Start with one or many

How should I find the right strategy for me to use?

Do I start with one strategy and start refining it along the way, or do I start with many and see which one is more profitable?

Which one should I choose and which one did you choose, why?

I think the best thing is to study trading in general. After that, i suggest you to observe the market, and look for some kind of regularity, or recurring pattern, with price action or indicators. Avoid grids and martingale, they are just mathematic toys (anyway, you will be able to try them in the future!). By making your own analysis you will learn to understand the market dynamics and trading. Don't start by comparing many trading systems: TS that work may no longer work tomorrow. I can actually find many "working" trading systems now, but i'm not going to bet on them because they may stop "working" tomorrow.
As last suggestion, start focusing on the same instrument/market.

The main thing is to start learning how things work, not looking for an immediate profit. Trade on demo and start with the basics - there's plenty of information on this forum and places like babypips that can help with defining what the basics exactly are. Also - one instrument at a time and one strategy at a time, no more. Otherwise you'll waste time and water down your own learning process and possibly even convince yourslef that something wrong is actually right.

I also started on a demo account a few weeks ago. I made some profit and feel I am ready for an actual account now. I have only started learning the market now and I am still learning some of the basics. Is it better to stay on the demo account, Or move to an real account? I believe in getting thrown into the deep end works better.

Spot on

Hi, bryan9725

I propose to learn technical analysis.
It's important to determine that's acceptable and what is not for you personally.
At the initial stage to delve into a variety of indicators and instruments didn't see the point. Many of my friends traders started with one strategy, examined all aspects of it. Gradually perfecting one strategy appears a number of issues that are somehow intertwined with other strategies.
But if the chosen strategy will ultimately be profitable, whether it makes sense to use multiple?

Trading on a demo, as it's well known, it's very different from a real account.
Easier. In order to understand the market we need to make a real account. Let it be a micro or mini. Real money will be present fear, uncertainty, and people make mistakes, moving away from theirs strategy.
I propose to use SL and TP. It helps.

It seems to me that it is necessary to try several strategies. There should be a choice. As long as you try at least five or ten strategies you do not understand any better. This individually. I would not rely on someone approaches. To each his own.

When I started trading, then I tried a lot of options. The most suitable for me was scalping. Very easy to use. The downside is that there is little profit. Over time, I realized that you need to change something.

Now I use Buffett's strategy. Time spent less and profit increases. Just open an order and wait. The most important thing is not to miss the moment of closing. As for me, this strategy is one of the keys to success

So in the end is it recommended to have one or many? Forgive me if you mentioned it in your post in a less obvious way.... my English can be quite poor

You can try to use all of your strategies with demo account

bryan, great question!

The short answer:

You should try many different strategies, but I don't think it's a good idea to actually use many different strategies at the same time. Eventually, you will (hopefully) find one strategy that works well for you. Once you find it, you should just focus on that strategy and ignore all others. Become a master of your one strategy.


The long answer:

I remember reading long ago when I started trading that you must find a strategy that matches your personality. I thought that was so stupid! In my mind at the time, I thought: Either a system is profitable or it isn't; it doesn't matter if it suits your personality or not. Anyone who uses a profitable system will be profitable, and anyone who uses an unprofitable system will lose money.

That's what I used to think. Now, there is some truth to that, but here is the problem with that thinking: Unless the system is completely mechanical to the point where it could be run by a computer, there will be some subjective areas of the system. There will be some room for error and times when you have to make decisions that are not explicitly detailed in the system. This is unavoidable in a non-mechanical system. And it is at those critical times when you have to act sensibly. You have to think back to your trading philosophy and do what makes sense according to your approach. If you are using a strategy that matches your personality well, then you find it very easy to stick with it and to do the right thing at those critical moments. However, if you are trading some system that you just found somehwere because you think it works, then you are likely to start making the wrong decisions at those critical moments.

One of the worst decisions you could make is to switch to another system because then you will just keep jumping from system to system. This is a very common problem that many beginning traders have, and I certainly had this problem, too. As soon as whatever strategy I was using at the time seemed to stop working, or as soon as I felt that it wasn't making as much profit as I had hoped for, I switched to another strategy. Sometimes I would read forums and articles to find a system, and sometimes I would design my own system. I kept doing this for years! Eventually, I realized that as I jumped from system to system, I kept coming back to a similar style of system, and that helped me figure out my style.

The tricky thing is that you still must have a profitable strategy. No matter how well you like a system, you're not going to make money if it simply doesn't work. So you do have to do some searching and testing to find a profitable strategy, but at the same time, it must be a strategy that you are comfortable with; otherwise, you'll just end up abandoning it and jumping around from system to system again.

How do you find a strategy that suits you?

Well, to start getting an idea of the kind of strategy that suits your personality, you want to ask yourself a few questions. These are very general questions related to how you think about trading. As you read these questions and the possible answers, think about what you agree with.

1. ​The price has been going up and up for a while. That means I should...
   1. BUY!!! It's clearly in an up trend and I want to catch this trend and ride it all the way up.
   2. SELL SHORT!!! The price is way to high now, so it has to come down. Buying now would be foolish!

   
   
   

2. In order to accurately predict how prices will change, ...
   1. ​I must learn all the important chart patterns. Prices follow patterns and if I can see a pattern start to develop, I can predict where the price will go and profit form that move. Indicators are userful tools that can help me see these patterns and filter out the "market noise".
   2. I must have an excellent understanding of economics. Prices move because of real-world events that happen in the different economies of the countries involved. Learning how economies work is the best way to understand the forces that move prices.
   3. I must stay up-to-date with the news. Every little bit of news can affect price. It's a well-known fact that the biggest moves in markets happen around news releases. If I can get a good source of news, then I will have all the information I need to make my trading decisions. Information is everything!
   4. I must learn how markets work and how traders think. Trading is a game of stealing money from amateurs. By studying order flow, I can figure out where the amateur traders are placing their trades and stops and I can bet against them. I can also figure out where the professional traders are placing their orders and I can follow their lead.
   5. I cannot do anything to predict price movements. Predicting the markets is impossible because prices move randomly. The best thing to do is just jump in and then use a good money-management strategy with lots of discipline.

   
   
   

3. It is better to trade...
   1. ​LONG TERM: Trading on very short timeframes is almost impossible because the moves are so small and the spread/commissions will take away all my profit. Also the shorter time frames just show a lot of noise, so I can't see the real trends. I need to focus on the big picture. I must use follow the major trends on the daily and weekly charts. Catching one big trade can make up for many losses.
   2. SHORT TERM: Trading on longer time frames is too slow. If I miss one trade, it could be months before another good opportunity comes along. It's foolish to try and make big huge wins. The way to trade is to make many small, consistent trades. Don't try to catch the big moves. All I need is a few pips per day and I can get rich. Plus, with more frequent trading, I can compound more frequently to multiply my profits.

   ​
   
   

​Which of these statements did you agree with? Were there any that you felt strongly about (either for or against)? This will help you narrow down your search. Then you can start to find a system that really works for you, and you can explore it in detail. You can test it and make small adjustments to make it work better for your syle of trading. Eventually, you will start to figure out all the little details so that you become a master of your strategy.

how do you think which strategy is better for beginner?