first i drifted and did not use my strategy
and the losses started to accumulate
then i made a pause and went back to the main strategy and things looked better
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Thank you for that one sentence of information. I feel enlighted. Great thread. Keep up the in depht work.
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Your post is meaningful but don’t need to show off your trading result! It’s your personal asset! Don’t show here and there!
people are making millions and nobody says show of
those are few bucks here and there
no need to be critical
What was the reason behind to change your main strategy initially?
wanted some improvement
Hum, now I got it! It’s a good try! By the way, nice to know, your current status of trading; keep it up!
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A trading strategy is definitely a must for a trader. Strategies enable a trader to set boundaries , objectives and risk tolerance . Without a trading strategy you are sure to lose out . Trading without a strategy lets emotions come in the way of trading. Hence whether one is an experienced trader or a beginner , a trading strategy is a must for success.
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No trader can achieve success if he trades without a trading plan or strategy. Having a strategy before you actually start to trade helps you to trade rationally and the decisions taken are logical and less overpowered by emotions. Also, not just making a strategy is important but following it till the end is also required. Do not waver as a trader. Sticking to your strategy is the key as proven in this thread.
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Have a trading plan. Stick to the trading plan. That is all.
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The best thing is tolearn constantly and change your strategy. Often the market changes unpredictably and you do not need to bend your line, as this will lead to losses. Need to adapt and change the strategy according to market changes. That’s why top-traders are billionaires, they always change their actions like cardplayers and are always ready to follow the trend (or even create it) …
So at the end which one you chose to be with?
@Tygralanim I am so with you on this. Not that I am harboring ambitions of becoming a billionaire but I strongly believe and have experienced also, that making slight changes in the plan as per the market conditions, always works in the favor of the trader.
Losses happen when there is miscalculation or an entirely unpredictable move occurs. This by the way can happen anytime.
The same thing happened to me. I also lost a lot due to a lack of strategy. But when I chose the right strategy I had no problem making a profit.
Yes, true. It’s always better to stick to a strategy that’s been thoroughly tested. Especially the exit strategy, faltering from that can lead to overtrading and that can have consequences on profit ratios.
I know. Trading without a strategy just doesnt help. We have to keep formulating them as and when needed for profitable results. Also, when framing new ones one must always back test them on a demo before putting them on live.
Did the exact same thing 2 weeks ago, HUGE MISTAKE!
I agree with you. It is initially important to practice various strategies and see what works for you. It is also vital to stick to the strategy for some time as constantly changing your strategy won’t give you the desired and consistent results.
I had read somewhere that through sticking to one trading strategy in sickness and in wealth, you will be keeping yourself in the opportunity flow and the subsequent frequency of wins and losses and I must say, this is the reality. Sticking to the strategy has given me the best results till now.
I believe that it’s really important to stick a strategy for traders, however you can spend too much time on its creation and testing. I’m sure that there are no one strategy which has been showing good results for a very long time (year or more). Traders have to understand that if they managed to elaborate a cool strategy which helps them to bring more money then it doesn’t mean that it will work in a couple of months. Thus, traders should always create several strategies, pick the one and after it expires choose another one, and what is more important here is testing all of these strategies on a demo.