Is it necessary to develop one's own trading strategy?
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Thread: Is it necessary to develop one's own trading strategy?

  1. #1
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    Lightbulb Is it necessary to develop one's own trading strategy?

    As we come across the writings and suggestions of the trading Gurus, they are seen repeatedly suggesting the traders to develop their own strategies which does have many benefits, such as:

    It would be compatible with the nature of a particular trader.
    It would ensure that you yourself are responsible for your profit and loss and won't search for scapegoats in times of loss.
    It would make you in your self a developing organism as a trader, thereby making your strategy better day by day.
    It would make you self sufficient and independent.

    Do these things actually exist or are these simply idealistic things?

  2. #2
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    The answer will be yes we have to build our own strategy in forex there are many reasons behind this because if are following any trader's strategy then we have to keep many things in our mind like is that strategy well tested or not, is that trader making good profit by his strategy or not, is risk and reward ratio system is well enough or not in that strategy

  3. #3
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    Quote Originally Posted by ravian View Post
    As we come across the writings and suggestions of the trading Gurus, they are seen repeatedly suggesting the traders to develop their own strategies which does have many benefits, such as:

    It would be compatible with the nature of a particular trader.
    It would ensure that you yourself are responsible for your profit and loss and won't search for scapegoats in times of loss.
    It would make you in your self a developing organism as a trader, thereby making your strategy better day by day.
    It would make you self sufficient and independent.

    Do these things actually exist or are these simply idealistic things?
    Buliding own trading strategy make trader trade flexibility and trade in wisely. I agree that in other thread that many professional trader such as george soros, buffet have their own trading scheme and trading characteristic. Because the professional always buil their own trading system and trading strategy

  4. #4
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    It is the only reasonable ways for survival in the forex market, and doing trading in the manner that is making you to understand your work gives you the best shot in the market. If you have your own trading strategy, you will be independent, and you will be sure of the next steps you will take in the market all the time.

  5. #5
    Any strategy has to be developed and the introduction of the new variable fit any new events and always every experience, whether good or bad they are learned and take advantage of them whenever and wherever we learned this was a new element for the development of a strategy for us to reach even better stage

  6. #6
    No brother that's not very necessary that you have to make your own strategy even you can follow other person strategy also but you have to keep in mind that your own strategy will be well tested and well reliable rather than other's if you want to follow other person strategy then you need first a very good testing and practice of it so don't forget that

  7. #7
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    Quote Originally Posted by ravian View Post
    As we come across the writings and suggestions of the trading Gurus, they are seen repeatedly suggesting the traders to develop their own strategies which does have many benefits, such as:

    It would be compatible with the nature of a particular trader.
    It would ensure that you yourself are responsible for your profit and loss and won't search for scapegoats in times of loss.
    It would make you in your self a developing organism as a trader, thereby making your strategy better day by day.
    It would make you self sufficient and independent.

    Do these things actually exist or are these simply idealistic things?
    I will suggest you only one thing, and that is to try all the trading systems that you think that they will meet your mental harmony, if you think that some trading systems will work for you then try them in demo accounts and then extract the most common things that work fine and you think that they will help you, then create your own trading system in the light of that extract.

  8. #8
    I think that a self developed or customized trading strategy is certainly advantageous for the traders over the trading strategy that which is taken directly from the forex market. Customization for sure brings the trader with good income when they are trading in this highly risky forex market. Developing ones own trading strategy certainly is advantageous.

  9. #9
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    it is necessary to have our own trading system and then develop it, and it is better than use another trading system or follow someone for trading, this way will give more understanding about forex trading and learn to accept the results with full of responsibility
    these are steps to make them to be a mature trader

  10. #10
    No matter which type of trading you are doing many trader's like to follow other person strategy too but all we know need a very good demo testing first about any of our trading strategy only after a very good demo testing we can decide that which kind of trading strategy is best for us I personally suggest everyone to make your own trading strategy that will give you less bad trading result and you will able to grow trading experience too

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