How to Build Your Trading System (Difference Between Strategy & System)

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Most people use the words system and strategy to mean the same thing, and that confusion is a large part of why they never become consistent. Your system is the fixed process you follow every time, from the whole universe of assets down to one executed trade. Your strategies are the variable methods you use to complete each step of it. This video explains the distinction properly, explains why consistency has to come before profitability, and finishes with an exercise for mapping out your own system so you can see which step is letting you down.

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ABOUT NICHOLAS PURI:
Nicholas has been obsessed with the markets since 2002. By 2012 he'd made enough trading profits to leave his career in banking to become a full-time trader. That year he co-founded an asset management company and spent 2 years with a team of traders and researchers developing what would become the Duomo Method and Market Theory. Since then, he's worked with top investment banks, hedge funds, fintech companies, and even politicians. The Duomo Initiative is here to share our discoveries with other traders.
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⌚️TIME STAMPS:
[0:00] Why your system decides whether you get consistent
[0:47] What consistently profitable actually means
[2:08] Why consistency comes before profitability
[3:34] System and strategy are not the same thing
[4:45] A system is a fixed process, not a list of rules
[5:37] The funnel from every asset down to one trade
[6:59] Where your strategies fit in
[8:03] What, why and how
[8:59] Why confusing the two stops you improving
[11:44] The exercise to map your own system