Customize your strategy

We need to customize or personalize our strategy. Every person needs his own understanding of the market and price. That's why we don't get success by following other's strategy. Without customized strategy, long term success in trading is not possible.

It is important to personalize your trading strategy in accordance with your trading requirements if you really want it to work for you.

I also prefer to build and use my own trading strategy. Every person has his/her own agenda. So, customize your strategy in your own way of trading.

Customising your strategy works for some trades. For others, it is okay to make use of an existing one.

That is a viable option. Some traders do that to get a better approach while some tend to use the pre existing ones.

If you want to become a good and professional trader you need to have a plan to deal with the losses. If you can deal with the losses it is possible to overcome the loss and make a profit from this market.

Try to improve your strategy continuously. Don’t think that your strategy will work all the time.

Absolutely agree with this statement.Trading strategy is like a rifle: yu've got to know it perfectly well in order to use it in the most efficient way. Trading strategy shouldn't contradict your personal vision of the market. Like there are many traders that I know who don't understand how some of the trading strategies work, but they implement them and manage to earn some money. However, I feel that it cannot last long because one day they will face with the situation which they won't be prepared for. More than that, every trading strategy should be improved regularly because the markets are changing all the time, so, if you want your strategy be efficient in earning the money, you have to do some alterations in it all the time. Surely, it is impossible to do if you don't know how your strategy works.

If I want to be successful in the long run, I have to make it worth it. I have to develop a strategy and move forward in trading without getting help from others.

Strategy should always be modified according to the alterations of the market. There are no ideas which work all the time on the market, tendencies are changing all the time.

Everybody should modify every trading strategy according to their needs and personalities. The same trading strategy can work differently for different people and in different market situations. That is why a trader should create his own trading strategy in order to know its strong and weak points perfectly well and how the strategy cooperates with his psychology.

Naen posted:
Everybody should modify every trading strategy according to their needs and personalities. The same trading strategy can work differently for different people and in different market situations. That is why a trader should create his own trading strategy in order to know its strong and weak points perfectly well and how the strategy cooperates with his psychology.

Yes. You are right.

skihav posted:
I believe that if something works well, then it should not be changed.

This is so true. Like ive known so many that had profitable strategies and then for some reason add an extra indicator or they decide to go to another timeframe. It baffles me. If you have something that works stick with it. Otherwise why would you want to change

I believe that a trader should be ready for the next market move since the market is unpredictable and should customize the strategy and trading plans according to the ongoing market conditions.

UweMoench posted:
We need to customize or personalize our strategy. Every person needs his own understanding of the market and price. That's why we don't get success by following other's strategy. Without customized strategy, long term success in trading is not possible.

Took a while but certainly found this to be very true, and was the break through in my trading.

Surely, every trader should have his own trading strategy basing on his personal qualities and psychological pecularities. In spite of the fact that there are lots of trading strategies described in different forums and on youtube videos, however, such strategies may be inconvenient for you personally and you will have no options but to modify it according to your needs.

If you have your own strategy in use, it is pretty simple to make small changes without actually changing the core of the strategy. You can customize it to become unique to you. All you need is a little bit of knowledge about the process and some practice.

A trader should know when to get out of a trade. A trader should be able to cut their losses quickly, knowing that they’ll also have the ability to bounce back quickly. Always customize your strategy to fit your personal needs.

Customers need to understand what they want. Customers need to ask what they want. They have to build the platform as per their demand. It should be easy, effortless and efficient for the customer to solve problems. Basically work in customer service.