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Thread: The importance of having YOUR OWN strategy

  1. #1
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    The importance of having YOUR OWN strategy

    What do I mean by that?

    Of course, you can take one of gazillion strategies, offered by the internet, but still there are a lot of variables in trading that should be taken into consideration.


    First, what is a strategy?

    This is a combination of trading system (discretionary or mechanical), capital management and position micro-management (should you hold your winners, when to filter your trades, when to add to your position or to cover some of the risk)

    I guess, the last one is one of the most important things (position micro-management).

    You can have absolutely wrong directional bias, but still make money.


    There are coulple of examples:


    I trade with short-term strategy and spot very small imbalances. My friend is a swing trader, and we have different perspectives on the market.

    I bought twice, covered quickly and made some money:

    Attachment 740


    ...while my friend at the same time went short and made money on his trade too:

    Attachment 741


    This example shows relative importance of position management comparing to directional bias.

    Peter Brandt, one of the most successfull world traders says: "I may think I know, but in reality I don't know".

    To manage your position properly, you should know your trading niche.

    Are you a swing trader? Are you short-term momentum trader? Are you a position trader?

    Your trading niche must be selected considering your ability to manage your trades (you should have enough free time to follow markets or have psychological ability to trade short-term or to have guts to hold your winners e t.c.) Know more about it here

    Make some research and explore - what you can do on the marketplace. That will be the most rewarding experience in your trading.

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    Last edited by Value trader; 12-03-2013 at 12:24 PM.

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    Rookie layigold's Avatar
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    Having a trading strategy of your own helps you to be focused as a trader , you know what you want and what exactly you are looking for on the chart . Just like some of my colleagues in the forum have said , there is need for one to allow hos experience to guide him in getting a suitable trading strategy . By s doing , you will be yourself and not just a duplicate copy of another person . What gives you as a trader high sense of self confidence is having a trading strategy you can call your own .

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  3. #3442
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    Quote Originally Posted by layigold View Post
    By s doing , you will be yourself and not just a duplicate copy of another person .
    but in startup we can not do this we must need to follow an expert for learning basics when we know how to use tools and how to use all trading then we can do good, then we can make own strategy but make sure you have good skills in trading and have some good strategy to earn here, when we follow other some time we can earn also but we do not know what strategy other one is using so its issue, we should work hard to get success here

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  4. #3443
    Rookie Sascha's Avatar
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    Quote Originally Posted by touqir View Post
    but in startup we can not do this we must need to follow an expert for learning basics when we know how to use tools and how to use all trading then we can do good, then we can make own strategy but make sure you have good skills in trading and have some good strategy to earn here, when we follow other some time we can earn also but we do not know what strategy other one is using so its issue, we should work hard to get success here
    taking advice from experts is the best method beginners can do to help them learn this business easier with less frustration and confusion. i started this by myself by getting small aid from my friend who taught me a little and led me how i can learn this by myself. later after making a lot of mistakes with my own money and blown so many demo accounts, i was slowly manage to create my own strategy and always take notes from my trading.

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  5. #3444
    Trader Sixteen's Avatar
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    Before you could call yourself a trader you must poses what traders should have and one of those thing is a personal strategy. As a trader you need to have a good system for yourself and understand why you should have profitable chance to make profits here. Learning to manage loss can be for our own benefit once we follow the right trade with our system we can always come up happy. We should understand that having our own system is necessary and have every plan to manage the risk we can also face.

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  6. #3445
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    Getting prepared to build a system that will guide you on how to follow this trade will be very much important for any trader in forex. Right here in forex it will be very important that we have a plan to build a strong system that will indeed guide us on the opportunity to make real profits. Having your own strategy can help you as a trader to focus on your ability to create a better plan. Your system should be important and as long as it's strong, it will give you a great means to manage risk and see you can make profits in the best time.

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  7. #3446
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    Quote Originally Posted by Tonycee View Post
    Getting prepared to build a system that will guide you on how to follow this trade will be very much important for any trader in forex. Right here in forex it will be very important that we have a plan to build a strong system that will indeed guide us on the opportunity to make real profits.
    we need to plan a system but it looks like easy but its not, for doing good trade we need to get good knowledge this is also not easy step, with this when we do some demo practice we can learn many things, with these good and bad points we mix them and make strategy strong, so its depend on trader, i believe we can get success if we have good plan, if we work fine with demo and real both for learning and earning

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  8. #3447
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    Quote Originally Posted by naeem555 View Post
    we need to plan a system but it looks like easy but its not, for doing good trade we need to get good knowledge this is also not easy step, with this when we do some demo practice we can learn many things, with these good and bad points we mix them and make strategy strong, so its depend on trader, i believe we can get success if we have good plan, if we work fine with demo and real both for learning and earning
    everything is easy if we work hard, if we learn we can make it easy but if we do not learn, if we do not have skills then we can not learn, so it can be easy for us if we work hard to learn, for learning choose a single strategy do not be confuse in multiple, but from your account it seems you already have some good experience so its better thing, you also should give us tips for good results

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  9. #3448
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    Quote Originally Posted by altafch View Post
    everything is easy if we work hard, if we learn we can make it easy but if we do not learn, if we do not have skills then we can not learn, so it can be easy for us if we work hard to learn, for learning choose a single strategy do not be confuse in multiple, but from your account it seems you already have some good experience so its better thing, you also should give us tips for good results
    If we work hard and serious then earning can be simple but if we have wrong mindset or unrealistic expectations than earning will be impossible. We need to just make sure that we ourselves are not such gamblers and trade with a strategy and increase our skills to use that strategy. The strategy which we understand deeply and find simple to implement will be the better or best trading strategy for us.

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  10. #3449
    Trader cutiekc's Avatar
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    On my own facet, having my trading strategy has made me a better trader, in such a way that I get to see the market differently and my decision are way more better now in the sense that I don't follow the crowd, I know what the market is doing, I get to make my analysis and then I get to take action as needed. so therefore having your strategy makes you disciplined.

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  11. #3450
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    A system is needed in forex and building our very own system will give us our personal way to trade the market and build a solid way to make profits from forex. Once we can take our time to learn and create a system we can manage, it will give us the chances to which we can earn from our trade. It's very important we plan well to handle this trade and know how we should build the best trade that will take us to the next level.

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