There are traders that have a good strategy that they use in the market, but still are unable to maximize profit they make.
I think that success in trading is in two parts, which is
- First having a strategy,
- Secondly knowing how to utilize the strategy to profit well.
After learning the first, it is important to learn the second else you will be a trader with a strategy that should work, but no profit to show for it. When you hear of traders who were successfully able flip small account sizes to big ones in a short time, it is not just because of their strategy alone, it is also due to understanding of how to maximize profits and minimize loss.
Developing a strategy is actually the most part of the hard work when it comes to trading because if you don't carefully figure that out you'd end up making a lot of mistakes and losing consistently. After developing a strategy another thing is to utilize it well to get profit just like what you said but if risk management isn't involved in all of these then you are not going to achieve much in a long term
Utilizing your strategy well to maximize your profits won’t never be possible if you fail to apply certain risk management. Risks will always be there, so you have to overcome or lessen it first through an enhanced strategy prior to hitting your goal of maximizing your profits. When that happens, that’s the time that you can go through maximizing your profits, but should never get carried away by greed as well as it can only ruin your trading strategy and the goal you have set within.