What New Traders Need to Keep in Mind When Developing Their Own Strategy

[this_is_ando]

Really nice post, so could you please link your systems to check them for better understanding? Thanks and happy trading

[Adolfson]

Nice!!! Well you have the chance to travel outside

[playwiththegods]

Thank you for doing this member spotlight. I learned so much from it.

Thank you @Alg626 for taking the time to sharing some of your life story, and your experiences in trading. It’s inspiring for a newbie like me.

[cashisking86]

Really good read. Crucially every trader that is developing a strategy needs to understand that their strategy is THEIR strategy. It doesn’t matter what others are doing as they are doing what suits them. Understanding this helps people to avoid falling into the trap of paying people to give them a ready made strategy out the box as this rarely works.

[Thebeezneez]

@this_is_ando

Really nice post, so could you please link your systems to check them for better understanding? Thanks and happy trading

Found them. You can click on anybody’s avatar, load their profile and activity, and then see what topics they started.

My Price Action Trading Strategy

Thanks for the words. I trade as many positions as my risk allows, which is usually anywhere from 5-8 unprotected positions. I may lower my lot size as well to help with risk. No limit on %, why would I not take setups the market gives just because I’m up a certain %. I don’t force it but will take good setups when they come. I haven’t ran across where all the pairs have a setup, I may not even trade a certain pair for a few months. Also why I watch as many pairs, since I try and be patient w…

My Momentum, S/R trading system

Hope all is well. I’ll try my best to explain everything and how I view a trade set up. Feel free to ask questions and bounce ideas off one another. Look forward to some opinions and different views. First thing is… *I identify Support/Resistance(S/R) off the daily chart and color those lines green. *Identify S/R off the 4HR chart and color those lines blue. *I use two indicators RSI and MACD. MACD I keep the settings default. The only thing I change on the RSI is the 70/30 lines, I change t…

@Alg626 Very inspiring to see you go live so quickly!

[Alg626]

Thanks guys, sorry been busy the last couple days.

I mostly use my price action system now. But feel free to ask any questions about either strategy.

[Alg626]

Thanks, it certainly has been a journey with way more to come. Feel free to ask any questions you may have.

[Alg626]

Yes if you can’t make it your own then I feel there never is any conviction in your trading.

[just_kelvin]

Please can you give me a guide on how to develop my own system

[Alg626]

Well it’s really just taking something that’s existing and making it yours. It may not be yours as far as built from scratch but more of making it yours. In a sense that this is the one I’m going with and it suits me and my personality.

I would start with some questions.

• How much time do you have to look at charts each day?
• Do you want to hold trades for minutes, hours, or days?

That kind of builds the type of trader they may be suited for you. But don’t stress trying to fit into this box of what a certain type of trader should be.

[playwiththegods]

I’ll reach out if any questions come up. Thank you.

[just_kelvin]

Okay sir
Thanks you so much

[momo3HC]

The most important thing to keep in mind is to not risk what you can`t afford to lose.

[no_frame]

That was quite a read. Loved it!

[livingformoney]

This really a nice one to one article, I always love to read these type of articles, good job @Jess and @Alg626 your journey is really incredible, thanks for sharing with us. Good luck for future trades you make!

[Alg626]

Thanks for the kind words. Good luck yourself on your trading journey.

[neredryn]

I try to choose more appropriate strategies for my budget, which I have at the moment. I’m not raising the bar, I’m trying to improve my trading tactics.

[dudebro]

Two great strategies you’re sharing there. Thanks for sharing those and your progress with the community.

[epeedescent]

Nice post. It is very helpful for the new traders to keep in mind when developing their own strategy. It is very important to do your own research and stay disciplined when trading.