How to stay Profitable Consistently in Forex Trading?

Is it a Myth or a Reality?

www.theforexsecret.com
Most of the traders work hard to find out how to consistently remain profitable in the forex market. In this
article, we will try to find out whether it is possible to find out a regular profit. Besides that, we will use
some tips that may help traders to achieve profits in the markets for the long term.

For the very first time, a trader has to adjust his trading strategy to fit his personality, schedule of their
trading and risk-taking attitude. You should backtest every strategy and its effectiveness should be
measured. But at the same time, you must be conscious that historical data might not be an accurate
representation of future performance. It merely gives an idea that does not guarantee anything.
 When Cause: 01
Some people might be obsessed with
profits, which might ultimately lead to failure.
you crave
Cause: 02
for The turnover in this group of traders is very
high and they might lose their capital.
Profits to Cause: 03
much it Instead of focusing on making a profit try on
learning.

causes Cause: 04
You have to invest your time on how the
trouble market works and learn how the industry
functions.
 Cause 1:

Some people might be obsessed with profits,

which might ultimately lead to failure. Looking for
quick money is one of the obstacles in learning
how to be consistently in profit in forex. To avoid
this, the best way is to forget any unrealistic goals
and targets. The obsession of making lots amount
of money in a few swift trades is very unusual.
Trading too carelessly and over-confidently might
cause you to lose money. Intraday traders who
follow scalping are exposed to this way of thinking.
 Cause 2:

The turnover in this group of traders is very high and

they might lose their capital. According to many
experts to make money first you have to forget making
money. When you set your goal too high, it creates a
lots of pressure on you and it creates the biggest
mistakes for the traders.
 Cause 3:

Instead of focusing on making a profit try on learning. Try to

learn different trading strategies and research which tools are
available for making profit. Try to see which techniques seem to
have sound logic and how they can be used on your own
strategy.
 Cause 4:

Besides all these things you have to invest your time on

how the market works and learn how the industry functions.
The main purpose of this article is to let you know that
never stop learning. Because there are always new things
coming in the market (Strategies and Techniques). The
market is always changing. If you always keep yourself
updated with new things, it will put you in a vantage
position in the trading business.
 Don’t overtrade:
Overtrading might decrease your trade and it is caused by a
faulty mindset as mentioned above.
Overtrading is a result of finding opportunities in the market.
Opportunity does not prevail in the market always but traders
always want them to go there. Sometime trader may not realize it
but that is a point where the deception comes to play. Normally
we can describe it in two way:
1.Trading too often

2.Trading too much

 Trading too often
According to Warren Buffett, you need discipline
when investing:
"You have to wait until you see the fat pitch to swing
at, because investing is a no called strike game. In
baseball, you have to swing at pitches you don't
necessarily like. In business you don't have to swing
at anything.
You can just sit there… and if you don't like the prices
you don't have to swing day after day, after day, after
day, and there are no called strikes. You can simply
wait for that one time in a month when you like the
price, when you really know what you are doing, and
then you swing.
And you only need a couple of swings.“

Warren Buffett was referring to long-term investment.

And if you apply the same principle in your trading, it
will help you a lot. What he tried to say is, you do not
need to make many trades, just making the right one
is enough.
 Trading too much
On the other side overtrading means trading too much. In
Forex, the broker offers significant leverage on their
account. The purpose is to prevent traders from gaining a
significant amount of profit from a small investment.
Which enables brokers to sell their service. In practical
life, you will find beginner traders with a high amount of
leverage to maximize profits but the problem is, they end
up making their actual loss.

The higher the volumes, the more pips it indicates, It is

the engine of profit and loss. But it is the trader’s choice if
he wants to trade a large amount which will be
susceptible to margin calls.
 Lessons that we need
to keep in mind:
• Ensure that you understand the risk
management before you start your
forex business.
• Always try to avoid overtrading and
always test new trading systems in
your business.
 Nobody Makes Profits All
the Time
A million-dollar question is how does a Forex trader
achieve profits consistently? Truth is, it can't be done.
Closing every trade in profit is a myth.

If we want to know how to consistently remain in

Forex profit, let’s face it, there is no universal
solution. If you have difficulty in taking the loss, you
may also struggle with forex. Sometimes successful
traders with long term experience face loss around
30% in their trade
 Always be organized

A lot of things have been discussed about trading discipline.

Everything starts with your trading routine. You should develop a
trading plan to cover your activity. Sometimes a trader develops a
negative trading habit. They overtrade once, get lucky, they carry on
and end up wiping out their account.
 Conclusion & Recommendations
Try to let go of your expectations. Always have a risk management plan. Choose a trading strategy that
you like. Make sure it has strict conditions for entering and exiting trades. Always try to back-test until you
trust it.

Do not overtrade under any circumstances. Try to maintain a diary to analyze your trade. Try to forecast
your long-term progress instead of short-term success or failure. Always remember short-term is less-
important.

What happens on average and in the long term that should be our focus. One last tip not to slump when
trading. Research says that people who slouch are less advanced at solving logical problems than those
who sit straight to their trading plan.
Theforexsecret.com