ONE "GOOD" TRADE CAN COVER TEN "BAD ONES"
Though forex trading is highly speculative, you can add some " elements" an edge, to it with the way you approach trading and the strategy you deploy to achieve success. Has it occurred to you why the very few traders who succeed in forex business, remain successful not matter the odds? It is the ABILITY to adhere strictly to a winning strategy.
Do you know just one GOOD winning trade can cover the losses of ten BAD losing trades?
This is how:
1. When you have a confirmed strategy you always use, come rain or shine, you do not deviate from it. No matter the temptation to start experimenting more strategies, you stick to it.
2. You have a certain volume of trade you execute each time you trade, without any form of inconsistency. If you are trading one standard lot, it is one lot at a time, No temptation to increase it just because you want to HIT IT BIG.
3. You maintain the same level of Stop loss, Take profit, Trailing steps, Break Even, levels at all times. When you only take profit manually, you equally follow the laid down strategy.
4. When you only trade the economic data you are familiar with or the way you believe in trading, but making sure the same strategy and methodology is followed.
5. You are now ready to join the BIG LEAGUE of 2 % successful forex traders if you can master all these points and make a commitment to adhere STRICTLY to them.
If you allocate just 10 pips of potential loss as your stop loss target, and you trade one standard lot, that is 100,000 US Dollars volume, you should be prepared to lose $100 for each bad trade.
If you follow your strategy very well and you cannot get one GOOD winning trade of about 100 pips
(or even less or more) that can take care of any losing trades in the coming days, it means the strategy
you are using is not good enough.
One GOOD trade of 100 pips can cover your ten BAD trades of losses if you are consistent.
It is this level of assurance and consistent CONSISTENCY that creates the difference between the Winners and the Losers. This is the reason why those who are successful in forex trading, always remain successful.
LETS USE MYSELF AS A CASE STUDY:
If I have one GOOD trade for example and I gross 100 pips of profit, it will take me at least ten BAD
losing trades to lose the profit made from that single GOOD trade.
Is it possible for me to have ten BAD TRADES in a roll? No, not at all. It is not possible for me to have such a losing streak, since I use the same strategy over and over again.
The major problem forex traders have, is the inability to evolve a winning strategy and stick to it.
Those who are unable to do so, fail to admit it, and they continue to experiment, trying different strategies endlessly while the losing streak continues.
Think twice now and take a bold step today. If you cannot make 100 pips in a trade, start by making 10 and build yourself up professionally instead of HOPING for one major breakthrough thereby, making yourself a PRISONER OF HOPE.
Click this link to visit my Blog: http://comprehensivenewstrading.blogspot.com/
Though forex trading is highly speculative, you can add some " elements" an edge, to it with the way you approach trading and the strategy you deploy to achieve success. Has it occurred to you why the very few traders who succeed in forex business, remain successful not matter the odds? It is the ABILITY to adhere strictly to a winning strategy.
Do you know just one GOOD winning trade can cover the losses of ten BAD losing trades?
This is how:
1. When you have a confirmed strategy you always use, come rain or shine, you do not deviate from it. No matter the temptation to start experimenting more strategies, you stick to it.
2. You have a certain volume of trade you execute each time you trade, without any form of inconsistency. If you are trading one standard lot, it is one lot at a time, No temptation to increase it just because you want to HIT IT BIG.
3. You maintain the same level of Stop loss, Take profit, Trailing steps, Break Even, levels at all times. When you only take profit manually, you equally follow the laid down strategy.
4. When you only trade the economic data you are familiar with or the way you believe in trading, but making sure the same strategy and methodology is followed.
5. You are now ready to join the BIG LEAGUE of 2 % successful forex traders if you can master all these points and make a commitment to adhere STRICTLY to them.
If you allocate just 10 pips of potential loss as your stop loss target, and you trade one standard lot, that is 100,000 US Dollars volume, you should be prepared to lose $100 for each bad trade.
If you follow your strategy very well and you cannot get one GOOD winning trade of about 100 pips
(or even less or more) that can take care of any losing trades in the coming days, it means the strategy
you are using is not good enough.
One GOOD trade of 100 pips can cover your ten BAD trades of losses if you are consistent.
It is this level of assurance and consistent CONSISTENCY that creates the difference between the Winners and the Losers. This is the reason why those who are successful in forex trading, always remain successful.
LETS USE MYSELF AS A CASE STUDY:
If I have one GOOD trade for example and I gross 100 pips of profit, it will take me at least ten BAD
losing trades to lose the profit made from that single GOOD trade.
Is it possible for me to have ten BAD TRADES in a roll? No, not at all. It is not possible for me to have such a losing streak, since I use the same strategy over and over again.
The major problem forex traders have, is the inability to evolve a winning strategy and stick to it.
Those who are unable to do so, fail to admit it, and they continue to experiment, trying different strategies endlessly while the losing streak continues.
Think twice now and take a bold step today. If you cannot make 100 pips in a trade, start by making 10 and build yourself up professionally instead of HOPING for one major breakthrough thereby, making yourself a PRISONER OF HOPE.
Click this link to visit my Blog: http://comprehensivenewstrading.blogspot.com/
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