What are the key points in a successful strategy?

To achieve the goal , you need to design a strategy . Because strategy is the way to reach the goal. Numerous strategies have been designed so far. The difference in strategies stems from the psychological and environmental conditions of the trader.

  1. How are your spirits? Conservative , moderate or bold ?

  2. Which time frame is right for you?

  3. How much equity should we allocate to the transaction?

  4. When to buy and when to sell ?

  5. What are the profit and loss limits?

Answering these questions will put you on the right track. Therefore, all aspects must be considered.

1 Like

I think patience while learning will reveal what works with less effort than chasing it. Building a craft like trading is not like sales where you have to chase and manifest via legwork. This is different

Yes, of course, there are countless psychological factors that make a person a successful trader. As you said, endurance and patience are very important in the performance of the strategy.

1 Like

feel you made good points ,or your source has, i think probably the most difficult thing in trading is when to close a profitable trade.How many times do traders make good profits waiting for trade to hit significant S/R for a few more pips, only for the trade to reverse, then hit the stop loss

1 Like

Yes that’s right. The time to enter and leave the market depends on the dynamic conditions of the market and the trader himself, and by gaining experience in the market and knowing the changing conditions of the market, one can determine the correct time of sale.

That why day traders especially with leverage take their profits before USA close,its less predictable , predicting conditions next session or day even with experience

You are absolutely right on the nail here! The exit strategy is by far the most crucial factor in optimising the overall success in trading. And it is possibly the one area that gets the least attention!

It is possible to get the direction right and enter a trade at a good level - and yet still get a poor result or even worse, if the exit is messed up. And it is just as bad to leave it open too long, being greedy, as it is close out a profitable trade prematurely. They both screw up the overall result over time and turn a good account into a mediocre performer or loser.

The claim that “it is never wrong to take a profit” is very misleading, and can quickly damage the overall P/L returns …

You are quite right on the note that you need to design our strategy. Choosing the right time frame that suits our personality is crucial. The investment basically depends on how much we can afford to lose and a single trade should not exceed more than 2% of our investment.

Sources like you tube and baby pips give examples of how to trade ,when the vast amount of information pointless, no wonder it’s such a high failure rate and rookies are left, like lambs to slaughter

  1. How are your spirits? bold usually
  2. Which 1 hour and 4 hour
  3. How much equity should we allocate to the transaction? Depends on the trade… from 1-10%
  4. When to buy and when to sell - when the time is right :slight_smile:
  5. What are the profit and loss limits? No limit.
1 Like

I liked your answers except for the answer to the fifth question. Determining the profit and loss limit is very important in risk management.

According to me the main thing to consider in a successful trading strategy is risk management. It is important that we analyse all the risks before making a plan. Another important thing is defining goals. Our goal should be clear in our head in order to build a good strategy.