Another important point is the propper back testing, as it will save your time and money. As for me, it is one the most interesting things in trading, to define and idea and check it. The first step was to simply look and charts and find situations you are looking for, or to wait for such situations watching realtime data, but know I found out that back testing software is much better. Of course, it has to have a possibility to start testing from any specified period of time (the main feature).
By the way, it is very important to read as much, as possible. Start with basic things, then move to certain details. While reading about the strategy that someone use you can find an interesting idea that can be applied to your own strategy. Try not to just study the strategy, but to define it`s main ideas and principles.