Topic: Is it best to have a personal trading strategy? - page 13. (Read 2419 times)
Thank you so much, but I was also trying to discuss this very topic with someone (a senior trader), and he told me something about copy trading, that even people who do mostly copy trading also have to take out some time to, first compare the works done by this traders, they wish to copy and by so doing, they're also making research indirectly, as to which trader they would want to copy for more accuracy and profitability.
Trading isn't actually for lazy minded people, as it requires a whole lot of research work, even while doing copy trading and why making those researches, the possibility of figuring out what works for you it's been achieved. And if at some points your strategy doesn't work, then there is no need continuing with such strategy, because the market is volatile and changes are bound to happen and as the changes happen you're expected to move with the trend.
That is what you always need a strategy owned by you where you manage risk and learn by the experience 😅 how to trade. I would like to say that if you don't own a personal Strategy then you are not a good trader all you need is Strategy works for you where you won't blame any signal provider. Signals sucks as short term profit and lead to a Major loss.
Having a personal strategy would be beneficial because knowing what you want and how you are going to execute this idea so that if the strategy doesn’t work out with the current market, it is only you who would be responsible for it in these times a thing, it’s better to have that kind of acceptance every time you have a loss.
Personally I’m using a trading bot that uses an optimized strategy and have been tested by multiple users, which is already a great benchmark. I think what you need to do is that you have to have multiple strategies for different markets so it’s better to determine where and what market are we in and then decide from there.
Personally I’m using a trading bot that uses an optimized strategy and have been tested by multiple users, which is already a great benchmark. I think what you need to do is that you have to have multiple strategies for different markets so it’s better to determine where and what market are we in and then decide from there.
Having a personal strategy to me isn't just the key but the ability to stick to it, is. I have been trading synthetic indices for over 6months and I feel it is better to have a working personal strategy and keeping to it, even at the days and times of loss.
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity and if you really keep to a particular strategy that worked for you even when it seems it's failing you later on and for how long do you stick to this strategy?
Yes you should have your own trading strategy because without that for sure you will just wander on exchange where you are not sure on what important things you need to execute. Also if you think following what others do like listening to trading coaches is enough for you well maybe you are in the wrong path because for sure this will not sustainable for you because you didn't learn anything from them.I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity and if you really keep to a particular strategy that worked for you even when it seems it's failing you later on and for how long do you stick to this strategy?
So best to have self study and learn to trade on your own.
If you do not have a trading strategy, how would you then make profit consistently?
There was a time I blindly traded on deriv Dtrader app and I made over 2k dollars in less than 48 hours, let me say out of luck, without having a personal strategy or using any strategy from anyone. Though I started with a $100 account which gave me an edge.
It is precisely those who do not have a personal strategy in trading are those who enter the world of trading carelessly.
Having a personal strategy in trading will not guarantee consistent profits but it will allow us to learn every mistake made and be disciplined in trading so that it can reduce losses.
Having a personal strategy in trading will not guarantee consistent profits but it will allow us to learn every mistake made and be disciplined in trading so that it can reduce losses.
Yes, and it pretty much apply to any other skill/profession/business. If you figure out your own (working) strategy and if it's actually the case that only you or a few number of people use the same (working) strategy, then chances are you can profit from it handsomely.
that's pretty good indeed. every person or business person does have a strategy for managing a business to make a profit.but in crypto trading, is it all doable? I mean, some traders have almost the same way and technique of doing their trades. like what can be learned in trading.
is it possible that this personal strategy is just a modification of the technique in trading, which is considered the most appropriate for a trader?
I have only one strategy to follow - buy low and sell high. Beyond that you are only increasing your own risks more than benefits. You could jump on new altcoins, ride the wave and still make money, but with added risks and in majority of cases you would be losing more than profiting.
Besides trying to hold on to shitcoins is like a roller coster that has only one peak which has been crossed.
Hence stick to bitcoin and keep altcoins limited while keeping a record of buy/sell points. It is a long drawn process but yeilds profits.
Besides trying to hold on to shitcoins is like a roller coster that has only one peak which has been crossed.
Hence stick to bitcoin and keep altcoins limited while keeping a record of buy/sell points. It is a long drawn process but yeilds profits.
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity and if you really keep to a particular strategy that worked for you even when it seems it's failing you later on and for how long do you stick to this strategy?
You can not conclude one strategy is bad if you are not able to control yourself (emotion then decisions with entry, exit price and time to enter as well as time to exit).You can not conclude one strategy is good if you only apply it a few days, a few weeks and see you are in profit temporarily. Because market will likely take all temporary profit away if you can not close your position at right time especially before big movements.
Personally, one strategy is considered as good if you obey all your own rules for that strategy, and you have net profit or net loss after more than 3 months. If after 3 months, it is good, you can continue to apply it in next 3 months. If net result after all 6 months is good enough, that strategy is good to use, at least for yourself.
Even if it is good, you should never put all capital into one account that is used by one strategy. Trading is risky than investment so you should use very few part of capital for trading.
Yes, and it pretty much apply to any other skill/profession/business. If you figure out your own (working) strategy and if it's actually the case that only you or a few number of people use the same (working) strategy, then chances are you can profit from it handsomely.
If you do not have a trading strategy, how would you then make profit consistently?
There was a time I blindly traded on deriv Dtrader app and I made over 2k dollars in less than 48 hours, let me say out of luck, without having a personal strategy or using any strategy from anyone. Though I started with a $100 account which gave me an edge.
There are people who use others strategies to trade which also yielded great profit for them without having any personal strategy. I have also heard and seen people also say that using others strategies is even more better since it saves you more time and stress of having to figure out a personal strategy.
I'm quite confused by the intended personal strategy. doesn't every trader do that too? they create and implement strategies and trading plans that are indeed the most suitable and considered profitable for the trader.
OP, maybe you can share an example of a personal strategy you use. maybe it does not look common and is rarely used by traders in general. if you share it, maybe it will be more helpful to other traders who may just be learning to trade.
OP, maybe you can share an example of a personal strategy you use. maybe it does not look common and is rarely used by traders in general. if you share it, maybe it will be more helpful to other traders who may just be learning to trade.
It's cool to have your own personal strategy. But have you tested it? How much was the percentage of making profits than losing?
You should also monitor the details to justify that it works or else you will just be losing more leaving only with pride about keeping it and using it more.
Don't go emotional about your creation. If it doesn't work then trash it, make something new, or rely on others' strategies because some of them do work and were tried and tested already many times. Plus, it saves you some time.
You should also monitor the details to justify that it works or else you will just be losing more leaving only with pride about keeping it and using it more.
Don't go emotional about your creation. If it doesn't work then trash it, make something new, or rely on others' strategies because some of them do work and were tried and tested already many times. Plus, it saves you some time.
We've infinite numbers of strategies that can be used so it's better to have our own strategies to use, but even how many it is, they should be used at one time and I know you'll face how many sleepless nights of this and different struggles.
My suggestion is to learn one strategy at a time.
Having a personal strategy to me isn't just the key but the ability to stick to it, is. I have been trading synthetic indices for over 6months and I feel it is better to have a working personal strategy and keeping to it, even at the days and times of loss.
No, just learn about it and proceed to another strategy, there's no need to keep on it, if you've experienced losses that's not good to keep.My suggestion is to learn one strategy at a time.
Having a personal strategy to trade the market with isn't an option but a requirement for every trader who hopes to make the most out of the many trades they put out on the market. Hey, don't get me confused with a professional or some one who is very good at trading right now because, that ain't me but, I just know, for you to have a high probability of success, its lways about going with what you know, what your familiar with and it could be about a particular trading pair. Same strategy doenst wor at all times on all trading pairs.
You've got to have a strategy and apply it to the right pair. Don't forget, the market changes so, you have to be watchful for when.
You've got to have a strategy and apply it to the right pair. Don't forget, the market changes so, you have to be watchful for when.
Because at the end of the day, it is your money at stake. So it is indeed hard to rely on someone else's strategy.
You know better how to take care of your funds and minimize losses. But that would take effort from your side.
If you are into trading, much better if you are familiar with the coin or token that you are dealing with.
Because if not, you are just blindly following their trend and you can easily incur losses without learning its foundation.
If you have alot of time to make a trade and execute those learnings and knowledge investments regarding trading it is good to make your own strategy but if you don't have time and would like to let someone make a trade for you it is more suitable with the copy trading it is more less hassle but it depends on you because it is your funds and it is not good state too that you are letting someone trade for you that's why it is good to make sure their strategy if it is effective or not.
Having a personal strategy to trade the market with isn't an option but a requirement for every trader who hopes to make the most out of the many trades they put out on the market. Hey, don't get me confused with a professional or some one who is very good at trading right now because, that ain't me but, I just know, for you to have a high probability of success, its lways about going with what you know, what your familiar with and it could be about a particular trading pair. Same strategy doenst wor at all times on all trading pairs.
You've got to have a strategy and apply it to the right pair. Don't forget, the market changes so, you have to be watchful for when.
You've got to have a strategy and apply it to the right pair. Don't forget, the market changes so, you have to be watchful for when.
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity and if you really keep to a particular strategy that worked for you even when it seems it's failing you later on and for how long do you stick to this strategy?
It doesn't hurt to have a personal trading strategy, it enhances your understanding of the market and be able to fix it yourself when something went wrong or if you find your strategy is not fit for the current market situation. Of course, it doesn't harm to have a peek at others' strategy and compare it to your self-made strategy. Oftentimes, having reference and preference boost our self-made strategy because we might find out that other strategies have the fix for the possible problem of our own strategy.
It is good if you have your own strategy, but it's never harmless to incorporate some other people's ideas into your trading schemes. I myself am only copying other people's positions for the most part, but it is always up to me whether I'd stick to it or I'd stop it if I feel that my position isn't the best. Of course, you're not always in the greens all the time so it's best to gauge the market before employing your strategy or other people's strategy.
Having a personal strategy to me isn't just the key but the ability to stick to it, is. I have been trading synthetic indices for over 6months and I feel it is better to have a working personal strategy and keeping to it, even at the days and times of loss.
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity and if you really keep to a particular strategy that worked for you even when it seems it's failing you later on and for how long do you stick to this strategy?
As long as the strategy is working for you and it's profitable, stick to it and it's up to you if you see that it's no longer working and you just keep on failing then there's a need to change it. I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity and if you really keep to a particular strategy that worked for you even when it seems it's failing you later on and for how long do you stick to this strategy?
There's no need to seek validation when your strategy is working so you keep on doing it and try to be productive as much as you can.
So, whatever is that personal strategy that you've discovered, you continuously use it repeat if it's profitable and test until it fails then change it if it's only bringing you losses.
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