Topic: Stay in one strategy in crypto trading is more comfortable to earn income. (Read 315 times)

traders in general just use what works, doesn't matter if they need to stick to one trading strategy forever, the thing is market dynamically change and new strategy required, there will be some point where you have diminishing return because your strategy is outdated. at that time a trader that seek more profit need to change things around.
so it depends on the circumstances really, trader would definitely be happy to stick with one strategy, like for example longing when in bullrun at every price dips, but what happen if market turns bearish? there will be many of these dips that the dips you bought were actually not the real bottom so you lose money. strategy change and it follows market dynamics.

Does not really matter if we only have one or two strategies, what's important is that they are constantly at work and effective. Reality is, it's even harder for most of us to land into just a single strategy that will boost our confidence and will consistently work for us. Not all traders are capable for that, the reason why many end up trial and error, until they finally decide to quit trading for good as there are more seen losses than reliable gains.

But, he is talking about being comfortable there. And even though both types makes us to earn but I think it is the one where we are only using one strategy is the one that is comfortable the most.

The key in crypto trading is that one should earn a profit and it does not always mean to be different with the other. There are people who can't seem to create a working strategy on their own and then they are seeking for others. So why not? Sharing is caring as they say. We don't know, maybe that person will get lucky here and the strategy that the OP gives will also work on them. You even mentioned combining things in your last post. See?

That's right. Actually, learning many strategies is good so that we can gain extensive knowledge and can choose which strategy is right for us so that we can get consistent profits. Changing strategies is something that must be avoided in trading because it can make you lose and greedy.

The point is, learning many strategies is good because you can test one by one, try to find the right strategy and eliminate bad trading behavior or find out what mistakes you have made when trading. But whatever your trading strategy, the principle is just "take it". If the price goes up, take profit and sell. If the price goes down, take the opportunity and buy. If the price keeps going down and you don't have time to sell, holding is the best choice.

Having only a 1 strategy or a multiple one on which this doesnt really matter that much because traders/investors will really be that sticking into the ways or methods on which they will really be that able to make out some profits or lets say this is the way or method that they do gain profits on which it isnt really that bad on sticking out into this one. It all matters about on how to sustain yourself when it comes into this aspect on which we know that it will really be that much preferred if you do really have that kind of strategy on which you can be able to make use on with but of course we do know that not everything will be giving out that kind of assurance. Always stick on where you do find yourself that making money or income on which it doesnt matter whether it do come from 1 strategy or in multiple.  You are the ones will really be able to assess out whether you will be sticking or not. On the moment that you do acquire up such skills then its not bad to make out some consideration on expanding up your knowledge via learning up other potential strategies on which this serves as a back up plan just in case your main strategy doesnt work or really that having that kind of condition on where it doesnt work. We do know that there's no such thing about best strategy because market can easily fuck it up  due to its unpredictability or simply being random. You would really be that needing to adjust accordingly just in case you had made out some loses specially if the market do make out some unexpected movements on which this is where you do find out the relevance on having back up plans just in case your initial strategy doesnt work or did failed out.

This depends on the person obviously, we have seen plenty of people who use just one strategy and make a lot of money, we have seen people with multiple ones and make profit too.

The key in crypto trading is that everyone is different, so stop trying to give anyone a golden ticket and a way to make a lot of money because what works for you may not work for them, and if you are the one who is looking, stop looking for one method that would work for everyone and guaranteed success, try to figure out a way to make sure that you are dealing with a complex market here and the best thing that works for you could be something you need to combine a bunch of things together that makes it perfect for you and not good for others.

The strategy of the market also fluctuates and one cannot always rely on only one type of strategy in order to see results for their trading journey. Trading is very controversial and the more you learn, the more you’ll get to see and unveil more things about trading. One strategy can works best for you but that doesn’t mean it cannot be adjusted when the need for it arises. Keeping up with only strategy can make you lost on the current situations of the market and may worn out to start bringing loss again. The trading school is another school of thought on its own that requires you to be punctual always.

As a trader, we need more than one strategies because the market will always change and we need to adapt to the current situation. If you just depend on one strategy, you will difficult to follow the market moves and can not find when you can trade. If you can buy low and sell high, that will make a profit from that but with the unstable of the market, you will difficult to find the low price. The low price now can be lower in tomorrow so that is why you must adapt with the current situation and that is why you must have more strategies so you can moves based on the situation.

There is no strategy that doesn’t have losses, moving to multiple strategies it self is what makes one incure more losses. Personally about strategy I have contradictory opinion from yours, for me it is stick to your own trading strategy or plan as long as there is more profit than losses when trading with that strategy. When you encounter losses while trading with your strategy then it is best to simply just best to look at what brought the losses and then improve on that strategy and back test it again.

Sticking to one strategy is what most profitable traders do, if your are trading SMC stick to it, don’t jump to other strategies as this to me will simply just increase the Loss. The only time I advice a change of strategy is when the strategy itself wasn’t something you worked on you had just simply copied it and you are having more losses than profit then it has to go but for one that gives at least 70% wins then it is a strategy to stick with and a better risk management will help to maximize such profit and minimize losses

I believe every trader has his or her own strategies but generally I do not believe that there are traders who stick to a particular strategy because there's no way they won't lose money when the market doesn't go as planned and they will switch to other strategies to see if they can regain what they lost. There are so many strategies and a good trader will always have more than 2 strategies because some times you may encounter losses using your usual strategy but applying a different strategy may become your safe heaven until you see that you can take profit from your usual strategy. People shouldn't just focus on whether they hear they should try and read good books, learn from good traders before trading it helps to save a lot of stress and taking wrong advices.

Lol yeah. Back when I was seeing all these guys you didn't call them influencers you just called them scammers

I wish people would also correctly use these terms for all these socalled traders on social media. They are conmen and scammers, nothing more.

BTW affiliate is a bit different though. I have seen responsible affiliates. They tell you they earn something from the signup link. They tell you they don't even use it, its just for their site income.

What most people do not know is that most traders have strategies which they are using and not that they are changing the strategies. Traders do stick to the strategies that favours their trading. They are strategies and not just a strategy because it can not be one. Almost all of our trading plans are made up of strategies except few. No trader can have a single strategy.

I'd say where you find yourself comfortable, then stick to it. Trading is not about how many strategies you've developed and apply them into your trades, but it's all about the mastery and the profitability factor of the strategy you are using.

Yes, having more than one strategy is already hard. So let's not dwell with that. Focus on a single strategy, when it's no longer useful anymore, then try another one until you find one that will perfectly suit your trading style and attitude.

There's no problem with using one strategy as long as it continues to create you a consistent flow of income. What is not right is if that if you prefer and stick to use that single strategy even if it's not working anymore, that's just a waste of time, effort and money.

You need to develop another trading strategy, or prefer to have two strategies. One will act as your reserved if the one you are using will suddenly stop working and does not  make you profitable anymore.

in general, you should always have a backup strategy at least. if your strategy is a one trick pony, you are going to find yourself in real pinch once it stops working. (just like martingale in gambling, you keep winning until you lose everything)

trading crypto isn't all that great anyway imo (don't fall for all the trading shit you see on the internet, they just want to sell you courses), plus it's super risky. i read somewhere that only around 5% of traders actually make any money and it's not even life changing money.
statistically, you would be better off getting a good paying job and DCAing into bitcoin and holding it for long term.

I agree with you because when we see the bull run coming and at the time market is red we start to think did we bought the right coins, should we stick to them, or should we replace them with others even in lose, risk management is necassary and what does it mean and how should we react in this situation must be taught first.

Another scenario can be, I was into holding a coin not for long term so you can say I do long term trading, I buy coins in spot and wait for my targets and book the profits. I hold them until they give me profit does it mean I make lose mostly nope because I pick coins wisely  So, if I am into long term trading but now for the past few days I am thinking to do swing or short term tradinds even day trading although it's not my field but I manage to convince myself that I can lose the opportunity to make money from the way I made this far if I change the way (strategy). Just like you said.

PS: A friendly suggestion hope you won't mind, whenever you make topics, don't write them in single paragraph it's really hard to read them. Make it more friendly by adding some blank lines.

Especially if you're a famous influencer, you'll earn a lot of money.

Yes trading is full of risks even with 1 fixed/single strategy for me will not be profitable especially when the market is crashing, trading must have strong mental pressure... more leads to emotional or a lot of drain on the mind.

Simple Buy & Hodl is clearly risk-free and just waiting for the right time to sell it, more precisely investing in bitcoin.
But they want to get bigger and faster profits then take the road to futures trading.

The risky part of crypto trading is that it may not always be in your favour and you may lose more if you’re not sustainable in it. It is better to take some part of the profits from crypto trading and invest into bitcoin because of its less risk and high probability of earning more profits in the future when held for the long time. The market is very much volatile and trading needs you to be knowledgeable in order to be profitable.

Crypto trading is not a guess or luck game but requires you to learn and continue learning in order to be successful in it. Due to the volatile nature of the market, one needs to also have a shift in strategy because one strategy will not always work forever. A shift in the condition of the market may also affect the condition of strategy you were employing before. It is good to know the strategy that best works for any market conditions before applying them.

Investment with a same strategy can work for many people and in a long time like Dollar Cost Averaging. In trading, it is very different and one trading strategy can bring different results in different market phases.

Trading is not investment, not holding and different market phases with different trend, volatility will have different pressure on traders. Traders need to be very mobile or in other words, flexible with trading strategy. Make sure to use stop loss order, or stop limit order as prevention if a strategy does not work well.

I agree with the statement to focus more on one strategy in trading, because I think we all know how difficult it is to have and learn various strategies, having more strategies is indeed better but it is very complicated to learn and what happens later makes us confused in determining the moment.

Maybe you have heard this saying "1 move that is trained 1000x is much more deadly than 1000 moves that are trained 1x", so in my opinion it is better to maximize one or two strategies and master them because it can make it easier for us to find profit, because believe me that having too many strategies will only make us feel confused.