Thread: How many strategies does one need?

Many egies does one man need? And many currencies is enough?

Originally Posted by ;

quote Regrettably the only way to not lose money is not to play. .

That is not correct brother

knowledge is win!
Learn every thing. Learn all basics, find out all 2357 egies.

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It is always best to know as much as you can, however even one effective (focus on successful) egy is enough.

Originally Posted by ;

How many egies does one person need? And currencies is enough?

Price can only do one of three things,

1. Breakout

2. Retracement

3. Reversal

build a strategy, arround ONE of these, and go from there if you're happy, you dont want the other two
if you want to be versatile. . Build one arround every one of these

PT,

which is not true. Price can do all those things .

Pair is in an uptrend and price breaks out to the downside past the last high low (breakout).
Can it be a retracement? Is it a reversal? We don't know yet. Its definitely a retracement and might become a reversal.
So we have a breakout - we have a retracement - perhaps we get a reversal as well.

I would say to build systems around trend and range.

The very best egy is to have no egy.

How many egies does one need?
This is somewhat like the old argument - expert vs generalist. If it comes to trading I say BOTH! You have to be generalist if you would like to survive long term. You have to have the ability to adapt and transaction during all possible market conditions. And always be willing to learn new tricks.
However, you also must be a professional if you would like to accomplish any meaningful results. You have to concentrate on a single kind of one framework trading, one style and one asset class. FOCUS! Thats the secret! If you attempt to mix different styles and jump to another you will never achieve outcomes.
Focus, focus, concentrate, very important!
You know that the sun light does not seem very powerful, but that's because it's spread out equally. However, you take glassfocus the photons in one spot and you'll be able to start fire. Should you choose very big magnifying glass in the center of hot summer day it's possible to melt nearly anything, rock, iron....doesnt matter (it is possible to reach over 3400 degrees C).
You take that principle, and imagine that the sunlight is the mental energy, knowledge and experiance you have. Should you concentrate these resources in one place - you will achive results! If you are distracted and not concentrated - you will achive nothing!

Originally Posted by ;

You're asking the incorrect questions... 1 egy on 1 pair creating 1 pip per day is enough to become profitable...

Quite intriguing approach. Agree, if the juice is worth the squeeze. All depends on depo's dimensions and also the time . Isn't it?

Originally Posted by ;

How many egies does one need?

Meaningless question.

If you run 10 egies simultaneously their net effect may be considered as one egy. The kind of question which is pertinent to trading would be regarding a trading egy's principles.