In today faq, we have a question from one of my students asking me how I manage to use different strategies at the same time.
Below is the question
How do you applied your strategy to a chart when you have multiple strategies on hand?
I guess this must be one of the common question among readers and students of my course. Therefore I will like to use this post to address this question.
First of all, I must let you guys know why I have several strategies on hand to trade.
If you take a look at the market, you will see that the market will sometimes move sideway, sometimes in a trend while sometime in a reversal. Do you think that one strategy can trade all these market condition?
The answer is obviously NO and that is why I start to formulate different strategies that can allow me to trade in different market condition. This is to make sure that I will have trading opportunity no matter which market condition it is now.
Back to the question on how do I apply my multiple strategies on a chart.
You can’t apply all the strategies on one single chart as it will be very messy with all the different indicators and setup. What I do is I open different chart and then apply one strategy to one chart.
When I look at my computer, I will go through one chart at a time to see if there is any trading opportunity.
However for those of you who are new to my course, I always advice you to focus on one to at most two strategies at a time. After you manage to make consecutive months of profit with the strategy/strategies, then you move on to the next strategies.
As long as you stick to what I teach you, you will definitely be able to make consistent profits in trading like me.