Topic: Is it best to have a personal trading strategy? - page 5. (Read 2393 times)

Trading is so broad where a lot of topics and factors are connected to each other, trading is where people can release their creative expression and also to have freedom to what they want to do. This is where the difficulty kicking in because there are no rules that have been set for the traders. You are the only one who will create and help me you to guide you and maximizing your profit with proper risk management. If you will ask me If I have my personal trading strategy and personal rules, my answer is YES. I created a trading system wherein it helps me find the best entry point with the best risk management skill. My plan is consisting of entry point, target profit, how much money will I put, trading trending crypto, the price should be on support level and I also checking the volume if it is good or not. There are a lot of traders who consistently losing in the market because they do not have plan, they just entering andbuying crypto without knowing their entry point and without knowing how much money they will lose if their trade got invalidated. If you want to be part of those traders keep making 6 digits consistently then building a solid system with risk management, personal trading strategy, a solid plan and having a supreme confidence can help you to achieve financial freedom in trading.

I have always said something, the more you read, the more knowledge there is, many trader or investors give their point of view based on their experiences and all of that is very good, so this information, more than anything that is embodied in books, is the one that teaches the most For me, that is the best method to acquire knowledge, and if you have that knowledge, it is very easy to devise our own strategies, but if after we do them we look at others that are very different, it can distort our analysis, and we are no longer going to have a plan but a mixture, and you will not know what to obey, it is always good to have and see other analyzes but I think personal analysis is the best.

Exactly mate and invariably you're trying to say that having a trading strategy doesn't really matter as long as what you follow truly works for you and I do agree with this too but I think at some points after following so much signals, I think one might be learning this things gradually and people pick more interest in things that bring money and by so doing, they might develop their own strategy and whatever the case might be, it is always good and better to have your own personal strategy so as to take full possessions of your trade and full responsibility for your trades as well.

It depends on your individual goals and preferences. A personal trading strategy can be beneficial if it helps you stay organized and disciplined, but you should also consider other factors such as the amount of risk you are willing to take and the type of assets you plan to trade.

Ultimately, the best trading strategy is the one that best suits your individual needs and goals.

I think having a personal trading strategy is the best thing one can ever do as a trader.Every trader has a way in which they do things and it works for them,same way is trading,there are some strategies one will put in trading that will not allow you to lose,rather,it will always make you win.I know quite well that there are regular winners,but winning comes when one is using a special strategy in his trading,and this stategy does not just come ordinarily,but it comes from series of failures gotten in the past,mistakes that one has done that causes them to loose.When all this comes to your reasoning,you will definitely device a strategy that will always work for you,because no one is happy while losing money continuously,it is the joy of everyone to always be making gains and winning Everytime one trades.

I agree with OP that it is good to have a personal strategy and not just about having it but also sticking to it is another great feature as well.
But recently there have been cases of copy trading where traders especially newbie traders don't have to worry so much about making financial decisions but rather rely on the predictions of others and I also heard of storiesnid AI using ChatGPT to help make financial decisions and all of this to me isn't reliable and that is why I prefer to have and own my own strategy that will always help me know when to take financial Decisions.
In conclusion, having a personal trading strategy is best even if one wants to copy trades from others.

Having a personal trading strategy is like navigating through a minefield blindfolded. Even the best-laid plans can blow up in your face. You can analyze the market to your heart's content, but what happens when the market throws you a curveball?

Who else can recall the heyday of "copy trading"? We were led astray like rats by the Pied Piper, only to discover afterwards that most of the dealers were actually automated programs. A classic example of human against mechanical conflict.

So, what is the answer? Like an untamed horse, revel in the market's volatility and uncertainty. The smallest alteration can cause a domino effect, so keep chaos theory in mind. Be flexible and who knows what will happen. Ultimately, you could come out on top.

It would be better if we use personal strategies rather than having to depend on other people's strategies because other people are not responsible for our finances but we are fully responsible and if we continue to depend on other people then I think our expertise and experience in trading will never increase , I personally always prioritize using my own strategy when I want to enter the market, even though the strategy I make is not always profitable, applying other people's strategies also cannot always benefit us, sometimes we can't even rely on them.

Having your own strategy will also be able to measure the extent to which we understand trading and the market. Because with that we will definitely be required to understand everything, including the location of the mistake when we experience a loss. Of course it will not be easy to create our own strategy, it will take a very long time before we can really implement the strategy very well. But from all of that, we will always learn to turn the strategies we apply into strategies that are feasible for us to use. How to? namely by continuously updating our knowledge.

those who still rely on copy trading are usually beginners who are curious about the instant benefits. after trying a few trades and still losing, then join the trading channel and group. they can be advised to follow a shared trading plan for quick profits without creating their plan.
maybe they will be successful in 1 or two trades. but those who have been for a long time will definitely leave this way and choose to learn everything on their own.

Oh yes obviously one should always have personal trading strategy because just copying someone else does not work always. I don’t know if you know this but there was time couple of years ago when “copy trading” was launched by forex and eToro in the Share market. Literally those guys went way ahead of the time and tried to manipulate the market with this strategy. It never worked for anyone who was involved in it because most of them were bots who were telling everyone in what they should be investing. It was more or less pumping specific asset collectively thus making it go up.

Anyways, this is why one should always keep the methodology to themselves. Learn the trading pattern all the time and learn the facts about market. Plot strategy based on TA and FA, otherwise there is no meaning to trading as such.

A better overview of the market, having your own strategy gives you time to adjust in each possible market movements.

If you have good understanding and you developed your own way working inside the market, the chance that you'll be able to
earn decent amount of profits.

And aside from that, the chance of lessen the chance of losing huge amount of money.

It is always good to have your own strategy, why? since if it gives good results it is because we are having a good vision of the market, or a Correct vision of the market and that is More money earned, now, if the fact of Mixing the settings Does not work, it is something that I do not recommend, because Simple, mten would not be Understanding where those conclusions Were drawn from to make the decision, it is something like the signal groups that only Give signals and do not say how they got there or explain it, it is like putting a Blindfold on, something like that as I see it when there is a Mixture of one's own strategy and that of another.

Trading needs particular strategy to make it work and successful. That is why a good trader should have its own personal trading strategy that works and suits to the market condition. Otherwise, he will have a hard time profiting from trading and stay sustainable in the market for long. However, in times you see your strategy is not working anymore, then start upgrading it and then retest it again and see if it’s still working. If not, better to develop a new one that suits the market condition well.

We have our own ways on how we do make out our trades on which we would really be making out lots of combinations or using up on different indicators at the same time.You would really be finding for yourself
on which you would really be seeing which strategy would suit you out the most and this is why its important that you would really be making on your own rather than on finding another peoples or traders strategies.Come to think off that trading isnt for short term only on which you would really be needing this to make yourself that sustain in longer runs which means that long term approach
would be necessary and you cant just take it that simply.

Every trader has some sort of strategy. They might not call it a personal strategy but it is like the last card they hold closely to their chest. Any trader who has been able to manage their trading risks such that they are able to reduce their potential loss is employing personal strategy. And when your losses reduce, your profits increase.

You can achieve long term and profit while trading by adopting personal strategy. But you have to be careful because the market doesn't always move in the same direction. this should always be kept in mind and should not be forgotten so it is better to know some more tips about trading very carefully. If you are trading with the same strategy, you will risk your money at some point. So you must take some more ideas about the market if you want to achieve high success.

It's always good to learn about all the trading strategies and patterns and then chose the ones that best fit ones purpose, trading is very important in bitcoin becau you will always wanted to exchange it or sell and buy, there are times to hodl and times to sell or buy, all these have a particular pattern to follow for doing them, if you're good at knowing an accurate prediction over bitcoin price from your cognitive study through bitcoin price speculation, you can read the chart and predict the next outcome from it in a couple of time.

It is sad to hear your experience but the truth remain that majority of us rush into crypto trading and investment with the aim of making money in short term without having to take the consequences into consideration. I will advice you not to give up on crypto investments but learn how to diversify your capital while investing. Do not put your eggs in one basket. Bitcoin investment should carry if not all, the majority of your capital for long term holding. Other altcoins like ethereum, Sol and BNB looks promising thou their success is not guaranteed but they seem to have future potential and you can invest a little amount on them.
Everything about crypto is very risky and that's why it is recommended to risk the amount you can afford to lose in case it back fire, the pain will be bearable. I will like to remind you that trading is even more risky than investment unless you are ready for the aftermath of emotional instability. In summary, whichever aspect you choose to focus on, please do take caution and risk averagely.

Most of the time we have to watch the market as it can be very volatile and we need to act quickly if we are talking about short term trading. For long-term trading, we will mainly be interested in a global trend change, since the trend is your friend.

Even if you take someone else's strategy as a basis, or fully use someone else's ready-made strategy, you still have to follow the market and analyze the charts yourself, make decisions when to buy and when to sell, it's all important, so you need to learn to do everything yourself to increase your skill in this.