What do you do to a trading strategy that already earns you a good percentage in profit. do you still try improving on it to ensure it does not fail? or do you let it be until it starts showing signs of failure?
There's this saying that if overconfidence makes you stop learning, it can also fail you. That is to say that no matter how confident you are with that strategy you are making profit with, never stop learn about the strategy, learning about it will still continue to improve the simplicity of your trade, you don't have to be too comfortable with something and not prepare for the situation of "what if it fails me? " If trading is very simple, every would quickly learn it and start doing it but because of how unstable and inconsistent it is, that why a trader that is already making profit should not stop learning.
You are absolutely right. When you do not learn anything in trading, the market will do something to you and teach you a lesson. The market is dynamic and even when a strategy is doing good, it may not be able to survive. The practices that are effective today could be obsolete the month later. Thus it would be logical to continue perfecting your strategy, but still not otherwise, but to pay attention to its performance under various circumstances. I believe it is all about being sharp and be careful not to be over comfortable. Sooner or later confidence always helps but one should be aware and flexible all the time.