GBPJPY.

 

[lioneld]

Well, I don’t know others strategy! But for, I use 3 different trading strategies for using EURUSD, GBPJPY and CADJPY! I don’t know, how traders use the same strategy for several trading pairs! Right now, I am working with another strategy for GBPJPY.

That’s really great! By the way, may I know the 3 names please?

 

[Oscar Shumack]

Yes. One perfect strategy is better than using may strategies.

 

[David Marco]

if you think that your strategy will work, you can stick with your strategy.

 

[Kazumu Fukunaga]

To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.

 

[Lailsa]

I guess it depends on the particular situation on the market, however I think that it's better to have only one strategy, but this strategy will work on hundred percent actually. Of course, you should have some strategies which you can use in case your primary strategy doesn't work, nevertheless everything is quite individual. I believe that novices would better create only one strategy and use onli it in order not to confuse themselves. After they learn how to trade properly, feel the market, they can think about creating one more strategy but it should differ a lot, because it probably affords them to find something new about trading activity out.

 

[Mark Dahl]

True. Traders don’t need multiple strategies to earn money.

 

[Kevin Vogt]

For consistent profit, a trader needs a good strategy of his own and a mind set. A mind that can adjust with the changing market. A mind that can stay away from trading, if market is not giving good set up.