Is it best to have a personal trading strategy? - page 7.

Hamphser

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Quote from: |MINER| on March 21, 2023, 07:56:18 PM

It is always best to have personal strategies for trading when you have well knowledge about trading related thing like reading chart and analysis

You could acquire up these skills when you do actively trade on this market alone on which it would really be involving that lots of trial and errors which you would definitely mold up yourself to become a better

trader until the time comes.No one would really help you out but only yourself, which it would really be just right and ideal that you should be the ones who do create your own strategy on various market conditions without tending to make yourself that self reliant into other traders in the community.Just like on what others been saying that it isnt bad to get some idea into others but dont make yourself that relying on them most of the time.Snipping out some strategy and would be applied into yours is also a good versatile act on which it could really help you out on some point.

|MINER|

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It is always best to have personal strategies for trading when you have well knowledge about trading related thing like reading chart and analysis . Because the personal strategy works a lot on your skills just like getting into trading. without proper knowledge about trading it is more risky to have a personal strategies And not only just in case of taking personal strategies it is risky for trading. But I think everyone should trade through personal strategy at some point in trading.

bettercrypto

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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.

Unbunplease

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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.

darewaller

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Quote from: Huppercase on March 20, 2023, 01:12:00 PM

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.

Bushdark

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Quote from: Bananington on March 20, 2023, 03:09:07 PM

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 ?

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.

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

... 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.

All I care about is having a good strategy that works. Whether it is personal or general one like the one we can buy from pro traders that must have developed fast working indicators or bots that give a better results. Trading is sweet when we have a strategy that works as atrader and we are earning from it. It does not matter how we get to know about the strategy because what matters is the amount of turnout we having on a weekly basis. Strategies do expire so we need to be updating it according to the market differences.

Obari

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Quote from: Bananington on March 20, 2023, 03:09:07 PM

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 ?

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.

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

... 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.

Bananington

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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 ?

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.

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

... 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.

Zilon

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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?

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.

Huppercase

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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.

TheUltraElite

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Quote from: Obari on March 20, 2023, 01:27:38 AM

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.

kirya

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Quote from: kermez on March 18, 2023, 07:30:30 PM

I know that creating your own trading strategy can save time and money. But what about customer service? Are there any tricks on how to improve it when trading?

Good customer service no doubt plays a great role in growing business. And of course, there are tricks of the trade to develop it. Here are some of them:
- respond to clients as soon as possible
- listen carefully and clearly understand the needs of your customer
- provide consistent quality of your service
- open communication channels, they should be easily accessible
- put in place an adequate reward system
- stay in contact
- deal with complaints
- stay loyal
- introduce promotions
- build trust
Actually, there is no surprise that many business owners go for customer service outsourcing (you can check this article and find out more) as providing good customer service requires a lot of time and effort.

Obari

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Quote from: borovichok on March 19, 2023, 10:40:23 PM

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.

kermez

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I know that creating your own trading strategy can save time and money. But what about customer service? Are there any tricks on how to improve it when trading?

Patrol69

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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

borovichok

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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?

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.

dunfida

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Quote from: RealMalatesta on November 08, 2022, 02:01:05 AM

Quote from: LUCKMCFLY on November 06, 2022, 05:40:28 PM

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.

You should really be versatile and we know this market could really changed up its behavior in a snap which means if you do stick out with single or one strategy then you could easily be fucked up and this is why

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.

monineklutak

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Quote from: boyptc on November 06, 2022, 09:16:12 AM

Quote from: carlisle1 on November 05, 2022, 10:53:55 AM

Quote from: boyptc on November 05, 2022, 09:00:08 AM

Quote from: ChiNgadOr on November 04, 2022, 07:59:37 PM

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.

It's easy to assess ourselves if the strategies we're testing are working for us but if not, it's better to stop it but keep on finding the strategy that will suit your way of trading.

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.

To find a strategy that suits us of course it requires a process because after all it is not easy,
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

RealMalatesta

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Quote from: LUCKMCFLY on November 06, 2022, 05:40:28 PM

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.

Eve Chesterton

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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.

Topic: Is it best to have a personal trading strategy? - page 7. (Read 2393 times)