Have you tried using multiple strategies at a time?

Beginner Questions
21

I have often tried to find a day trading strategy completely different to my long-term trend-following trades, to complement those efforts and if possible make some revenue when I would otherwise not be involved in the markets.

Difficult.

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22

That’s very interesting. :open_mouth: Maybe this approach works for only the very organized and detail-oriented type of trader. :open_mouth: Simple isn’t exactly the word I’d use for 3 strategies at the same time. :sweat_smile:

23

Is there any particular reason this is the case? :blush:

24

It does sound complicated. :open_mouth: Initially, I thought it didn’t matter which strategies you put together. But after reading your responses, I realized there’s probably a lot more to consider. :confused:

25

Are you demo trading or live account? Margin might become an issue if you have multiple trades on different strategies running at the same time.

26

As I mentioned before, decrease risk. Hypothetical, you have live account with $10000, trading one strategy on USD/CHF, 15.01 this pair going down, veeeeeeeeery fast. Your account has been hurts, how much? it depends on your money management. Second example negative crude oil WTI price, traders sell contracts with loss because they don’t want to take physical delivery thousands liters of oil. You can say, I don’t trade this pair or WTI crude oil , but you never know which kind of problem you will face, trading your favorite instrument. Splitting risk to many strategies should help you in hard time to not blow up your account.

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27

Hmm. :thinking: I have both live and demo. :thinking: I was thinking of trying this out on demo first before going live with it. :sweat_smile:

28

Thanks for the very detailed and relatable explanation Professor! :blush:

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30

Try multiple strategies in Forex to generate a cogent signal. Study the market more and more.

31

Are you currently using multiple strategies in your trading? :blush:

37

Use several strategies at a time to confirm a signal. Many traders don’t do that and it’s their fault.

38

Oooh. :open_mouth: So you also use multiple strategies for this? :smiley: What are those and how did you get to choose which ones to use? :thinking:

39

Several strategies for one trade you mean?