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Every Trader Needs a Trading Strategy
When you have a good and reliable trading strategy you don’t need to stress about what the markets may do. Whether the Fed is going to raise rates or what is happening in the Chinese economy.
It is natural to be concerned about what is going in the financial world. But unless these things are a specific part of your strategy – they should not affect how you trade.
Life as a trader is much simpler when you are following a trading strategy. This is especially true when you have developed the strategy yourself. You can have confidence that the strategy has been tested correctly and has a positive expectancy.
A trading strategy gives you a structure to work around. It helps you to put market moves into context. Crucially, it shows you when to take profits on winning trades and when to cut your losers.
How to Develop a Trading Strategy
My latest eBook is about the process of developing trading strategies.
This book looks at great traders and their strategies. It provides a step-by-step approach for making your own strategies.
The book contains advice on generating new ideas. The structure of a trading strategy. It also looks at great traders and their strategies.
It covers backtesting as well as forward testing. The book also provides a strategy health check to make sure you are safe trading the strategy live.
Trading with a robust and reliable strategy is the only way that I know to stay calm and rational whatever the markets are doing. By following the steps in this book you will be able to develop strategies that help you trade with confidence.
What is a Trading Strategy?
A trading strategy should be written down clearly.
A good trading strategy explains when to trade and when to stand aside. It has rules defining the size of the position and whether to add to the position. It sets out the markets that the trading strategy can be traded on.
It might have rules identifying any seasonal variations and what time of day trading should occur.
It explains how positions are closed. Whether a stop-loss or profit target is used and how it is calculated.
Take Responsibility for Your Own Trading
This is hard to do. Some people never learn it. They are constantly looking for tips. But if you can take learn to take responsibility it will bring you great satisfaction.
Nothing beats the feeling of a winning trade that you have planned and executed to perfection. A big winning trade can be the foundation of a whole months profit.
A good trading strategy helps you understand and deal rationally with losses. It helps you to not be angry with the markets. It helps you to continue trading with a positive frame of mind because you know that over the long-term your strategy is likely to be positive.
Free Spreadsheet
When you buy the eBook you get a free Excel backtest spreadsheet. This spreadsheet is one of the Tradinformed backtest spreadsheets. These are fairly easy to use and a great way for anyone to learn how to test their own strategies.
Most people already know something about how to use Excel. These spreadsheets allow you to do things like change the market, adjust the timeframe, try different technical indicators. and test new trading strategies. There are loads of free resources on this website on my YouTube Site.
How Do I Get the eBook?
The eBook is available exclusively in the Amazon kindle bookstore. The link to the right takes you directly to the Amazon.com page. I have included the links below to Amazon.co.uk and Amazon.de.
The book is also available in all the kindle stores worldwide, just click on one of these links or search online.
Kindle books can be read on all Kindle devices as well as iPhones, tablets, smartphones and desktop computers.
Amazon.co.uk
How to Develop a Trading Strategy: Create your own Great Strategies and Become a Successful Trader
Amazon.de
