Why do people keep changing their methods?

[Kevin1822]

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.

 

[Farm Yard Forex]

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]

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]

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]

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.

 

[pezza55]

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]

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]

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]

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]

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]

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.

 

[steveday76]

If what you do works then stick to it. I would only changing if results weren't great.

 

[J Livermore]

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

 

[peto]

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

In that case I should go into isolation from it, better for my health wealth and sanity. Won't happen though. Is there a jab available?

 

[Inquisitor]

T

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

That only apples to those who don't know how to trade or what they are doing when they do trade.

 

[J Livermore]

T

That only apples to those who don't know how to trade or what they are doing when they do trade.

Even the best traders in the world hit losing streaks and find difficult periods where they can’t form an opinion on what the market will do next.

 

[peto]

Even the best traders in the world hit losing streaks and find difficult periods where they can’t form an opinion on what the market will do next.

Indeed. Despite my many excellent trading attributes I hit just such a period around 1985 ( a few weeks after starting to trade) and it hasn't ended yet, although I'm confident it is just about to.

 

[IceThor]

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.

Because people want instant results.

 

[Inquisitor]

Even the best traders in the world hit losing streaks and find difficult periods where they can’t form an opinion on what the market will do next.

Define "losing streak" as there are traders out there who rarely have more than two losing days in any given month.

 

[J Livermore]

Define "losing streak" as there are traders out there who rarely have more than two losing days in any given month.

I am not trying to evade the question but in order to define a losing streak, the time period of holding a position and the size of each loss and profit would have to be known.

Someone who had nine successful trades in a row then took a loss on the tenth trade that wiped out most of the previous nine trades’ profits shouldn’t be lauded.

There are successful traders who pick more losers than winners. If the size of the wins overwhelm the losses then they still can be very profitable. Some traders are happy to win only 33% of the time if the few trades that win are on the large size.

By any chance are you talking about arbitrage type of trading? That’s the type of trading that carries the least risk with the most chance of success. Unless your leverage gets beyond control that is.

In further thinking about your question, I’d have to say it’s more about the flow of money in/out of the trading account and not the number of winning/losing trades. However, I am curious about the style(s) of trading you are referring to.