How long did you take to develop your approach | Forex Factory

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How long did you take to develop your approach

  • #1
  • First Post: Mar 7, 2024 7:07pm Mar 7, 2024 7:07pm
Hello

I am wondering how long it took people to develop their overall approach to trading, wether in theory first, or through learning in practise.

I will share my story: i first had my own rough ideas and got excited. And now i have been developing everything in theory by talking to chatgpt.. i have had trouble along the way due to miscommunications between me and the bot, but finally have a more or less detailed approach in theory, that i still need to finish to be completely done.. i first thought i would be writing my tradebot by now, but in retrospect i didnt know what i was doing fully yet.. i have been developing in theory for about 4 months, and could be done within a month.. i suspect other people could require a longer time, as doing it on your own or through several sources takes up time.


Greetings Stefan
  • #2
  • Mar 7, 2024 7:22pm Mar 7, 2024 7:22pm
Quoting StefanN
Hello I am wondering how long it took people to develop their overall approach to trading, wether in theory first, or through learning in practise. I will share my story: i first had my own rough ideas and got excited. And now i have been developing everything in theory by talking to chatgpt.. i have had trouble along the way due to miscommunications between me and the bot, but finally have a more or less detailed approach in theory, that i still need to finish to be completely done.. i first thought i would be writing my tradebot by now, but in...
Great man keep it up
  • #3
  • Mar 8, 2024 5:28am Mar 8, 2024 5:28am
Quoting StefanN
Hello I am wondering how long it took people to develop their overall approach to trading, wether in theory first, or through learning in practise. I will share my story: i first had my own rough ideas and got excited. And now i have been developing everything in theory by talking to chatgpt.. i have had trouble along the way due to miscommunications between me and the bot, but finally have a more or less detailed approach in theory, that i still need to finish to be completely done.. i first thought i would be writing my tradebot by now, but in...


We should Probbaly devide between having a approach and a profitable approach with proofen track record.
I had many approaches along the way since 2018, you figgure out what works, where mistakes happen, how to avoid or to reduce them.

Since November 2021 i havent lost a single month, since December 2023 i havent lost a single trading day!
Its a a combination of trial and erros and the experience along the way.
Im Aware there is no finish line, mistakes or losses can still happen, but i would consider my self above average profitable.
To Answer your question, i Took me a little above 3x years to Develope a profitable approach.
1k to 100k Copy Trading All Time Return: 367.9%
  • #4
  • Mar 9, 2024 1:16pm Mar 9, 2024 1:16pm
Quoting Mike3108
{quote} Great man keep it up

Thanks bro! This really boost my mood.
  • #5
  • Mar 9, 2024 1:18pm Mar 9, 2024 1:18pm
Quoting Thomas.
{quote} We should Probbaly devide between having a approach and a profitable approach with proofen track record. I had many approaches along the way since 2018, you figgure out what works, where mistakes happen, how to avoid or to reduce them. Since November 2021 i havent lost a single month, since December 2023 i havent lost a single trading day! Its a a combination of trial and erros and the experience along the way. Im Aware there is no finish line, mistakes or losses can still happen, but i would consider my self above average profitable. To...

Definetly.. i was talking about getting all the theory down on how to do it.. it is yet to be proven during testing and then during live trade..
  • #6
  • Mar 9, 2024 1:47pm Mar 9, 2024 1:47pm
Quoting StefanN
{quote} Definetly.. i was talking about getting all the theory down on how to do it.. it is yet to be proven during testing and then during live trade..
If you would ask me, i would say in my case its a combination of creating a higher timeframe bias and then adjusting your trade management to each setup individually based on that higher timeframe bias.
I have Tools to create that higher timeframe bias like the Vix, DXY and SQQQ, based on that i adjust my trade management to each setup individually, the Key being leaving some room for error (trade management or price averaging)

Thats just what i do, i honestly dont think you can build a generall theory on what it takes to build a successfull approach.
Someone that trades my strategy and approach can have diffrent results from me, there are a Lot of variables to consitency and success in trading.
1k to 100k Copy Trading All Time Return: 367.9%
  • #7
  • Mar 9, 2024 2:54pm Mar 9, 2024 2:54pm
Quoting Thomas.
{quote} If you would ask me, i would say in my case its a combination of creating a higher timeframe bias and then adjusting your trade management to each setup individually based on that higher timeframe bias. I have Tools to create that higher timeframe bias like the Vix, DXY and SQQQ, based on that i adjust my trade management to each setup individually, the Key being leaving some room for error (trade management or price averaging) Thats just what i do, i honestly dont think you can build a generall theory on what it takes to build a successfull...

I was more so talking about in the context of a algorithmic tradebot. But for each approach its different.. and offcourse it has to be proven in practise.. like for example i am now stuck on finding a reliable and affordable news sentiment tool that works with ongoing scores, and additionally has historic data for back /out of sample testing.
  • #8
  • Mar 9, 2024 2:58pm Mar 9, 2024 2:58pm
Quoting Thomas.
{quote} If you would ask me, i would say in my case its a combination of creating a higher timeframe bias and then adjusting your trade management to each setup individually based on that higher timeframe bias. I have Tools to create that higher timeframe bias like the Vix, DXY and SQQQ, based on that i adjust my trade management to each setup individually, the Key being leaving some room for error (trade management or price averaging) Thats just what i do, i honestly dont think you can build a generall theory on what it takes to build a successfull...

Which seems to be similar to what you are describing.. so factors that influence outcomes bevond the direct scope of the strategy.. in fact vix scores are a part of some news sentiment tools data they use for the score.. correct me if im wrong.
  • #9
  • Mar 9, 2024 9:14pm Mar 9, 2024 9:14pm
Quoting StefanN
Hello I am wondering how long it took people to develop their overall approach to trading, wether in theory first, or through learning in practise. I will share my story: i first had my own rough ideas and got excited. And now i have been developing everything in theory by talking to chatgpt.. i have had trouble along the way due to miscommunications between me and the bot, but finally have a more or less detailed approach in theory, that i still need to finish to be completely done.. i first thought i would be writing my tradebot by now, but in...
Until I read Laura T's Roadmap thread.
All you touch and all you see, is all your life will ever be.
  • #10
  • Mar 10, 2024 6:04pm Mar 10, 2024 6:04pm
roughly took about 2.5 years. Had lots of revisions but I’m sticking to what I have now till it breaks
SKQT - Super Kool Quant Trader
Daily Remy All Time Return: 5.6%
  • #11
  • Last Post: Mar 13, 2024 2:22am Mar 13, 2024 2:22am
Letting winning trades run is key! I've definitely been there when a trade dips a bit before going my way. Patience is tough, but it can be worth it. I wouldn't add to a losing position myself, but re-entering at the exit price sounds like a smart strategy.
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