How To Be Consistently Profitable in Forex Trading.

[sumin]

I think Forex Trading Strategies � How to be consistently profitable in forex trading FOREX TRADING STRATEGIES I always get the same questions .

[winwinwindu]

First we have to do is believe in our trading systems and money management, then make a reasonable daily goal, for example, 2-5% per day is more than enough, and create a daily journal, why do you sell there, why would you buy there , why put stoploss diarea, why take profits in the area, review your journal every weekend. the consistency of the profit is close to you

[winwinwindu]

Forex Trading Strategies � How to be consistently profitable in forex trading

FOREX TRADING STRATEGIES

I always get the same questions from forex traders around the world:
�Ezekiel, I can�t seem to be consistently profitable in forex trading�
then they may follow on by �I know my forex trading strategy works.. but i just can�t get profits month after month..�
These are the questions that i get frequently. And this is my general answer to them.
I will usually ask them back:
�So, are you keeping track of your trades?�
You see, to be consistently profitable. You cannot forgo this important step.
That is TRACKING.
All successful businessman tracks their own and their company�s performance.
This also applies to successful forex traders.
You must have a proper and systematic way to track your trades and your success.
So that you can see if you are on the right track to success or if you are not even on the track..
Forex Trading Strategies � How to be consistently profitable in forex trading

Here are some simple ways to track your forex trades:
Firstly, you have to just focus on just 1 forex trading strategy at 1 time.
You cannot trade different forex trading strategies together at 1 time, at 1 account.
If you do that -
My question to you is:
How do you know which forex trading strategy is working for you? And which is not working?
Therefore, start trading 1 strategy at 1 time.
Be specific on the strategy and do not deviate or change random stuffs.
Eg. changing the way you enter, exit trades etc.
It has to be consistent all the way.
So run this strategy trades for 20 trades.
At the end of the test, what is your account status?
Are you profitable, breakeven or negative?
Then ask yourself, did you change anything along the way, among the different trades?
eg. the lot size is different, or you should not have entered a certain trade, but you entered anyway.
If there is a deviation � a change,
then you have to restart the entire test.
By using this method of tracking, you will be able to clearly see whether the forex trading strategy you are using is working for you.
Forex Trading Strategies � How to be consistently profitable in forex trading

Besides, i will recommend you to take screen shots of the trades you entered.
This way, you can review all the 20 trades you have entered once the test is completed.
And you can clearly see what are the mistakes you have made on some trades and what are the things you did right on certain forex trades.
This method will prevent you from repeating the same mistakes again.
Ezekiel Chew
Asia #1 Forex Mentor

First we have to do is believe in our trading systems and money management, then make a reasonable daily goal, for example, 2-5% per day is more than enough, and create a daily journal, why do you sell there, why would you buy there , why put stoploss diarea, why take profits in the area, review your journal every weekend. the consistency of the profit is close to you

[nsr.sultana]

I think scalping technique is very challenging because I often get trapped on the number of fast cost. great expertise needed to become a scalper. For me would be too much because it will improve the chance of creating the business.

[markoto]

Without suffering people will never want to go forward, buffalo about to be whipped first before going the way, if you feel the bitterness of the world forex loss MC and there is a very valuable lesson. Most of the MC and the loss is not because the system is wrong, but because it often violate discipline

[babayuyu]

I agree with you, tracking is important, and then make a trading journal is needed. But, as a scalper, I found difficulties to save picture of my open trade, because I open many times in one day. I just trade in two pairs, EUR/USD and AUD/USD, but to make a trading journal is still a problem for me. Do you have any advice?

If you are a scalper, then you can write your strategy be in your journal, do not need to write all the circumstances the transaction. If there is a state of A, then you will do if there is a condition A or B you will do B, and that sort of thing.

[dila]

because it is after all in the business of forex is no profit and loss. so indeed we should be able to accept both possibilities as part of this forex business, and always could take a lesson from every incident that we experienced in the forex business.

[singh adnan]

That is TRACKING.
All successful businessman tracks their own and their company�s performance.
This also applies to successful forex traders.
You must have a proper and systematic way to track your trades and your success.
So that you can see if you are on the right track to success or if you are not even on the track..

I agree with you, tracking is important, and then make a trading journal is needed. But, as a scalper, I found difficulties to save picture of my open trade, because I open many times in one day. I just trade in two pairs, EUR/USD and AUD/USD, but to make a trading journal is still a problem for me. Do you have any advice?

[mouradyaw]

If we follow a good business strategy and proper money management then it should be a profitable business.And i think we must need to learn it first then we can make huge profit from this market,otherwise Forex can't gives us more profit.

[s3pta]

I think the most important thing in forex trading is to find a trading style that matches first.
after finding a trading style then we have to test the ability of the demo account to see how much progress our equity.
if we are already familiar with the system so consistent profit will also be produced.