barjon
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What markets?
Just in general, different currencies, metals, stocks any market.
So how many trades do u recommend? 3 trades at once? 5 trades at once?
timsk
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You're destined to be a jack of all trades and master of none. In a trading context, this means you'll lose all your money. Focus on one market only (indices, stocks or commodities etc.) and study it to the extent that would enable you to deliver an hour long TED talk about to to a packed audience without any notes. If you do that, you'll probably find that the "multiple trading opportunities" you think you see don't really exist or, if they do, only with the benefit of hindsight.
The point of my question was what if u see multiple trade signals. For examples multiple trade signals on multiple currencies if I trade forex, multiple trade signals on multiple stocks if I trade stocks. Do u place multiple trades if yes how many 2? 3?You're destined to be a jack of all trades and master of none. In a trading context, this means you'll lose all your money. Focus on one market only (indices, stocks or commodities etc.) and study it to the extent that would enable you to deliver an hour long TED talk about to to a packed audience without any notes. If you do that, you'll probably find that the "multiple trading opportunities" you think you see don't really exist or, if they do, only with the benefit of hindsight.
timsk
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That depends on time frame. If you're a swing or position trader with trades that last many days to many months then, with practice and experience, managing multiple open positions is doable. If you're a day trader, juggling multiple trades simultaneously that may only last minutes will (note emphasis) end in disaster.
Assuming you're new to trading, I recommend you stick to one market, steer clear of day trading altogether and only open one trade at a time - two at the most - if they're running over a number of days/weeks. If you're seeing "multiple trade signals" left, right and centre, then your set up isn't anywhere near precise enough. Know your market, know the instrument(s) within that market and know your set ups inside out, and be sure to paper trade first and only risk real money when the paper trading is producing consistent results.
Tim.
barjon
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Tim is offering very sound advice if you are new to trading.
Quantt
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No offence, but to me, your are coming off as a new trader who has no idea what he’s doing, so until this changes, my advice is 0 trades would be the best answer for you and my recommendation at this time…
FranziskaSchulz
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I used to think like you and I found a question to that when I was a newbie and it was 7! So I had to trade until 7 trades! not less and not more!
But when I traded a little bit i found out that it is not working! I suggest you spend more time on demo accounts and then you'll find the answer!
Arnav Deshmukh
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It's better not to jump into all available opportunities. Instead, focus on a few good ones that you've thoroughly researched. Diversify your capital wisely among them, and make sure to manage your risks to protect your investment while aiming for profits.
javi
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The most important thing to consider is risk, most markets are correlated to the dollar if the dollar goes up whatever you’re trading will get crushed.
So first go open a 2 pane chart with the DXY and whatever you want to buy and see the correlation.
If you have 10 trades risking 2% each and the dollar rips you lost 20% of your account on one go.
So you’re not spreading risk, you’re spreading profit.
So first go open a 2 pane chart with the DXY and whatever you want to buy and see the correlation.
If you have 10 trades risking 2% each and the dollar rips you lost 20% of your account on one go.
So you’re not spreading risk, you’re spreading profit.
Agree. Risking 1-2% per trade helps in managing losses and staying consistent.
brettb
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I currently have 114 longer term positions open . 51 have closed for a profit.
My strategy sort of requires that I don't look at my portfolio. When I started messing around I lost a 41% profit from a takeover bid. Selling is also automated so I can focus on buying.
I keep track of stuff in Excel.
. 51 have closed for a profit.My strategy sort of requires that I don't look at my portfolio. When I started messing around I lost a 41% profit from a takeover bid. Selling is also automated so I can focus on buying.
I keep track of stuff in Excel.
