The success or failure of a transaction is not determined by technology but by strategy, and every successful transaction stems from the appropriate trading strategy. When to open a position, when to close it, when to wait and see, and how to manage trades are all confusing for loss making traders. For example, a trader who studies technical analysis may know the support and resistance levels, but without entry criteria, implementation plans, and position control, everything is in vain.
Trading strategy is generally a core component of a mature trading system, which requires long-term practice to take shape and gradually improve and mature.