@SurprisedMoose
I agree that traders need to find a strategy that fits their personality. For me, I enjoy the shorter time frames with lots of signals so I can be done with it in the morning and not worry about it all day. But I see a lot of people who prefer hourly or longer timeframe charts and like to decide on a 1:1RR or 1:2RR and it works for them. I have gone down both paths and now have settled on what I prefer.
The channel strategy has made me a lot of money and l am still amazed that people lose money doing it. But maybe that lesson is more for me than for anyone else. It shows me that it still boils down to psychology. No matter what rules we make for trading, some will prosper using them and some wonāt. Plus, as you said, the subjective parts take time to perfect. That isnāt a good or bad thing. It just means its ok if we all prefer different strategies.
I am still doing the PSAR Crossover and King. Your concern about the King is certainly legitimate, having no stop loss is usually a very advanced trading style. I do use a SL on it in case of catastrophe although Iāve not ever needed it. Since I almost always win the trade (make money when they are all closed) King still makes sense to me. But I do not trade with large lot sizes. My experience is that I average 10 open trades before closing them all out when price finally returns to the ema. With King, I could be done trading for the day after an hour. But its not for everyone.
Letās just say that if you have $10,000 in your trading account, $300-$500/day is not that hard to average with any of these strategies, even with several losses, if you choose to master them. $500 a week is ridiculously easy.
If you want to flip an account, King is the way to go.
I know you will find a strategy that suits you better. If you are like me at all, you will love one and use it for a few months and then chase another one that looks even better, then another one, then another one.
Thatās part of the fun though.
However, my experience of losing for 2 years was not fun. Now, that part is behind me and I hope if it is not already, it will soon be behind you as well. Based on your thoughtful posts, I have no doubt you will be successful.
