Be comfortable with your strategy! - page 8.

cryptomaniac_xxx

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Quote from: danherbias07 on February 24, 2022, 05:31:53 AM

So true. Having different strategies sometimes confuses your decision-making. So I would rather pick one, focus on it, endure the losses and hope something good will come out in the long run while you are comfortable with it.
I think this is also where new traders take a lot of time. Without a full decision on what trading system they want, they keep on jumping from one strategy to another that's prolonging the profit-making goal.

It really take some time though, there are no shortcuts on the contrary, you really need to endure losses in the beginning to learn the process and gain the experience.

Experience is a good teacher and it you have it under your belt, then it will help you a lot in your decision making and you are not going to second guess what strategy you will use in whatever environment we are in, whether bull or bear.

danherbias07

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So true. Having different strategies sometimes confuses your decision-making. So I would rather pick one, focus on it, endure the losses and hope something good will come out in the long run while you are comfortable with it.
I think this is also where new traders take a lot of time. Without a full decision on what trading system they want, they keep on jumping from one strategy to another that's prolonging the profit-making goal.

Jating

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Quote from: stepwilli on February 24, 2022, 01:01:30 AM

There is no such thing as accurate strategy because if there are then nobody will lose but nobody will share that accurate strategy for free and I do not think the person will sell it when he is already making a good gains with it.

Right, there could be strategy that work on certain individual, but not for everyone. So it's up to us to find what is the best for us. There is no one size fits all in crypto.

Quote from: stepwilli on February 24, 2022, 01:01:30 AM

Applying all possible strategy is nice tho because this can give you a different experience. You may lose but at least you already tried everything not unlike us that our knowledge is still limited because we do not take the time to try every other things in crypto. Sometimes it needs time to know if the start works good for you and you wont know this is you will quickly navigate on the other start and do the same thing.

In the beginning, yeah, this could be a good approach. But if you have gain enough experience already, it's time to filter out which one fits you and which one doesn't. At least you know where you are coming from and it will give you a good chance to win and be successful in the end.

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Quote from: Peanutswar on February 24, 2022, 12:17:02 AM

When I do make a trade I always have my cheat sheet which consists of a lot of information related to the candlesticks and the market graph I always do this to make sure that my trade becomes successful of course always step a Stop loss and take profit to make sure still always to the plan. Don't envy your strategy always stick to your strategy also learn from your mistakes and other people.

You have a great strategy out there, once you used to candlestick you wont need your cheat sheet again because any information relate to candlesticks is already inside your brain. Many people start with different strategies but when their strategy is useless they feel ashamed about their strategy and in the end the following people succeed in trading and hope for a great outcome but end up badly.

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Quote from: traderethereum on February 24, 2022, 12:02:35 AM

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.

If we are experiencing frequent losses in trading, that only means that our strategy is not working so we have to explore with another strategies that have potentials to succeed until we come up with the best one that works on us. And it doesn't mean that if that strategy works on him, it will also work on you. We all have different approach when it comes to trading so we cannot assure that we will get the same results. And one thing is certain, you don't have to stick into a single strategy for long term as most of the time strategies also loses their value, you need to be flexible so you can start to upgrade your strategy and still win your trades.

stepwilli

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There is no such thing as accurate strategy because if there are then nobody will lose but nobody will share that accurate strategy for free and I do not think the person will sell it when he is already making a good gains with it.

Applying all possible strategy is nice tho because this can give you a different experience. You may lose but at least you already tried everything not unlike us that our knowledge is still limited because we do not take the time to try every other things in crypto. Sometimes it needs time to know if the start works good for you and you wont know this is you will quickly navigate on the other start and do the same thing.

Peanutswar

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When I do make a trade I always have my cheat sheet which consists of a lot of information related to the candlesticks and the market graph I always do this to make sure that my trade becomes successful of course always step a Stop loss and take profit to make sure still always to the plan. Don't envy your strategy always stick to your strategy also learn from your mistakes and other people.

traderethereum

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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.

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Quote from: Oceat on February 23, 2022, 06:27:41 PM

Now, this is what I call experience, trying everything to know which is suitable for you and OP did find his own strategy. For newbies it might not be good especially if you have less fund but it's worth a try just put a little amount on every trade to test which one would suits on you. And just like OP be comfortable if you are winning already but if you want to try different strategy again then feel free to do it but always be cautious on everything you do, always test the water first.

You will not find a single strategy effective or productive unless you never start trying it in your trading experiences. As trading results could be unpredictable due to market's volatility, so one strategy might not be able to work again with your next trade so this is the reason why you have to build not only one but two strategies in preparation in case your winning strategy does not work anymore. But if you are still making profits from your own strategy, then continue using it as there is no need to change your strategy unless you are already experiencing frequent losses from using it.

Finestream

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Quote from: DoublerHunter on February 23, 2022, 06:51:31 PM

Quote from: Ararbermas on February 23, 2022, 06:25:38 AM

~snip~

Stop assuming that having a lot strategy can give you a lot of money as well because that's not true!!

^ Definitely right there is no strategy that can do that.
Apply different strategies that you have and combine them all or choose which is the best for you that has an accurate result, you can also try the demo trading first if this strategy will work out but believe me, you can't use a single strategy multiple times. However, the market price is unpredictable and it is volatile which is we don't know the exact direction of the price.

You can use all the strategies you want but don't expect that all will work on you. You still have to choose which one is most effective as trading strategies can be varied as there are different market conditions and price levels. But honestly, successful traders are only using one or two strategies as there is no need to utilize a lot of trading strategies that aren't helpful at all. And for sure, you can't master and be comfortable with using numerous strategies so you have to focus on one or two to master it. You can read it here further why we have to use only one strategy:https://www.thebalance.com/traders-master-one-strategy-before-learning-others-1030881

DoublerHunter

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Quote from: Ararbermas on February 23, 2022, 06:25:38 AM

~snip~

Stop assuming that having a lot strategy can give you a lot of money as well because that's not true!!

^ Definitely right there is no strategy that can do that.
Apply different strategies that you have and combine them all or choose which is the best for you that has an accurate result, you can also try the demo trading first if this strategy will work out but believe me, you can't use a single strategy multiple times. However, the market price is unpredictable and it is volatile which is we don't know the exact direction of the price.

Oceat

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Now, this is what I call experience, trying everything to know which is suitable for you and OP did find his own strategy. For newbies it might not be good especially if you have less fund but it's worth a try just put a little amount on every trade to test which one would suits on you. And just like OP be comfortable if you are winning already but if you want to try different strategy again then feel free to do it but always be cautious on everything you do, always test the water first.

Johnyz

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Your strategy should be more flexible, if its not working anymore then you have to create a new have because you can’t stick to only one strategy that could hurt your portfolio, you must always go for a good strategy that can give you the best result. Be confident with your strategy, that’s fine you just need to understand that change is inevitable, so you must also know how to adopt.

Findingnemo

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There is no 100% successful strategy in the cryptocurrency trading so stay in your risk appetite level but not only into your comfort zone there is a bit difference in it. More longer you're holding then strategy becomes easier since the only strategy that we need is keep holding until the price increase.

AakZaki

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Don't completely blame the strategy you do, but your psychology and also the technical analysis you learn. Whatever strategy is used if you can maximize it well, then the strategy will work well. Losses are certain, but minimizing losses is very important to do. The scalping method you use can be successful if you do it right and read each candle well. keep trading and learn what works for you.

blockman

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In any strategy where you're making money and becoming stable, you should grow there and stay. It's true that not all strategy works for everybody. Strategy for those who are solid in TA won't work for those who do FA. It's always the other way around and whichever makes you better and you're improving there, you should accomplish it until you find yourself no longer effective with that strategy. Whilst for the rest that are not really into trading, HODL is the best strategy and the most comfortable to do.

maydna

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I call learning by doing because it really helps us find strategies that work for us. We can try other people's strategies but keep in mind that they won't necessarily work if we use them right away, and maybe we'll have to figure out how to modify them so that they work for us. It will take a lot of experiments to find one that works for us, but it's something worth trying until we find one.

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Quote from: GreatArkansas on February 23, 2022, 08:45:04 AM

You know, "NOT TRADING" is also the best strategy sometimes.
Like, it's not all of the time you can trade like short it or long it. It is one of the strategies I am using too.

That is just it, sometimes you just have to not trade and only watch the market. Some people are swing traders and they may open trades for a week or two, when such people close trade, they may wait again until the price dipped or increased very well.

Quote from: GreatArkansas on February 23, 2022, 08:45:04 AM

Another thing is sticking with your strategy, why? Because if you stick to it, you will master it. Remember that not always on trades are win, that's why risk management is there or the stop loss to prevent you from losing more, and always remember that there are a lot of trade opportunities coming.

About stop loss, I have used it before, it has been a great disvatage for me, but it can be very important in high leverage trading.

GreatArkansas

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You know, "NOT TRADING" is also the best strategy sometimes.
Like, it's not all of the time you can trade like short it or long it. It is one of the strategies I am using too.

Another thing is sticking with your strategy, why? Because if you stick to it, you will master it. Remember that not always on trades are win, that's why risk management is there or the stop loss to prevent you from losing more, and always remember that there are a lot of trade opportunities coming.

Ryker1

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Well because there are no strategies that have an accurate result --strategies still predicting the market price either it is technical or fundamental strategies. Speculations will remain speculation and nothing will change and you are right ^{[-not all strategy is suitable for us-]} on this statement. However, we should be comfortable of what strategies we use and it should always focus our goal and also have a trading plan. That is very important because when our strategies will not work in second attempt, it is better to find another one that it seems have an effect in making profit in trading.

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