So, ,is not possible to trade with multiple trading plans but same strategy?
You’ve misunderstood what “trading plan” means.
These links may help you:-
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No strategy can have the funds for you 100% secured allowance but these strategies can support you to prevent a lot of losses that you may acquire from the forex through unskilled trading.
Thanks a lot for these attached links, now I got it.
@Wara_arif
You’re correct, I’ve tested this.
There is a certain validity to scalping, but on the long term it doesn’t work
YES, because risk is high
but also for these reasons
When you are scalping , you are traditionally jumping in and out of trades.
This method DICTATES that you must enter a lot of times during the day
now… doing this will increase your chances of loss by a great deal for many reasons
There is a time and Place for scalping
so if you have $100,000 in your account balance and you want to scalp 1 - 5 pips and pull in $500 for 1 day to secure it as income
sure, you can do that
but, you wouldn’t do it 1 after the after after the other and so on, that would be stupid.
you would time your entry and the trade, YOU WOULD PLACE 1 TRADE FOR THE DAY and You’re done
that would work
but if you continued … hehe… yeeeah, that’s how accounts get blown up
There is indeed.
And retail forex-trading using a counterparty “broker” definitely isn’t it!
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But aren’t there really just 2 strategies? -
Buy, because price has been going up
and
Sell, because price has been going up
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It depend on how much time you have spent about your trading strategy. If you can pass a long time of course maximal result will come by strategies.
As a part timer and beginner scalping is better than other techniques. I think if you depend on scalping should choose the currency pair which has most lowest trading spreads , otherwise scalping could not be profitable at all despite of good trading knowledge.
Scalping brings profit in a short time but it causes great risk. So always not possible to depend on this approach. And by and large brokers don’t allow trading concept such as this.
Yes I have seen so many brokers don’t allow scalping as well hedging. So, scalpers have to choose the platform which always ensures best trading environment for using scalping by providing lowest trading spreads without having any limitations.
I use one strategy that is based on two strategies. It works well and without any serious mistakes.
I use two strategies simultaneously. Plus, I use another pretty simple strategy to double-check the results.
What is your money management plan when using trading strategy ?
I’m using two tried and tested and effective strategies now.
To effectively get a good trading strategy in Forex, the trader need to decide their Why? Your reason for trading can determine which strategy will be good for you.
Basically, as much as you can safely profit from and handle correctly
Is not like doing more or less would be better or worse (But most likely it would be the latter), is more of seeing which, how and when each work and use them the best you can
Really it is your own choice how you want to do trading. As much a trader is facilitated he can manage his ways of trading develop his own strategy to work. he is not bound to apply any other strategy for profits. I know many people who are doing well with simple ways they not put them in difficulty to know any profitable strategy told by others.
just one or two strategies i might wait for few month the setup to take into place
At the moment I use just one strategy involving trendlines. I don’t like dividing my attention between many strategies and many instruments, I’d rather focus on one thing that I know it works.