Since starting my forex quest I have looked for that one perfect strategy that will let me be successful at forex.
I’ve came across a few that worked but just didn’t give enough trades to be worth my time.
Then last night I had a light bulb moment.
If we have 5 strategies with a high win rate but not many trades then surely that would be enough to start trading with.
Does anyone here that trades full time do this or is it just the one you use?
Hello, 4 depending on market conditions.
The Ever Adaptable VIPER
I’m sure it would, if each of the five had both a genuine edge and appropriate position-sizing.
But when you look at the extreme difficulty that people taking up trading typically experience in coming up with one strategy that has both a genuine edge and appropriate position-sizing, and when you look at how very difficult and counterintuitive it typically is for them even to be able to learn to tell confidently what has a genuine edge and what doesn’t, and how to work out appropriate position-sizing, it’s perhaps not very realistic to imagine that any of them will come up with five?
The reality is that, for the typical developing trader, “high win rates” are a counterproductive illusion and a handicap.
It’s all too easy for them to assume, consciously or subconsciously, that “as long as my win rates are high enough and as long as my methods trade often enough, then somehow everything else will probably work out ok”.
It’s precisely because so many people believe that, that the success rates are so tiny, and that most people venturing into forex trading eventually end up dropping out without ever having become successful at all, and without really understanding why, either.
If people started off, instead, by developing some initial understanding of why high-win-rate systems are usually illusory and counterproductive for all but institutional traders, they’d actually have considerably better chances.
It’s not as if there’s any shortage of beginners’ trading books explaining it clearly enough, either. The problem is that most of them try to learn to trade from online sources, instead, so they’re rarely exposed to this essential introductory information.
It isn’t what most people want to hear, either (and some are so attached to their own optimistic and misguided perspectives that they’ll even try to challenge or dispute it!).
There was a discussion here yesterday, on this very point. If you read onwards from this post of Justshell’s, you’ll see what I mean.
I have 1 strategy
I’m a full time trader
been trading 7+ years
My one strategy is something that i understand and have tweaked over the years.
it incorporates other strategies to allow for changing market conditions and use of differing instruments
i basically have a flow chart that defines my strategy
i follow the flow chart
it’s really as simple as that
hehe
i know i’m over simplifying… of course
and yes, the flow chart took a few years of tweaking to perfect
but at the end of the day
i have 1 strategy that moves to accomodate how the market is behaving and the strategy protects me from loss and manages my risk
that’s probably the best answer i can give you
I use only one strategy, but four different trade entry set-ups.
Same here, except I haven’t precisely restricted myself to certain entry patterns / signals. But every entry is with a consistent trend.
After many years of trading, I’ve concluded it’s desirable to master just 1 or 2 trading strategies in order not to miss promising entry point
I have tried to work with too many strategies, but honestly speaking it not works practically. This approach took lots of time but didn’t back nothing .That’s why now I am trying to focus on a fixed trading strategy.
How much profit will come from strategies it completely depends on how much time you have invested in your trading strategy. Demo account is the best place where we can practice about our trading techniques to see the performance how it works. This technique can be supportive to avoid risk when trading practically in live.
There is anybody in here who got maximal result by scalping that brings profit in a short time than others trading techniques.
there is no chance to earn more by scalping approach even though there is big lot size. It takes very short time to earn profit but honestly I don’t like this technique, because it contains huge risk.
I trade based on Price Action trading system with my fundamental trading knowledge! Till now I’m learning and updating my trading skill.
I have one strategy, but then I’m fairly new at this. Considering the amount of work that went into finding even one strategy that works for me, I’d rather spend my time refining and building on that one strategy than looking for another.
Of course, there will come a point where I will feel that my current strategy is as good as it can reasonably get, and then I might start looking for a second strategy. An alternative approach would be to look for more markets where I can apply my single strategy.
I think, one good strategy with multiple trading plans would be much effective than a couple of trading systems.
And I think you’re clearly very confused about what the terms “strategy”, “trading plan” and “trading system” mean, and that you shouldn’t be trying to advise anyone here. 
One day I got great results by scalping, but it didn’t last long. Once your attention is lost, you’ll suffer huge losses, so this strategy can’t be used in the long-term.
If you want to get maximal result by scalping trading policy first of all you have to choose the currency pair which has most lowest spreads , otherwise scalping could not bring profit at all.
I know this common point. But how much you earned by 1sat trading? and how much your deposit ?
As a newcomer it’s difficult to depend on price action trading strategy, but I want to be an expert about price action. How much time you have invested about this trading techniques ? and can you make profit consistency by means of this ?
That’s the general procedure; I also used so many trading strategies in my early stage of trading but right now, I trade with one trading strategy, although I need to improve more.