Do You Really Need More Than 1 Strategy
In today forex faq, we have a question from one of our fellow traders asking me why I need to trade with 8 strategies. Is there really a need for that many strategies?
Below is the question:
I have been to your website on Forex Street University and I am curious to know why you need to trade with 8 strategies? Can’t I just make money with 1 strategy?
That must be a question that some of you are curious about too. In fact, I started off trading with 1 strategy only. However as the market conditions change, there are not as many trading opportunities for me.
There are times where the market is in a strong trend and there are also time where the market is going into a sideway movement. There are also times where the market is quiet and there are also times where the market is very volatile.
Therefore I started to formulate and fine tune more and more strategies to use in various market conditions.
Besides considering market conditions, I also formulate strategies to accustom to my trading style. There are times where I am unable to look at the chart all the time such as going on vacation and there are times where I have a lot of time looking at the chart waiting for trading opportunities.
That is exactly why you see that I have 8 strategies in my Forex Street University Course ranging from Scalping Strategy that can gives me a lot of trading opportunities to Trend Trading Strategy which allows me to trade off bigger time frames and requires lesser time from me.
With these 8 strategies, I have no problem trading off any market conditions and I can trade on any time frame of my choice depending on my time availability to trade.
So you must be wondering where on earth I manage to find ideas for these 8 strategies. There are some that comes from precise fine tuning of other people’s strategies and there are some that are totally formulated by myself after years of trading.
I hope that I have answered your question and if there is anything you want to ask, do feel free to write a comment below.