Do you think it’s best to master and only trade one pattern? You would trade less frequently but you would size in heavier when you see your setup. Or to be more flexible and have multiple setups you trade, you trade more frequently but with smaller size.
I try to master one trade before moving on to the next. I'll let you know when I master the first one.
Position size of a trade is not determine by if you have one trade pattern signal or multiple trade patterns. Your position size should be determine by the probability of success and market conditions. Yes, its best to master one trade pattern, one trade strategy or whatever prior to trying to master another. The more you master, the more different types of price actions or market conditions you can trade. wrbtrader
check my thread 'trading is easy'... there is no such thing as 'pattern' if you are referring to chart patterns.... there have to be background stories considered.
If you are not a full-time trader, you can stick with one. If you need to make a living every week and every month, you need tools that work in all market environments.
Stick with something that gives you a quantifiable edge. And good luck finding that with a chart pattern...
It is possible, but you need to keep it simple. I use the same methodology for CL, ES, NQ and GC. It works with all of them. I use tick charts, an EMA and ADX/DMI. However, I do vary the tick value depending on the market
Find edge, even if only the 1 cause there hard to find, that last, and milk it hard and if you find others along the way then milk them too. 1 is enough, if full time then the urge to make more, makes you try other setups which = doom, I'm back to my 1 setup and doing fine again.
You need a system if its only one pattern or setup that trades frequently enough for yourself or you'll find yourself deviating from the plan. Theirs an old saying " If the only tool you have is a hammer, every problem looks like a nail". Size is dependent on your risk. Backtesting and viewing results like profit factor, W/L ratio/ sharpes ratio, MDD, etc can help determine risk.