Fat Pig Signals logo

Why You Should Stop Strategy Hunting Now!


One major problem that many new crypto traders have who are struggling to achieve profitability is that they are constantly searching for the holy grail of crypto trading strategies, thinking that it will change their lives without doing much work.

Let's get this straight right now: The holy grail of trading does not exist. Therefore, the sooner you stop looking for it, the better for you!

You may now wonder how to achieve profitability when your current crypto trading delivers negative results. The key to understanding this is to start thinking about your process and how to optimize it rather than the strategy itself. With the help of Fat Pig Signals Crypto Signals, you can boost your performance tremendously. Since it's mostly not just about trading, but also about leaving emotions out, giving away responsibility "a little bit," and there are more ways to profit in the crypto market.

Instead of looking for a winning strategy, you need to figure out how to turn your current plan into a winning strategy. This is often one of the main differences between amateurs and professional traders.

Your Trading Journal is the Key

Do you record all your trades in a proper journal where you meticulously record everything relevant to the trade? That's the number one requirement. Without a trading journal, you are simply helpless when analyzing your trades.

The essential requirements for a good trading journal include:

  • Entry price, stop loss and take profit levels.
  • The strategy used and triggers for entering the trade
  • Confluence factors
  • Describe your thoughts and emotional state when you entered the trade
  • Is there anything you don't like about the trade?
  • Position size and risk management
  • A snapshot of the chart

If you keep a trading diary with all this information, you can quickly go back and find out what worked for you and what needs to be changed. Remember that a profitable trading strategy is not "found" but built step by step. For example, Fat Pig Signals has been rebuilding its trading strategy for over five years now and always manages to top their performance using the "Yellow Ball"!

Remember that you should usually record at least 50-100 live trades in your diary to get a statistically valid answer on whether your current trading system is working or not.

With this in mind, it becomes clear that there is no way to build or improve a trading strategy if you keep changing it. The reason is simply that you don't have enough trades to determine whether or not the strategy is profitable in the long run, nor do you have enough data to know what needs to be changed to make it worthwhile.

Don't Change the Strategy if You are Losing Money

You must be aware that markets are constantly changing for your long-term trading success. There will be periods when your strategy works exceptionally well, followed by periods of poor results. This is inevitable and happens to everyone.

What is essential then is what you do during the phases when the results are not good. Know then to expect weeks/months/years (depending on your trading timeframe) of negative or break-even results at regular intervals. An excellent example of this is the Bitcoin Cycle, which has lasted circa four years each in the past, including Bull and Bear Markets.

During these periods of disappointing returns, you must stick with your system. Unfortunately, far too many traders have changed their strategy to find that it would have become profitable again shortly afterward.
However, the reality is that it is tough for people to maintain a trading strategy for extended periods, especially if it lasts for months. There is a concept called emotional capital in trading psychology, and long bear markets deplete emotional capital.

Emotional capital is just as necessary as trading capital in your account when it comes to trading. If you run out of either, you will fail as a trader. Therefore, you need to have confidence in your trading strategy, crypto signals, and the entire trading process. You need to know what to expect and know yourself well enough to assess how much and how long you can emotionally handle a downside.

Finally, remember that perseverance is the key to success. With everything else in life, success does not come easily.


Related Articles

7 Reasons Why You Lose Money In Crypto Trading

7 Reasons Why You Lose Money In Crypto Trading

As a new crypto investor, I have made many mistakes when trading cryptocurrencies that have cost me a lot of money. This article will explain the various errors that many new or even experienced traders and I make when trading these ultra-volatile assessments.

Hot Tips to Start as a Crypto Trader

Cryptocurrencies trading has become a booming investment recently. While many investors prioritize cryptocurrencies, there are some hot tips to start as a crypto trader that they should consider before doing so. Trading to Make a Profit The following tips will help you make profits in the cryptocurrencies market in the long term. Here are the hot leads […]
How To Trade Cryptocurrencies Successfully In 2022

How To Trade Cryptocurrencies Successfully In 2022

Crypto trading has been possible since 2009 - so to speak, with the creation of the Bitcoin emerged, the first cryptocurrency on the market, which is also often referred to as the mother of all cryptocurrencies.
PHISHING WARNING: Please make sure you’re visiting https://www.fatpigsignals.com. There has been an increasing amount of scammers and Impersonators. Please verify the handles carefully as well. Admins will never contact you selling investment products or a fund.
Official Admin Contacts: https://t.me/dad10 and https://t.me/gangplank123