Did you know that most traders have good trading strategy?

[EarnOnVictor]

Most times changing trading strategies isn't what is required.the problem with a lot of traders is impatience, just because something fails doesn't mean that it's not going to work, no strategy is perfect, they all have flops bit it's left for you to see what you can add to make sure that you don't keep up making the same mistakes over an over. Again. The most important thing to work on is emotional maturity

Many traders think it is easy to make money from trading, which causes the behavior of novice traders who are impatient with the strategy applied.

Well, I don't see it that way, I am sure they know that "trading is not easy, but there are strategies out there that can make it easier." This is why they are busy looking for the strategies that will give them 100% success or near, but they will find it nowhere. The earlier they know, the better. Also, the strategies they are using might not be the issue, but their lack of commitment to it, lack of proper management, overtrading and other psychological issues. Until they read between the lines, they will continue losing and searching for better strategies.

[Awaklara]

Well, I don't see it that way, I am sure they know that "trading is not easy, but there are strategies out there that can make it easier." This is why they are busy looking for the strategies that will give them 100% success or near, but they will find it nowhere. The earlier they know, the better. Also, the strategies they are using might not be the issue, but their lack of commitment to it, lack of proper management, overtrading and other psychological issues. Until they read between the lines, they will continue losing and searching for better strategies.

I refer to novice traders, the cycle where a novice is new to trading will look easy, especially when those who are interested in trading see the profits that others have made in a short time from trading.
They will begin to know that trading is not easy after knowing that there is a lot to know and master. Including finding the right trading strategy.
The challenge lies in those who are able or not to find solutions to the trading problems they experience. Some beginners may give up after a few losses.

[Franctoshi]

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 or close. 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.

Almost every strategy works, but the problem is in our personality as traders, there certain strategies that requires one to be patient which is an inpatient trader is given such strategy to use, he's never going to see the same result, whereas some strategy requires risk management, that is not using high leverage or big lost size to trade. Also, there are some strategies that requires big capital to use, so these are certain things that most traders face that seems to them that a particular strategy works and this other strategy doesn't work, In a nutshell, your success in trading depends on hugely your personality approach towards that strategy.

[Jegileman]

You are right, @op. People keep changing strategies because they are trying by all means to avoid losses, which is quite impossible. Trading requires consistency in addition to the skills and knowledge already acquired. No matter how good a strategy may be, there will still be some bad days when losses are unavoidable.

For those who are still trying to find the best strategy to minimize their risks and maximise profits, they can start with a small capital. Then, over time, when they find what works for them, they can scale up.

Changing strategy will never make you a profitable trader, it is just like one who happens to be jack of all trades and master of none. Keeping up with one strategy is the best and when you stick to it, you can make it in trading faster because you get to master the skills more and more. Learning makes perfect and when you’re perfect at it, it becomes stick to you and a knowledge you can never do without. Sticking to one strategy is what most profitable traders are onto and they’ve made it far while using that one strategy. This gives you ample time to become better and become better in your trading. One strategy is enough to be a profitable trader.

[EarnOnVictor]

-snip-
Reshuffle that mindset and see the result in months.

Almost every strategy works, but the problem is in our personality as traders, there certain strategies that requires one to be patient which is an inpatient trader is given such strategy to use, he's never going to see the same result, whereas some strategy requires risk management, that is not using high leverage or big lost size to trade.

Of course, we need patience in trading for us to be successful. And indeed, every strategy needs our patience without omitting anything, and even in other facets of life, patience is good, which makes it a unique quality required by everyone.

In trading, aside from the strategy, we need patience with our money/risk management, and also in our trading psychology, because you can't achieve any good without giving it the required time. No magic anywhere.

[Wakate]

You are right, @op. People keep changing strategies because they are trying by all means to avoid losses, which is quite impossible. Trading requires consistency in addition to the skills and knowledge already acquired. No matter how good a strategy may be, there will still be some bad days when losses are unavoidable.

For those who are still trying to find the best strategy to minimize their risks and maximise profits, they can start with a small capital. Then, over time, when they find what works for them, they can scale up.

Changing strategy will never make you a profitable trader, it is just like one who happens to be jack of all trades and master of none. Keeping up with one strategy is the best and when you stick to it, you can make it in trading faster because you get to master the skills more and more. Learning makes perfect and when you’re perfect at it, it becomes stick to you and a knowledge you can never do without. Sticking to one strategy is what most profitable traders are onto and they’ve made it far while using that one strategy. This gives you ample time to become better and become better in your trading. One strategy is enough to be a profitable trader.

One thing many traders do not know is that strategies do fade and we should always have the mindset on developing our strategies so that we don't keep using it even after it had fade up. I have seen different occasions when newbies traders were complaining about why their strategies are not working effectively the way it used to, giving them frequent profits.

Trading is all about learning because the market structure do change often and when we don't work with the current trend, we could make more mistakes than we ought to make. The crypto market is vast and it's not only about making the money but knowing the best time to buy or sell so that we don't incur unnecessary loses just because of lack of information.

[harapan]

A good trading strategy is important, but what traders need to succeed is not an absolute strategy that gives 100% winning or close. 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.

Exactly success can be gotten when all of this factors are considered and put into action,but I wonder why one will spend so much on a strategy that tends not to deliver results.And one thing about trading that I understand this few periods is that,you don't have to do too much when you got a good strategy but being able to manage all of the resources matters in giving you a profound results, which includes risks management as you've mentioned and the rest of them.

[laijsica]

You are right, @op. People keep changing strategies because they are trying by all means to avoid losses, which is quite impossible. Trading requires consistency in addition to the skills and knowledge already acquired. No matter how good a strategy may be, there will still be some bad days when losses are unavoidable.

For those who are still trying to find the best strategy to minimize their risks and maximise profits, they can start with a small capital. Then, over time, when they find what works for them, they can scale up.

Changing strategy will never make you a profitable trader, it is just like one who happens to be jack of all trades and master of none. Keeping up with one strategy is the best and when you stick to it, you can make it in trading faster because you get to master the skills more and more. Learning makes perfect and when you’re perfect at it, it becomes stick to you and a knowledge you can never do without. Sticking to one strategy is what most profitable traders are onto and they’ve made it far while using that one strategy. This gives you ample time to become better and become better in your trading. One strategy is enough to be a profitable trader.

In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy. For example, you may want to buy a currency and you see its future prospects very good, but you are very afraid of losing your capital, in that case, you have to think about what decision you will make and if you follow the process with which you are familiar, you will not be able to apply your capital correctly. The reason for this is that your capital will be in a very risky state and you have to analyze the amount of capital you will apply and what will be the period and you have to change your strategy. To be successful in trading, you have to apply different strategies according to the coins and change the holding period of these currencies at different times.

[EarnOnVictor]

In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy.

You need to clarify this, for I don't see it appropriate, or should I say I see it misleading. I would agree with you if you are referring to having more than one strategy, and then using them interchangeably when one strategy can't read the current market situation. However, if it is about changing your strategy all the time simply because the market doesn't behave the same way, then you are doing yourself no good, as that is called "style drift" in trading. It is not good.

[shield132]

In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy.

You need to clarify this, for I don't see it appropriate, or should I say I see it misleading. I would agree with you if you are referring to having more than one strategy, and then using them interchangeably when one strategy can't read the current market situation. However, if it is about changing your strategy all the time simply because the market doesn't behave the same way, then you are doing yourself no good, as that is called "style drift" in trading. It is not good.

What strategy does someone need besides to buy low and sell high? My opinion is that if you are not someone who can affect Bitcoin's price via directly or objectively, then I can't imagine what strategy will help you to profit. Maybe it's me who is bad in trading but from my experience, weekly or monthly candles are better indicator than hourly or daily candles. When you look at daily candles, you start to believe that you can predict the price but it's very frequent to something unexpected happen and your technical analysis gets wasted. Just trade once in a while and aim to buy low and sell high, that's how I succeed.

[Btcalysis]

In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy.

You need to clarify this, for I don't see it appropriate, or should I say I see it misleading. I would agree with you if you are referring to having more than one strategy, and then using them interchangeably when one strategy can't read the current market situation. However, if it is about changing your strategy all the time simply because the market doesn't behave the same way, then you are doing yourself no good, as that is called "style drift" in trading. It is not good.

What strategy does someone need besides to buy low and sell high?

This mindset put me in trouble last year, it is a newbie thinking. I wish it is as easy as said it. With your simple mode, it simplest way to trade, it cannot know when the time is ripe for the low to buy and the high to sell. You will guess them. This is not a strategy, but a pattern.

My opinion is that if you are not someone who can affect Bitcoin's price via directly or objectively, then I can't imagine what strategy will help you to profit.

No one can control bitcoin. It doesn't stop speculation.

[EarnOnVictor]

In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy.

You need to clarify this, for I don't see it appropriate, or should I say I see it misleading. I would agree with you if you are referring to having more than one strategy, and then using them interchangeably when one strategy can't read the current market situation. However, if it is about changing your strategy all the time simply because the market doesn't behave the same way, then you are doing yourself no good, as that is called "style drift" in trading. It is not good.

What strategy does someone need besides to buy low and sell high?

This mindset put me in trouble last year, it is a newbie thinking. I wish it is as easy as said it. With your simple mode, it simplest way to trade, it cannot know when the time is ripe for the low to buy and the high to sell. You will guess them. This is not a strategy, but a pattern.

In layman's language, I call this strategy the strategy that is tantamount to the "law of gravity and its reverse." Many have used it and regretted it, and it is good that you are sharing this from experience. To say he can sell high and buy low is easy, the consistency of doing that is what he should prove. There is a reason for trading strategies rather than believing in simple principles like that, and if you use your strategy well with serious discipline and management, it will help you when the strategy is good.

My opinion is that if you are not someone who can affect Bitcoin's price via directly or objectively, then I can't imagine what strategy will help you to profit.

No one can control bitcoin. It doesn't stop speculation.

What can I say? At this point, his words are just laughable.

[doomloop]

What strategy does someone need besides to buy low and sell high? My opinion is that if you are not someone who can affect Bitcoin's price via directly or objectively, then I can't imagine what strategy will help you to profit. Maybe it's me who is bad in trading but from my experience, weekly or monthly candles are better indicator than hourly or daily candles. When you look at daily candles, you start to believe that you can predict the price but it's very frequent to something unexpected happen and your technical analysis gets wasted. Just trade once in a while and aim to buy low and sell high, that's how I succeed.

"how", because the logic of buy low and sell high is easy, but people don't know how to pay buy and sell high. What do I mean? Well when it goes down, how do you know it won't go down even more? Or how do you know it was done and will start to go up?

You can't know by just guess work, so you need to have a good strategy, a technical analysis information. Same for the upside as well, like when do you know it won't keep going higher? Or when you know it peaks at the top. That is the most important information because that is going to make a lot of money for a ton of calculations to see where is the bottom and where is the top and that is what we need to study for. Strategy allows you to hopefully find where those places are.

[shield132]

What strategy does someone need besides to buy low and sell high? My opinion is that if you are not someone who can affect Bitcoin's price via directly or objectively, then I can't imagine what strategy will help you to profit. Maybe it's me who is bad in trading but from my experience, weekly or monthly candles are better indicator than hourly or daily candles. When you look at daily candles, you start to believe that you can predict the price but it's very frequent to something unexpected happen and your technical analysis gets wasted. Just trade once in a while and aim to buy low and sell high, that's how I succeed.

"how", because the logic of buy low and sell high is easy, but people don't know how to pay buy and sell high. What do I mean? Well when it goes down, how do you know it won't go down even more? Or how do you know it was done and will start to go up?

You can't know by just guess work, so you need to have a good strategy, a technical analysis information. Same for the upside as well, like when do you know it won't keep going higher? Or when you know it peaks at the top. That is the most important information because that is going to make a lot of money for a ton of calculations to see where is the bottom and where is the top and that is what we need to study for. Strategy allows you to hopefully find where those places are.

You'll never know how much the Bitcoin's price will go down because you are not a whale and you don't control the market, but there is one basic rule, if the price of the coin is lower than its all-time high, then you can buy Bitcoin. I say this because the history proves that Bitcoin always surpasses its all-time high, so when the price is lower than ATH, you are in a safe zone.
Also, when Bitcoin reachs all-time high and the bubble bursts, wait for the price to drop by at least 50-60% and buy then. You have to focus on long-term profits because short-term profits are very hard, daily trading is very hard but trading a few times a year gives you much brighter image about when to buy and sell. Also look at past years' charts, loko what happened after each halving, when was the crash, what caused it and etc.