What is important in Trading?
Successful trading is a combination of many things. Most important factors of trading r trader and strategy. There can be many other minor factors.
We often hear that "this" EA or strategy can make u successful. But many traders fail and only a very few number of traders can use that strategy successfully.
It makes me think that strategy is actually not an important thing. Its all about trader.
On the other hand many experienced traders r struggling to become profitable in forex. Many traders with years of experience r unable to make profit consistently.
I think trader can be successfull if he is using his own strategy and his own experience. But traders trying to user other strategies and EAs then they r actually trying their luck.
The good or ill of a man lies within his own will. – Epictetus
I havnt seen anyone trading successfully by using someone else strategy. I dont know why. Coz if a strategy is working for one trader then why not for the other?
Well, it is a confusing question. If we have to choose most important, I would go with trader. But both r close. The confusion is that strategy or a system is usually a mathematical and statistical analysis of market. It is not possible that mathematical analysis generate two different results when used by 2 different traders in same way. For example when a strategy produces a signal then a trader takes action.
There can only be one difference in my opinion. It can be of intuition. Maker of a strategy may not execute some of the trades even though strategy is generating signals. It means that maker of the system knows about flaws and limitations of the strategy whereas other traders keep using it as if it has no flaws.
I think that is a big reason of difference in results when same EA is used by different traders.
Stick to your rules
Trader and trading strategy r equally important. A trader cannot succeed without strategy.
there are many things . i think perfect strategy ,proper money management , controlling emotion is most important to be become a successful trader
the abilty to control my emotions and not overtrade is impoetnt when i trade.
Learning from the mistakes.. Its the only way to make success in this field.. when you will start working on your mistakes then your mistakes will soon start to decreasing and your winning will increase... this is why expert forex traders always pays a extra view on their losing trades
I think EA is not a successful way to trade or make profits and for a trader it is important to trade manually and form their own strategy on the basis of their skills and abilities.
the best way is to trade manualy with a strong strategy.the EA's will not work well always.specialy as of these days the markets are not stable.most of the robots will fail since they are just programs they cant predict future.
Originally posted by ermaniso2011the best way is to trade manualy with a strong strategy.the EA's will not work well always.specialy as of these days the markets are not stable.most of the robots will fail since they are just programs they cant predict future.
Any EA might be able to generate some profits for a while but I do not think that any EA would be able to make consistent profits for month on month so it is always better to trade manually .
Strategy is important - and whether you stick to it - that part is the trader. EAs are unable to stick to as complex signals as humans are able to, and instead rely on indicators, but if you were as robotic as an EA, with the pattern recognition system of people you would be consistently profitable. People unfortunatelya affected by market rumours, headlines, other trader decisions. I would think that the wealth of information on the internet has actually made people trade worse, as opposed to better.