CCS Disease is a disease many new traders are afflicted with and it can be fatal!! CCS disease is short for "constantly changing strategies". Certainly, I firmly believe that a trader must find a trading strategy that fits both their personality and the time they have to trade. However, once you find a strategy that you like, imho, you must back test the heck out of it!!. Figure out how it responds to different market conditions, is it a strategy that can only used when the market is in a range or trending, can be used before news, after news. How big of a stop is needed, How far will it run... trade parameters are essential but more importantly, Build confidence in your strategy. without the confidence that your strategy will work, you leave yourself susceptible to the psychological terror the market can cause. I have tried alot, probably well over a 100 strategies in my trading career. the truth is that if I would have properly back tested then and stuck with them I would have been successful sooner. if you test a strategy and it has an 75% win rate (which is pretty damn good), that still means you will lose 25% of the time. Unfortunately, it does not mean that out of 100 trades your first 10 won't be losses and which point you give up and move on. Been there, done that. So I would urge you to back test your strategy so you have at least 100 trades and then forward test the strategy for at least 100 trades before you change.
I hope this Helps, stay green my Friends Allen
** The Above chart is an example of how I document my trades-- every trade. I also use a spreadsheet to keep track of the data.
Seriously, I have just been trying different strategies but losing big and gaining little. Building confidence is the key because I get really scared and quickly opt out but then I have made loses. It's getting really frustrating but I will not back down
AGold54
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@wstream19, You are not alone, like I said in the post it is a problem a lot of traders, including myself, have at one point or another. Might I suggest thinking about how you want to trade and find a strategy designed for that. let me know if I can help :)
wstream19
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@AGold54, thank you... I need all the help I can get right now because I have tried several strategies but gain a little and then lose big. I moved from day trade to swing trade but I want to bet back to day trade.
JosefPfister
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Yeah, I agree with that. I have been searching and trying out different strategies looking for the right fit only to find that experience is a sure loser. Win sometimes lose big one time is enough to ensure loses are greater than gains. Confidence in a system with simple but effective rules is key to success.
AGold54
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@JosefPfister, it is ahrd to find a strategy that fit's but also have to be mindful not to take one or 2 losses and ditch it.