"I’m trading 5 different strategies."
"Ok. Why?"
A trader came to me a while back.
He had been trading for 3 years.
"I just feel it's the thing to do."
"Got it. Let me ask you. Do you all of these strategies make you money?"
"I don’t know."
"Ok. So why are we trading 5 different strategies?"
It was like reality had just smacked him point-blank in the face, all from a simple question:
"Why do more when you can do less?"
He had never really thought about it.
Most traders just keep adding complexity to their strategy without ever thinking about why.
And they end up working lots and making no money.
They just follow whatever the latest trading fad or trend is.
“I just need a new orderflow strategy, then I’ll be profitable!”
They do this without ever asking themself, how do I know if this actually works?
You don’t need multiple strategies.
You don’t need complicated strategies.
You don’t need to trade the latest altcoin fads.
You need one strategy, one timeframe and a trading journal.
p.s the trader journaled and realised only 2 of his strategies actually made him money. removed 3 of them and was profitable...
