Please answer my question

How many trading strategies can someone have as a beginner??

One… Pros have 2 at the most… What you do you do really good

As many as you can lay your hands on. Try them all one by one and see which one appeals to you. Then choose the ones you want to trade and throw out the others. You will likely end up with one or two that you will use consistently.

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Hi, so you have two answers within 7 hours, and they seem to be extreme opposites. I think both are true. You can either apply one strategy and learn it deeply, or take the scatter gun approach and try more than one. In my previous Forex life, I chose many, flipped between different time frames, and ended up turning a simple business plan (using 2 strategies) into a losing experience. It is very tempting to jump in and try everything at once. But that does not fit the recommended psychology of the successful trader. Try one or two in the beginning, and record all your trades, then try to analyze why you took profit on good trades and incurred losses on bad trades. If you do nothing else, don’t trade more than 1% of your capital on any one trade. This is a low cost way of finding out if you can establish and edge. If you don’t have an edge, you will gradually reduce your capital to the point of blowing out the account.

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No I think the awnsers we gave are similar… I said master one and @QuadPip said try a few to before mastering one which is good advice as the strategy you pick needs to suit your personalty and goals

However some goals will rule out certain strategies

As a beginner, start with one which is long-term, preferably using daily charts only.

When you can trade long-term with consistent profit add a second strategy that works intra-day. If you never get profitable on the dailies, don’t bother trying to day-trade, you will just get chewed up.

Traders who start out in the reverse order, starting their trading intra-day, are mostly not around for very long.

you can use so many trading strategies , but not in a live , use demo account where you can see how all trading strategies work.

its a good decision, i always use high leverage and strategies in demo to see the performance how it works, it always helps me to avoid unfortunate losses and risk.

You are right sir. Another lesson for me. Read everything before you act. Especially price action :slight_smile:

When you have started trading for real, you will understand how exhusting trading can be and you’ll learn to focus on 1 or 2 trading strategy at a time. You can use or understand up to five and apply them all at once. Trading is a phase, you get to move from one strategy to another.

…Another lesson…Don’t worry a sign of an excellent trader is that they are always learning…:slight_smile:

Right now Im reading Howard Marks