I’m asking this because I know u shouldn’t be switching strategies so often but what if u have a strategy that only works in a trend and it consolidates for 1 week / month ?
I have other question, why you want to trade by single strategy?
because I heard that you make on strategy with a set of rules and stick to it
Often a strategy will not work on a single selected pair. But why limit your strategy to one pair?
My pro trader friend has devised five differing strategies for different market conditions. He has been consistently profitable over many years.
As for us, we normally stick to the strategy that works. That would be trading trends (20%) and trading ranges (80%). It really depends on what type of trader you are. Either way, it doesn’t stop you risking 5% on one trend trade or 1% on five range trades.
Switching from strategies is not adviced. If you can truly read price, then you already have what it takes to be profitable. I stick to this one thing and it makes me money.
It’s a really good question , it open questions are you a daytrader or trend seeker.I think personally the two are totally different skills
The majority of trades and effort (and profit) are concerned with long-term trend-following trades. However, this leads to lumpy trading - I’m either in with 6 or 7 parallel trades or I’m flat. And if the markets go from risk-on to risk-off or vice versa, all my trades run into manual exits or stop-loss exits simultaneously.
Its completely rational wouldn’t you agree, that I should try to replicate the same strategy, but on the primary time-frame of hours instead of days?
Those are two sides of the same coin