How many strategies do you employ in a single trading concept? | Forex Factory

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How many strategies do you employ in a single trading concept?

  • #1
  • First Post: Jul 9, 2019 12:03pm Jul 9, 2019 12:03pm
Hi,

like the title says, how many strategy do you trade, and trade profitably(and comfortably) in a single trading concept under a single trading account?

I understand that the market conditions vary, and so, do you change strategy based on market conditions or do you sit and wait until the market does what you want it to, again, before looking for trade setups?

Also, if you trade multiple strategy of a single concept in a single trading account, wouldn't that, so call, jumble up your trading result? Since you employ multiple strategies?
Hi bye mai hai
  • #2
  • Jul 9, 2019 12:29pm Jul 9, 2019 12:29pm
now i have two strategies. one for trend following using currency strength which is very good and another one is for trend reversal which is based on volume exhaustion and snr(pivots too). but having two strategies really mess up..i should stick with one but my mind mess it up more often
Still learning. Telegram @TraderJaya
divergence scalping All Time Return: -99.8%
  • #3
  • Jul 10, 2019 6:07am Jul 10, 2019 6:07am
Quoting vijiragavan
now i have two strategies. one for trend following using currency strength which is very good and another one is for trend reversal which is based on volume exhaustion and snr(pivots too). but having two strategies really mess up..i should stick with one but my mind mess it up more often
Hello vijiragavan,

How do you manage it? Do you screen the markets using on strategy first before doing it with the other strategy? And as well, if one were to do both strategy on a single trading account, wouldnt that make the results weird? I am assuming that you compound your winnings after every trade.

I am trying to be consistent in swing trading now, but sometimes the markets seem to breakout pretty well after being in a prolong range situation, but i tell myself to only trade the markets when its ranging in a channel or horizontal range. So, i am missing out on trades just because i am basing myself towards one market situation only.

If i were to employ two swing trading strategies but on a single account, would it be recommended?
Hi bye mai hai
  • #4
  • Jul 10, 2019 6:35am Jul 10, 2019 6:35am
As many as it takes..
If you want in on my experimental EA, PM me.
  • #5
  • Jul 10, 2019 6:52am Jul 10, 2019 6:52am
Quoting RegisMexes
As many as it takes..
Hello RegisMexes

You mean, if they are of the same concept, traded in a single trading account?
Hi bye mai hai
  • #6
  • Jul 11, 2019 10:14pm Jul 11, 2019 10:14pm
Just one - I trade the Tokyo open swing until 30 minutes before Frankfurt opens using some very specifically modified stochastics and EMA's - works a treat - also will if the pattern is right trade the GBP session but only after 10:30 chart time and only for 20-30 pip max -
A very experience trader once told me - build your trading around a repeatable predictable event - that's all I've done
The more I learn the more I don't know
  • #7
  • Jul 12, 2019 9:48am Jul 12, 2019 9:48am
Quoting DuckHunter
{quote} Hello vijiragavan, How do you manage it? Do you screen the markets using on strategy first before doing it with the other strategy? And as well, if one were to do both strategy on a single trading account, wouldnt that make the results weird? I am assuming that you compound your winnings after every trade. I am trying to be consistent in swing trading now, but sometimes the markets seem to breakout pretty well after being in a prolong range situation, but i tell myself to only trade the...
i watch both but i prefer trend following.. using trend reversal strategy i exit trades and also counter trade the trend. i think it's better to stick with one strategy..i dunno what suggestion to give. sometimes both of your strategy may give you confusion. one may suggest to take buy and another one may give sell.. so better stick with one and trade it.. it took me 4 years to be somewhat profitable.. still struggling with mm,overtrading and so on but my strategy survives me. if u follow many startegy they may confuse you..
Still learning. Telegram @TraderJaya
divergence scalping All Time Return: -99.8%
  • #8
  • Jul 12, 2019 2:26pm Jul 12, 2019 2:26pm
A lower time frame trend is a higher time frame range, so if you learn how to trade ranges, you can trade nearly any condition. Since a time frame is just a time frame, once you get good at it, you can effectively trade lower time frame ranges too, as they offer more frequency, thus more money. Up to you.
You cannot be extraordinary by being normal
  • #9
  • Jul 13, 2019 5:26am Jul 13, 2019 5:26am
Quoting Crooky
Just one - I trade the Tokyo open swing until 30 minutes before Frankfurt opens using some very specifically modified stochastics and EMA's - works a treat - also will if the pattern is right trade the GBP session but only after 10:30 chart time and only for 20-30 pip max - A very experience trader once told me - build your trading around a repeatable predictable event - that's all I've done
Hello Crooky, I see. Day trading has benefits such as being able to take up more trades, so one strategy is enough. That sounds great ^^
Hi bye mai hai
  • #10
  • Jul 13, 2019 5:29am Jul 13, 2019 5:29am
Quoting vijiragavan
{quote} i watch both but i prefer trend following.. using trend reversal strategy i exit trades and also counter trade the trend. i think it's better to stick with one strategy..i dunno what suggestion to give. sometimes both of your strategy may give you confusion. one may suggest to take buy and another one may give sell.. so better stick with one and trade it.. it took me 4 years to be somewhat profitable.. still struggling with mm,overtrading and so on but my strategy survives me. if u follow many startegy they may confuse you..
Hello Vijiragavan, I think you have given a very good advice. Stick to one strategy. I used to get bored, put on a ton of other indicators etc and then thought to myself, oh shit. that might work too. So on and so forth. I just refined my strategy(not sure if its going to be profitable or not, yet) and I only took a trade this week. I didnt even bother to watch the charts, i just let it run until my phone receives a notification that it has either took price or taken me out with a loss.
Hi bye mai hai
  • #11
  • Jul 13, 2019 5:34am Jul 13, 2019 5:34am
Quoting dkrock
A lower time frame trend is a higher time frame range, so if you learn how to trade ranges, you can trade nearly any condition. Since a time frame is just a time frame, once you get good at it, you can effectively trade lower time frame ranges too, as they offer more frequency, thus more money. Up to you.
Hi Dkrock, agree with what you said. There are always some small aspects that requires attention once i trade a particular strategy at any given time and it tires me out having to think of which direction i should take the strategy from that brand new point. I always either end up stop trading or restarting my count to hundred, starting anew, as Trade One, adding that new aspect or thing i overlooked, into the strategy. Hope i make sense
Hi bye mai hai
  • #12
  • Jul 14, 2019 9:18pm Jul 14, 2019 9:18pm
Quoting DuckHunter
{quote} Hi Dkrock, agree with what you said. There are always some small aspects that requires attention once i trade a particular strategy at any given time and it tires me out having to think of which direction i should take the strategy from that brand new point. I always either end up stop trading or restarting my count to hundred, starting anew, as Trade One, adding that new aspect or thing i overlooked, into the strategy. Hope i make sense
I don't know your trading strategy, but if it is probability based, then you can try blacking out your candles and trading just by your indicators. Use the vertical line function on historical charts to place entries and exits, then put the candles back on and compare. It will help you fine tune your strategy and stop jumping around from idea to idea. However, if you trade support/resistance or candle shapes, I have no advice. Those are not strategies. Good Luck.
You cannot be extraordinary by being normal
  • #13
  • Jul 16, 2019 5:40am Jul 16, 2019 5:40am
Quoting dkrock
{quote} I don't know your trading strategy, but if it is probability based, then you can try blacking out your candles and trading just by your indicators. Use the vertical line function on historical charts to place entries and exits, then put the candles back on and compare. It will help you fine tune your strategy and stop jumping around from idea to idea. However, if you trade support/resistance or candle shapes, I have no advice. Those are not strategies. Good Luck.
I trade trend lines based on 4 hour, and adjust it further on the hourly. then when the price bounces off the trend line, i take the trade. A mix of S&R and candlestick size and shape. I think it is in the latter category you mentioned.

I thought all trading strategies are probability based, but i learnt something new today, that you have mentioned about the blacking out of candles and just trading with indicators.
Hi bye mai hai
  • #14
  • Jul 18, 2019 5:33am Jul 18, 2019 5:33am
Quoting dkrock
{quote}......I just assume from my years of trading and all the posts on FF that the same 95% of people that lose trades are the same 95% that are trading lines and candle shapes. Each trade they take is a guess, so it makes sense to me. This is also where the urban legend, hocus-pocus, BS of only trading 1-2% of your account on any trade also comes from. When you never win, you can lose more slowly by risking less each time you place a trade.........

Well said, and parallel to my own thinking on trader development.

I now believe that what most expert writers or trainers want their clients to do is to actually lose money but very very slowly. They don't want students to blow up the very next day, that would just lead to blame, bad reputation, possibly even litigation. But they don't want anyone to get rich quick either - successful traders don't buy textbooks or training or strategies or signals. So they want their almost-but-not-quite-winning students to come back and buy another book, take more training, give them good reviews on the web. But if this is all they know, they still won't get rich.
  • #15
  • Jul 18, 2019 3:46pm Jul 18, 2019 3:46pm
I guess one profitable strategy is enough
  • #16
  • Jul 19, 2019 8:13am Jul 19, 2019 8:13am
Actually, this thread combined in my recent thoughts with another thread or two on another forum and I see a way to run two strategies without any of the mental interference which I usually suffer from when I have tried this in the past. The main strategy is trend-following: this is the one that takes the TA and the record-keeping and calculating risk and stops and entry order levels etc. etc. The other is also trend-following but purely mechanical (once the trend set-up is seen) with trades of 24hr duration each: tiny positions on suitable markets with no SL and no TP, close them at the same time next day and re-enter of the trend set-up is still in place. Starting this tonight.
  • #17
  • Last Post: Edited 9:37am Jul 30, 2019 9:19am | Edited 9:37am
Quoting tomorton
Actually, this thread combined in my recent thoughts with another thread or two on another forum and I see a way to run two strategies without any of the mental interference which I usually suffer from when I have tried this in the past. The main strategy is trend-following: this is the one that takes the TA and the record-keeping and calculating risk and stops and entry order levels etc. etc. The other is also trend-following but purely mechanical (once the trend set-up is seen) with trades of 24hr duration each: tiny positions on suitable markets...
Hey Tormorton, Abe1976 and everyone else reading,

i see what you mean.

After weeks of contemplation, i come to a "newfound realisation" that one good strategy is really all it takes.

When i began this thread, I didnt really understand what strategy really mean. It might sound like a no brainer now that i say it, strategy is just a set of rules. I was having trouble understanding the concept of being a discretionary trader from a mechanical trader. Now that i understood myself better, that i need things to be quick(not in the get rich quick way), but that i need the trade to play out within a day to 3 days, so that i can move on and learn from whatever mistakes i made, from that trade, and avoid it, improve on it, and become a better trader.

I also come to realise that i suit the discretionary trading style better. Within a set of rules for take price, entry, time frame etc, i can play whatever that comes, as long as the market conditions suits my set of rules, and that my set of rules(rules includes, indicators and its perimeters, candlestick patterns etc), can be applied in a logical manner in the current market condition.

Just like a photography. "Oh, i am into photography of insects today, so i need these ranges of lenses and, and so, from my collection." I pick the one that suits this type of photography the best. What time i should go out so that i can increase my chances of taking pictures of this particular insect i want to shoot, if i should carry any bait to lure this particular insect out, etc.

ps : When i say, "a set of rules" i mean, i might have 2 or 3 rules for taking price, and 2 or 3 rules for entry, and 2 or 3 rules for which time frame to use etc, AND, i will only pick ONE rule out of the two or three rules for every "category"(category being, take price, entry, time frame, indicators etc) so, one rule from out of a set of rules for each category that best fits the current market condition.
Hi bye mai hai
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