I think that one is a good sentence
changing strategys can be harmful for you in trading but you have to know that strategy that you are sticking on it must be a really good one
if you have a bad strategy for 5 years and dont change it you are going to make big losses
Let’s split this into two categories - whether the strategy is mechanical/automated or whether it is discretionary:
A mechanical/automated strategy or system does not require any greater input from you other than strictly following the rules. In this case, set it up on a demo account and run it for, say, 6 months across a number of different instruments and see what happens. If it looks promising then try it live. But remember that past results are no guarantee of future results! Also, market characteristics change over time and no mechanical system is right for every situation in every market all the time…unless, of course AI changes all that! 
Most traders, though, use strategies that require some discretionary input from the trader themselves to a lesser or greater extent. And it is here that the issue gets complicated…
We all talk about strategies but, in fact, whether a trader is successful or not depends much more on the trader than the method being used. It is often said that a good trader can make money even with a poor strategy whereas a poor trader will not succeed even with the best strategy. And I believe this is true.
If a group of traders all use the same discretionary strategy they will all end up with different results. So the critical issues lie elsewhere than just in the strategy itself.
So I would suggest that instead of mastering a particular strategy and sticking with it, one tries to master oneself as a trader and sticking with that!
These trader-based issues include learning patience, discipline, reading market conditions, selecting the most suitable instruments, deciding on the most comfortable timeframes and durations, understanding risk and money management principles, recognising when not to trade, etc, etc. It is these qualities that achieve consistency in a business that is based on probabilities.
Just some thoughts…
That’s a good but a really general sentence as well.
It takes a lot of time to find that trading strategy, do not think that after passing 2 lessons of Baabypips you can develop your own!
I wanna rewrite your sentence:
Create your own trading strategy (based on your own budget and personality and expectations) develop it over time and …
Therein lies the problem. Will a single strategy be able to maintain profitability. I think it’s possible, but market conditions are always changing. The strategy needs to match the market.
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I think you can not pick a trading strategy! There are no trading strategy shops that you can go to and pick one that suits you!
You need to know that you have to learn a lot, you can read, you can try demo accounts, and things like that.
I do not believe in that sentence since I am using one main strategy and at the same time I am using different ones to make small profits. So do not stick to the one that you have and do not pick it from Youtube, twitter, or even forums. Grow it by yourself!
Best Luck/
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Look into support/resistance based trading strategies, it’s relatively easy to identify key levels on the daily chart. If you find these levels in confluence with i.e. daily EMA’s, fibonacci levels, trendlines, etc… and find entries with candlestick patterns then you have a good basis imo.
Most difficult is to have your emotions in check and get consistent results, patience is a big thing.
Good luck.
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thats exactly what im strugglin with now. EMOTIONS!! theyre overflowed 
Tnx BTW
Exactly! Another thing to consider is how flexible it can be, as the market is constantly changing.
Thanks a lot. It seems interesting at first look, but I’m gonna take a closer look at it.
Sorry for my late reply. Emotions… You’re not alone 
… the book Trade Mindfully - Achieve Your Optimum Trading Performance with Mindfulness and Cutting Edge Psychology by Gary Dayton helped me a lot to improve my trading psychology. Can recommend this, you can find it for free online. Also the books of Mark Douglas are good on trading psychology.
You can stick to a certain strategy provided that it gives you a good return on average. Otherwise, multiple strategies should be used. Sometimes a single strategy doesn’t work wonder on multiple pairs.
There are countless strategies out there and most work to some degree. MACD seems a decent indicator. However, the strategy is of secondary importance while how you manage trades will determine your profitability. If you want to learn check out the scruffy trader you tube vids.
Lol!
How are you going to pick something you haven’t found?
Have you ever found a strategy that has been profitable forever?
im not into readin i prefer to watchin or listenin rather than readin. do U have any suggestions?
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Hey, girl, you gotta read, seriously. It’s important because there are things in books that you won’t find anywhere else. So, drop that guard and pick up some useful books. Trust me, they’re worth it!
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Agree with Emi, I wasn’t a reader for a long time either, but it has improved my knowledge and trading in such a significant way that it’s really worth it. What helped me is to buy an E-reader, most books you can find on pdfdrive for free, you can either download as PDF and read at your laptop or convert them to epub files to read at your e-book.
To answer your question though, you can search i.e. on youtube for: Mark Douglas. The content is a bit older, but he gave interesting lectures on trading psychology and recorded them.
Good luck!
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What did you decide?
I appreciate using multiple strategies because a single strategy isn’t reliable all the time. So, to forecast the market strongly, a trader should use more than one strategy.
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A trader should use more than one strategy for better forcasting the market. I also do this for myself.
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