My best strategy is always to follow my own rules, no matter if the market goes against me, newbies are likely to break their rules and that is why they lose so much, for now my own rules are very simple:
1.- When I trade, I only put 3 trades nothing more
2.- If I lose the first one, I try to recover with the second trade and make a profit.
3.-If I lose the second trade, I try the third trade to recover and break even.
4.- If I lose the third trade, I assume my loss and do not insist anymore, because I am not seeing the market in the correct way, in that case it is better to leave until I have a better vision.
Topic: Be comfortable with your strategy! - page 6. (Read 1094 times)
Know what works for you and stick to it, that's 2 thing Ive learnt and still holding unto over the years. The fact that a particular strategy favours Mr. X doesn't mean Mr. Y would tell similar stories if he adopts the method, just develop on your own strategy and be contented
You can follow their advices as a newbie but once you already know how to trade properly, its always good to have your own strategy that can work with you anytime. Though, you should be more active on making your strategy and change if from time to time because the market grows and what works today might not work again so keep monitoring the market and adopt the trend.Some do rely fully on some people in regarding on their trades but nothing beats out if you do really rely on your own trading style.Dont get that affected nor intimidated on others analysis.
You could always create your own and whenever you do lost money then feeling of regret wont really be that much unlike on the other way around.
Know what works for you and stick to it, that's 2 thing Ive learnt and still holding unto over the years. The fact that a particular strategy favours Mr. X doesn't mean Mr. Y would tell similar stories if he adopts the method, just develop on your own strategy and be contented
You can follow their advices as a newbie but once you already know how to trade properly, its always good to have your own strategy that can work with you anytime. Though, you should be more active on making your strategy and change if from time to time because the market grows and what works today might not work again so keep monitoring the market and adopt the trend. Applying other's strategies isn't effective all the time so it would be better to learn how to deal with the movement of the market though it will take a long process of learning. You should know as a trader how to do the technical analysis so you'll know the steps that you would take basically the right decision on when to sell or when to buy. You could create your own strategy through your trading experiences.
At the beginning a newbie is only going to be able to rely on the knowledge of others as they are not experimented enough to create their own strategy.However once they learn more about the markets and about their inner workings then they will be able to create a strategy that is their own and which matches their personality and the goals they have set for themselves, the advantage of this is that unlike what happens when you are implementing the strategy of someone else you will know exactly why you are doing what you are doing, which means that when you are facing a situation of high stress, like a crash in the market, then you will not panic and you will be able to execute your strategy even during those difficult circumstances.
We often experience losses in trading because the market situation is not always in good condition.
That is the need for us to always look for strategies that can work well and help us make profits.
As long as we can keep looking and learning to make strategies, we will have the best strategy for us to implement that strategy based on the situation in the market.
There is no need to be afraid of failure because failure is a delayed success and as long as we have the will, there must be a way.
That is the need for us to always look for strategies that can work well and help us make profits.
As long as we can keep looking and learning to make strategies, we will have the best strategy for us to implement that strategy based on the situation in the market.
There is no need to be afraid of failure because failure is a delayed success and as long as we have the will, there must be a way.
Loss and profit of trading is based on the market.The trader should use the current strategy to get a profit, by buying at less price.Profit is only get by using the strategy. You can create a own strategy over a period.The failure of the trade should be used for the longer period to learn the things.When you learn from failure, it's enough to recover the loss. The next investment after the loss it's not a easy one, you may fear to do the next one. But surely you can win with the next try.
After realizing things coming from your own experiences, you'll be able to sum it up and use the system that really help you to
have a good growth with your trading.
With those many strategy and patterns, it's true that not all is for everyone, we can duplicate
but not to expect the same outcome from time to time, modifying and adjusting is how it works.
Know to pattern with your own system and live with it.
experience is indeed very valuable for our strategic capital. and of course at first we will feel frustrated by trying several strategies, until we find the one that makes us comfortable using it. after that we have to go deep into the strategy to be explored. it does take time to reach that level, but if we understand it, then we will be comfortable with our lives in carrying out that trading strategyhave a good growth with your trading.
With those many strategy and patterns, it's true that not all is for everyone, we can duplicate
but not to expect the same outcome from time to time, modifying and adjusting is how it works.
Know to pattern with your own system and live with it.
even when trying it requires patience and takes a lot of time too,
what is clear is that when we have found a strategy in trading that really fits, it will make us more comfortable
Being comfortable with your strategy doesn't mean that you shouldn't really learn what others are doing. Obviously get better at studying other people and learning how to make money as well. It just means that you should try to avoid using a strategy just because someone else is using it.
I personally try to avoid it as much as I could, and just study what they do and try to apply it to what I could do. Doesn't mean that you have to do exactly one to one what they are doing, but also doesn't mean you need to ignore everyone else. Learn what they do, study it, and then apply it to yourself if you think that it fits your own strategy or mindset. That’s how each strategy starts out.
I personally try to avoid it as much as I could, and just study what they do and try to apply it to what I could do. Doesn't mean that you have to do exactly one to one what they are doing, but also doesn't mean you need to ignore everyone else. Learn what they do, study it, and then apply it to yourself if you think that it fits your own strategy or mindset. That’s how each strategy starts out.
One of the few things I was taught while learning the rudiments of trading was, "stick to what works for you". OP, whatever that works for you is your trading play. This seems to be working for you. Stick to it. It doesn't matter whether others are using it or not. Once it gets you wins, stick and perfect on it. BTW, from your graphs you seem to be scalping too. For me, I consider anyone trading the 5m TF a scalper. There are people who don't have that temperament to trade on that TF. Yours sincerely is one of them.
After realizing things coming from your own experiences, you'll be able to sum it up and use the system that really help you to
have a good growth with your trading.
With those many strategy and patterns, it's true that not all is for everyone, we can duplicate
but not to expect the same outcome from time to time, modifying and adjusting is how it works.
Know to pattern with your own system and live with it.
have a good growth with your trading.
With those many strategy and patterns, it's true that not all is for everyone, we can duplicate
but not to expect the same outcome from time to time, modifying and adjusting is how it works.
Know to pattern with your own system and live with it.
I am wondering, how if my comfortable feeling in my strategy precisely makes me become losses because of the wrong strategy?
Should I still follow them because of the comfortable feeeling?
I think that I must revise the strategy and evaluate. Then manage again the strategy that really fits and works on us. This may not be easy because sometimes, trials and errors are needed and we can lose a lot of money. In this case, the proper strategy may relate to the codnition where we really feel suitable with the right strategy to always mostly get profits.
Should I still follow them because of the comfortable feeeling?
I think that I must revise the strategy and evaluate. Then manage again the strategy that really fits and works on us. This may not be easy because sometimes, trials and errors are needed and we can lose a lot of money. In this case, the proper strategy may relate to the codnition where we really feel suitable with the right strategy to always mostly get profits.
To have our own strategy is too hard at first as we don't know yet and are afraid if we just lose. That is why we have to see how the others do their trades. Besides, we do watch online tutorials and make use of this to gain some ideas, great ideas, we do some mirroring of what they do. This is the beginning of creating our own and we do this for the sake of wanting to be like them.
It is fact that believing in ourselves, our strategies will drive us to a better result.
It is fact that believing in ourselves, our strategies will drive us to a better result.
Applying other's strategies isn't effective all the time so it would be better to learn how to deal with the movement of the market though it will take a long process of learning. You should know as a trader how to do the technical analysis so you'll know the steps that you would take basically the right decision on when to sell or when to buy. You could create your own strategy through your trading experiences.
Yet, mentorship is quite good but their knowledge and skill can't be copied fully and even how many years we are in their side it is certainly we can't like them coz there are so many factors that could affect it.*decision making
*mindset
*emotions (very common)
No matter what we do, even having the toughest trader in the world will teach us still, it won't guarantee our success, especially in the time that we do our own alone.
You can copy and use strategies that work from other traders but this could never assure that it will work on us. That was because we are too different when it comes to decision making and this can never be copied by anyone.
It is true. Using successful strategies from others never guarantees to be successful as well with us. Each trader must have different knowledge and experience, this will have a big role in making every decision. Each trader also has a different character and nature, this is another factor to make a different result between one trader and another trader. So, it is very difficult to have the same result although the strategies are very good to apply in trading.1. Emotional aspect
2. Reaction Aspect
3. Thinking aspect
4. Skills aspect
5. Knowledge aspect
6. Intuition aspect
These are just only few of the things which do affects traders
success or profitability.
Its a scary thing as well, doesn't it feel scarier to follow others? I mean you are putting up your own money in that case and you are trusting someone totally stranger to you and you are hoping that it would work out for the best? I do not believe that it would be that easy, it should be a bit harder to throw in your money just because someone said something. Obviously you are going to end up with a lot of risks involved, but that doesn't mean that we should be listening to others just because our own trading is risky. Learn how to trade, and try to be better yourself instead of trying to find "influencers" that will show you what to do.
Applying other's strategies isn't effective all the time so it would be better to learn how to deal with the movement of the market though it will take a long process of learning. You should know as a trader how to do the technical analysis so you'll know the steps that you would take basically the right decision on when to sell or when to buy. You could create your own strategy through your trading experiences.
Wow you have been very busy with the crypto trading out there. That’s good to see how you are good at trade patterns through technical analysis. I’m not sure why are you failing but things could be due to current situation of crypto market, even share market that’s being hampered due to war outbreak. But if you failing in the long terms then there could be incomplete plotting of lines and graphs. Idk, I am not regular trader but with what video tutorials I have seen we have to keep practising all the time and keep improvising everything. That’s how perfection will certainly come out. Moreover, you may wanna change the whole methodology of using the data.
This is the harsh reality of trading with technical indicators, you will not get perfect results with the "Holy Grail" strategy no matter how experienced you are. Almost all strategies have deadlines, don't push your limits so far. Everyone has to be careful with the expected downtrend and don't keep chasing their losses. Experienced traders even make mistakes, novice traders have to be careful about potential traps by both the bull/bear side.
Yes, I think it’s good to learn many strategies as possible. It is going to be helpful. Using one strategy doesn’t seem quite as you might have to switch things up at some point, and you would see the need for having a different strategy.So, it’s good to have different strategies and know when to apply them. If you have to continuously rely on just one, there would be a time when it wouldn’t work out again and it becomes a problem, and as a trader it would be really frustrating. So, learn as much and know when the time is right to get to the next strategy. But I would commend the op on his level of discipline, that’s something most traders lack these days.
This is the harsh reality of trading with technical indicators, you will not get perfect results with the "Holy Grail" strategy no matter how experienced you are. Almost all strategies have deadlines, don't push your limits so far. Everyone has to be careful with the expected downtrend and don't keep chasing their losses. Experienced traders even make mistakes, novice traders have to be careful about potential traps by both the bull/bear side.
Of course no trading strategy is perfect to beat the market always, this is not possible because the market goes up and down and so no matter the robot used, it can not catch all the pips up and down. So newbies have to understand this in their trade. They don't need to expect that trade is 100% profiting all the time, some days are for profit and some losses, don't be greedy when you are on profit lock it up or exit with the little profit.
Most of the time we are at a disadvantage in trading because the market conditions are not always good. We will always use strategies that will not cause us any loss and will help us to talk until we can build strategies on market conditions. We will have the best strategy to implement those strategies based on the fear of failure and we have to overcome all fears and trade strategically.
Wow 
, that’s really nice. It shows a high level of discipline. When I was a noob I also found it difficult to maintain a strategy, because I always trying to trade every time so I can steadily make profit from the market, but instead of profit I was the one who kept losing my money , because my mind was always totally messed up since I was trying to do too much. So I had to slow it down, and applied patience. I learnt that it is not good to be in a hurry in this market. Like you have said, you never trade except when the time is right for you to start trading.
This is usually a challenge for most of us and even till now I still feel the urge to trade when I am not supposed to be trading. Some of us would get in at the wrong time and even after losing, we’d go for a revenge trade and lose. It is all wrong. We all should learn to focus on a good strategy and things will start working out for us.
, that’s really nice. It shows a high level of discipline. When I was a noob I also found it difficult to maintain a strategy, because I always trying to trade every time so I can steadily make profit from the market, but instead of profit I was the one who kept losing my money , because my mind was always totally messed up since I was trying to do too much. So I had to slow it down, and applied patience. I learnt that it is not good to be in a hurry in this market. Like you have said, you never trade except when the time is right for you to start trading.This is usually a challenge for most of us and even till now I still feel the urge to trade when I am not supposed to be trading. Some of us would get in at the wrong time and even after losing, we’d go for a revenge trade and lose. It is all wrong. We all should learn to focus on a good strategy and things will start working out for us.
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