How can I develop/design my own trading strategy?
At first glance, there's nothing difficult in designing your tailor-made trading strategy, but there are certain things that have to be observed, such as skill level, knowledge base and experience level. Experience usually corresponds to the skill level, and these variables are interconnected. However, having broad expertise doesn't always mean trading skills' possession. The quality of your trading prevails in this case, i.e., how you run through hardships, whether you pay neat attention to your mistakes or not, how you deal with the stress and emotional burden, etc.
Developing the strategy should be based on your overall understanding of the market, and you are obliged to realize that the market is tangible for you. If you know how different events in the political or economic spheres influence price fluctuations of certain assets, how to define proper entry and exit points, how to interact with core trading instruments such as support/resistance levels(zones), various patterns like head & shoulders, flags and so on, then you have an image how the market behaves.
Fundamental data and its research is another vital point for creating a good trading strategy because sometimes traders are sure that if they are trading intraday, then fundamental data shouldn't be counted. It's not exactly like that. Core fundamental things such as the financial state of affairs of this or that country, in case you are fond of trading equities or commodities, are crucial to be denoted. It's also frequently helpful for crypto trading because price fluctuations can be caused by the instability of base and quote currencies.
So, strategy development should include all these parameters listed above if you want to design the one that will help you maximize profits and cut risks. Then, everything goes to your strategy . You need to pass through all mandatory account verification steps and start analyzing the market by applying different indicators, observing patterns and scrutinizing macroeconomic data.
