The world of forex trading as we all know has evolved so much in the last 10 years, and as traders we all undergo a process to learn how to trade so we can generate some great money 6/5/ · It breeds consistency. By having rules, you can train yourself over time to recognize and have automatic responses to certain situations. By training yourself to react automatically, 27/2/ · It breeds consistency. By having rules, you can train yourself over time to recognize and have automatic responses to certain situations. By training yourself to react automatically, The answer: Consistency. Most of you know that is Arnold Schwarzenegger in the picture to the right, Arnold personifies the fact that consistency pays off physically, mentally and ... read more
If you want to learn to trade forex, stock, futures find yourself a forex mentor if you want to fastrack your trading progress and save time. Learn to trade forex by focusing on yourself and our trading. Yes, you can do that if you have gambling mentality! But if you are serious about your trading business, you must play the long-term business. That means you do not plan your trading on the next trades, but over the series of trades, over the next trades with specific process parameters.
Only after you have made at least 10 trades following the same process parameters you can go back, and analyze your past trades and decisions. Now you can understand your consistency is not result over just a few trades, but over larger number of trades. You should not judge your trading results and performance after trades made following your trading plan process , but after you made at least trades following the same trading parameters and rules on each and every trade you took.
Same thing we can say for your own trading — Do not ask another guy about your consistency. Make your own consistency. If you have a passion for your trading, learn to trade forex and try to become the best trader possible. Simply apply consistency to your trading. Applying consistency have a lot to with how YOU think, feel and decide later. In other words, we can agree YOU must be in the right state of mind to be able to focus and execute your trading process everyday without errors, distractions and mistakes.
When you show up everyday and you put all your effort to execute your process and routine correctly day after day, week after week. To be able to execute your process and routine without errors, distractions and mistakes you must do a lot of work outside of trading. Your goal should be always to put yourself in right state of mind before you even switch on your trading computer.
How you eat, sleep, exercise , breath, prepare for the day… all those things are foundation for your mind and body. Once you have your foundations right, you will be able to perform much better trading the markets and executing your trading process without losing any focus. There will be periods of drawdown. There will be periods when you will wait days,weeks for good trading setups and your patience will be tested. There will be days where markets will change conditions. There will be days when you just do not feel good due other life events.
All those periods are where most traders lose their focus, patience, discipline and break their consistency. That is why you must train your mind and body to always try to stay positive and focus just on your trading process no matter what.
Not straying from what works for you, and manage your emotions. How can YOU expect to achieve consistent profitability trading the markets, if you are always in different mood with inconsistent process over the trading day? If YOU are not consistent with your process everyday, inconsistency will just show in your results. Fundamentals drive the trend in the long term, whereas chart patterns may offer trading opportunities in the short term. Whichever methodology you choose, remember make sure your methodology is adaptive and your system should keep up with the changing dynamics of a market.
By effectively managing your risk on every trade you can begin to forget about the money. This means setting your risk tolerance at a dollar amount that you are truly okay with losing on any trade. You will not feel any pressure or emotional tension if you truly do not care if you lose the money you have at risk on a trade.
Of course, achieving consistency is easier said than done. But by creating a process and setting trading rules for yourself, you can achieve consistency in your execution, which is the first step to becoming a consistently profitable trader. Human emotion is unpredictable and that the future is unforeseeable; there are no certainties in market behavior and this makes trading a game of probabilities.
Having a set of rules, versus none at all, helps you frame the forex market to build your system and make good trading decisions in the face of that uncertainty.
With time, deliberate practice, and experience, these rules will lead to a natural feel for the market, great trading habits, and consistent profitability.
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To use MetaTrader 4 Terminal For PC, iOS, Android, and MultiTerminal for PC, please connect with our trusted broker. Click Here to Register now. If you have any questions please contact Live Chat Or email us at [email protected]. The world of forex trading as we all know has evolved so much in the last 10 years, and as traders we all undergo a process to learn how to trade so we can generate some great money consistently.
We are all aware that what constitutes success in trading involves a process from a great trading system , risk management, psychology, structure, planning, execution and managing. Before you enter any market as a trader, you need to have some idea of how you will make decisions to execute your trades.
Some people choose to look at the underlying fundamentals and then use a chart to determine the best time to execute the trade. Others use technical analysis ; as a result they will only use charts to time a trade.
Fundamentals drive the trend in the long term, whereas chart patterns may offer trading opportunities in the short term. Whichever methodology you choose, remember make sure your methodology is adaptive and your system should keep up with the changing dynamics of a market. By effectively managing your risk on every trade you can begin to forget about the money. This means setting your risk tolerance at a dollar amount that you are truly okay with losing on any trade.
You will not feel any pressure or emotional tension if you truly do not care if you lose the money you have at risk on a trade. Of course, achieving consistency is easier said than done. But by creating a process and setting trading rules for yourself, you can achieve consistency in your execution, which is the first step to becoming a consistently profitable trader.
Human emotion is unpredictable and that the future is unforeseeable; there are no certainties in market behavior and this makes trading a game of probabilities. Having a set of rules, versus none at all, helps you frame the forex market to build your system and make good trading decisions in the face of that uncertainty. With time, deliberate practice, and experience, these rules will lead to a natural feel for the market, great trading habits, and consistent profitability.
We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on Log in. Be a Step Ahead! To receive new articles instantly Subscribe to updates. LATEST TRADING ANALYSIS. Forex Broker Forex blog How to Reach Consistency in Forex Trading × Be a step ahead! Dear user, To use MetaTrader 4 Terminal For PC, iOS, Android, and MultiTerminal for PC, please connect with our trusted broker Click Here to Register now If you have any questions please contact Live Chat Or email us at [email protected].
How to Reach Consistency in Forex Trading The world of forex trading as we all know has evolved so much in the last 10 years, and as traders we all undergo a process to learn how to trade so we can generate some great money consistently.
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27/2/ · It breeds consistency. By having rules, you can train yourself over time to recognize and have automatic responses to certain situations. By training yourself to react automatically, The answer: Consistency. Most of you know that is Arnold Schwarzenegger in the picture to the right, Arnold personifies the fact that consistency pays off physically, mentally and 6/5/ · It breeds consistency. By having rules, you can train yourself over time to recognize and have automatic responses to certain situations. By training yourself to react automatically, The world of forex trading as we all know has evolved so much in the last 10 years, and as traders we all undergo a process to learn how to trade so we can generate some great money ... read more
No doubt, Forex Trade pays off all the hard work but it is a time-consuming process. Let us say you have been trading for the last 6 months on your trading account, and by looking your equity curve you can see you are kind of break-even. In other words, we can agree YOU must be in the right state of mind to be able to focus and execute your trading process everyday without errors, distractions and mistakes. Having a set of rules, versus none at all, helps you frame the forex market to build your system and make good trading decisions in the face of that uncertainty. There will be periods of drawdown.
Others use technical analysis ; as a result they will only use charts to time a trade. Forex Education Forex Concepts Forex Basics Forex Psychology Forex News Forex Trading Forex Strategies Trading Systems Technical Analysis. We are one of the fastest growing Forex Brokers in the Market. A Hurdle for Novice Traders, consistency in forex trading. That is why you must train your mind and body to always try to stay positive and focus just on your trading process no matter what. Regularity, punctuality and consistency in every field ensure success. Recent Posts 44 Maxims of the Successful Trader Learn to Trade Forex 18 Lessons I Learned in 10 Years of Forex Consistency in forex trading to Trade Forex 13 Habits of Successful Forex Trader Learn to Trade Forex Consistency in Your Forex Trading Learn to Trade Forex Success does NOT Come With Trading Account Learn to Trade Forex.