Trading Strategies
In layman’s term , perhaps the best definition is that trading strategy is a plan of attack or game plan. We need game plan in all perspective - football matches or any other sports , businesses and so on. Incidentally at point of writing I received a note from Rosalind Gardner , a popular and successful internet marketer about game plan. See how important game plan or strategy is in every aspect of life ?
In trading we need strategies to guide us in our trade execution. Trading is not an instinctive game. Rather , we need to follow a predetermined set of conditions before any final decision or trade execution is made. In the usual case , strategies include some conditions like setup , signals , entry and exit , risk management and so on.
There is no one set of best strategy that fit all traders. I have tried to use a very successful strategy that was developed and used by a trader friend of mine. Surprisingly the end result was a …
