Kardec TraderFutures Trader. Creator of The Midas Touch. Mentor

Stop jumping to every new trading strategy out there! 🚫

28 Oct 2023 · 1 min

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0:53

The speaker (Kardec Trader) warns against "strategy hopping" — repeatedly abandoning trading strategies after brief success. He acknowledges traders should maintain multiple strategies for different market conditions but stresses the first response when a strategy fails is to diagnose why (market regime change vs. strategy mismatch) rather than immediately switching. Frequent hopping prevents fully developing a durable trading edge.

Chapters

Strategy hopping. Now I see so many traders they find an edge, they find a strategy that works for a week, works for two weeks and the moment that strategy doesn't work the first thing they do is they go on and look for the next strategy. Now I do agree as a trader we have to have multiple strategies. We have to have strategies that fit and work under certain market conditions and we know how to respond to. But if you do have a strategy and it stops working your first job should be to understand why is this strategy not working. Did the market shift directions or is the market not catering to this particular strategy? But most traders they don't look at that, they just go well hey I'm not making money doing this. I'm going to go and look for something new. And what ultimately happened is you hop from strategy A, B, C, D and you never allow yourself to fully develop an edge like you should as a trader.