Consistency is the brick

NihadMunif posted:
Consistency matters so much in trading. If you can make stable and predictable profits throughout some long period of time, you are doing a nice job. Consistency shows that your trading strategy works in most of the cases. Later on, you can improve it if you want your profits to be bigger.

Yes. Consistency plays an important role to survive in this risky market.

Most people can make some random profit trade. Making consistent money is the hardest job. This requires a good knowledge of the market as well as a calm and composed mind.

Akasuki posted:
Most people can make some random profit trade. Making consistent money is the hardest job. This requires a good knowledge of the market as well as a calm and composed mind.

It is really difficult to maintain consistency. The trader cannot maintain consistency if he does not work with the proper plan.

Definitely agree on this one. Consistency is key.

Facts...Consistency

I am now in my 18th week of profits without a losing week. I have not had a losing week since October 2021. I will say that when you have a strategy that you have mastered to the MAX and stick to it no matter what.YOu are definitely on your way!

LyudmilLukanov posted:
You are right. Consistent profit is key in trading. Trader need discipline and patience to make consistent profit.

That’s my main motto; I basically don’t focus on any specific trade position; I always focus on the process! So, when I face any SL, I don’t lose my motivation since I know, there is no way to make 100% right trades in trading! My success trade ratio is more than 76%.

76% is good number mate. Nice!

Traders run behind consistency but truth is that not every trader has top notch systems to bang the market. Therefore randomness is more often seen for profits and losses. For a consistent journey right approach should be there that comes after drilling the each aspect of trading.

To be consistent not only must you have a number of PROVEN strategies but also you must know when to implement them. I am still on a weekly win streak since October 2021. I teach my students how to do the same. They said they have never seen anyone as consistent as my trading. I was kind of surprised by that and then thought maybe they are right.

Today I REALLY thought I would get slaughtered but no fear, I changed my strategy for finding opportunities by not overthinking the trades and just hitting the button. I traded 12 pairs.. Finished the day on top at $9,000 profit. Which is not as good as my usual profit but still I feel good about it and am fully satisfied with that. I am still shocked I did not end in the red.

I sure started out in the red though. LOL

SteveFx11 posted:

LyudmilLukanov posted:
You are right. Consistent profit is key in trading. Trader need discipline and patience to make consistent profit.

That’s my main motto; I basically don’t focus on any specific trade position; I always focus on the process! So, when I face any SL, I don’t lose my motivation since I know, there is no way to make 100% right trades in trading! My success trade ratio is more than 76%.

Success rate is also not as important as it may seem. You need to analyse your trades on a risk to reward basis and what return you get. someone could have a 30% success rate and be more profitable

Well, of course, consistency is the brokc of success, however nowadays traders might trade not all the time and not daily at all. Everything depends on what objective do you follow. Some traders believe that if they would earn the certain amount of money then they can get rid of trading, however trading will never let you. You will understand that due to this source of income you can earn much more money and you start trading more and more. I believe consistency plus discipline plus willings to earn money would be the great combination for a trader.

The skills required to become a forex trader requires time. Only those traders become successful who are consistent and learn from their mistakes.

Briosody posted:
It’s not only forex! If you consistently work hard in any profession, you get success one day or the other.

I agree with you mate, consistency is the key to success.

Consistent profit making is possible when traders can recover from losses. I know it’s hard but it’s possible. Take time to develop yourself step by step. Traders have to find numerous strategies because single strategy doesn’t work in all conditions.

Yes indeed!
Consistency is the brick of a successful forex trading career. Every trader should gain knowledge and should develop their own strategy and follow it consistently. Making money in forex is not an easy task at all and one should always be patient and consistent in order to be a successful forex trader.

Trading is one of those activities that takes practice, patience and perseverance. You could be losing money in the first few years of trading. Only those with a strong will to learn, a strong desire to win and the determination not to quit will succeed in the end. The people who succeed at trading are those who are willing to accept a certain level of risk in exchange for potentially large rewards.

Only experienced traders can maintain consistency in trading. For making consistent profit, traders have to forecast the market well to generate signals. These signals make his trade in the right direction to produces profits for them.

LabuyaChicay posted:
Only experienced traders can maintain consistency in trading. For making consistent profit, traders have to forecast the market well to generate signals. These signals make his trade in the right direction to produces profits for them.

it can take years to be consistent enough to be profitable. It is a hard game.

casablancaForex posted:

LabuyaChicay posted:
Only experienced traders can maintain consistency in trading. For making consistent profit, traders have to forecast the market well to generate signals. These signals make his trade in the right direction to produces profits for them.

it can take years to be consistent enough to be profitable. It is a hard game.

It really does take years. I think thats the massive issue with most traders if they accepted it would be years to be consistent they wouldnt be blowing accounts because others have been successful in 'months' consistency is so key but as you say is hard because the markets are moving from trending to ranging to volatile and you need to be consistent in all of them types

Yes, I agree consistency is one of the fundamentals of the forex market.