WHY DO PEOPLE KEEP CHANGING THEIR METHODS?

Kevin1822

Newbie
2 0
I see that there are a lot of people who have been in the market for many years, who have very good and very wide knowledge, they know many trading methods and many of them are really good.

But it's strange that they still keep changing the method they're using, it's obsolete, no, it's because they don't persist in pursuing any method to the end, they just want to experiment and find more because they always doubt their own current method.

And I believe they will stay like that forever and can't be stopped for a lifetime.
 

sebking1986

Well-known member
288 87
Personally I like my trading to be boring so if it works for me then why change it? If I want excitement I'll go and take up an extreme sport!
 

trendie

Legendary member
6,878 1,430
I think it's boredom, mainly.
Or, also the smaller time-frames, which allows you to ponder all kinds pf reasons to second guess your method into a trade, when you should just sit tight, and do nothing.
Doing nothing is a difficult skill to master, as we are taught at an early age that we need to actively engage to do well or to make anything happen.

I would equate " to experiment" with "curiosity".
 

Jungletrader

Member
83 14
Could be boredom possibly?
Also some may find that the Markets change slightly so a once fruitful strategy nay need to be updated or swapped out completely.
Strategy hopping isn't advisable
 

WalletInvestor

Active member
127 35
I think it's not necessarily because of doubt or lack of persistence. From what I have seen, people often switch strategies because their goals change, or their life situation changes and they suddenly have less or more time to spend on trading than before.
 
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pipfighter

Junior member
37 7
I think it's not necessarily because of doubt or lack of persistence. From what I have seen, people often switch strategies because their goals change, or their life situation changes and they suddenly have less or more time to spend on trading than before.
Agreed!
With the changing needs, strategies do change and it's pretty common in the world of forex trading.
 
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pezza55

Member
64 20
I think your trading method adapts over time, I don't think there's anything wrong with that. Your overall strategy may stay quite static but the way in which I have analysed charts has changed a lot. I prefer a clean and simple chart nowadays whereas it used to have so many indicators it looked too busy.
 

NVP

Legendary member
37,786 2,110
I see that there are a lot of people who have been in the market for many years, who have very good and very wide knowledge, they know many trading methods and many of them are really good.

But it's strange that they still keep changing the method they're using, it's obsolete, no, it's because they don't persist in pursuing any method to the end, they just want to experiment and find more because they always doubt their own current method.

And I believe they will stay like that forever and can't be stopped for a lifetime.
no idea .....i havnt dramatically changed my approach to forex since 2001 ...still all good

N
 

LuckyMac

Member
73 19
I think this is one of the biggest issues facing traders. They see the next shiny strategy and decide to go for it. Best to hone a strategy and to stick with it. It is the only way to be successful trying to spin too many things at once will ensure you succeed at none
 

sharabela

Member
73 11
This is what happened with me as well. I used to trade on 15M time frame. I made some excellent trades and I was in good profit. Then, I thought I may apply the same strategy on H4 chart. It would give me more time to relax. I do not have to spend as much time as I do if I trade on 15M chart. Guess what my strategy did not work at all on the H4 chart. Then, I tried on H1 chart. That did not work out as well. All of a sudden, I found myself I lost my confidence and I could not trade as well on 15M chart as I used to. To sum things up, people want more. We want more money, more free time, more freedom. This may be the reason people keep changing their strategies.
 

Henow1969

Well-known member
312 41
People test new methods because they want to make a lot of money in forex and if a method does not work for them they should change to another method and try to become successful with the help of a new method.
 

peto

Established member
971 113
I change method when I'm not making money. Currently on Method # 2,731.
Currently I'm using the same method to fine tune it to perfection. When perfection has lost me twice as much money as usual then I'll move on to #2,732.
PM me if you need some advice on choosing unsuccessful strategies, I have some I can offer free as loss leaders, others I would charge for.
 
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lotsea

Junior member
16 1
I do not find any valid reason behind changing a method that is working fine for you and earning you a profit. A few traders may get bored by their proven method and hence the change. However, many traders try to improvise their method for increasing the winning rate. It is a good practice to back-test new strategies on your demo account even if your current method is performing well. That will make you ready with a backup plan.
 

J Livermore

Active member
166 54
I change method when I'm not making money. Currently on Method # 2,731.
Currently I'm using the same method to fine tune it to perfection. When perfection has lost me twice as much money as usual then I'll move on to #2,732.
PM me if you need some advice on choosing unsuccessful strategies, I have some I can offer free as loss leaders, others I would charge for.

The market is like a flu virus -- as soon as you think you have it pegged, it mutates into something else. --- Wayne H. Wagner
 
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