Because that depends on the strategy, there are strategies that can provide good income or benefits and there are also those that cause nothing but problems.
Also, I haven't seen anyone who gave or told the truth here in the forum of the strategy that taught about crypto trading step by step. It's just that the view given is usually only advice and suggestions.
Topic: Is it best to have a personal trading strategy? - page 7. (Read 2419 times)
In any strategy, sooner or later some changes are made, because there is no universal strategy. Personal trading experience is very valuable. I don't know anyone who acts strictly according to a template. Even trading bots require personal adjustment.
Trading does not have the best strategy, as long as it is making profits, I'm fine with it. A trader could be usimg Ichiokwu and some moving average (MA) lines and some may choose to use only the trend lines to indicate support and resistance and with that, there trade set up is completed. Some traders will tell you that too much indicators on your screen can mislead you but all this depend on what you used as a trader, if it is working for you and you are making profits, you should stick to that rule, if you try and copy others tradr, you may lose all your money.
But how can you make a good and constant profit if your strategy is weak? Unless if you if you are okay with a small rare profit but on top of it is mostly losses. I think what you are doing there is not trading anymore but it is more like a gambling already. Can you noticed that in gambling we also lose most of the time? That is because we are only depending on our luck and there is no stats that is used there.Some traders are too complex and won't only end their trades on the tools that you mentioned. Lastly, copying other traders isn't bad but as long as you will check their history first (if it's possible). This is helpful for someone wants to earn immediately and still lacks of experience.
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity ?
Having your personal strategy is good because you are sure of the factors that lead to that strategy being formulated. If you are used to using other people's strategy, you will be riding mostly on trust and not certainty. This does not mean that you should completely ignore hearing other people's strategy, you can listen and learn, maybe even from listening you will have tips to make your strategy better. ... 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?
I become uncomfortable whenever my strategy fails like three time in a row. I pause and find out what is is wrong before I continue trading. 
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity ?
Having your personal strategy is good because you are sure of the factors that lead to that strategy being formulated. If you are used to using other people's strategy, you will be riding mostly on trust and not certainty. This does not mean that you should completely ignore hearing other people's strategy, you can listen and learn, maybe even from listening you will have tips to make your strategy better. ... 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?
I become uncomfortable whenever my strategy fails like three time in a row. I pause and find out what is is wrong before I continue trading. Most times, I formulate my strategies from the strategies of others and I feel more confident after comparing strategies and how I really feel about it.
I also don't take formulation of strategies very serious because before I get into a trade,there are already two things in my mind, and one is either I'm losing or I'm winning and that's why in trying to formulate my strategy I always ensure I'm maintaining a very strict risk management and I always make sure I use the stop loss(SL) and Take Profit (TP) features at every trade I enter into.
And I rather prefer copy trading especially from verified trades which highest winning rates by so doing, I don't have to be emotionally stressed directly.
I'm seeking to know if having a personal trading strategy has been able to enhance your trading profitablity ?
Having your personal strategy is good because you are sure of the factors that lead to that strategy being formulated. If you are used to using other people's strategy, you will be riding mostly on trust and not certainty. This does not mean that you should completely ignore hearing other people's strategy, you can listen and learn, maybe even from listening you will have tips to make your strategy better. ... 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?
I become uncomfortable whenever my strategy fails like three time in a row. I pause and find out what is is wrong before I continue trading. 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?
Synthetic indices have always seemed like gambling to me because no strategy works for too long. There are profitable strategy which cannot be disputed but it effect works more on crypto and currency pairs even at that it takes long time practice and many recorded losses to perfect strategies. For me SMA and trend line are good strategies for even beginners because it is less complex and it just a line movement demarcating support and resistance zones. 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 does not have the best strategy, as long as it is making profits, I'm fine with it. A trader could be usimg Ichiokwu and some moving average (MA) lines and some may choose to use only the trend lines to indicate support and resistance and with that, there trade set up is completed. Some traders will tell you that too much indicators on your screen can mislead you but all this depend on what you used as a trader, if it is working for you and you are making profits, you should stick to that rule, if you try and copy others tradr, you may lose all your money.
My major problem is how long do people really stick to their strategies and when do one has to regard a strategy as a failed one because I personally trash an strategy that persistently brings me losses over profits because I'm in the market to make money not loss them.
The buy low sell high method does not fail. Execute it properly and at multiple levels and watch your profits come in.It is true that many people keep talking about strategies and all but mostly it is just guts to keep the buy low sell high concept on and running. The more you try to hunt for methods and strategies the more you realize that people are only trying to fool you. Trading is very simple if you follow the above method.
The difficult part is patience and the grit to keep holding through a bear run.
One thing is to innovate a trading strategy, the other is adapt to it at all costs.
I'm glad you got the point and I love this your last quote "one thing is to innovate a Trading strategy, and the other is to adapt to it and most traders especially the newbie traders are always in a rush to join the train of those owning strategies maybe just for the sake of answering same name as to owning a strategy.
My major problem is how long do people really stick to their strategies and when do one has to regard a strategy as a failed one because I personally trash an strategy that persistently brings me losses over profits because I'm in the market to make money not loss them.
It is very important to know something by yourself rather than depending on others. If you know less about your skills than others then that is also a big deal. There is no substitute for self-knowledge when it comes to trading. If you want to succeed in trading then you must know. There are many people who always wait for the signal of others and take trades based on that signal. It will never bring anything good for your trading.
I myself used to join a signal telegram group and when different coins from that group gave signals I used to buy those coins but there was a time when I followed those signals. I faced a lot of losses, so since then I have no decision if I need to do something in life, then I will do it by myself and not by depending on others. Since that urge I have been trying to learn about trading till now. And I've moved forward a lot, hoping to learn more about it in the future
I myself used to join a signal telegram group and when different coins from that group gave signals I used to buy those coins but there was a time when I followed those signals. I faced a lot of losses, so since then I have no decision if I need to do something in life, then I will do it by myself and not by depending on others. Since that urge I have been trying to learn about trading till now. And I've moved forward a lot, hoping to learn more about it in the future
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?
Sticking to a trading strategy helps one become more confident in the space with backups strategy to bounced back to the mark whenever a loss is recorded. Moreover the existence of my personal trading strategy comes from top traders in the market because in this space, one is entitled to have a mentor that will show you the crucial basics concerning of the market. So I derived my strategy from pro and it's really giving aides for me in the market. Personal trading strategy is profitable as long you're experience and capable of taking easy on the market during losses. One thing is to innovate a trading strategy, the other is adapt to it at all costs. 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?
Currently I am doing a personal strategy with a compendium of many techniques, I say that it is a technique because I am doing short-term trading, and whenever the plot is changed, from medium- or long-term trading to very short-term trading. short-term, it is something that always has its impacts, besides I am not doing short-term trading of crypto or BTC, I am doing it in forex because it has a more consolidated volume and has a very peculiar behavior, the volatility is not much, it can that some theoretical things work faster in this type of market, what happens is that I have not been able to reach my total personal set.
That is a smart decision because in the end if the market is so volatile then so should we. If you have a strategy that changes based on what you see at that moment in the market, and what your needs are, and what the news are saying and all of that combined, that means you will be able to change according to wherever it is going. People who are stuck at just one strategy could make money when things are going well, but when things are at unexpected levels that means they are not going to end up with any profit at all and would be losing a lot because they didn't expect it. I respect your decision to have a flexible method because it sounds like it could work out much better for any trader.
it would be more wiser if you do really create your own personal strategy and dont tend to copy from others but its not bad to get some idea and awareness at least on whats happening around.
Dont make yourself be too reliant on others analysis because they are really just still speculations too came out from their own assessment and trying out
on making one.This is why its not really that something worth off to follow.
One of the problems of personal trading strategy is that it need to be evaluated constantly to cross check if it is still active for a better analysis.
All of the strategies that you'll try in trading will have to be evaluated by you as you're the one who tests and tries it.And if it's not showing good results, you just evaluate it that it's not for you and you have to try another strategy that will work perfectly for you.
Just keep on testing strategies that could be the best for you as you trade it personally and work on it as your personal strat to work with.
Yup! it's only you who can say if the strategy that you are using will work or if you need to adjust and change it from time to time.
A lot of patterns you can look upon but it's always depending on how you take your position and how you execute your strategy.
More on self-assessment and how will you keep improving your strategy to a much better and fit with your trading styles.
Don't give up if you want to be a profitable trader because not everyone will be someday and it's not that easy. Those who don't give up and find their best strategies to adopt are the ones who are likely to make from it.
don't give up easily and be patient, I think it's a must-have for traders who are looking for a strategy that suits them,
most importantly just enjoy the process
Currently I am doing a personal strategy with a compendium of many techniques, I say that it is a technique because I am doing short-term trading, and whenever the plot is changed, from medium- or long-term trading to very short-term trading. short-term, it is something that always has its impacts, besides I am not doing short-term trading of crypto or BTC, I am doing it in forex because it has a more consolidated volume and has a very peculiar behavior, the volatility is not much, it can that some theoretical things work faster in this type of market, what happens is that I have not been able to reach my total personal set.
That is a smart decision because in the end if the market is so volatile then so should we. If you have a strategy that changes based on what you see at that moment in the market, and what your needs are, and what the news are saying and all of that combined, that means you will be able to change according to wherever it is going. People who are stuck at just one strategy could make money when things are going well, but when things are at unexpected levels that means they are not going to end up with any profit at all and would be losing a lot because they didn't expect it. I respect your decision to have a flexible method because it sounds like it could work out much better for any trader.
It is best to develop a personal trading strategy. Everyone has different trading habits and methods, and the strategies used must be adapted to market conditions and gain enough experience in trading to find a strategy that works for you. So it's better to teach yourself and learn to trade on your own.
It's true that the analysis could take some time. Even after four to five years of nonstop losses, good traders will still be around. You are not at all a good trader if you give up after just a few losses. Your entire loss was caused by some fictitious analysis. Trading is an art, and it takes time to make a good, lucrative trade. It may require you to lose a significant sum of money, but the same trade will return 10 times your investment in profits.
This is a good philosophy many traders should follow it, keep your losses as small as possible while trying to maximise our profits. When it comes to trading, losses are not always lost money. As long as we are confident in a coin we can keep holding it and wait for the market to turn around. The general market risk in the crypto markets is very large, when bitcoin is falling in price than it will pull down most of the alt coins with it. As long as we make a higher profit when the prices are recovering than we are in a good position. It also can have benefits to sell coins at a loss, we won't have to pay taxes and reduce our tax liabilities in another trade. Losing is always part of trading and investment, but who is not trying and doesnt join the market has a 0% chance of making a profit.
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?
I would not see myself lasting in trading if it weren’t for my personal working strategy. Of course it’s a very big help knowing you have to deal with an uncertain market plus the inevitable negative news that suddenly affect the market, you have to stick to your own strategy to keep you going in trading. Otherwise, if you only rely from others strategies like copy trading, you will never grow and able to sustain trading once the bad days are in.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?
Currently I am doing a personal strategy with a compendium of many techniques, I say that it is a technique because I am doing short-term trading, and whenever the plot is changed, from medium- or long-term trading to very short-term trading. short-term, it is something that always has its impacts, besides I am not doing short-term trading of crypto or BTC, I am doing it in forex because it has a more consolidated volume and has a very peculiar behavior, the volatility is not much, it can that some theoretical things work faster in this type of market, what happens is that I have not been able to reach my total personal set.
One of the problems of personal trading strategy is that it need to be evaluated constantly to cross check if it is still active for a better analysis.
All of the strategies that you'll try in trading will have to be evaluated by you as you're the one who tests and tries it.And if it's not showing good results, you just evaluate it that it's not for you and you have to try another strategy that will work perfectly for you.
Just keep on testing strategies that could be the best for you as you trade it personally and work on it as your personal strat to work with.
Yup! it's only you who can say if the strategy that you are using will work or if you need to adjust and change it from time to time.
A lot of patterns you can look upon but it's always depending on how you take your position and how you execute your strategy.
More on self-assessment and how will you keep improving your strategy to a much better and fit with your trading styles.
Don't give up if you want to be a profitable trader because not everyone will be someday and it's not that easy. Those who don't give up and find their best strategies to adopt are the ones who are likely to make from it.
When we do talk strategy then you would really be needing some tool.Its connected but totally that different in meaning thats why you should really know on what you are dealing with.
Its okay to see others perspective and others strategy but it would be always be that good to create your own.When it comes to tools and other aspects then it could really be seen and could be used
online and everything is almost provided.
It is really just varying on how you would really make use of it and put up some analysis on it this is why results could really vary person to person.
Its okay to see others perspective and others strategy but it would be always be that good to create your own.When it comes to tools and other aspects then it could really be seen and could be used
online and everything is almost provided.
It is really just varying on how you would really make use of it and put up some analysis on it this is why results could really vary person to person.
The results will differ even if two different people use the same strategy. Because a lot depends on the people themselves, as people decide on the entry point and when to sell. Even when they look at the chart, they can see different figures on the same segment of the chart, I have seen more than once how one segment is discussed by different traders, it even comes to an argument, so you understand how different trading results can be.
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