Hello.
I have been trading for 5 years, and this year is my sixth year.
I have been using one trading strategy for 5+ years and it really works well.
Now my question is will it work for me forever?
Firstly, please share the strategy lol, and then, no, even if it works perfectly for a century, you can not be sure if it works good the next day, that is why you always have to follow a powerful risk management strategy.
What I’ve been seeing lately is that any strategy beased on price chart analysis will work really well for a time, and then fail for a time, and then work again for a time and do on in cycles. These can be months or a year but I haven’t heard of one doing that for 5 years per “phase”. So maybe you have something. What sort of strategy is it?
My strategy is all about forex chart patterns.
I use MAs, and master patterns like pinbars and double top to determine the entry points.
(** I use patterns those will be repeated in the future, because these patterns reflects human psychology and it doesn’t change…)
I also use a solid money management rules.
What I say is really true.
My strategy made 150+% every 5 years.
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In my opinion while your trading strategy has been successful for the past 5+ years, there are no guarantees that it will work indefinitely.
What is a good trading plan?
It is the one that will surely generate profit in the long term, in other words you bet as many as possible.
Money management will ensure that you don’t lose everything before you get the home run opportunites.
Richard Wyckoff’s methods have survived beyond his lifespan. So why not?
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Well done. IMO, just carry on with your successful 5 yr strategy that hopefully you have confidence in. Traders who tinker around with their strategies are on the fast track to losing.
As for will it last forever, it needs an understanding of what is for ever? If it’s unanswerable, then in which case it’s better that you don’t bet the farm.
If it has been successful for five years, it might be effective. You can share your strategy with others. 