When it comes to choosing the best strategies, most traders are often hoaxed into believing that there's a perfect strategy that works irregardless. The stream of loosing trades that comes after they've purchased or spent alot in implementing the strategy contradicts this. Well that's true for the most part. Indicators on the other hand, considered to be lagging, depending on the way they're used can be of great help but also misleading to some point. I once read an article that said to learn, we must unlearn what we've learnt. The way we're used to using indicators may or may not be the correct way they're to be used. Now most people have indicators in their strategies for confluence. I can't for sure say that that's right or wrong because trading isn't about what you see, it's about how you see the markets, and how you interpret that info. It's also about how you handle yourself before and after trades. Your reactions to the outcome of any trade, be it a winner or a loser. So whatever the things that make up your stategy, its all up to you to decide. Because what works for you might not work for me for obvious reasons. Intensively testing a strategy to find out if it works or not before trading in the live markets is the best way to ensure that you understand what you're doing. Its also one way train yourself to take responsibility of whatever outcome the trade you've taken brings. So when you place a trade you always know why you're doing it.
Let me know what you think in the comments section.
Let me know what you think in the comments section.