There is no one strategy that fits all.
Of the millions of strategies out there, there is no one strategy that fits every person. Part of your evolution as a trader is to identify and practice the strategy that resonates with who you are as a person.
Your personality defines your trading strategy, your goals and what you want out of your trading career.
- A strategy has to be adapted to develop your unique style.
- Example: You are not comfortable taking overnight positions while someone else might be more than eager to take a gamble overnight. That could be because he works the night shift and can watch the markets from his toll booth. That might mean that you gravitate toward scalping while the other guy chooses swing trading.
Its important to stake out your identity—that’s why good traders are often headstrong people.
- A trader cannot successfully use several different trading strategies…its too much for the mind to manage.