The importance of having YOUR OWN strategy - Page 349
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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 01:24 PM.

  2. #3481
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    Quote Originally Posted by mexima View Post
    according to my experience having your own strategy means knowing about marker 100% if you borrow some one else strategy means you will not know every thing about strategy like what should you do on news time or data time, how to recover loss if you loss .. but if you make your strategy means you will know every thing because you know how to made it and how to update that particular strategy .
    when we try to use someone others strategy so its issue for us, actually we people can not survive with this thought, when we try to follow other one we can not earn mostly because we just copy method but every strategy have some parts, we must need to know about management and some personal behavior as well, if we do not have these we can not survive and can lose all remaining money as well

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  3. #3482
    Trader cutiekc's Avatar
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    Those who has their own trading strategy are more likely to do good in trading, because when you have your own trading strategy, it means that you have the ideas of how the market works for you, it means that you have the right trading ability. Those traders who don't have their own trading strategy often gets to trade without right trading understanding.

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  4. #3483
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    It is important and demanded for the trader to have their own trading strategy, this will help the trader in good decision making and good form of executing their trades, when the trader don't have their own trading strategy, then it could mean that they are gambling and being confused, the market is a lucrative business and owning a strategy is one of the best way to getting the trades right.

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  5. #3484
    Trader Senorita's Avatar
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    All we can do to move forward is to create a working system that we can rely on and see that better profits is continuously made. It's very important to have that system of your own and to come up with this, I advice building one from the the demo trading account. This is where you can prove your system and consider to start trading live with it. It's very important to create a system and its side a good one to manage this profits.

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  6. #3485
    Trader Sascha's Avatar
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    Quote Originally Posted by Senorita View Post
    All we can do to move forward is to create a working system that we can rely on and see that better profits is continuously made. It's very important to have that system of your own and to come up with this, I advice building one from the the demo trading account. This is where you can prove your system and consider to start trading live with it. It's very important to create a system and its side a good one to manage this profits.
    creating a working trading system is a must thing to do but we can do that later after we can gather the rest knowledge with many parts that included in our system. trading strategy simply tells us how to trade with specific terms and patterns in market so we can use them as our signals or ideas to trade. the best part of using our own trading strategy is to have better insights about it as we know how our strategy works best in specific conditions in market.

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