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?
Personal trading strategy is not something that can be accomplished in the blink of an eye. Personal trading strategy is an acquired skill over time. Imagine being surrounded by traders who make trading their way of life. Do you believe they all share the same strategy? How many people do you know that make a comfortable living by replicating another traders' same trades? How many millionaires attribute their success solely to imitation? Everyone would quit their jobs if the road to riches was so simple.
Personal trading strategy will help you gain skills that will be useful in the long run. One example is self-reliance; when you have your own trading plan, you do not need to rely on the strategy of others. You will discover and build abilities that will help you and that no one can copy. Look for assistance but avoid crutches. Never depend your trading approach on another trader or "expert.". Next is sustainability, having done the trading on your own would guarantee your future. Dependence on other trading strategy would not give you assurance. What will happen if they do not share their trading secrets anymore? Or what if their strategy is not effective with the current market situation? You must focus on building your approach as this allows you to adjust to change and continuously enhance your plan.
I believe if you want to be successful in trading, building your own strategy is essential. You will not build a strategy that you might think will fail later. There is no such thing as one size fits all, thus having your strategy would help you assess if this is effective or what are the things you need to work on.
Hope this helps! You'll gonna be successful too!