Originally posted by Bogdan G. For the full review click here
My view on how a good trading strategy looks like. What should you look for in a strategy?
Did you ever hear a guy saying something like: “Hey, what was your strategy?” and the other guy replying “I placed a Call on Oil”. There are guys for whom buying a Call or a Put is a strategy. Although this is not literally wrong, I don’t think that a trading strategy is limited to that and I could never look at it this way. Instead, I consider that the strategy is the reason behind my purchase of the Call or Put and it has to contain predetermined conditions that need to be fulfilled for me to enter into a trade.
The strategic conclusion
The importance of a reliable strategy is crucial if you are serious about making money out of trading. But equally or even more important is your mindset and your psychological approach of this business. My greatest “Eureka!” moment was when I realized that a good strategy is not all you need; you also need to put in the work and train yourself. Yes, the path is difficult but ultimately, rewarding. Whatever you do, make sure to stay away from scams and don’t give your hard earned money to guys that promise you incredible and easy to achieve wealth. Avoid them at all costs and think about this: if you had the Holy Grail of strategies, would you tell it to everybody? Probably not…so don’t assume that some guy, a self proclaimed “expert” will just hand it to you for a couple of bucks.