Ok, probably not what you'd typically read for return but nevertheless equally and in many cases significantly more important! I get the following question routinely by those who are 'stuck' in retail perspectives.
'If my strategy works, why should I change it?'
Well, I don't teach strategy. I know that may be a bit of a contradicting statement but to be clear, I teach how the market moves at the granular level. That is my intent and objective and while that's easily reached, it becomes a strategy by default. The importance is the education on the subject with intense focus while the returns directly related to investments in time can be realized in monetary value.
But back to the question, why change strategy if it works already? Well, that's relatively easy to answer.
Reduce Risk - Strategies that analyze the charts to predict include risk from almost every angle and while your 'strategy' may be profitable, it's inevitable that through cycles it will stop working.
Improve Accuracy - If your strategy realizes or experiences 20% failure rate or more, the losses are in fact contrary to your objectives. The expense of loss leaves your trading business in a constant struggle.
Transparency to Discovery - The majority of issues traders experience come from one place, awareness. It's awareness that relates to the perspective you maintain. In most cases, traders risk comes from the devastatingly flawed parts and sub-parts in price action. While we think that price action is timely, it forces us to analyze a an isolated chart thus minimizing our view to a mere 9-12% maximum perspective on the global market. This isn't just problematic, in most cases this is precisely why retail traders consistently fail to find success. On the other hand, maintaining a global perspective directly delivers us the intelligence and market transparency to know precisely why each candle prints it's following price quotes as it follows the global market dynamics.
So why improve strategy? Reduce risk, increase accuracy and gain true insight into the next move while knowing the granular details of how the market moves at the micro-structure level!
Well said and appreciate your infinite knowledge!