Is it best to have a personal trading strategy?

[crwth]

Having a personal strategy would be beneficial because knowing what you want and how you are going to execute this idea so that if the strategy doesn’t work out with the current market, it is only you who would be responsible for it in these times a thing, it’s better to have that kind of acceptance every time you have a loss.

Personally I’m using a trading bot  that uses an optimized strategy and have been tested by multiple users, which is already a great benchmark. I think what you need to do is that you have to have multiple strategies for different markets so it’s better to determine where and what market are we in and then decide from there.

[1714506419]

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[Hamza2424]

That is what you always need a strategy owned by you where you manage risk and learn by the experience 😅 how to trade. I would like to say that if you don't own a personal Strategy then you are not a good trader all you need is Strategy works for you where you won't blame any signal provider. Signals sucks as short term profit and lead to a Major loss.

[Obari]

Thank you so much, but I was also trying to discuss this very topic with someone (a senior trader), and he told me something about copy trading, that even people who do mostly copy trading also have to take out some time to, first compare the works done by this traders, they wish to copy and by so doing, they're also making research indirectly, as to which trader they would want to copy for more accuracy and profitability.

Trading isn't actually for lazy minded people, as it requires a whole lot of research work, even while doing copy trading and why making those researches, the possibility of figuring out what works for you it's been achieved. And if at some points your strategy doesn't work, then there is no need continuing with such strategy, because the market is volatile and changes are bound to happen and as the changes happen you're expected to move with the trend.

[cheezcarls]

Yes I think having your own trading strategy is good rather than just relying on other’s techniques. Of course, you can adopt those trading techniques from others and incorporate it on your own.

Of course, no trading strategy is perfect. You’ve got to go through trials, challenges, fails, etc., before something really works. But of course no matter which strategy is it, the market is always the master and it can go up or down without warning.

[sulendra12]

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?

How about you just tweak the variable of certain strategy to fit your own playstle on trading? Rather than making your own strategy from scratch where it would probably just look the same as the other strategies but with lower probability to get profit.

The way I look at strategy is that it just depends on the situation of what happened in current day on that coin. You'd probably need multiple strategies to compensate those probabilities, rather than sticking to only one strategy you could miss out lot of opportunities to gain profit if you do so.

[GreatArkansas]

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.
(....)

The most important thing here is how you stick with your strategy, even if your strategy comes with other people or a lot of users using it.
Because strategies will not always work, that's why there is stop losses or risk management. It's like there is no 100% for everything, even how strong your strategy is.

[Wapfika]

Yes I think having your own trading strategy is good rather than just relying on other’s techniques. Of course, you can adopt those trading techniques from others and incorporate it on your own.

Of course, no trading strategy is perfect. You’ve got to go through trials, challenges, fails, etc., before something really works. But of course no matter which strategy is it, the market is always the master and it can go up or down without warning.

When we trade thru experience eventually we will be able to determine what strategy works best in us. There will be time that we will listen to others but atleast we can weight in whether what they are saying is applicable since we do understand how different strategies may work. We must learn to adopt techniques depending on situation and having personal trading experiences will help us to determine what to do whenever the market is down or up or when there are issues in coins were trading in so we will not just depend in other to earn.

[CapGelatik]

It is precisely those who do not have a personal strategy in trading are those who enter the world of trading carelessly.
Having a personal strategy in trading will not guarantee consistent profits but it will allow us to learn every mistake made and be disciplined in trading so that it can reduce losses.

I agree with you and indeed with a personal strategy at least it becomes an experience,
that way they continue to process and find their own trading strategy that suits them,
trading is not just about strategies to make big profits

[freedomgo]

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?

If you do not have a trading strategy, how would you then make profit consistently? Every successful trader have strategies they are using. But you have to make sure that your strategies are working for you. If not working and see trading not easy, better to move to holding. But all successful traders have trading strategies which are helping them to make profit.

You won’t be a good and profitable trader eventually if you don’t have proven strategies to win and make sustainable profits. The reason why successful traders develop their own skills and strategies in trading so they can make consistent trading profits. However, if you have strategies and you think it’s not working anymore, then try another one which you think will become an asset to you.

[Issa56]

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.

Having personal strategy and sticking to it is very important, in crypto trading, one of the first thing you should do is having a strategy that work's for you, everyone is having different strategy, for example your own strategy might not work for me, the strategy you use that favors you might not work for me, if I use it I might endup losing money. If you don't have strategy in Cryptocurrency then you won't stay long in crypto space, having personal strategy those not mean you won't lose money, you just have to stick to it and try to make adjustments when needed.

[Mahanton]

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?

It would be always that preferable rather than making yourself been following on others signals and analysis which you could really stand on your own without needing on someones help, but its not really that bad to
consider on looking on others analysis as well which you could really snip out some idea or ways which would be added up into yours.You should really be that versatile when it comes to trading strategies and analysis.
Its always been best that you arent really making yourself relying into other, make use of your own strategies which you do have gained from your real experience in the market.
This would really be involving lots of trial and error and keep yourself thriving on making good strategies on various situations or conditions.

[seleme]

Just sticking to one strategy is not a good idea since it can't be perfect so you have to try other methods or strategies to find the best one. What works for one trader may not work for you, so be careful copying other trader's strategies. Instead of a personal trading strategy, I wanna call it a unique feeling of what, when, and how it will gonna happen. It can be a trend, pattern, timing, leverage, etc. After a few years in the trading world, the trader becomes more skilled with personal trading strategy/feeling market and the 10000 screen time rule proves why traders are asked for this experience. Just get that experience and make awesome bonuses on trading firms in case of you don't have enough capital to invest for life. Btw, there are similar threads on forexfactory to read for making my arguments clear if you wish to read.

[nurilham]

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.

There is no trading strategy that always wins and never loses. Be it any kind of trading strategy, you will definitely lose. But from here we can consider whether the strategy actually works for us or not, namely by considering the percentage of losses and successes of the trading strategy. If it feels like you experience defeat more often, then something is wrong and there must be an evaluation and change. But this, who knows is ourselves, a personal approach in trading strategy is indeed a bit difficult, especially we must be able to evaluate our own strategy and decide what went wrong and what to do next.
And this, everyone, will be different. As long as we are comfortable with the trading strategy and make more profit, it will not matter whether it is a personal trading strategy or something else.

[Natalim]

Just sticking to one strategy is not a good idea since it can't be perfect so you have to try other methods or strategies to find the best one. What works for one trader may not work for you, so be careful copying other trader's strategies. Instead of a personal trading strategy, I wanna call it a unique feeling of what, when, and how it will gonna happen. It can be a trend, pattern, timing, leverage, etc. After a few years in the trading world, the trader becomes more skilled with personal trading strategy/feeling market and the 10000 screen time rule proves why traders are asked for this experience. Just get that experience and make awesome bonuses on trading firms in case of you don't have enough capital to invest for life.

Making our own strategy will certainly not work instantly and a reason why we have to do trial and error is that it takes time to develop in order to work it probably but along with that, we somehow spend a lot of money in order to get tested. Maybe it was not a problem if you really have enough money to spend doing this but if you don't have, following other strategies that had worked already seems ideal. For me, I'd rather make a choice of it rather than spend a lot of time and money making our own and also don't have any assurance that it will succeed.

[KennyR]

Having your own strategies is good for some reason. The market won't be the same all the time. When you get into trading there needs to be some buying point and selling point. Only the trading strategy can define it. At time the strategies followed by other traders won't be effective with us, because his asset and ours vary. Even if the trade ends in a loss, it won't cause mind disturbance. If the same loss happens on following someone's strategy it'll hurt.

[BuNga_cute]

Having your own strategies is good for some reason. The market won't be the same all the time. When you get into trading there needs to be some buying point and selling point. Only the trading strategy can define it. At time the strategies followed by other traders won't be effective with us, because his asset and ours vary. Even if the trade ends in a loss, it won't cause mind disturbance. If the same loss happens on following someone's strategy it'll hurt.

As you said we do have to have our own trading strategy, if we trade following someone else's strategy we will most likely fail. That's because
the conditions, targets and also the capital we use will be different from others, so it's not necessarily suitable for other people's strategies
if we use them. Even if our strategy is successful, it is not certain that if it is used by others it will work too. Usually traders are successful,
it's because they have their own trading strategy.

Then another important thing is that the situation and market trends are always changing, so we also have to regularly update the strategies
we use, to be more effective and can give us big profits. Because we can't use the same trading strategy in the long term. For us to be able
to find the right strategy and can provide big profits, we usually have to do trail and error. So don't be afraid if at first our strategy doesn't go well,
later we slowly fix the wrong things in our strategy and finally it becomes an effective strategy.

[Kimonoe]

Having your own strategies is good for some reason. The market won't be the same all the time. When you get into trading there needs to be some buying point and selling point. Only the trading strategy can define it. At time the strategies followed by other traders won't be effective with us, because his asset and ours vary. Even if the trade ends in a loss, it won't cause mind disturbance. If the same loss happens on following someone's strategy it'll hurt.

In fact, whatever our steps are with our beliefs and with personal analysis, even if we end up losing, the disappointment will not be as big as if we follow other people's analysis. it is from our own mistakes that we can learn how later we will not repeat the same mistakes, so that later we will find our own trading style and will be able to enjoy trading more

[justdimin]

It is precisely those who do not have a personal strategy in trading are those who enter the world of trading carelessly.
Having a personal strategy in trading will not guarantee consistent profits but it will allow us to learn every mistake made and be disciplined in trading so that it can reduce losses.

There are way too many people who do that, and that's the reason why there are more people losing money on trading than earning. There is a minority that is making all the money, and a majority who keeps on losing, and if someone leaves, another newbie takes their place and veterans take their money one by one.

If you know what trading is like, and if you have a working understanding of the trading indicators and charts, then you will know what to do and you will be able to make a profit. However, if you are a newbie and just trade stuff because you feel like it, or you read it somewhere on twitter, %99 chance you are going to lose all your money.

[xzy887]

Having your own strategies is good for some reason. The market won't be the same all the time. When you get into trading there needs to be some buying point and selling point. Only the trading strategy can define it. At time the strategies followed by other traders won't be effective with us, because his asset and ours vary. Even if the trade ends in a loss, it won't cause mind disturbance. If the same loss happens on following someone's strategy it'll hurt.

In fact, whatever our steps are with our beliefs and with personal analysis, even if we end up losing, the disappointment will not be as big as if we follow other people's analysis. it is from our own mistakes that we can learn how later we will not repeat the same mistakes, so that later we will find our own trading style and will be able to enjoy trading more

Not only that. No matter how good a trader you are. If you don't have your own strategy in trading then you can never be a successful trader. Because when you go to trade with your own strategy, you will understand if there is a mistake in your trading. And if there is a mistake, then by correcting it, you can become a successful trader. So it is better to have your own strategy in trading to become a successful trader.

[Questat]

It is precisely those who do not have a personal strategy in trading are those who enter the world of trading carelessly.
Having a personal strategy in trading will not guarantee consistent profits but it will allow us to learn every mistake made and be disciplined in trading so that it can reduce losses.

There are way too many people who do that, and that's the reason why there are more people losing money on trading than earning. There is a minority that is making all the money, and a majority who keeps on losing, and if someone leaves, another newbie takes their place and veterans take their money one by one.

If you know what trading is like, and if you have a working understanding of the trading indicators and charts, then you will know what to do and you will be able to make a profit. However, if you are a newbie and just trade stuff because you feel like it, or you read it somewhere on twitter, %99 chance you are going to lose all your money.

But I think newbies are prone to losses and that is because they really don't know what to do first. That is why it is not new for me to hear newbies got loss in trading but I see this as a sort of their improvement. And this will also help them to realize that trading is hard and risky if we don't have any idea about this and to follow someone is a little bit easier for them. Well, the idea is somewhat good for a beginner but never think of relying upon others forever as to make our own strategy is supposed to be the best thing to do.