Is it best to have a personal trading strategy? - page 13.

CapGelatik

full member

Activity: 1064

Merit: 100

Combo Network

Quote from: Strongkored on October 03, 2022, 03:42:17 AM

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.

I agree with you and indeed with a personal strategy at least it becomes an experience,
that way they continue to process and find their own trading strategy that suits them,
trading is not just about strategies to make big profits

Wapfika

hero member

Activity: 1246

Merit: 560

Bitcoin makes the world go 🔃

Quote from: cheezcarls on October 03, 2022, 09:13:20 AM

Yes I think having your own trading strategy is good rather than just relying on other’s techniques. Of course, you can adopt those trading techniques from others and incorporate it on your own.

Of course, no trading strategy is perfect. You’ve got to go through trials, challenges, fails, etc., before something really works. But of course no matter which strategy is it, the market is always the master and it can go up or down without warning.

When we trade thru experience eventually we will be able to determine what strategy works best in us. There will be time that we will listen to others but atleast we can weight in whether what they are saying is applicable since we do understand how different strategies may work. We must learn to adopt techniques depending on situation and having personal trading experiences will help us to determine what to do whenever the market is down or up or when there are issues in coins were trading in so we will not just depend in other to earn.

GreatArkansas

legendary

Activity: 2282

Merit: 1344

Buy/Sell crypto at BestChange

Quote from: Obari on October 02, 2022, 01:54:27 PM

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.
(....)

The most important thing here is how you stick with your strategy, even if your strategy comes with other people or a lot of users using it.
Because strategies will not always work, that's why there is stop losses or risk management. It's like there is no 100% for everything, even how strong your strategy is.

sulendra12

hero member

Activity: 2814

Merit: 526

Undeads.com - P2E Runner Game

Quote from: Obari on October 02, 2022, 01:54:27 PM

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?

How about you just tweak the variable of certain strategy to fit your own playstle on trading? Rather than making your own strategy from scratch where it would probably just look the same as the other strategies but with lower probability to get profit.

The way I look at strategy is that it just depends on the situation of what happened in current day on that coin. You'd probably need multiple strategies to compensate those probabilities, rather than sticking to only one strategy you could miss out lot of opportunities to gain profit if you do so.

cheezcarls

hero member

Activity: 2254

Merit: 658

Revolutionized copy gaming platform

Yes I think having your own trading strategy is good rather than just relying on other’s techniques. Of course, you can adopt those trading techniques from others and incorporate it on your own.

Of course, no trading strategy is perfect. You’ve got to go through trials, challenges, fails, etc., before something really works. But of course no matter which strategy is it, the market is always the master and it can go up or down without warning.

Obari

sr. member

Activity: 560

Merit: 424

I buy all valid country Gift cards swiftly.

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.

Hamza2424

legendary

Activity: 952

Merit: 1030

#SWGT CERTIK Audited

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.

crwth

copper member

Activity: 2744

Merit: 1250

Try Gunbot for a month go to -> https://gunbot.ph

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.

ultrloa

legendary

Activity: 2702

Merit: 1220

Quote from: Obari on October 02, 2022, 01:54:27 PM

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.

So best to have self study and learn to trade on your own.

Oshosondy

legendary

Activity: 1414

Merit: 1118

...gambling responsibly. Do not be addicted.

Quote from: Obari on October 03, 2022, 12:12:58 AM

Quote from: Oshosondy on October 02, 2022, 02:07:40 PM

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.

Remember I included 'consistently'. I remember the first time I traded like 3 years ago now, I gained very well, but not knowing how losses would follow and be maximized by derivative trading losses. I remember a time my trading fund supposed to be liquidated at just $1 remaining to liquidation price, like bitcoin at $19999 but liquidation at $20000, but followed by significant bear market which I was favoured, but I traded consistently at the time and I later lost great amount of money. Being a good trader is not about making money, but about making money consistently.

Strongkored

legendary

Activity: 2758

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

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.

GatotKaca

sr. member

Activity: 1372

Merit: 250

Seabet.io | Crypto-Casino

Quote from: mk4 on October 03, 2022, 12:30:50 AM

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?

TheUltraElite

legendary

Activity: 2828

Merit: 1213

Call your grandparents and tell them you love them

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.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: Obari on October 02, 2022, 01:54:27 PM

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.

mk4

legendary

Activity: 2716

Merit: 3817

🪸 NotYourKeys.org 🪸

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.

AbuBhakar

hero member

Activity: 966

Merit: 511

🇵🇭

Quote from: Obari on October 02, 2022, 01:54:27 PM

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?

Trading indices was made for traders that dom’t have enough knowledge to create there strategy. It was designed based on the market data and offers the best portfolio for ypur preference. In your case that you are able to create a working personal strategy then you should follow your own strategy while it's working. We have different style and trading appetite. It's useless to ask someone for an opinion that only you can answer.

Personally, I’m using copy trading on exchange since I have limited time on trading. I will do the same as your if I will be focus more in trading.

Obari

sr. member

Activity: 560

Merit: 424

I buy all valid country Gift cards swiftly.

Quote from: Oshosondy on October 02, 2022, 02:07:40 PM

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.

Pandu Geddon

hero member

Activity: 826

Merit: 583

Bons.io Telegram Casino

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.

danherbias07

legendary

Activity: 3108

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

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.

sheenshane

legendary

Activity: 2366

Merit: 1206

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.

Quote from: Obari on October 02, 2022, 01:54:27 PM

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.

Topic: Is it best to have a personal trading strategy? - page 13. (Read 2393 times)