Topic: One or more trading strategies, which one do you prefer? - page 5. (Read 875 times)

I think, single strategy will help you to be more focus on a favourable direction until you achieve the results from the crypto trading before you can move ahead compared to many strategies that will make you feel you are not in a right direction because you are seeing different signals from the market which are not guarantee if you will make profits. I prefer single strategy, because I started using single strategy to trade my coins but till today it hard me to experience losses from crypto trading because I purchased when the price is low in the market and sell when the price increase higher to my satisfaction.

Combining the right strategy is intensive though, it has to be that what you're combining needs to cover the weakness that each strategy has, it will be worthwhile to do this but if you don't want that maybe just one strategy will work for you. At the end of the day, it's a matter of preference.

I think more is the true answer because we are talking about a lot of different market situations which means that we are not going to see them all do the right thing at the right time. If you have just one strategy that means that it will work maybe in one market but that will not work at every single situation, like a thing that works well at bull doesn't mean it will work at bear neither and just because it works at bear doesn't mean it will work at bull neither.

You should be ready for everything and that's the thing that keeps people at night, they keep with just a single strategy and they make a mistake. I prefer more strategies and just use whichever one fits the market a lot more, that way you are going to end up with a lot better result eventually for sure.

So it was tied together those strategies. Well do have our own strategies, if that is working well for you that is good as you have more confirmation of the trade to take which is a good trading strategy, where on my I do used also around 3 - 4 indicators which mainly trend line as my strategy is trend following which is working on me but I do follow the same goal. We really do have our own strategy that works well for us , for sure if you teach me your strategy I will get confused

Of course, we will only stick to what is working for us since it will arbitrage our positions in the market. However, mastering several strategies are not that easy that’s why we should only chose those best strategies that we can easily master and eventually apply in our trades. If we can have more than one strategy, that would be better since we can’t assure that a single strategy will certainly work all the time.

How do you use a combination of strategies in trading?
I just know this, never heard this before and I never did this way.

IMHO, we can't rely on a single strategy only forever. Another market trend may require another trading strategy to earn profits effectively. I experienced many times that I must change my trading strategy when the market trend changes. For example, I often do day trading in a bullish season, I can get enough money during the season with this strategy. But when the bearish market comes, day trading is no longer effective to use. I switch my strategy with another strategy, so I can still get money although it is decreasing much. And I no longer trade daily because I rarely get good chances to take profits.

In conclusion, we need to adjust our strategy in trading with the current market trends. So, we need varied trading strategies.

He do talk about strategies which means this would be an overall plan which means that it would really be a different variations or sets of indicators inside of a certain strategy.If we do speak about one or more strategies then it would really be subjective and would really be totally depending on a certain trader on which it would really be that something basing on someones analysis and approach towards the market.
We know that there are ones who are really that they do have trading plans on which it would really be just that normal that they would really be having that kind of adjustments on whatever conditions
or situations that they might be facing on. If you do have a set of strategies then it wont really be that bad and its better rather than on sticking on single strategy which we know that this market does have
lots of variations on which it would really be that normal that you would really be needing to make use of another strategy you until you do find out that it is really something
profitable or does work.

Are you referring with the trading plan or just the trading indicators?
If you are referring to the trading plan yes it is because you must need to have on trades, for the planning of entry, how much, what coin, how many leverage, also when is your exit point. On this still the market is volatile so ideal to have your back up plan when the market does not goes into your plot.
If its in the indicators actually better to have one if this works fine in your side, using different indicators might give you too much confusion, don't design your chart make it simple.

I prefer a single trading strategy and my reason for it is extremely simple, most traders cannot even follow a single strategy, so it stands to reason that if you made things more complex and they decided to use several strategies then they will make even bigger mistakes and their performance will drop even further, and even if a trader could deal with this I think it would be better for them to master a single strategy first, and only once they have used it for a few years they could think about using more than one strategy.

It’s always an advantage if you have learned and master more strategies in trading so that if one strategy starts to fail, then you can rely on the other one which you think will work on you. But always know that strategies are not enough, experience will still honed you the best trader in the market. So even if you lose, don’t lose hope as long as you are also learning from them.

I always believe that the more strategies you learn and master, the higher chances you will be consistently profitable in trading. But if the strategy you are currently using is still working and profitable regardless of any situation in the market, then continue to use and update it also if it’s necessary. Your other strategies will only be reserves in case your current strategy is not profitable and effective anymore.

To know the amount that's suitable for market via trading is not measurable or difficult, so I want us to understand trading and cryptocurrency marketcap is unpredictable, that's while it's advisable to trade with what you can afford to lose, so therefore I believe that trading bitcoin or any other cryptocurrencies you to use your strategies.

Yes, and that's why in the latter part I've said that those ineffective traders, just chose to become holders and that's the strategy that they've found working for them. If the worst comes then that's the strategy that a trader should choose because if you still want to get involved in this niche then all you need to do is to adjust. You'll have a lot of hard and bad times but only those that give up will never succeed.

I agree, if you are steadfast and improve you'll be able to make it. But if you think that you can't make it as a trader then there's still the choice to become a holder.

Doesnt matter on how many, the important thing is on that you would really be that profitable whether you do make use of one strategy or multiple ones. We know that dealing up with this market is really that hard
and not simple due to volatility and unpredictability on which there's no way or tools that could really make you able to precisely hit on where it would be going. This is the main reason on why we do really keep on
making use of multiple strategies on which we do really believe that it might able to work but of course just like i said that this would really be involved lots of trials and errors. We know that there are different scenarios or conditions on which this market has.This is why or it is really just that right that you would really be making out adjustments according into that particular situation. You cant really able to know
but doesnt mean that we cant try. This is why it would really be countless strategies which you would really be making use as long it would really be able to work.

Every market condition requires different strategy to use so that you will trade for profits and not at a loss. However, if we can use a single strategy that works for both of them, then that would be better. The only reason why we should use another trading strategy or update the strategy is when it’s no longer effective and productive anymore. That’s why if we can master more strategies, that will give us more advantage in trading.

I do not do daily trading in the first place as that is a sure loss,I consider it the same as gambling where you have no power over the future in such a short time.The only "trade" I do is to keep generating cryptocurrencies with my mining rigs and hodl them until the next bull run.History has shown that after the halving,it needs usually 1.5 years to go to a new all time high and so since halving is in April 2024,I am waiting late 2025 for the next bull run and stocking up coins until then.

As for one or different strategies for me they are the same,if you apply them correctly one is enough but if you mess them up even one hundred are not enough then,better staying with long term goals and strategies as they usually do not fail if applied correctly.

I do say, don’t use any strategies more than once. For me no strategy works the second time. Maybe I am more concerned about my balance, but yes, I know the value of my hard earned money and whenever I try to repeat any strategies, it miserably fails. I would rather suggest all the traders to look for indicators and trade in a similar way. Moreover it would be even great if we all become adaptable to the market. Trade the amount the suits the market and is favourable for these conditions.

What I mean is using one or multiple trading strategies, not trading in one direction only. Be it the use of indicators, drawings on the chart, price action, or grid trading, whatsoever style you deem to use. All I need to know is whether you prefer a single strategy to know when to buy or sell, or you prefer to combine strategies to spot your trades.

Why is it impossible? This is the strategy I use and it took me over 8 years to build and master, and not only that, the emotions of holding my nerves until all of them agree is not an easy task to achieve until I understand the importance. Well, it's been many years since I use this strategy now and I am sure that it's worth using as the time of waiting for the three to agree is worth more because it lessens my losses.

Certainly not, I mostly use three strategies to spot my trade and they are easy to use as they do their work in a different fashion but still towards the same goal. I can be confused only if my chart is clouded with too many indicators/strategies, up to 5 strategies are still very easy for me to work through, but I've narrowed it down to just 3. What I use mostly are price action, trendline and a custom indicator for trend trading.

As you can see, they are all simple and have their purpose of usage. And the signal is stronger when all of them say the same thing.

It will not confused you? I mean having multiple strategies can make you confused because one of it is you dont know which strategy follow and I dont know how didto filter out those confirmation because that would be like time 2 confirmation on your plans on entry unlike having one is that if that confirmation is not fit in your strategy then you wont get bait. We do have different strategies but for me it makes me more confused this is the same with tons of indicator on the chart, the fewer indicator the lesser the noise in the market

Depending on one type of strategy can be fustrating at some point because sometimes you need to wait for days or weeks for the completion of a particular trading strategy and in this espect you will have less number of trades to take than when you have two or more different strategies. Some traders use break out strategy, some trade market patterns, while some focus on the candles sticks bullish or bearish engulfing pattern, harmers etc to take their trades. The bottom line is that it doesn't matter how many strategy that you use, what matters here is if your strategy is profitable whether you use 1,2 or more strategies and it's profitable stick to it because you are there to profit not to lose.