A trading strategy can be described as a set of rules that help traders determine when to enter a trade, how to manage it, and when to close a trade. Trading strategies can be very simple or very complex. Traders who use technical analysis will find it easier to define their entry/exit rules, while traders who use fundamental analysis may find it a bit difficult because there is more discretion involved. No matter what, every trader should have a strategy ready as it is the best way to achieve consistency and help you accurately measure your performance.