How to be Consistently Profitable in Forex Trading

why should anybody trade Forex, because it’s a very liquid market it’s a huge market and your ax you can access it and you know with a relatively small amount of money I think, but somebody shouldn’t trade Forex just, because they’re looking to get rich they should see is something that they over time have a genuine interest in and it’s not it’s not timeframe specific, so, if I’m down in South Africa that’s great, because they’re running out you know now or, so ahead, but I can still trade Forex, if I’m over towards Asia or the other way, so it you’ve got opportunity wherever you are is it possible to make money consistently with Forex a short term and do you know any traders that do this yeah I think it’s easier to make money consistently short term than it actually is to make money long term, so again you got to define short term, but, let’s say three months it’s you can you can get lucky and make money over three months and you can have as long as you’ve got good risk management you could probably get lucky and make money over three to six months is whether you can make money year two three four, so both is possible yeah can’t intraday trading be comfortable yes absolutely and I think with all trading you’ve got to be disciplined, but with intraday trading the charts are in front of you stuff is happening and, if you decide not to take the trade and it goes the way you thought it was going to go that sort of screaming at you look, if you could you could have traded or you have a trade and it loses the next opportunity to come up quite quickly, so whilst discipline is important across the board is even more important when you’re intraday trading, so it’s possible to make money, but you are being the emotional ups and down of attentively bigger and happen more quickly, so you have to be more resilient do you think that’s one of the biggest challenges to overcome them with integrator absolutely the that the biggest challenge is resilience is trade frequency, so you your strategy may average three trade today, let’s say now, if those, if you have two losing trades, so you trade it nine o’clock in the morning 11 o’clock in the morning and you’ve had two losses and you get another set up at 2:00 in the afternoon will you take that third set up, because you’ve had two losses that day in quick succession whereas a swing trader may have had two losing trades, but they might be three or four days apart, so there’s been a spell where they can relax get their head back together and that placing that third trade doesn’t seem as intense whereas as a day trader you’ve got that intensity that you’ve got it you’ve got to push the button, for example, carrier I spoke about earlier she had eight losing trades in one morning, and then she had two winning trades that almost got her back the entire amount of money that she’d lost, but she still had to place the eighth and the ninth the ninth and a tenth after having eight in a row, so it takes it’s an intensity yeah what advice would you give something who wants to trade in currencies and well there’s like, so many I think, if I was to pick three things is start small and worry about the percent in terms of your result worried about your percent in measure your percentage return rather than the amount of cash you make initially is don’t be lured in by the fact that there are, so many forex markets out there is only pick a few and make sure that you have a strategy and you’ve tested it whether it’s one of ours that you’ve taken tested yourself whether it’s one that you have you bought from wherever or found on the internet test that strategy before you put your own money behind it.

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