Topic: Is it best to have a personal trading strategy? (Read 2393 times)

If you tested your strategy since years and you have got average result, then it is okey to use it as your primary strategy if you want. Then day by day, You'll face new situation and gain many experiences and strategy will be better than before. But strategy need to be tested before apply, which cost lots of years to invest. So it isn’t bad to buy signals from vip groups. I do that but dyor! Don't get scammed

Yes, that's exactly right, not because the strategy works for someone means that you can use it and have that same outcome,
it's better to try to see if there're adjustments that you need to work out.

Or, it's also possible that maybe the strategy is not fit for your personality most of the time. People think that they can have
a working strategy by following what others are doing.

Not knowing the risk, they ended up losing a lot before they realize what's they've done wrong.

It's also not easy to find a strategy that really suits us because it's necessary to try,
it takes time and an exact process to find a suitable strategy,
like that indeed what we think can work effectively is not necessarily the same thing will happen to other people.

Trading preferences cannot suddenly immediately trust the strategies of other people or the same friends around you because everyone's investment goals are different and the targets are also different. You must first know your trading strategy and what your trading goals are like. That way later you will be able to feel for yourself by implementing your trading options according to your strategy, you will be more responsible for each of your trading decisions in the future.

In essence, I think the most important point you can make is to do your research before trading. Too many people just buy because of the hype or because a YouTuber tells you to buy without them doing their research, this is very dangerous for your finances. There's nothing wrong with trying to listen to other people's strategies to become your reference or comparison when making decisions later when trading.

Sure, everyone may have own trading strategy because everyone has a different style and goal in trading. Some people trade daily, they want faster profits. While others may not trade daily and don't hurry to take profits. So, their goals and style are not the same, they need a different strategy.

By the way, it is true that a certain strategy may work effectively with us. But it may not work effectively to other people. However, I don't think there is a strategy that can harm people as long as the people know well their goal.

Common mistake for most individual or trader is that they are really that rushing up things to learn and this is why on the time that they do engage on then they are really that susceptible into lots of errors and mistakes.Although we do know that mistakes and errors is common or normal but we do really have that so-called a certain extent or level on which that it could really be that possibly be lessen out if you are really that
mindful when it comes to your trading outcomes and decisions on which it is something that you should really be mindful with. Its true that having your own personal trading strategy is much more better
compared when you do keep  yourself that too relying into others or simply copying on what they do have.

Also, when you do have your own strategy then you wouldnt really be having that kind of feeling of regret on the time that you would really be losing money because of your trades,compared when you do
follow someone and make decisions on someones analysis which it is really that regretable.

Looking at the strategy aspect, not everybody that need to have there own strategy, we can always buy different strategies that we like from the market or from pro traders that are willing to sell there own strategy to the public to earn some cash. Since not everyone of us can develop there own strategy, I always look to the market or some sites where I can buy trading strategy to test and use in the market to make extra profits for myself.

When I started trading, I never have my own strategy, I was using the strategy that my tutor thought me in the market making some few profits but for the quest to make more money, I decided to look for other strategies that can increase my profits since loses is part of the game.

 Sometimes I do make profits and lose it back to the market which is one thing all traders want to avoid so that the little we earn from the market will not be given back to the market. Those who know this do devise a way to avoid given out the profits they made so far back to the market. This is part of the complicated part of trading that we need to keep our eyes on.

Do not be in a rush to earn, Should learn before you earn. For me, I don't suggest such because that is going to cause a distraction in their learning process, A trading strategy is just like a knife and hoe used in farming and it is necessary for our trading journey.
The person whom you copy from or trades the signals once sacrifices his time to learn and you too should do the same.

Acquainted with your personal trading strategy, would be difficult at first but as times goes by, it becomes more smooth and convenienable for trader, but I would recommend signals and copy trading for newbies, because this is not something we would just start overnight, we have to plan out our trading strategy to match the market. Ofcourse it's a good to have a personal trading strategy in the space. I study most strategies specifically the ones from pro traders, knows their every move and sometimes follow CPI news.

It is a good step to seek learning from every custom market we enter and then create our own strategy. Using your own strategy will be better than looking for other alternatives such as following several signals from a group whose percentage accuracy cannot be ascertained. We are a company and our mind is the boss who will manage all the policies in it. At first I didn't realize that in trading we cannot depend on other people, I mean other people's knowledge and then we follow it. When I depend on several signals in one of the groups that I follow, for some reason I always experience losses, but when I try to do it myself, I can indirectly reduce the level of losses with several things that I shouldn't have done.

In addition, it would be better for traders, especially beginners, to use their own strategy, because indirectly you can find out the advantages and disadvantages of your strategy, you will know when you have to enter the market and when you have to leave it when you know that it is not the right time. appropriate. When you get a profit you will know what caused you to get a profit and when you get a loss then there you will also know that you cannot do the same thing so that the loss will not come again. The bottom line is that the best decision is within you for the opportunity to start trading.

Absolutely, because in trading you are your own boss. Which also means you are the only person accountable for your own actions. If you don't set rules, systems, and strategies in play. You will not have any guide to where you are going or what you want to achieve trading. You are the only person who can restrict yourself. It's your own approval and your own actions. That's also how you build the discipline required in profitable trading.

It is better to have a personal trading strategy, as it will give us a greater chance of success. I always trade using personal trading strategy, it helps us to make right decisions while trading. And it increases the success of trading. For the past few years I have been trading using trading strategies, and I have managed to own a good amount of money. In my opinion everyone should have a personal trading strategy. This will help us to earn good amount of money from trading.

I had to qoute you because I love how straight  forwarded you were answering the questions but I wish  to know if you think having a personal strategy  at some point guaranty some sort of profits because I personally don't  think so.

One thing you must know is that, there is a bug difference between trading on demo and trading on a real and live account.  I've always believed that no matter how good you are with trading on demo especially  as a newbie, there are still great possibilities of breaking alot of the rules and principles you might set before starting on a real account and this happens most times because people trade with emotions and very high expectations and relatively  very low capital and expect to make all the money their imagination  can think of and hence leading to blowing of account.

Don't know if you've heard of copy trading but so many people are already engaging in this without wanting to bother themselves with all the stress of reading charts and getting a strategy.

It is wise to have your own strategy cause trading is highly depend on it. technical & fundamental analysis, money management, buying positions, all are depends on strategy. The more perfect strategy you have, the less possibility for your assets to be lost.
So if you find out better strategy which is better working then previous one, then feel free to replace it with new one. Cause thus your Strategy will be more effective in upcoming days.

It's on you I get your point. There are traders who are willing to jump right away and try some luck if they will earn from this business,
they are not going to look for any experienced traders to follow.

They are just going to move forward and will try everything. If luck permits, then they will gain. If not, then it will be charged to experienced
and the next thing to do is to decide if they will continue or they will stop and forget about this market.

Yeah, this is why its really that impossible that you wouldnt really be able to make yourself some strategy later on on which it would really be something that you would be thinking on the time that you would
really be gaining up some knowledge towards trading or simply on the time that you would really be getting some experience and knowledge on which you would soon realize that you would really be making
your own ways on how to trade up with this market. It does really depend though on a certain individual since not all would really be that sensible or mindful towards their actions on which it would really be just
that normal that they would really be having those thoughts that they would be just simply relying into others call and would be following until in the end if you are really that lazy enough but if
not then you would really be thinking up ways on making things for the better.

There are some situations where someone can just hear about crypto trading for the first time and be ready to go into it without even having anyone to teach them; at that point, they may not really have or see any experienced traders to learn from. So, sometimes there is no really experienced trader to learn from; the only thing to do is practice on the Demo account, if the trading platform they are using has a demo section.

By doing practice, you'll be able to familiarize yourself in what are the possibilities and what can you do to avoid making mistake,
you'll be able to learn things and you'll be able to be ready when you step your foot inside trading.

I go with the idea of watching and following some experienced traders. They can give you good hint in performing your trade, might not
have the same outcome, but you'll be able to learn from how they execute their trades.

It's important to take time and not to think that it's an easy journey or a quick way to earn money.

therefore it is important to gain trading experience from a small capital first. some mistakes i race won't be a problem as long as it cultivates the skill of the merchant.
those who are currently great traders are also not without faults in the trading strategies they used in the past. traders who learn from mistakes and correct them, they can get success in the future. every beginner of course needs more experience to get better.

I think there are several strategies to follow in trading. Not everyone can make profit from trading. New traders should always follow some rules. First of all new traders should understand about trading and then start trading with small amount of money.  In the new situation, if you start trading with wrong decision without understanding, then there can be many big problems.