Why do people keep changing their methods?

[Kevin1744]

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.

 

[Dora_WalletInvestor]

Are you sure they change methods because their doubt their current strategies? 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.

 

[rickfx]

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.

There are a number of reasons.
but I'd highlight these 2:
1. People get over-confident (thinking they learned everything)
2. Some people get bored easily so they need to change to something new

 

[sharabela]

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.

I agree with you that it is not a good idea to change our method of trading, which has been consistent for us. I do not mind to test new strategies, but I try my best to stick with my old one with what I have been making money.

 

[Dora_WalletInvestor]

There are a number of reasons.
but I'd highlight these 2:
1. People get over-confident (thinking they learned everything)
2. Some people get bored easily so they need to change to something new

I think it could also be the opposite of No.1. Maybe sometimes people try different strategies because they want to learn more and gain more experience.

 

[e_abrams]

The market is different in different circumstances and traders have to adapt to it. There is no point in chasing after the same method under any and all circumstances.

 

[no_frame]

Are you sure they change methods because their doubt their current strategies? 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.

I think it could also be the opposite of No.1. Maybe sometimes people try different strategies because they want to learn more and gain more experience.

Agreed with you on this 100%
People changes their strategy because they realized that they used is no longer working and they have to make some adjustment so that it can be more effective. Think of food, we keep trying to experiment with other spices and stuff so that it can enhance or alter the flavor.

 

[HeavenLeighGill]

At times it could be beneficial to change, but it isn't a good idea to do it simply because of boredom. If changing up the strategy is the best thing to do for a particular type of trade or if one has more or less time to spend online then it would make sense to consider switching things up.

 

[aligaber]

At times it could be beneficial to change, but it isn't a good idea to do it simply because of boredom. If changing up the strategy is the best thing to do for a particular type of trade or if one has more or less time to spend online then it would make sense to consider switching things up.

totally agreed.

 

[AaronTruth]

Because those strategies are losing them money and also want one that is high in its winning rate that is why I call my eBook RSAI Blueprint Strategy: The Last Strategy You Will Ever Need. The winning rate is around 98% now in the past 2 months.

 

[Fried_Rice]

You can't use 1 method for all market conditions (the infamous holly grail). A strategy should be adjusted to match the market.

 

[jimcarter]

Most traders change their trading strategies regularly to find the best one for them. Some traders may change their approach based on new information they have discovered, while others may try different methods to improve their overall performance. There are a number of reasons why traders might switch strategies. Still, some of the most common reasons include:

Finding a better way to trade: Some traders may find that they are making more mistakes with their old trading strategy and decide to try something new in order to improve their results.

Improving your overall performance: Sometimes, traders may switch strategies to achieve better results overall rather than focusing on specific areas of their trading program. This can include changing from day trading to swing trading or vice versa or trying a different method, such as technical analysis.

Adapting to the market conditions: The market can change rapidly, which can affect any trading strategy that is based on assumptions about how the market will behave. For example, if you are relying on certain technical indicators or trends to make your trades, you may need to adapt your strategy if those indicators no longer apply.

 

[CapitalStreetFX]

I think traders are daily changing their strategies because of the daily market updates. Every trader chooses their own path and applies it in the market.

 

[Marco877]

Since there is nothing like a fixed rule on trading; so traders need to upgrade their trading style! In addition, which traders try to follow a fixed strategy here, end of the day they face a huge loss!

 

[alzheimer]

Since there is nothing like a fixed rule on trading; so traders need to upgrade their trading style! In addition, which traders try to follow a fixed strategy here, end of the day they face a huge loss!

Yes but still a trading plan should be there. You can review it time to time but shouldn't go into extreme case making your trading absolutely flexible, i.e. trade without a trading plan at all. This is called gambling.

 

[AstroBoy]

Yes, a trading plan is important and you should follow it. But as well, if you are not changing anything and keep following your strategy without changes - you will loose in the vast majority of cases. You grow - you earn. Especially, when it comes to market or government regulation. I was a big fun of crypto trading bu when the government closed access to almost all crypto exchanges I had to find a way how to save my money and keep trading it.

 

[Fxbid99]

Changing trading strategies is a good thing as a trader learns more through them but the trader should be able to identify perfect scenarios for every strategy. Trader should not change trading strategies unnecessarily.

 

[Haruto]

Since they are not getting a sustainable result in their trading; basically the market is dynamic, no doubt on it! But till now Price Action trading, Supply/Demand trading is working here so smoothly!

 

[volta]

just focus on your method, and do back test to see the result

 

[abi211gail]

Lots of reasons : Lack of confidence, FOMO, not enough experienced, etc.
But at the same time, one should realize that good things takes times, if you have time and capitals, maybe try different types of strategies in different accounts, test out a bit to see what methods suits you the best, of course, demo account is also an option for gaining experiences