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  1. #1
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    How to win consistently profitable in Forex trading?

    How to win consistently profitable in Forex trading?
    Attachment 20344
    Most of traders will think that achievement in Forex trading depends fully on the system or trading strategy you use. In fact, it doesn’t. What it actually depends on, the foundation upon which true winner as a trader is built is your mindset and psychology – how you think and feel about the Forex market and how you react to it.


    There are many websites trying to sell some indicators and robot-based trading system I won’t tell you this. Because of, they want you to believe in their products and that you could make money with them. That’s the source of most of the stories you listen to about trader who attempt Forex trading and lose money. They come into the market with unrealistic. They make a mindset that pressures them with the need to make a lot of money in short time and end up trading emotionally.

    Discipline
    At first you need to know is that trading is a discipline. It is a long-term game of probabilities, you will win some trades, you will lose on some trades. But as long as you a disciplined enough to fully stick to your trading strategy, to not be emotionally attached to your losses, or worse your wins. You will be apt to make more winning trades than losing trades and nit a profit.
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    Mastery
    You need to understand what your trading strategy and you need to expert on it. You have to know it inside and outside. Also, have absolutely no doubts about that the market needs to look like before you risk your money in a trade. You have to become a sniper. Once the market conditions match your strategy criteria then you should place your trade without hesitation.
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    Risk Management
    Always manage your risk on every single trade. The moment loosen your control above your trades. You allow emotion to steal in and before you know it, you are in a downward spiral of emotional Forex trading and losing trades. Only take risk the money you are prepared to lose in per trade. In fact, you should go in expecting to lose on any given trade.
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    Plan
    You need to be very passionate and always you have a trading plan and journal to track your trades. Think of Forex trading as a business rather than placing a bet in a casino or gambling. Invest with your calculator and not your heart and keep cool in your dealings with the market.
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    Conclution: There's risk in every trade you take, but as long as you can measure risk, you can manage it. Forex trading market is always risky .Never Let a Winner Turn Into a Loser.

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    Quote Originally Posted by cutiekc View Post
    Most of the time, what we need is actually higher discipline. The knowledge has been there for sure, but when we add to it being disciplined. I am sure we will become successful. Because what consistency means in forex trading is to keep on doing the thing that we have done in the past that has made us money. That is what it really means and when we can keep to that consistency, we have the success in our name.
    You said it well, that is what we need to win of all times. Because in some cases, some traders wins and then they find it hard to win again, because they must have changed the rules to the way they trade because of the previous winnings they have gotten. Therefore we should always make sure to have a stable rules abiding trading method.

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    Quote Originally Posted by sniper007 View Post
    You said it well, that is what we need to win of all times. Because in some cases, some traders wins and then they find it hard to win again, because they must have changed the rules to the way they trade because of the previous winnings they have gotten. Therefore we should always make sure to have a stable rules abiding trading method.
    Yes many of us can make good profits but then fail to retain these profits. This happens either because we dont understand the trading well or dont follow the necessary rules. So if we learn and gain experience in forex, we can make forex a great source of earning. Every addition of experience can add to our skills and Forex knowledge.

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    The word foundation as it is been mentioned here depict the basis on which we are starting the forex market and the experience we have at the very beginning of the learning of the forex market and in support of what you have said, i can say that whatever success we are going to make from the forex market is not going to be based on what trading system that we use as traders but as a result of what our trading foundation is all about as trading the forex market without a good foundation will have a lasting negative effect on our final output at the end of the day. Trading system alone does not win trades from the forex market , but having a very solid foundation will give us a great edge over the market.

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    Winning consistently is truly every traders dream but the truth is that its not an easy journey to reach such heights. You must dedicate good time to learn and follow great process that would see you make great income all the time. We all have the opportunity to become successful in this market but we should be more hardworking and plan well to see we can achieve success. There is no easy cash anywhere and better planning is what will help see we improve for good.

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    When a trader has a good trading plan and he is disciplined to keep to his trading plan come what may, it will be easy to make some consistent profits from the market. Most of the time , lack of having a good trading plan is one of the reasons why a lot of traders are trading the market without any form of direction and when direction is lacking, it is always very easy to derail . Self discipline is very important to become a successful trader in a market like the forex where nothing is stable for any reason. The principle of money management will equally work in the hand of a trader that is disciplined. If most of these trading factors can be kept to it will be easy to make money in the market.

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  7. #46
    Registered user Killer_Queen's Avatar
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    Quote Originally Posted by azaharul View Post
    Discipline
    At first you need to know is that trading is a discipline. It is a long-term game of probabilities, you will win some trades, you will lose on some trades. But as long as you a disciplined enough to fully stick to your trading strategy, to not be emotionally attached to your losses, or worse your wins. You will be apt to make more winning trades than losing trades and nit a profit.
    i know exactly why you put discipline in first place dear friend. it is because you are believe discipline takes the key of success compared to other aspects of trading. without having good discipline, no matter what we are going to do all of them will work in decreased quality. in return all we would get is frustration. winning this business consistently does not always mean we need to make 100% winnings. actually consistent to me means we able to minimize the risk and loss few then make more profits.

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    It's a good one to keep winning constantly but before you reach this stage you must have a very good experience and have a great money management skills which will surely help you to manage your trade and win always. Forex is a trade filled with risk and its high time we as traders understand why we should improve and make a good trade. There is no easy way to make profits and its only when we put in time to learn well that we can make success in forex. Let's stick to our rules and follow the right discipline to see we trade rightly.

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    disciplinary, master, plan can give you a good amount of profit but it can not give you any guarantee to beat the market every time because it is a risky market in which you are mostly learn from your losses when you can accept it you are being an expert in your work and becomes successful due to these three qualities which give you quality trades.

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    Having a good mindset about this business is the main thing we should do. We must believe we can be success from this business. With this good psychology we'd able to do things more precise and harder since we're always stick to our plan and believe our ability in trading. Well this takes progress and progress takes time. We should patient enough to wait while learning this business and make a lot of practice with demo account.

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    rules made to be followed, not to be broken

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    It's our prayer to see we make steady wining in our trade and for this to happen, we need to create a profitable system. If we take time to make a good trade, then it will be a good one for us and we can surely make good profits in the best time. For us to succeed, we should learn well and take time to develop a great system which will help us to make profits often. Forex is good and better learning is a good way for us if we want to win.

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