When do I switch from one strategy to another? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Another Day, Another Chair, Another Day in the Office 203 replies

The Support Resistance Switch Method - Trade with one line 91 replies

Is it possible to switch brokers on one MT4 platform? 4 replies

Switch profiles over from another mt install 1 reply

two version of FF tunnel Chart, one say down, one say up, which one is correct? 3 replies

Attachments: When do I switch from one strategy to another?
Exit Attachments

When do I switch from one strategy to another?

  • #1
  • First Post: Mar 21, 2016 6:53am Mar 21, 2016 6:53am
I dont know how to describe this well, I'm in much a condition where I find myself jumping from one strategy to another , I am desperate as I keep getting results I do not expect,when do I switch from one strategy unto the other? All help much appreciated.
  • #2
  • Mar 21, 2016 7:08am Mar 21, 2016 7:08am
Quoting Sarah121
I dont know how to describe this well, I'm in much a condition where I find myself jumping from one strategy to another , I am desperate as I keep getting results I do not expect,when do I switch from one strategy unto the other? All help much appreciated.
Its a phase most traders pass through. The most important thing you can do now is to keep a journal of your trades, decisions, entries, exits, emotions, etc. Study what worked and why. Study what did not work and why. Soon you will begin to realise what works for you and what doesn't. It is hard work.
  • #3
  • Mar 21, 2016 7:10am Mar 21, 2016 7:10am
let me make it short for you I spent 5 years searching for all kind of crappy indicators and so far i noticed Price action (http://www.forexfactory.com/showthre...97#post8826597) works the best
  • #4
  • Mar 21, 2016 7:12am Mar 21, 2016 7:12am
Quoting Sarah121
I dont know how to describe this well, I'm in much a condition where I find myself jumping from one strategy to another , I am desperate as I keep getting results I do not expect,when do I switch from one strategy unto the other? All help much appreciated.
Hello, i give you an honest response. You do not "switch" form strategy to strategy. Especially if it is developed by another person. You must learn the basics and go through a lot of bullshit and common knowledge on foroums, then you should start to think more deeply and critical and gain a lot of knowledge, which will give you the ability to start think for yourself, sift the usefull from the useless. Then you will start to develop your own way. Hopefully , after a lot of pain and many failures, a lot of sleepless nights, hours of dedication and hard efforts, you will start to see some results. Be prepared to get smashed a lot, as trading is agressive and mistakes are hardly tolerated and paid with sweat and blood. Traders either get successful after years of work or they never get.. Keep your faith cause you will need it a lot. Also keep an individualistic approach, its for your best. Wish you good trades.
  • #5
  • Mar 21, 2016 7:24am Mar 21, 2016 7:24am
Take a look at http://www.forexfactory.com/showthread.php?t=566505

Also , the 2 pics below will give you a direction :

Attached Image (click to enlarge)
Click to Enlarge Name: 1ledct.png Size: 63 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2ledct.png Size: 88 KB


Quoting feline207
{quote} Hello, i give you an honest response. You do not "switch" form strategy to strategy. Especially if it is developed by another person. You must learn the basics and go through a lot of bullshit and common knowledge on foroums, then you should start to think more deeply and critical and gain a lot of knowledge, which will give you the ability to start think for yourself, sift the usefull from the useless. Then you will start to develop your own way. Hopefully , after a lot of pain and many failures, a lot of sleepless nights, hours of dedication...
Money moves the market, not an indicator.
  • #6
  • Mar 21, 2016 8:24am Mar 21, 2016 8:24am
it's no way to do it before you can trust your strategy,
it is because of lack of trust you are not sticking with a strategy.
all you can do is research and find a way that is consistent,
then prove it to your self by back testing and forward testing.
when you see that your method wins more than it loses,
then you are probably going to be confident in your trading and stick with it.
if you have a method developed by others than your self,
it's going to be hard to gain trust because you simply don't know how it's working and why
and how it is supposed to work..suggest you develop your own method,
unless the developer can explain everything in detail for you and you agree with the methodology.
Bulls are stupid Animals!especially when Im short!
  • #7
  • Mar 21, 2016 8:39am Mar 21, 2016 8:39am
Quoting Sarah121
I dont know how to describe this well, I'm in much a condition where I find myself jumping from one strategy to another , I am desperate as I keep getting results I do not expect,when do I switch from one strategy unto the other? All help much appreciated.
You seem highly consistent in your overall strategy of jumping from one strategy to another.

Thats just my observation, I am unclear on how I can offer helpful advice since you have not made your goals or intentions known.
  • #8
  • Mar 21, 2016 10:07am Mar 21, 2016 10:07am
The main goal she/he should have is stop live trading IF that's what he/she is doing. Demo exclusively.
  • #9
  • Mar 21, 2016 10:11am Mar 21, 2016 10:11am
Quoting feline207
{quote} Hello, i give you an honest response. You do not "switch" form strategy to strategy. Especially if it is developed by another person. You must learn the basics and go through a lot of bullshit and common knowledge on foroums, then you should start to think more deeply and critical and gain a lot of knowledge, which will give you the ability to start think for yourself, sift the usefull from the useless. Then you will start to develop your own way. Hopefully , after a lot of pain and many failures, a lot of sleepless nights, hours of dedication...
Excellent post! To the core.

Sarah, try to look at it this way - how much time you need to earn say 50 dollars? I guess 8+ hours working for someone. No different here. Only difference is working for yourself. And 8+ hours is an understatement as time needed to invest in markets studying.
  • #10
  • Mar 21, 2016 12:26pm Mar 21, 2016 12:26pm
Quoting Sarah121
I dont know how to describe this well, I'm in much a condition where I find myself jumping from one strategy to another , I am desperate as I keep getting results I do not expect,when do I switch from one strategy unto the other? All help much appreciated.
Dear Sarah...I think the reason youre concerned about your switching strategies is that it may not have occurred to you to focus on the most important thing; which happens NOT to be the strategy youre using. The most important thing is.....YOUR MONEY!

Be free to trade, simply keep an eye on your money.

You could consider something like this:

- Use ANY or EVERY Strategy you like..
- For a 1000 bucks account; for all trades use a lot-size of 0.01 lots (or smaller - if you can open a cent account which allows even lower leverage)
- Open whatever FX pair charts you like, do the best you can to come up with your decision as to whether the price will go up or down in the nearest future..
- Either open 1 position per chart; or multiple positions IN THE SAME DIRECTION per chart (i.e. dont hedge on that chart)...max of 3 positions; and each position must be at least 50 pips away from the previous one on the chart irrespective of whether the position is winning or losing.
- Open trades on as many charts as you like; but please do not exceed 35 Total Open trades.
- DO NOT USE STOP-LOSSES OR TAKE-PROFITS FOR THESE TRADES!
- Open the Terminal Window of your MT4; and when the Total PnL of your positions combine to 10 bucks profit; close all your trades NO MATTER WHAT. You could get a script to help you with that. (Search FF for the closeall script or a Trade Manager EA that can do this on auto).
- Now for the most difficult part: W-A-I-T!!! Till you hit 10 bucks..You will need to resist the temptation to close your trades prematurely for either winners or losers.
- Rinse and Repeat.

I figure that unless youre exceptionally gifted at picking the 'wrong' direction every single time for every single trade at the worst possible price; you will make some money consistently...if you do find that youre exceptionally negatively gifted though, you need to come back and tell us, I'd like to reverse your trading decisions.

Kind Regards.
  • #11
  • Mar 21, 2016 1:28pm Mar 21, 2016 1:28pm
Quoting Thoughts
{quote} Dear Sarah...I think the reason youre concerned about your switching strategies is that it may not have occurred to you to focus on the most important thing; which happens NOT to be the strategy youre using. The most important thing is.....YOUR MONEY! Be free to trade, simply keep an eye on your money. You could consider something like this: - Use ANY or EVERY Strategy you like.. - For a 1000 bucks account; for all trades use a lot-size of 0.01 lots (or smaller - if you can open a cent account which allows even lower leverage) - Open whatever...
Lol i like what you are giving out here Its simple enough. However for people having RED NEGATIVE NUMBER in their face since start of the trade will affect them a lot... Dont know if any is willing to give it a try, and it will be even harder when they increase their lot size as the account size grows
  • #12
  • Last Post: Mar 22, 2016 7:03pm Mar 22, 2016 7:03pm
Thank you everyone, I appreciate the help, have noted most of the advice here , thank you once again
0 traders viewing now