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Algorithmic Trading - The Secret Of A Winning Trading Strategy [Trading Success]
The word “strategy” has become so overused in our vernacular it has now become completely void of any value or meaning. We live in a world abundant with strategies there are video game strategies, sports strategies, marketing strategies, weight loss strategies, makeup strategies, dating strategies, business strategies, financial strategies, pet grooming strategies, wedding strategies and even potty training strategies.
It’s a shame that “strategy” has lost it’s mojo. There was a time when the concept of strategy was only reserved for powerful and great leaders. Strategic thinking was a product of the brightest and most brilliant minds. After all, history reminds us that strategy allowed Alexander the Great to conquer the entire known world before reaching the age of thirty.
As a young student of Plato, Alexander learned to understand and appreciate the importance of strategy. At an early age, Plato taught Alexander the process of strategic thinking. Alexander implemented it and conquered the world. Alexander realized that strategy determined the outcome of any battle before ever going to the battlefield.
Unfortunately, the importance of strategy is often overlooked, misunderstood or completely ignored by traders. Every day, many traders continue to enter the markets without any kind of coherent strategy. Even traders that are using a trading signal system often do not understand the basis or theory behind the strategy that they use. Other traders often mistakenly believe that their sheer tenacity and persistence will provide them with their winning strategy. They courageously take their hits, accept their losses and persevere, hoping that their next trade will be the winner that will wipe out all prior losses.
It is important to understand that simply changing from one bad strategy to another will not produce a winning strategy. To be successful, a trader must learn to understand the market and to develop a winning strategy based on his or her own knowledge and skill. The essential secret ingredient for a successful strategy is the market theory and the trader behind the strategy. Strategies cannot be developed in a Vacuum. As a business professor, I have spent most of my career studying, researching and teaching business strategies. One common thread that links all successful strategies is that they are all based on a clear understanding of the environment where they will be applied.
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