How Many Strategies Must be Understood?

Posts: 52 · #1 - September 12, 2022, 10:50:26 PM

As a beginner I already know we must have a trading method. Everyone's trading method is certainly different.

To become a trader who can have consistent profits, how many strategies must be mastered?

Will more strategies bring us consistent profit?

Please answer

Linkback: https://www.forex.zone/forex-education/29/how-many-strategies-must-be-understood/3916/

Posts: 3953 · #2 - September 14, 2022, 10:43:21 AM

For me, we understand enough one system or just one trading method, because it will shorten the time and energy of KTA for learning and practice

Posts: 175 · #3 - November 15, 2022, 08:51:32 AM

I think just one system must be understood

#4 - **Today** at 10:20:20 PM

Posts: 160 · #4 - November 17, 2022, 04:02:36 AM

We recommend that you just learn one system until we are master

Posts: 2167 · #5 - March 01, 2023, 10:46:08 AM

In forex trading, there is no fixed number of strategies that a trader must understand. Traders should be familiar with multiple strategies, such as technical analysis, fundamental analysis, and price action trading, to make informed decisions based on market conditions. Ultimately, traders must choose the strategies that work best for them based on their trading style, risk tolerance, and market conditions. Familiarity with multiple strategies is essential for traders to be successful in the highly volatile and dynamic forex market.

Posts: 3553 · #6 - March 15, 2023, 09:27:17 AM

If I think you just understand one strategy, and that you focus on as a weapon to generate profits in the forex market.

Posts: 2167 · #7 - March 16, 2023, 02:27:18 AM

In forex trading, it's not necessary to understand a vast number of strategies. Instead, it's better to focus on mastering a few strategies that align with your trading style and risk tolerance. This allows you to develop a deep understanding of the strategies you use, making it easier to recognize when market conditions are favorable for trading. It's also important to remember that no strategy works 100% of the time, and being able to adapt and adjust your approach as market conditions change is crucial. With a few effective strategies under your belt, combined with proper risk management and discipline, you can increase your chances of success in forex trading.