Re: Did you know that most traders have good trading strategy?
I will keep this short and simple--and this post is to open our trading understanding a little.
As the title reads, oh yes, it's true, but they still lose.
They are busy chasing a better strategy that can only exist in their imaginations, thereby losing focus, and then style drifting.
Those simple strategies you undermine are enough for you if you work on yourself. I was shocked when I realised someone bought a trading strategy for $3,700...oh my God!
And guess what, it failed him, what a waste!
A good trading strategy is important, but what traders need to succeed is not an absolute strategy that gives 100% winning. A 60% winning strategy is okay if you can work on your trading psychology and money/risk management. As simple as the two are, they've reshaped my trading results for good.
Reshuffle that mindset and see the result in months.
As the title reads, oh yes, it's true, but they still lose.
They are busy chasing a better strategy that can only exist in their imaginations, thereby losing focus, and then style drifting.Those simple strategies you undermine are enough for you if you work on yourself. I was shocked when I realised someone bought a trading strategy for $3,700...oh my God!
And guess what, it failed him, what a waste!A good trading strategy is important, but what traders need to succeed is not an absolute strategy that gives 100% winning. A 60% winning strategy is okay if you can work on your trading psychology and money/risk management. As simple as the two are, they've reshaped my trading results for good.
Reshuffle that mindset and see the result in months.
For some people a strategy might be following a whole set of rules, as you already mentioned, risk management and a number of other principles that essentially form a strategy for each individual trader. When I started trading I didn't particularly focus on one specific strategy. I read different traders, watched and tried to understand how they trade. Everyone has their own approach, their own habits, but what I realized for myself is that it is important to create a list of rules that you will never break under any circumstances.
Not a huge list, up to 10 rules, but once you start sticking to it your trading results noticeably improve. So everyone looks for their own approach but I definitely would never buy any strategy for money.